Comparison of costs and time required to set up and purchase of an a.s.
Deciding whether to establish an a.s. or buy a ready-made company, ready to start business immediately? Made-to- measure and purchased joint stock companies also have their advantages. But if you decide to found your company, keep in mind that the entire process is about 10 days longer and that it works out just slightly more cost effective. Look at the comparison of costs and time, and judge for yourself which one is more interesting for you.
Establishment costs for an a.s. and transfer of a ready-made a.s.
|Founding an a.s. yourself||Transfer of an already founded ready-made a.s.|
|Duty stamp to be paid to the Commercial Register||12,000 CZK||12,000 CZK|
|Duty stamp to be paid to the Trades Register||1,000 CZK||1,000 CZK|
|Notary’s fee for writing down a notarial deed||15,550 CZK inc. VAT||15,550 CZK inc. VAT|
|Costs of verification of signatures||approx. 500 CZK||approx. 750 CZK|
|Duty stamp to be paid to the Commercial Register / petition to enter a change||0 CZK||2,000 CZK|
|Costs||29,050 CZK||31,300 CZK|
|Founding an a.s yourself||Transfer of an already founded ready-made a.s.|
|1 day - writing down a notarial deed in a notary office||1 day – signing all the documents for the sale of the company; the client is already leaving as the member of the board of directors of the ready-made company, and can open a bank account on the same day! Already on the same day or the following day you may apply for voluntary registration for VAT; you do not have to wait for your registration in the Commercial Register!|
|1 day - the administrator of contribution goes to the bank to open a technical account for the deposit of registered capital; ideally, the registered capital is repaid at the counter immediately; if the funds are transferred to the technical account, the bank will issue a “confirmation” by the next day; he therefore needs to repay at least 30% of the registered capital, i.e. 300,000 CZK, on the same day||1 day – writing a petition and its filing with the Commercial Register|
|1 day – collection of the “confirmation of the deposit of registered capital” in the bank||5 days – statutory deadline for registration of changes into the Commercial Register|
|1 - 2 days – submission of a petition for registration to the Trades Licensing Office, including the consent to the placement of the registered office|
|1 day – submission of the application to the Commercial Register kept by the applicable Municipal Court|
|5 days – statutory deadline for registration of the company into the Commercial Register|
|1 day – a member of the board of directors goes to the bank to “swap” the so-called technical account to a current account, and can release the registered capital to the current bank account|
|1 day – filing a petition for registration for corporate income tax with the Financial/Tax Authority (statutory obligation: within 30 days of incorporation)|
|1 - 30 days – handling registration for VAT (it is necessary to supply detailed documentation, including your business plan, the statutory deadline for settlement is 30 days, if the Financial/Tax Authority requires additional information, it will automatically extend the deadline)|
|Conclusion: Ideally, you can act on behalf of the company within 10 - 11 working days (note that this does not include weekends or holidays), and only then apply for registration for VAT, whose processing takes approximately 15 days (depending on the particular Financial/Tax Authority); you must also not forget the fact that throughout the company registration process, the paid-up registered capital, i.e. at least 300,000 CZK, is blocked in the bank. In our case, the companies already have paid-up registered capital to 100%, i.e. 2,000,000 CZK||Conclusion : You can act on behalf of the company with 100% of the paid-up registered capital of 2 million and open a bank account on the day of our meeting; on the same day it is also possible to file a registration for VAT, whose processing takes approximately 15 days (depending on the particular Financial/Tax Authority). Thanks to us, you can simultaneously deal with the transfer and register for VAT, and you do not have to wait another five working days before the changes are entered in the Commercial Register|