Overview of Incorporation of an LLC in Czech Republic
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1.
Preparation of an Incorporation Agreement i.e. Incorporation Act
1 day
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2.
Registration of company assets
15 days
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3.
Payment of the registered capital to a temporary bank account
1 day
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4.
Company registration in the Commercial Register
10-15 days
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5.
Company registration at the Tax Office
1 day
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6.
Company registration at the Health Insurance Institution
1 day
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7.
Registration of the company at the Social Insurance Institution
1 day
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Comments on the incorporation of an LLC in the Czech Republic
| 1. |
The Incorporation Agreement (Incorporation Act) must be in the form of a
notarised document;
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| 2. |
The entrepreneur – legal entity – must appoint an executive person, i.e.
an individual responsible for managing the business affairs of the
company. Application for company registration must have the document
indicating the company seat enclosed. Further, a statement of
verification and an excerpt indicating that the executive has no
criminal record must also be submitted;
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| 3. |
Minimum registered capital is CZK 200,000 (EUR 700); before the
submission of the application to the Commercial Register, the amount of
at least CZK 100 000 must be deposited; in case of only one founder, the
entire amount of the registered capital must be deposited. The
registered capital administrator deposits the assets at the temporary
bank account. The company can dispose of the registered capital only
after its registration in the Commercial Register.
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| 4. |
The registration of the company into the Commercial Register must be filed
on special forms. The application must contain the following enclosures:
Incorporation Agreement (Incorporation Act), a document confirming the
company seat, business license, statement on authenticity and notarised
signature of the General Director, excerpt from the criminal record
registry, certification of deposit of the registered capital and a
document about the registration of the foreign shareholder – legal entity.
According to the Law, the registration into the Commercial Register must
be effectuated within the period of 5 days, whereas the respective
authorization must be submitted within this deadline. The resolution is
then issued and delivered in the course of approximately 5 working days.
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| 5. |
The Company must undertake to register at the Tax Office within the period
of 30 days upon registration in the Commercial Register.
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| 6. |
Registration of the company at the relevant Health Insurance authority,
i.e. Social Insurance Institution can be effectuated only upon the
conclusion of all employment contracts.
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| 7. |
Registration of the company at the relevant Health Insurance authority,
i.e. Social Insurance Institution can be effectuated only upon the
conclusion of all employment contracts.
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