Even faster company formation in the Czech Republic - you can have a company in a day

10. 2. 2023
Even faster company formation in the Czech Republic - you can have a company in a day

As of January, 2023, as a result of a change to the Trade Licensing Act and the Public Registers Act, it is possible to incorporate legal entities without a trade license.

The amendment of these laws was a consequence of the obligation to transpose the Digitalization Directive. However, in drafting the law, the government also used this possibility to simplify the process of establishing legal entities. Thus, the amendment removed the condition of prior obtaining of a trade license for the purpose of incorporating a company (if the company's founding legal document, legale.g., the Memorandum of Association or Articles of Association, contained scope of business that can only be carried out on the basis of a trade license).

Therefore, companies will be able to perform business earlier, but they still can perform business only after obtaining a trade license.

In practice, this change means that if the founder of the company has prepared all the necessary documents (such as the consent to the location of the registered office, or the affidavit and consent to entry in the Commercial Register of the managing director etc.), it will now be possible to establish a simple company within one day and under certain conditions without visiting a notary's office (more on this topic in our article Setting up an LLC online - a reality in Germany, what is the practice in the Czech Republic?).

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