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Company Formation Czech Republic

Company Formation Czech Republic

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Articles

Changing the Company Type in the Czech Republic

Updated on Thursday 11th August 2016

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Changing-the-Company-Type-in-the-Czech-Republic.jpgBusinessmen interested in operating on the Czech market are allowed to change the type of the legal entity under which they carry their operations, if this procedure is necessary or recommended at a certain moment. The legislation prescribes the framework for the procedure, which is generally applicable when the current type of legal entity no longer fulfils the development plans of the investor.
 
At the same time, a different type of legal entity can provide other benefits to the company and to its shareholders. Entrepreneurs interested in changing the business form of a Czech company can receive assistance from our team of company formation representatives in Czech Republic

 

Changing a sole proprietorship in Czech Republic 

 
The sole proprietorship, the simplest form of doing business in Czech Republic, is a type of entity recommended for natural persons who want to start a small company on their own. A sole trader is set up by a self-employed person who is not required to submit the company’s accounts at the local authorities, as it is the case of other types of legal entities
 
The investor has unlimited liability for the company’s debts and there is no distinction between the founder and the business. The sole proprietorship can be changed in any other business form, and in order to do so, the investor will have to close down the current entity and re-register under a new type of company. The registration procedure is performed at the Commercial Court; our team of Czech company formation agents can offer assistance on the set of documents necessary in this situation. 

 

Changing a limited liability company in Czech Republic 

 
Czech Republic offers numerous business forms for those who want to invest here. One of the ways to operate on the local market is through a limited liability company (LLC), the most common type of company set up here. 
 
A LLC can be changed in a corporation, a procedure which is performed through the transfer of shares from the current company to the future one. The procedure is performed under the rules of the Act No. 89/2012 Coll. 
 
Businessmen interested in receiving further information on the procedure referring to the change of the legal entity in Czech Republic can address to our team of Czech company incorporation consultants for assistance. 
 

Comments

  • George 2016-08-10

    I perform my business activities under a sole proprietorship and I can say it is simple to manage such a business, but I believe it is the time to change it with a LLC.

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