TMF Group in Czech Republic can help you to enter the market with speed, safety and efficiency. When working with us, you will have a single point of contact to manage your legal set-up, and to help keep your financial operations and HR administration in compliance with local regulations.
When expanding to Czech Republic, keep in mind that:
- Legislation changes often and business must put in an extra effort to keep their operations in compliance
- The country is growing after several difficult post-crisis years; GDP is expected to grow by 2.6% in 2015 and level of public debt is under control
- When expanding to Czech Republic you will have access to highly skilled talents and good infrastructure at a lower cost than in Western Europe.
Our Czech team has the local knowledge and the backing of a group with global reach, helping you to do business seamlessly across borders. We support each stage of your company's life cycle, starting with initial set-up through to the complexity of your day-to-day financial operations.
Setting up a business in Czech Republic
TMF Group is your trusted partner to help you to set-up a new business in Czech Republic.
Our team of professionals will support you on each stage of your global expansion:
- Incorporation of a company or purchase of one of our ready-made companies.
- Registered address (domiciliation): we ensure proper registration with the local authorities; we diligently process all communications delivered to the registered address in the Czech language on your behalf.
- Electronic data box administration: we can also help you to establish your electronic online data box, as well as manage it on your behalf. This is compulsory in the Czech Republic and is used for all official communications between the Czech state authorities and your legal entity.
- Management services: our qualified and experienced senior staff can assume sole or joint responsibility for the day-to-day management of your local company; our network of seasoned professionals covers legal, accounting and tax and is happy to let you draw on their experience. As your local representative, we help maintain your entity's good standing in accordance with local requirements and we're happy to work with your local advisers in tax and legal to do this. We're completely independent global service provider.
- Registration with tax authority and social and health insurance.
- Adaptation of your human resources policies: adaptation or review of standard employment contracts, review of company policies for local compliance, assistance with recruitment documentation and employee registrations (including visas, working and residence permits for expatriates).
Once registered, we can offer you a flexible and tailored solution to assist you with local back office operations, ongoing accounting, tax, payroll and statutory compliance and filing obligations, as well as your management reporting requirements.
The most common types of business entities when entering the Czech market are:
- Limited liability company (s.r.o.)
- Joint stock company (a.s.)
- Branch of a foreign person (o.s.) a branch is not a legal entity but it has to be registered with the Commercial Registry.
Several legal documents are required in order to form a company, such as a trading licence, a registered office, a bank account, and several documents related to the shareholders and the company executives or representatives.
Subsequently, the newly incorporated company needs to register with the tax office and, in case it has employees, with the social and health insurance bodies.
Are you planning to expand into the Czech Republic? Make an enquiry!