Frequently asked questions
The opportunity to create a business from the comfort of your own home through the internet is our goal. Modern technology already offers all the necessary tools to do so, but the legislation is lacking. That’s why such a procedure is not possible in the Czech Republic right now. However, notaries welcome the shift to the online environment while also stressing the importance of secure communication and confirmation of identity. If regulations were to underestimate the need to confirm the identity of those founding companies, a large number of businesses will be created where the actual owners will not be able to be determined. These types of firms avoid regulatory bodies and their actions have a very negative effect on economic activity in the country. There are already some 15,000 in the Czech Republic and that number could explode!
A single day. Don’t forget your personal documents, such as your ID and confirmation of consent from the owner of the property where the business will be headquartered if your business will not be located at a property you own. Also, if your business requires proof of qualifications or guarantees from a third-party, don’t forget to bring them along as well.
They also have to go to a notary’s office because there is no other way to found an s.r.o. according to Czech legislation. While you have to go through unnecessary formalities with a middleman, such as providing a power of attorney, you can do the same by yourself with a notary. Founding an s.r.o. is described in three easy steps here.
Rates are set by the Ministry of the Justice of the Czech Republic and notaries calculate the cost of their services according to these regulations. You don’t pay any commissions or fees to middlemen or administrative costs.
You have to pay for their services, so you pay the rates set by the Ministry of Justice and commissions and fees for the middleman’s services. Many middlemen claim to offer the same price as notaries, but these are usually conditioned with the purchase of other services, such as leasing a virtual headquarters for several years in advance.
There are no guarantees with middlemen. You provide them with a power of attorney and your personal data without the guarantee of a legal obligations. Previously-founded companies can be burdened by unpaid promissory notes not listed in their accounting, and no affidavit will save you when creditors come calling.
It’s not. Just go to the notary’s office, the trade license office, and to the bank. The notary will then enter the company into the business registry and you can launch your business. You don’t have to go to court or wait for a decision. There are no deadlines for opinions or whatnot. Everything can be done in a single day without complicated red tape.
Any notary in the Czech Republic can help you found an s.r.o. You don’t need to go to the one closest to your domicile or your business’s headquarters. Choose the one most convenient for you. You can find a list of all 450 notaries and their contacts information here.