Business practice and etiquette is similar in Austria and America; the major difference is the relatively formal atmosphere in which business generally is conducted in Austria.

In most businesses, the dress code will be suit-and-tie, and the visitor will be offered something to drink during the meeting (usually coffee, juice or mineral water) - this offer should be graciously accepted.

When meeting for the first time, it is expected that you shake hands and introduce yourself with your full name. In Austria, the use of first names is restricted to close friends and colleagues who have known each other for a long period of time. To address your business partner with his first name is not appropriate until the topic of first names is expressly mentioned and agreed upon (often over a glass of wine). This may take a week or a year or in many cases may never happen.

Possibly the most bewildering example of Austrian formality is the widespread use of titles, be they in the form of a university degree or a position in a firm or in the government. You will find these titles on business cards and correspondence, and it is expected that you address the person with his or her title both in written and oral communications. The most common titles are:

”Universitätsprofessor” Abbr.: Univ. Prof. – indicates that the person is a tenured professor at an Austrian University.
"Doktor" Abbr.: Dr. - a university degree similar to the U.S. doctorate. DDr. indicates that the person has earned an Austrian doctorate in two subjects.
"Magister" Abbr.: Mag. – a university degree similar to the U.S. Master of Arts.
"Diplom Ingenieur" Abbr.: D.I. or Dipl. Ing. – a university degree similar to the U.S. Master of Science.
”Diplom Kaufmann” Abbr.: Dipl. Kfm. or Dkfm. – a degree in business earned at a non-university institution (now defunct).
”Ingenieur” Abbr.: Ing. – a degree in technical subjects earned at a non-university institution.
”Kommerzialrat” Abbr. Komm.Rat – an honorary title for achievements in commerce bestowed by a government organ.

In some cases, individuals have more than one title; the titles are listed with the highest last. Thus you may encounter a name on a business card that looks like this: Dkfm. Dr. Peter Mustermann, Direktor.

Though most Austrians are well-disposed to Americans, the formality of Austrian business culture should indicate some limits to typical American practices. Highly choreographed and high-pressure sales techniques, for example, or hearty friendliness to someone just met, are absolutely alien to Austria, and are an almost guaranteed way to bring an early end to negotiations.