Archiv - January 2009

Company start

Thursday, 29 January 2009

We have started the preparations for CIWire in december 2008, however czech law for company startup is rather difficult so the official start was on 12th January 2009.

Using the help of friendly lawyer by the name of Marie Parizska we have managed to start relatively soon after the first papers were signed.

To start a company in Czech republic you need a site, holder contract, and minimum deposit of 100.000 CZK (that’s 50% of minimal initial pool). The executive head needs also a clean statement from the rap sheet. The contract needs to be authentified by CO (approx. 6.000 CZK ). Based on it the city provides you with trade permission. You also need it also to deposit the initial pool at the bank – it will be locked there until the company is registered by Commercial court.

We put all these documents, forms and receipts in a folder, bought stamps (6.000 CZK) and submitted to Commercial court of Plzen. After two weeks we were given a company ID. With this we were able to create a common bussiness bank account and unlock the initial pool.

The next step was the registration at Tax office Plzen city was very smooth. We had to fill out one form for income tax and one for VAT. If you are planning for revenue over 2M per year I recommend to register also for VAT as this is the limit for compulsory registration.

As our company had employees right from the start we also had to register at Social security and Health insurance. Both are a matter of minutes – fill out the form and submit it. You will get a bank account to send money to and a variable code – company ID.

Now we start to do some official work.

Hint: If you want to save time and speed thigs up a little bit, you can use the services of a lawyer like we did. His/her’s services will be rather expensive and they cover almost every step till the issue of company ID by Commercial court.