The business relations between Czech Republic and the United Kingdom (UK) have intensified in the last years. For example, the number of projects between the two countries has increased by six times compared to three years ago, on industries such as trade, agriculture or research. Investors interested in opening a company in Czech Republic can have numerous business prospects in the field of trade and our team of Czech lawyers can offer more details on how to invest in this industry.
Czech Republic applies a new legislation on the bank accounts. Foreign businessmen who want to open a company in the Czech Republic are required to set up a corporate bank account for their business and the requirements may vary depending on the bank with which they are collaborating. However, both legal entities and natural persons must also respect the banking legislation available here, on which our team of Czech lawyers can provide legal advice.
Foreign investors who want to open a company in Czech Republic can have very good business prospects in this country. Czech Republic offers a stable and attractive economy, but also numerous investment incentives, provided by several state institutions amongst we mention CzechInvest, one of the main agencies offering relevant investment funding to both local and foreign businessmen. Based on the value of the investments carried out in 2016, CzechInvest will provide funds of CZK 64 billion and our team of Czech lawyers can offer more details on the legal requirements that have to be met in this case.
Czech family firms, usually incorporated as limited liability companies or sole proprietorships, can benefit from the interest the local government has in such businesses. An important aspect related to the family companies developed in Czech Republic refers to the fact that their presence started to have positive effects on the local market and, thus, the representatives of the country are searching for methods to make such businesses more competitive. Our team of lawyers in Czech Republic can offer more details on the registration of a company here.
The natural persons or legal entities interested in purchasing a property in Czech Republic have better conditions when applying for a loan issued by a local bank. The mortgage market in Czech Republic reached a new record at the level of November 2016, when the interest rate applicable to mortgages was established at 1.77%. An important aspect related to this market is that the foreigners can get a mortgage in a faster manner, as they are no longer required to first set up a company here, prior to purchasing a property. Our team of Czech lawyers can offer legal assistance to foreigners who are interested in the lending conditions applicable in this country.
The Czech authorities have attracted European funds with a value of 700 billion crowns in the period between 2007 and 2013. However, the local authorities are aware of the fact that the country can attract even more funding provided by the European Union (EU) and, in this sense, they are trying to implement new strategies for the regional funding programs. Our team of Czech lawyers can provide foreign investors with more details related to legislation applicable for EU funding programs.
Companies in Czech Republic are testing a new electronic cash register system, which will provide reliable information to the state’s authorities in terms of cash transactions completed across the country. The system entered into a one moth trial period and it will become operational from the beginning of December 2016. Persons who want to open a company in Czech Republic will also need to implement the system, which is now tested for the reduction of tax evasion and increasing the real revenues obtained by various businesses. Our team of Czech lawyers can offer more details on the regulations related to the new electronic cash register.
The Czech agricultural system will soon improve its general conditions available for various types of investors, due to a new measure of the Ministry of Agriculture in Czech Republic, which has as a main target the development of less favoured regions of the country. Thus, both local and foreign investors performing various agricultural activities in the less developed areas can benefit from incentives presented in the form of loans. Investors can loan up to CZK 2 million. Moreover, the Czech government can also subsidise a part of the interests for such loans. Businessmen who want to set up a business in the field of agriculture can receive more details on this matter from our team of lawyers in Czech Republic.
Czech Republic can be mentioned as one of the most beautiful countries in the European Union (EU), which offers a wide range of landscapes. Czech Republic is famous for its beautiful castles and their gothic architecture and it is no wonder that the tourism in this country flourished over the years. According to the latest data provided by the Czech National Bank, the tourism industry increased here by 5,3% in the first six months of 2016, as an effect of the growing number of incoming tourists, accounting for 4,1 million (in the same period). Opening a company in the field of tourism should represent an advantageous move for foreign investors and our team of lawyers in Czech Republic can provide more details on this matter.