Starting a business for the repair and maintenance of transport equipment in Czech Republic
can represent a good investment decision, as the term transport equipment
defines a wide range of assets. According to the definition stipulated by the Organization for Economic Cooperation and Development (OECD)
, transport equipment
refers to any type of equipment that is used for the transportation of goods and persons
The term does not take into consideration equipment that is used in households. Our team of consultants in company formation in Czech Republic
can provide an extensive presentation on the steps involved in the registration of a business for the repair and maintenance of transport equipment
and can also assist in obtaining the necessary business permits.
Does my Czech company need a NACE code?
It is important to know that the NACE codes refer tot the Statistical Classification of the Economic Activities in the European Union (EU). Considering that the Czech Republic
is a member state of the EU, it also applies the NACE codes. When referring to the transport equipment
, investors should know that the following NACE codes are available:
- • the NACE codes for transport equipment are divided into five main categories;
- • thus, cars can be found under the NACE Division 34, while ships and boats are available under the NACE Group 35.1;
- • the NACE Group 35.2 refers to railway equipment, while aerospace equipment can be found at the NACE Group 35.3;
- • the NACE Groups 35.4 and 35.5 refer to motorcycles, bicycles and other types of transport equipment;
- • the repair of machinery and equipment is under the NACE Code C33.
Businessmen who want to open a company in Czech Republic
that provides repair and maintenance services
should know that the NACE Code C33
is further divided and investors can select the following: C33.1
of fabricated machinery and equipment, C33.1.2
of machinery, C33.1.4
of electrical equipment, C33.1.5.
– repair and maintenance of ships and boats
– repair and maintenance of aircraft and spacecraft
– repair and maintenance of other transport equipment
Of course, the selection of the codes will be done in accordance with the types of services the company wants to develop here, but also taking into consideration the available specialists who can provide specific types of repair and maintenance services
; our consultants in Czech company formation
can advise on the special employment regulations that can apply to employees working with transport equipment
Businesses in Czech Republic that need to have as an object of activity the repair and maintenance of transport equipment, such as vehicles, motorcycles or parts of such vehicles should select NACE codes, such as: G45, G45.2 (which refers only to the maintenance of such products) or G45.4.
What are the key points of the Czech economy?
When starting a business in Czech Republic
for the repair and maintenance of transport equipment
or any other type of business activity, investors will always look at the characteristics of the local economy. This is especially applicable in the case of foreign investors. In the case of this country, the following data is available:
- • the country’s gross domestic product is estimated to reach $215,91 billion by 2024;
- • Czech Republic has a population of 10,58 million persons and the yearly population growth rate is 0.27%;
- • in 2017, the level of imports in Czech Republic stood at $162,1 billion;
- • Czech Republic exported goods with a value of $180,19 billion (in 2017);
- • the unemployment rate in Czech Republic stands at 2.4% in 2018.
The country’s main trading partner (for both import and export matters) is Germany. Investors must also know that in 2017, the country’s gross domestic product growth rate was of 4.7% and the unemployment rate stood at 2.9%. As a general rule, the economic environment in Czech Republic is perceived as being stable, providing numerous business opportunities.