Czech Republic Company, S.R.O.
Společnost s ručením omezeným (s.r.o.) – it is the company with limited liability which is the most widespread legal form in the Czech Republic.
REQUIREMENTS FOR COMPANY’S INCORPORATION
- Minimum 1 Director
- Minimum capital of s.r.o. – 1 CZK (recommended – 100 CZK), 100% must be pre-paid before company’s registration
- S.R.O. shareholders can be individual or corporate, non-residents as well
- Czech Company must have accounting
- The tax declaration has to be provided annually till April 1 of the next year, the report on the VAT – monthly;
- Income tax of the Czech companies makes 19%, the Tax at a source on dividends in the Czech Republic makes 15%, the VAT Rate in the Czech Republic is 21%.
- The financial statements are subject to obligatory audit at simultaneous performance of two of three criteria (1. the company has 50 employees and more, 2. annual turnover ≥ CZK 80000000; 3. assets of the company ≥ CZK 40000000);
- Passport copy (internal and foreign) of shareholder/director
- Certificate of criminal records on the director/shareholder with the translation into Czech (we can independently receive the letter, cost of EUR 200);
- The application and power of attorney from the director issued in consulate of the Czech Republic – draft documents we provide (possibly also to process documents at the notary, in this case it is necessary to pay the cost of translation into Czech);
- The power of attorney from the shareholder issued in consulate of the Czech Republic – the project we provide (possibly also to process documents at the notary, in this case it is necessary to pay the cost of translation into Czech);
Registration of company without nominee service (including 1st year of service) - EUR 3,000
Registration of company with nominee service (including 1st year of service) - EUR 3,800
Annual renewal (from 2nd year) – EUR 1,200 (without nominee service), EUR 2,000 (with nominee service)
* for registration of the company personal presence of the director/shareholder isn't required
** Terms of registration of the company and opening of the bank account: two weeks from the moment of
obtaining originals in Prague
Financial statements and Audit:
- EUR 250 – if the company isn't a payer of the VAT and the company has no employees (to 50 transactions)
- EUR 300 – if the company is a payer of the VAT or the company has employees (up to 50 transactions)
Bank account opening in Czech Bank (UniCredit Bank, CSOB, Ceska Sporitelna, Fio Bank, etc) – 1500EUR
** opening of the bank account requires a visit of the director of the company for 1 day to Prague
Requirements for Bank Account opening*
- Personal presence of the director
- the beneficiary/shareholder/director/manager the account have to provide the translation of the internal passport on Czech + the original of the foreign passport, the document confirming the residential address (received within the last 3 months) with the translation into Czech;
- description of economic activity of the company (type of activity, general information on the main partners, movement of goods, etc.);
- confirmation of solvency of the beneficiary (the reference from the place the work/reference from bank on existence of the account, documents on the property right to the real estate, the vehicle, stocks of other companies / the diploma about the higher education);
- certificate of incorporation
- If company registered more than 3 months ago – Certificate of Good Standing, Certificate of Incumbency;
- resolutions/protocols on assignment of directors of the company and on release of certificates of actions;
- Share Certificate;
- Power of Attorney from director is required if there is a manager for account acts
- The Declaration of Trust if in structure of the company the nominal shareholder is used.
Required documents for a nominee:
- Passport copy of Nominee director and nominee shareholder
- Certificate of incorporation
- resolutions/protocols on assignment of nominee directors/shareholders of the company
* The bank allow to change the requirements, tariffs and to demand any additional documents and information.