Sign in
  • Home
  • Media
    • Articles
    • Innovations
    • Insights
    • Interviews
    • Marketing
    • News
  • Magazine
  • Studies
    • AI in SME studies
    • Other studies
  • CEE Conference
  • SME Banking Conversations
  • Webinars
  • Partners & Members
  •  
Sign in
Welcome!Log into your account
Forgot your password?
GDPR
Password recovery
Recover your password
Search
Friday, August 12, 2022
  • Sign in / Join
Sign in
Welcome! Log into your account
Forgot your password? Get help
GDPR
Password recovery
Recover your password
A password will be e-mailed to you.
SME Banking Club | Magazine
  • Home
  • Media
    • AllArticlesInnovationsInsightsInterviewsMarketingNews

      Survey: The Czech entrepreneurs and the digital business solutions

      UniCredit Bulbank reports significant growth in the electronic signing of banking…

      GOaccounting for micro-entrepreneurs at BNP Paribas Bank

      New guarantee program for loans and factoring limits at Millennium Bank

  • Magazine
  • Studies
    • AI in SME studies
    • Other studies
  • CEE Conference
  • SME Banking Conversations
  • Webinars
  • Partners & Members
  •  
Home Media Articles How can Ukrainians start a business and open a business banking account...
  • Media
  • Articles

How can Ukrainians start a business and open a business banking account in the Czech Republic?

By
Tomislava Karakay
-
May 10, 2022
0
Facebook
Twitter
Pinterest
WhatsApp
    Source: Photo by Radek Kozák on Unsplash

    Opening a business abroad by foreigners is a common practice. However, this decision raises many questions about what form of business to choose and what documents will be required to prepare and register their businesses. In the example of the Czech Republic, we will consider the conditions for starting a business by Ukrainian citizens in the above country.

    It should be noted that the conditions for starting a business in the Czech Republic are almost the same, both for citizens of the country and for foreigners, particularly for Ukrainian citizens [3].

    If a Ukrainian citizen is a temporarily displaced person and has a temporary protection visa, such person may become a private entrepreneur in the Czech Republic. Among the necessary documents, it is worth noting a document that identifies a person with a temporary protection visa, as well as an address registration, the proof of no criminal record. In addition, future entrepreneurs will have to pay an administrative fee of about EUR 40. After this stage, they will be able to fill in the application for registration [1]. Ukrainian citizens who have previously lived in the Czech Republic can also apply to become private entrepreneurs if they have other reasons to stay in the country with appropriate visas (such reasons may include study, family reunification, work, etc.), or have already received permanent residence in the Czech Republic [2].

    As for a limited liability company, in the Czech Republic, such type of a company can have only one founder. First of all, the future founder should determine the scope of activities and choose the company’s original name, as well as the division of powers and the authorized capital (it could be started from CZK 1, but the recommended amount is about EUR 4000). It should be noted that the registration takes place at a notary. The company must be registered in the Trade Licensing Office. Consequently, the founder will need to open a temporary account in a bank with authorized capital, and after the approval by the Municipal Court, the temporary account will be closed, and the constant business account will be opened. After that, all necessary documents must be submitted to the Municipal Court. The next step is to register the company in the Tax Service [3].

    What documents are needed to register a company in the Czech Republic?

    • The copies of the passports of all founders and directors.
    • The proof of no criminal record in Ukraine and the Czech Republic.
    • The statements of directors agreeing to enter them in the Trade Register.
    • A consent of the premises owner for registration of the legal address.
    • A request for registration in the Trade Register. Notarization of the signature.
    • An application for payment of the amount of authorized capital.
    • A list of statutory activities of the company [3].

    Another necessary step is to open a business account in one of the Czech Republic’s banks. Today we will consider what documents will be needed for opening a business account at Moneta Money Bank and Raiffeisenbank in the Czech Republic.

    The necessary documents for the self-employed person at Moneta Money Bank are two identity documents of the founders, an ID number (an international passport or the Czech residence permit), as well as a trade license or a concession document, or a document giving the right to do business [4]. There are two identity documents for the legal entity and an extract from the Commercial Register or another legal document confirming the legal entity [5]. Moreover, all foreign documents have to be translated into the Czech language [6].

    The necessary documents for private entrepreneurs at Raiffeisenbank in the Czech Republic are an ID card or a passport. Legal entities should provide an extract from the company’s register (it must not be older than six weeks, notarized, apostilled, and officially translated by an interpreter from the chamber of court-approved interpreters from this list: The Chamber of Court Appointed Interpreters and Translators of the Czech Republic (kstcr.cz). Moreover, this document must contain a legal form, a registered office address, a date of establishment, a statutory person, and an identification number [7].

     

    Sources:

    1. https://proukrainu.blesk.cz/fop-u-chekhiji/.
    2. https://metropolevsech.eu/ua/potrebuji-resit/podnikani/za-jakych-podminek-mohou-cizinci-podnikat-v-ceske-republice/.
    3. https://migrant.biz.ua/chexiya/biznes-cz/biznes-v-chekhii.html?fbclid=IwAR2n4YsNTD6cw3bCdSLcartPoFiZp0pL9kTfdxMzyZcCFpnPmppcMqVqzrk.
    4. https://www.moneta.cz/caste-dotazy/odpoved/jake-doklady-potrebuji-k-zalozeni-konta-pro-podnikani-jako-zivnostnik.
    5. https://www.moneta.cz/caste-dotazy/odpoved/jake-doklady-potrebuji-k-zalozeni-konta-pro-podnikani-jako-pravnicka-osoba.
    6. The information was provided by Moneta Money Bank as part of a personal consultation.
    7. The information was provided by Raiffeisenbank in the Czech Republic as part of a personal consultation.
    • TAGS
    • Business
    • Business account
    • Czech Republic
    • Documents
    • Moneta Money Bank
    • Raiffeisenbank
    • Ukrainians
    Facebook
    Twitter
    Pinterest
    WhatsApp
      Previous articleEight months for free for a POS lease by Pekao Bank
      Next articleThe ING e-POS application is a new offer at ING Bank Śląski
      Tomislava Karakay
      CEE Marketing Manager

      RELATED ARTICLESMORE FROM AUTHOR

      Because of this mistake, banks can lose hundreds of thousands of customers a year

      SME Banking Conversations: Karol Leszczyński (Comarch)

      Receivable Finance: Economic, Regulatory, and Technological Impact in 2022

      About SME Banking Club

      SME Banking Club is an international networking platform of business bankers aimed to provide relevant information on what banks and financial companies are offering for entrepreneurs, micro-, small and medium enterprises (SMEs).

      YouTube Channel

      https://youtu.be/RbJYLLPvNLo

      Latest posts

      Survey: The Czech entrepreneurs and the digital business solutions

      Tomislava Karakay - August 11, 2022 0

      UniCredit Bulbank reports significant growth in the electronic signing of banking documents

      Tomislava Karakay - August 11, 2022 0

      GOaccounting for micro-entrepreneurs at BNP Paribas Bank

      Tomislava Karakay - August 9, 2022 0

      New guarantee program for loans and factoring limits at Millennium Bank

      Tomislava Karakay - August 9, 2022 0

      ING makes it easier for companies to invest in sustainable development

      Tomislava Karakay - August 8, 2022 0

      EDITOR PICKS

      SME Banking Conversations: Karol Leszczyński (Comarch)

      July 15, 2022

      Receivable Finance: Economic, Regulatory, and Technological Impact in 2022

      July 8, 2022

      Digitization Strategy

      June 29, 2022

      POPULAR POSTS

      Qualified Electronic Signature (e-signature) in Santander Leasing

      November 10, 2021

      Webinar: AI in SME Financial Sector

      June 29, 2021

      Loan with a fixed interest rate – a new offer for...

      November 10, 2021

      POPULAR CATEGORY

      • News241
      • Articles73
      • Latest Webinars37
      • Webinar33
      • Interviews30
      • Innovations22
      • Events14
      • Media4
      ABOUT US
      SME Banking Club is an association of business bankers aimed to provide relevant information on what banks and financial companies are offering for entrepreneurs, micro-, small and medium enterprises (SMEs).
      Contact us: cee@smebanking.club
      FOLLOW US
      © SME Banking Club. Managed by Gidulyan Company PLC and GG Company sp. z o.o.