A limited liability company is founded by signing a partnership agreement if founded by two or more individuals. The founders can be both natural and legal persons, both Czech and foreigners. One individual could be only one shareholder at most of three limited liability companies. The maximum number of shareholders is 50.
The minimum deposits
Once the company is duly founded, the shareholder(s) must pay the minimum prescribed amount of their contribution to the registered capital. Subsequently, the appointed managing director(s) must apply for the necessary trade licenses. Minimum deposit of each shareholder is 20 000 CZK in accordance with applicable legislation. On the establishment of limited company can attend each shareholder only by one deposit. Minimum share capital is 200 000 CZK.
Registering LLC (SRO in Czech)
As soon as the above conditions have been fulfilled and the company obtains the respective trade licenses, the appointed managing director(s) may file a petition for registration of the company in the Commercial Register. If there are no errors in the petition for registration of the company in the Commercial Register, the company will be registered within five working days. The limited liability company comes into being as a separate legal entity at the moment of its registration in the Commercial Register. The average time needed to set up a business in the Czech Republic is approximately 30 days.