The Czech Republic has come a long way in the business world since its inclusion in the European Union in 2004. It is now known for its stable economy, low tax rates for EU citizens and excellent business conditions for foreigners. It also has excellent business links with China through a strategic partnership.
The official language is Czech, but the country, and particularly its capital city, Prague, are known as English-speaking hubs. The business environment is in a period of growth following the lowering of corporation tax to 19%, and several financial incentives are now in place in order to continue this growth. For instance, manufacturing investments are entitled to 10 years’ corporate tax relief and technological and new investment costs are subsidised by up to 50%.
Benefits of the Czech Republic
The Czech Republic is exceptionally business-friendly, with options for 2-year business visas, and licenses being extremely easy to obtain. There are no requirements for specific qualifications or experience, and a business license allows you to carry out 80 different activities.
The Czech Republic is a highly respected and stable country, with membership of the EU, NATO, the OSCE and the Council of Europe. Its infrastructure is advanced, with excellent access to medical funds and pension grants, and its banking is exceptionally well-priced for transactions.
Czech Republic is home to the original Pilsner beer and also to Alpha Citizen!
The Czech Republic’s infrastructure benefits from a highly-skilled workforce that stems from an excellent education system. With regards to liability, companies can be structured simply with no personal liability for company members, only one registered founder and a minimum registered capital requirement of 1 koruna (0.04 Euros).