Company FormationCzech Republic
Czech Republic is a small country with a population of about 10 million people. The country has a GDP of more than $215 billion. Czech Republic’s neighbours are Germany, Austria, Slovakia, and Poland. It is a landlocked country that is known for its historic castles, high rates of urbanization, and historic sites. It joined the European Union in 1995. The main sectors of its economy are manufacturing and services. The latter takes about 60% of the GDP.
Why Registera Company in Czech Republic?
Highly industrialized
The Czech Republic is a highly industrialized country, which makes it easy to do business.
Infrastructure
The Czech Republic has highly-developed infrastructure. It has the densest rail network in the world.
Fast internet speeds
The Czech Republic has some of the fastest internet speeds in the world. This makes it simple and easy to do business.
Low tax rates
The corporate tax rate in Czech Republic is 19%. This is lower than that of the EU average of 22%.
Part of EU
The Czech Republic is a member of the European Union. This makes it possible for businesses to do business in all EU member states.
Strong neighbouring countries
The Czech Republic has strong neighbouring countries, which makes it easy to do business in them.
Steps for Registeringa Company in Czech Republic
There are a number of steps that you need to follow when you are registering a company in Czech Republic. These are:
You and all directors need to get a police report.
Get a tax clearance certificate from the revenue office. This will ensure that no director has tax arrears.
You should download forms from the government and fill them. The signatures of directors are mandatory.
Use the name of your company and deposit the minimum share capital.
This is a process that is done within a few months.
FAQson Registering a Company in Czech Republic
- • Identification documents of directors
- • Police clearance certificate
- • Tax clearance certificate
- • Bank documents
- • Physical location address
- • Memorandum of Association
- • Legal stamp
- • Resident documents
The corporate tax rate in Czech Republic is 19%. There is a standard VAT of 21%.
It depends on the type of business. Registering a sole proprietorship takes less than 24 hours while registering a limited liability company takes a few weeks or months.
- • General commercial partnerships – Also known as VOS.
- • Limited partnerships – These are known as k.s. All partners are liable for company obligations.
- • Limited liability company – Also known as s.r.o. These are the most common types of businesses.
- • Joint stock company – These are also known as a.s. They allow shares to be traded freely without registration.
- • Cooperative – This is a company that is owned by members. Their goal is to improve the wellbeing of members.
- • Branch office – This is a foreign company that sets up an office in the country.
- • Joint venture – This is a foreign company entering into a partnership with a local Czech company.
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