Have you received a great idea for a business or have you decided to expand your business activities abroad, but you do not have time to set up the new company? One option is to purchase a newly created company, a so called “ready-made firm”. In Slovakia and in the Czech Republic, there are a number of specialized companies dealing with the purchase and sale of companies. Below you can read about how to choose the right one and what benefits can you receive when buying a business.
Entrepreneurs are most often interested in the purchase of “clean” companies that have been established for the purpose of their resale. They can be called also as “ready-made firms”. Their main advantage is that you can begin to realize your business activities earlier than in case of setting up a new business. Of course, the registered capital is paid up in full, the company registration number is already available, just like the registration of the tax number at the tax authorities. One of the most common requirements of entrepreneurs is the purchase of companies which have already performed VAT registration, which you can find here – sale of a VAT payer firm.
Another option is to purchase a company with history. In most of the cases, it is about companies with which business activities had been performed in the past and the owner (partner) of which is not interested in continuing their activities. The reasons could be several. For instance, retirement, low sales or complete cessation of the business activity and employment in the form of a permanent employee. What are the benefits, however, of purchasing a company with a history? The main reason is the credibility of the business name from the aspect of business partners, furthermore, at the government offices (tax authority, customs authorities, social insurance fund, etc.). Positive is also the financial history. The company may have a positive economic result and may also be at a loss at the time of the sale, by which a certain benefit emerges for the buyer. In case of a planned expansion to the market of the Czech Republic, we recommend the sale of companies in the Czech Republic.
One of the primary responsibilities of each entrepreneur is the bookkeeping. When purchasing a company, we provide a complete agenda of accounting services, including also business consulting. Provision of a virtual head office in Slovakia, in the Czech Republic and in Hungary at lucrative addresses. A popular service provided by virtual head offices is the office service (receiving and sending mail, scanning of documents, own phone number, etc.).
In order to successfully acquire a business share in a company, it is necessary to issue a number of documents, pay fees and visit a number of authorities. All the above tasks are performed by us on behalf of you, on the basis of a power of attorney. We can save you time but also patience with the demanding acticity concerning the changes in the Trade Register.
If you are interested in our services, please contact us by phone or by e-mail.
Despite the growing tendency of bureaucratic hurdles, according to the model of business environment in the Slovak Republic, starting a business in the Czech Republic is still worth it.
Quick management of applications, good communication with the authorities, absence of paying a security deposit during the VAT registration – these are further advantages that attract investors and businessmen from the neighboring countries. The expansion to the foreign market of the Czech Republic is not hindered by any excessive bureaucratic demand in the form of 2 months of “administration” and unnecessary costs for the establishment of a company, compared with the Slovak Republic. The following information will show you the process of setting up a limited liability company in the Czech Republic, including also the fees and deadlines related to the establishment of a business organisation.
The procedure for establishing a company in the Czech Republic is similar to that in Slovakia. It is essential to issue the complete documentation according to the legal requirements, to visit some authorities and institutions and to pay the administrative fees.
Before starting a business, it is necessary to think of an appropriate business name which must be unique and distinctive from another business name already registered in the Trade Register – any duplication can be checked at the Trade Register. Another essential part of your business is the head office of your company, the appropriate scope of business, the amount of the registered capital, the determination of the administrator of the deposit, the appointment of the executive and partner in the Czech company.
We can set up a company for you in the Czech Republic within 24 hours. In this case, personal presence at the notary in the Czech Republic shall be necessary.
The most important document for the establishment of companies in the Czech Republic is, of course, the articles of association or the deed of foundation. Unlike in Slovakia, it is necessary to issue it in the form of a notarial deed. Normally, also an authorization to conduct business activities is attached, here in Slovakia, known as a certificate of licensed trading, respectively, trade license. This authorization is issued by the local trade licensing authority. For this purpose, it is necessary to ask also for an extract from the registry of criminal records, which shall, however, be attached only in case of persons who are not citizens of the Czech Republic, respectively, who do not have a permanent address in this country. The duly signed declaration of honour of the executive shall be attached, as well. Its purpose is to make a declaration about the consent of the executive to the performance of the executive function, legal capacity and fulfilment of conditions for conducting business. To demonstrate the disposition rights of the head office of the company, the consent of the owner of the real-estate is normally sufficient. The registered capital must be paid into a bank account. The bank will issue a certificate to you which must be a part of the annexes based on which the Trade Register will perform the registration of the company.
In our experience, it can be stated that the establishment of a business organisation in the Czech Republic usually takes 3 weeks. The deadline of the trade register to perform the incorporation is 5 working days. Currently it is possible to set up a company also expressly, in 24 hours. However, this requires personal presence in the Czech Republic.
For the establishment of a company, it will not be necessary for you to travel to the Czech Republic. A notarial deed can be done on behalf of you on the basis of a power of attorney.
Contact us by telephone on working days between 7:30 and 17:30
