Being a member of the European Union, the Czech Republic borders on Germany, Poland, Austria & Slovakia. Prague, the capital of the Czech Republic, has a population of 1.3 million. The official language of the country is Czech. The national currency is the Czech Crown.
The main sectors of the Czech economy are mechanical engineering, metallurgy, textiles, clothing & chemical industries.
Foreign investors considering doing business in the Czech Republic can take advantage of the possibility of reducing the tax burden by 5% (sometimes they can even achieve zero taxation).
If you're interested in registering a company in the Czech Republic, you should pay attention to the below information related to the establishment & conduct of business in the Czech Republic.
Individuals wishing to register a company in the Czech Republic can choose one of the following business organization forms:
- open commercial company;
- private company;
The last two types are the most popular among foreign investors.
To register a company in the Czech Republic, one must:
- choose a name for a company;
- provide a police clearance certificate;
- register a legal address;
- open a corporate account;
- pay a state fee;
- have a seal made;
- prepare the necessary documentation;
- have at least one director;
- have at least one shareholder.
The main taxes in the Czech Republic are:
- corporate income tax - 19%;
- pension fund tax - 5%;
- personal income tax - 15%;
- dividend tax - 15%.
Considering registering a company in the Czech Republic? Need advice on company registration in the Czech Republic? Why not contact IQ Decision UK?