Foreign businessmen who are interested in the tourism industry in Czech Republic and who would like to open a travel agency here should know that the state experienced significant growth in this sense in 2014, which is mainly due to an important increase in the inbound number of visitors from Italy and Germany. Investors who want to set up their business operations in the tourism industry can open a company here under several legal entities, which can be further explained by our Czech company formation specialists.
Tourism industry in Czech Republic
Tourism industry in Czech Republic is developing at a fast pace, due to a recent increase in the interest for this country of the European visitors, but also American, Russian or South Korean. Since then, the local government decided to increase the potential of this industry, which was mainly limited to the major cities in Czech Republic, such as the capital city.
The following video offers a short presentation on the registration of a Czech travel agency:
The government enacted the “State Tourism Policy Concept in Czech Republic for the period of 2014-2020”, a policy enforced to facilitate visitor’s access to other areas of the country. Foreign investors who want to find out more information on the current developments on the local market can receive assistance from our Czech company formation agents.
•limited liability company (LLC) – requires a minimum capital of CZK 1 if the company has only one shareholder;
•joint stock company – the registered capital is CZK 2 million; 30% of this sum must be fully paid during the incorporation process;
•partnership – there two types of partnerships provided by the local legislation: limited commercial partnership and general commercial partnership;
•branch – this type of legal entity is fully dependent on the parent company; decisions affecting the management of the branch in Czech Republicare also taken by the company to which the branch belongs to.
It is important to know that a Czech travel agency must receive a trade authorization specific to this activity, which is included in the category of concession trades authorizations issued by the Trading Licensing Authority.
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