Key benefits

The Czech Republic is located in Eastern Europe and is bordered by Poland, Germany, Austria and Slovakia. Until 1993 the Czech Republic was unified with Slovakia however since separation the country has undergone major political, social and financial reforms. The Czech Republic is a democracy and a member of the EU, NATO, the OECD and the Council of Europe. The capital city is Prague.

The Czech Republic has made significant progress with regards to liberalization of the business environment; 85% of the country’s GDP is derived from private businesses and corporate taxation has been cut from 26% to the current rate of 20% resulting in a significant increase in foreign investment. The Czech Republic has also introduced a range of financial incentives to stimulate foreign investment including ten years corporate tax relief for new manufacturing investment, payment of 50% of costs for new technology and business investment and numerous substantial job creation and training grants.

In 2009 this period of stable and robust economic expansion halted as a result of the global downturn however the Czech Republic has weathered the turmoil relatively well with a GDP Growth of 1.7% in 2011.

Key benefits of the Czech Republic:

  • Stable political environment with EU and NATO membership
  • The Heritage Foundation ranked the Czech Republic 15th out of 43 countries in the region of Europe with regards to economic freedom. The Czech Republic ranks higher than the regional and global average.
  • The Czech Republic is one of Europe’s most industrialized nations with a highly skilled workforce.
  • Liberal, western business culture with English widely spoken
  • Developed and stable banking system with most a number of international banks located in the Czech Republic
  • Low corporate tax rate of 20%

There are numerous international banks operating in the Czech Republic however setting up a corporate bank account can be challenging. Eltoma can assist you in bank account opening using our local contacts and knowledge.

For additional information on company incorporation and bank account opening in the Czech Republic please contact us.

Take the next step, we are here to help.

Register a The Czech Republic company.
Open a The Czech Republic bank account.

  Resources:

 

Key amendments to the Singapore Companies Act

Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.

Panama Law 52: Updated legislation for all legal entities

Panama Law 52: Updated legislation for all legal entities

Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.

Important 2016 reporting deadlines for BVI Financial Institutions

Important 2016 reporting deadlines for BVI Financial Institutions

Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.

Thinking of relocating your business to Singapore? Let us help you!

Thinking of relocating your business to Singapore? Let us help you!

Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.

How to register a branch in Cyprus

How to register a branch in Cyprus

Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.

To Brexit or not to Brexit?

To Brexit or not to Brexit?

To Brexit or not to Brexit - this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in. Why has this been such a difficult decision to decide upon?

Selecting a Management Information System

Selecting a Management Information System

A management information system or MIS is used to assist in the analyses and formulation of business strategy, as well as facilitating operational objectives. Selection of an MIS can help increase understanding and control in an organisation and can be scaled to suit the complexity of most modern businesses. If the right MIS is selected and it is implemented correctly it can provide a competitive advantage for the organisations utilising it.

Windows 10 update: having issues with the installation?

Windows 10 update: having issues with the installation?

By now you have probably about Windows 10, the latest operating system developed by Microsoft.