go to :: The Better Payment Practice Campaign

Tomasz Nowak Consulting

go to :: home page
go to :: services go to :: contact us go to :: intranet
go to :: CEE knowledge base go to :: maps & charts go to :: jobs & co-op go to :: research
bialalinia

Procedure, cost and time-scale of incorporation of Limited Liability Companies (Spolecnost s rucenim omezenym) in the Czech Republic (2006)

Procedure:

  • Preparation of drafts of Articles of Association,
  • Signing of the Memorandum and the Articles in front of a notary public attesting the signatures of the founding owners,
  • Provision of specimen signatures of individuals occupying positions on the Board of Directors (in the presence of notary public attesting the signatures),
  • Application for trading licences from the Trade Licence Office,
  • Opening of a business bank account,
  • Transfer of the Share Capital,
  • Registration at the National Court Register.

Documents required:

  • Passports or national IDs of directors and shareholders,
  • Certificate of Incorporation of each corporate shareholder with its official translation,
  • Certificates of Power of Attorney for persons acting as proxies for shareholders and directors,
  • Extract from the Property Register of the future registered office,
  • Lease Agreement or an approval of the owner of the office (non-residential premises required),
  • Statement of Fulfilment of the Legal Requirements made by each director,
  • Disclosure Certificate from the Criminal Records Bureau in respect of each director,
  • Declarations of Honour issued by directors that are not Czech citizens ( that they meet all legal requirements,
  • (if applicable) Official valuation of contributions in kind (non-pecuniary) to the share capital.

Minimum share capital: 200,000 CZK (7,100 EUR/ £ 5,000).

Total cost:

    From 30,000 CZK (1,075 EUR/ Ł 750) to 100,000 CZK (3,500 EUR/ £ 2,500); 53,000 CZK (1,900 EUR/ £ 1,300) on average. Estimate made for a company registered with       200,000 CZK share capital, exclusive of any VAT (if applicable).

    The total cost consists of court registration fees and fees for announcement in official journal, public notary remuneration, trade licence fees, legal advisorís fees and official/sworn translation fees.

Duration: from 4 to 8 weeks on average.

Knowledge Base   Maps&Charts   Services   Contact Us   Terms of Use   Copyright © 2004-2010 Tomasz Nowak Consulting Limited