Due to the current situation in Ukraine, a growing number of businesses are forced to leave the country and look for new locations for the continuation of their business activities. The Czech Republic is one of the most frequently chosen locations by Ukrainian entrepreneurs due to the numerous possibilities it offers for both entrepreneurs and businesses. Also due to the number of support measures the Czech government introduced to help the fleeing citizens and businesses.
Currently, thousands of companies with Ukrainian capital (KIEV) operate in Czech, and with the current situation, this number will undoubtedly multiply in the near future.
Czech Republic welcomes Ukrainian entrepreneurs
The most important facilitations for Ukrainian citizens in the Czech Republic:
- The long-term residence permit for business purposes is issued for 24 months and can be renewed repeatedly
- Privilege to access the labor market following a more simplified procedure.
- Benefits from social security based on humanitarian reasons.
- Free access to the health care system and psychological help
- Free education for children
- Financial bonus at account opening
- The possibility of establishing a business license
- Possibility of registration in the Labour Office
- Job offers directly for Ukrainian citizens
- Free online Czech course for Ukrainians
Establishing a company in the Czech Republic
Entrepreneurs from Ukraine have the possibility to open a company or a branch in the Czech Republic. The most popular form of business structure in the Czech Republic is a limited liability company (s.r.o.). The LLC can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Simple procedure for setting up a company in the Czech Republic:
- Adopting the Memorandum of Association / Foundation Deed by the Notary Public
- Arranging consent to the provision of the company’s registered office address
- Registering the necessary trade licenses
- Opening a bank account for contribution payments. This applies if the contribution is more than CZK 20,000, otherwise, the contribution can be paid to the contribution administrator.
- Registration of the company in the Commercial Register of the competent District Court.
There are no restrictions concerning the nationality of shareholders for the establishment and registration of a Czech company, and there is no need to prove any residence permit. Ukrainians may setup a Czech republic company.
Moving a company from Ukraine to the Czech Republic
How can Damalion help?
Damalion experts provide full-range assistance to Ukrainian companies planning to enter the Czech market and help with navigating the country-specific legal requirements, starting from advisory on choosing an ideal form of business structure to a smooth incorporation process.
Starting a business in the Czech Republic.
The extent of support from Damalion.
- Incorporation of companies/legal entities in accordance with the Czech law
- Locating accommodation at a location of your choice
- Legal advisory in the field of the Czech Republic corporate, tax, and labor law
- Employment of staff: preparation of employment contracts
- Registration of a company and employees for health insurance
- Accounting services
- Human Resources services
- Corporate secretarial services
- GDPR compliance
Contact your Damalion expert now to open your company in Czech Republic.
