How to open a business in the Czech Republic

Russian businessmen have the opportunity not only to develop business in their own country, but also to open new firms and branches abroad. This is easiest to do in countries that welcome the injection of foreign capital, such as the Czech Republic.

You will need

• - constituent documents of the future organization;

• - passport;

• - money for authorized capital.

Instruction manual

1

Get at your disposal the money necessary for the authorized capital. According to Czech law, a foreign company means at least two hundred thousand Czech crowns, or approximately seven and a half thousand euros.

2

Decide which business you want to open. Journalists report that such areas as hotel and restaurant business are the most popular among Russian entrepreneurs. This can be explained by the fact that focusing on many tourists in the Czech Republic is quite profitable. Please note that some activities are subject to licensing. These include, for example, trade.

3

Gather the necessary documents. In Russia, you will need to obtain a criminal record. This can be done in the police department of your city. Also prepare constituent documents such as a charter and application for registration. Lawyers can help you with this. You can draw up these documents in Russia, and then translate them into Czech, or directly in the Czech Republic with the help of local lawyers, which can be considered more preferable.

4

Open a bank account in a Czech bank. On it you must put an amount equal to the authorized capital of the company.

5

Register your company. You can do it personally by arriving in the country on a tourist or business visa. The prepared package of documents certified by a notary should be transferred to the Regional Trade Court at the place of registration of the organization. Your organization should be entered in the commercial register, and you should be given an extract about this. Then leave the organization registered with the local tax office.

6

If you only have a temporary visa, get a residence permit. The basis for this will be your business.

note

If you do not have the opportunity to deal with registration problems yourself, you can contact one of the agencies that are engaged in assistance in opening firms abroad. They will be able to represent your interests by proxy.