Tax and accounting regulations

Summary of Requirements for an S.r.o Limited Liability Company:

General Information
Type of Company S.r.o – Limited Liability Company
Timescale to incorporate 2 weeks
Corporate Taxation 19%
Double Tax Treaty Access: Yes
Directors
Minimum No. Required 1
Local Director Required No
Publicly accessible information Yes, the names of the directors do appear on public record
Location of Meetings Anywhere
Shareholders
Minimum No. Required 1, can be a corporate shareholder
Publicly accessible information No, the names of shareholders do not appear on public record
Location of Meetings Anywhere
Company Secretary
Required No
Local Secretary Required N/A
Registered Office Required Yes
Additional Information A Statutory Representative is required to represent the company. This must be a natural person. Must be appointed in a General Meeting of the company
Share Capital
Standard Currency Czech Crown (CZK)
Standard Authorised CZK 200,000 / €7,500.00
Minimum Paid Up Capital CZK 100,000 / Approx. €3,500.00.
Additional Information The company is required to have a reserve fund (this is principally a bookkeeping entry):

 

  • 1st Year – 10% of net profit
  • Year 2 onwards – 5% thereafter until the reserve reaches 10% of the companies registered capital
Accounting & Compliance
Requirements to prepare Accounts Yes
Requirement for Audit Audit is required if at least two of the following criteria are met:

 

  • Balance sheet exceeds CZK 40 million (€1.4 million)
  • Net turnover exceeds CZK 80 million (€2.8 million)
  • The number of employees exceeds 50
Local Auditor Required Yes, if Audit is required
Requirement to File Accounts Yes
Requirement to file Annual Return Yes
Additional Information
VAT 20%.
Bank Account Opening A bank account can be opened without the need for presence

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