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2.1. Main Formation Requirements

The establishment of a company in the Czech Republic involves the following steps:

  • Verify the uniqueness of the company name via the database on the Ministry of Justice's Website
  • Obtain extracts of criminal record for managing directors
  • Produce statutory declaration and specimen signatures of managing directors
  • Arrange the company's place of business
  • Have the articles of association notarized by the notary public
  • Open a special bank account, deposit the registered capital, and obtain confirmation
  • Register with the Trade Licensing Office and obtain extract of the trade license
  • Register in the Business Registry of the Regional Commercial Court by submitting an application signed by all first directors of the company

Following company registration, the following steps must be taken:

  • Register for taxes, including income tax and general registration within 30 days, withholding tax and payroll tax registration within 8 days, and value added tax when conditions are met (Covered Sec. 12.)
  • Register for social security within 8 days of the first date an employee enters into work
  • Register for health insurance

The company registration process can typically be completed in 20 days, if all documentation is in order.