Setting up a new business in the Czech republic. Content of this lecture: Overview of types of business in CR Bureaucratic hurdles Comparison with Portugal.

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Presentation transcript:

Setting up a new business in the Czech republic

Content of this lecture: Overview of types of business in CR Bureaucratic hurdles Comparison with Portugal and the UK

Content of this lecture: Overview of types of business in CR Bureaucratic hurdles Comparison with Portugal and the UK

Types of business Limited liability company Branch of a foreign company Joint-stock company Partnerships

Types of business Limited liability company Branch of a foreign company Joint-stock company Partnerships

Limited liability company Společnost s ručením omezeným (s.r.o.) A company owned by up to 50 shareholders No shares issued, but details entered in Commercial Register Liability of individual shareholders protected from debts of company Headed by at least one Executive Starting capital CZK 200,000 (approx. €8,000) Must be licensed to trade in a particular activity

Types of business Limited liability company Branch of a foreign company Joint-stock company Partnerships

Branch of a foreign company Organiyační složka (o.s.) Not recognised as a separate company Headed by the Branch manager Must register in the commercial register

Types of business Limited liability company Branch of a foreign company Joint-stock company Partnerships

Joint-stock company Akciová společnost (a.s.) Issues share certificates to its’ owners Headed by the Board of directors under supervision from the Supervisory body 1 / 3 rd Supervisory board elected by workers (if more than 50) Start-up capital CZK 2 million (approx. €80,000) Must be licensed to trade

Joint-stock company Akciová společnost (a.s.) Issues share certificates to its’ owners Headed by the Board of directors under supervision from the Supervisory body 1 / 3 rd Supervisory board elected by workers (if more than 50) Start-up capital CZK 2 million (approx. €80,000) – or CZK 20 million (€800,000) Must be licensed to trade If shares offered publically

Types of business Limited liability company Branch of a foreign company Joint-stock company Partnerships

In general: –A group of people working together under the same name. Three types: –General partnership (Veřejná obchodní společnost) –Limited partnership (Komanditní společnost) –Silent partnership (Tiché společnostvi)

Content of this lecture: Overview of types of business in CR Bureaucratic hurdles Comparison with Portugal and the UK

Bureaucracy Commercial code Stock exchange Trade licenses Commercial register

Overview of types of business in CR Bureaucratic hurdles Comparison between Portugal and the Czech Republic

Czech Rep rank in 2009 Portugal rank in 2009 UK rank in 2009 Doing Business75486 Starting a Business86348 Dealing with Construction Permits Employing Workers Registering Property Getting Credit Protecting Investors88389 Paying Taxes Trading Across Borders Enforcing Contracts Closing a Business International comparisons Based on information from the World Bank

PortugalCzech RepUnited Kingdom Score Rigidity of Employment Index Difficulty of Hiring Index33 11 Rigidity of Hours Index Difficulty of Firing Index5010 Firing costs (weeks of salary) Employing Workers Indicators

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