The 2005 Karl Schäfer Memorial (also known as the Vienna Cup) took place from October 14 through 17, 2005 at the Albert Schultz Ice Rink.

Skaters competed in the disciplines of men's singles, ladies' singles, pair skating, and ice dancing.

Countries who had already qualified a spot to the Olympics at the 2005 World Figure Skating Championships were not eligible to qualify more spots here, and their results were discounted from the overall results when allotting spots to countries.

Unlike at the World Championships, where countries could qualify more than one spot depending on the placement of the skater, at this competition, countries who qualified were allotted only one spot to the Olympics, regardless of placement.

Some countries were later given spots based on their performance at this competition after countries who had qualified Olympic spots informed the ISU that they would not be filled.