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Frequently asked questions

Why doing business in Czech republic?

One of the main reasons is certanly the fact that Czech Republic is member of EU, and that it has one of the highest GDP grow rates in whole Europe. It is home of famous Škoda cars, Pilsen bier and European country with the highest share of industrial citizens in whole Europe. Conserning both the real estate and labour costs Czech republic is incomparably cheaper than nearby countries Austria and Germany. Not only industry is great potential in this country but the tourism as well. Only capital Prague derives more than 4 billion dollars of year income from tourism and with tourism connected activities. Fact that in two years time Czech Republic will join Schengen agreement and that it will be inside unique European state only increases its popularity.

Who can do business in Czech Republic?

Everybody is allowed to do business in Czech Republic. It works on the principal of reciprocity, namely the nationals of the countries which allow business activities to Czech citizens are allowed to do business in Czech Republic. Companies which are mostly established by foreign citizens either with purpose to acquire a real estate or as branches of their existing companies are s.r.o. which are identical to the Limited Liability Company.

To become owner and director of Czech company requires certain procedure. For the EU citizens, conditions are as simple as for the Czech citizens, it means that you are not obliged to have resident address in Czech Republic and you do not need to have any kind of visa. If you are not an EU citizen, you must have visa and you have got to go through more complicated procedure, e.g. you must have residence address, provide minimal amount of money on your private bank account etc. (more information on...). If all steps are carefully conducted, usually it should be done in few months.

Problems appear in the case of the persons who need visa to enter Czech Republic. In this case we are able to provide all the necessary documents to prepare their residence permit. Procedure takes app. 3 months and conditions can be provided to you upon request.

What is Czech s.r.o. (Ltd)

As its name says, s.r.o. or společnost s ručnením omezeným is identical to Limited Liability company in the Anglo-Saxon terminology. Main advantage of such company is that by establishing it you protect your personal assets which are not endangered in the case that the law suit is pressed against your company. In the case that you want to buy a real estate it is not recommendable to use the same company which is the owner of a real estate to do further business since it could endanger your property.

Czech s.r.o. must have one founder, one director ( they DO NOT HAVE TO BE CZECH CITIZENS ), basic capital of 200.000 CZK ( in the case of one founder it has to be paid up upon foundation ), resident address ( which we can provide ) and of course certain trades. In Czech Republic trades are not for free - registration costs app. 35 euro. If company is founded or bought with purpose of real estate acquisition there is necessity of one trade. For certain trades it is necessarry to have special state licences, or educational level.

In case of your interest in the above-mentioned companies or services connected therewith do not hesitate and contact us by e-mail: info@spolecnosti.com or by phone: +420 603 235 810.