History of the Czech Republic
The Czech Republic has existed officially since 1969 and has experienced a very complex history over the past several centuries. The country only achieved independence 24 years later in 1993 when it separated from Slovakia. This split marked the end of the State of Czechoslovakia. At the heart of Europe, and surrounded by other countries, the Czech Republic joined the European Union in 2004.
The Czech Republic as an Onshore Centre
The Czech Republic does not have the most attractive tax rates in Eastern Europe but encourages Foreign Direct Investment with a number of incentives enabling them to reduce taxes applicable to both individuals and companies. Companies can therefore benefit from tax breaks for a period of five years after their formation.
The different types of onshore entities available in the Czech republic are:
- Private company.
- Public company.
- General partnership.
- Limited partnership.
Types of Czech Companies
Setting up a company in the Czech Republic takes around 20 days.
|Types of companies
||Number of Shareholders, Members or Partners
|Private Limited Company
||CZK 200,000 minimum
||Minimum of one, maximum of 50 shareholders, limited liability.
|Public limited company
||Minimum of one, limited liability.
||At least two shareholders, unlimited liability for debts and obligations, liability is joint and several.
||Minimum of two partners, one general partner must assume unlimited liability but all limited partners enjoy limited liability.
Ministry of Industry and Trade
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