Foreign investors interested in expanding their business activities in Czech Republic in the field of pharmaceuticals have to respect a set of rules when incorporating this type of company and also have to comply with a strict set of regulations which are applied by the Czech State Institute for Drug Control. The entity is the main regulator in this field and it is allowed to control the industry in every aspect; at the same time, the Institute is responsible with the regulation of pharmaceutical companies in terms of various aspects of the business: clinical trials, results, prices of the products and many others. Foreign investors who want to receive more information on the pharmaceutical industry in Czech Republic can address to our team of Czech company incorporation specialists.
Pharmaceutical companies in Czech Republic
Businessmen who want toopen a company in Czech Republic should know that the local market is mostly represented by foreign ownership. The process of registration of a Czech pharmaceutical company is similar to the incorporation of any other type of company; still, there are some significant differences related to the authorizations required in order to properly function in the pharmaceutical industry.
According to the Czech legislation, a foreign investor can incorporate a company in Czech Republic under one of the following legal entities:
The following video offers a short presentation on the registration of a Czech pharmaceutical company:
Our team of Czech company incorporation agents can assist entrepreneurs in choosing one of the above mentioned legal entities, in accordance with their business plan or financial assets; some of the most important steps in opening a company are:
•drafting the articles of association;
•registering a business name;
•establishing a business address;
•registering with the local authorities;
•opening a bank account.
Want to work with our accountants in the Czech Republic? Our specialists can offer you various services, and among them, we list payroll, bookkeeping, preparation and filing of annual financial statements, audits, debt monitoring, and administration of human resources. We also offer specialized assistance for those who want to register the company for the payment of taxes. And to get a clear and correct idea about the financial position of your company, audits and varied reports are recommended in this direction.
Provisions of the pharmaceutical legislation in Czech Republic
Both local and foreign pharmaceutical companies established in Czech Republic have to comply with the legislation provided by the Act on Pharmaceuticals (2007). The Act was drafted in accordance with the European Union’s directives on pharmaceutical products and pharmaceutical businesses and it establishes the way in which medicaments are manufactured, marketed and traded. At the same time, the Act provides a legal framework related to the drugs which can be produced or sold on the Czech territory and it refers to what types of activities are permitted here.
If you need further information on the pharmaceutical companies in Czech Republic, pleasecontact our Czech company incorporation consultants, who can provide you with a comprehensive view on the business opportunities that are available for this industry.
The team from CzechCompanyIncorporation.com is very qualified and benefits from extensive expertise in this area. I would definitely recommend them to any entrepreneur decided to start his own business here.
Mihai Cuc, Partner of Enescu&Cuc; Law Firm www.romanianlawoffice.com