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ADVICE #21

How to open a company in Czech Republic?

The most common and simple registration form of commercial legal entities in the Czech Republic is společnost s ručením omezeným (analogue of the Russian "society with limited liability"). The minimum share capital for a company is 1 Czech Koruna, the minimum number of participants is 1 person.

In contrast to the Russian practice, in the Czech Republic there is no concept of “Charter of the company”, it replaces the “Contract parties” that is notarized. To create s.r.o. it is necessary to make the Contract participants; prepare certificate of no criminal record in the Czech Republic and Russia; to receive from the owner of the premises, which will be located in the firm consented to the operation (or rental agreement or proof of ownership of premises, etc.). The shareholders' agreement signed and certified by a notary; filled in the registration statement of the company; the account is placed in the Bank's authorized capital (in this issue there are nuances, but with a capital of, say, 10 crowns, they do not matter), then all the documents are submitted to the commercial court - the registering body.

In reality, the number of documents may be larger than, for example, to confirm the legal address, you will need an extract from the Cadastre of immovable property stating the ownership of the premises, and the future leaders of the firm will have to fill out a couple forms. In addition, if the founders are legal entities, and will require additional procedures.

Commercial court shall enter information about the new company in the commercial register, after which you must register in the local financial authority (analogous to a Tax inspection and social bodies).

The process of opening business in the Czech Republic in general is quite simple and logical, but for its successful passage it is necessary to observe all legislative requirements, which may differ depending on specific circumstances. A detailed account of all possible variants and pitfalls registering takes only a few tens of a standard sheet of paper. Therefore, most often for the preparation of documents and save time and effort, future entrepreneurs (especially foreign) to specialized companies. However, in the most simple and standard case - a company with several founders individuals - registration can be performed independently.

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