A depository of an  undertaking  for  collective  investment  in  transferable securities (UCITS) must be an Austrian credit institution or a domestic branch of an EEA credit institution (Directive 2009/65/EC). Licenses to manage Alternative Investment Funds (AIFs) are granted to companies with their seat and head office in Austria (Directive 2011/61/EU).
"Requirement of the custodian
§ 39. 
(1) The safekeeping of the UCITS 'assets is to be transferred to a custodian bank within the meaning of Section 41 (1).
[...]
Requirements for the custodian
§ 41.
(1) Only a credit institution that is authorized to operate custody business (Section 1 (1) (5) BWG [Banking Act]) or a domestic branch of an EEA credit institution established in accordance with Section 9 (4) BWG [Banking Act] can be appointed as the custodian bank. The appointment requires the approval of the FMA. [...]" (Investment Fund Act (BGBl. I Nr. 77/2011), last amended by BGBl. I Nr. 62/2019, §§ 39 and 41 [google translation])
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"Credit and financial institutions
§ 1.
(1) A credit institution is anyone who is entitled to conduct banking business on the basis of §§ 4 or 103 no.5 of this Federal Act or special federal statutory provisions. Banking transactions are the following activities, insofar as they are carried out commercially:
[...]
5. the safekeeping and administration of securities for others (custody business);
[...]
Grant of concession
§ 4. 
(1) The operation of the business referred to in Section 1 (1) requires a license from the Financial Market Authority (FMA).
[...]
§ 5. 
(1) The license is to be granted if:
1. The company is to be run as a credit institution in the legal form of a corporation, a cooperative or a savings bank;
[...]
14. the seat and the head office are in [Austria];
[...]" (Banking Act (BWG; BGBl. Nr. 532/1993), last amended by BGBl. I Nr. 98/2021, §§ 1, 4 and 5 [google translation])
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"Definitions
§ 2. 
(1) For the purposes of this Federal Act, the following definitions apply:
1. “AIF” means any collective investment undertaking, including its sub-funds, which
a) collects capital from a number of investors in order to invest it in accordance with a defined investment strategy for the benefit of these investors without the capital collected being used directly for operating activities, and
b) no approval required in accordance with Art. 5 of Directive 2009/65 / EC.
2. “AIFM” is any legal person whose normal business activity consists of managing one or more AIFs.
[...]
Conditions for starting work as an AIFM
§ 4.
(1) The management of AIFs requires the FMA to be licensed as an AIFM. The AIFMs licensed in accordance with this federal act must comply with the licensing requirements at all times.
[...]
License requirements
§ 6. 
(1) The license is to be granted if: [...]
5. the seat and the head office of the AIFM are in Germany.
[...]
Conditions for the management of EU AIFs and the provision of services in Austria by AIFMs based in another Member State
Section 33. 
(1) An EU AIFM authorized in another member state can either directly or indirectly via a branch in Austria
1. Manage EU AIFs, provided the EU AIFM is authorized to manage this type of EU AIF, or
2. Provide services in accordance with Art. 6 Para. 4 of Directive 2011/61 / EU, provided that the AIFM has been granted authorization for this. [...]"(Alternative Investment Fund Managers Act (BGBl. I Nr. 135/2013), last amended by BGBl. I Nr. 9/2020, §§ 2, 4, 6 and 33 [google translation])
Investment Fund Act (BGBl. I Nr. 77/2011), last amended by BGBl. I Nr. 62/2019, §§ 39 and 41
Banking Act (BWG; BGBl. Nr. 532/1993), last amended by BGBl. I Nr. 98/2021, §§ 1, 4 and 5 
Alternative Investment Fund Managers Act (BGBl. I Nr. 135/2013), last amended by BGBl. I Nr. 9/2020, §§ 2, 4, 6 and 33 
[<a href="https://www.ris.bka.gv.at/GeltendeFassung.wxe?Abfrage=Bundesnormen&Gesetzesnummer=20007389">Act</a>],[<a href="https://www.ris.bka.gv.at/GeltendeFassung.wxe?Abfrage=Bundesnormen&Gesetzesnummer=10004827">Act</a>],[<a href="https://www.ris.bka.gv.at/GeltendeFassung.wxe?Abfrage=Bundesnormen&Gesetzesnummer=20008521">Act</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02011L0061-20190113">Directive 2011/61/EU</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32009L0065">Directive 2009/65/EC</a>]