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Company Formation Czech Republic

Company Formation Czech Republic

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Articles

Set up a Sole Trader in Czech Republic

Updated on Monday 21st November 2016

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Set-up-a-Sole-Trader-in-Czech-Republic.jpgA sole trader in Czech Republic, also known as a sole proprietorship, represents the simplest business form available in this country. A sole trader is registered by a natural person who wants to perform business activities in his or her own name. Those who are interested in company formation in Czech Republic under this type of business form will be taxed for the company’s activity under a different taxation scheme than the one applicable to commercial companies. Our team of company formation representatives in Czech Republic can provide assistance for the registration requirements. 
 

The advantages of a Czech sole proprietorship 

 
Since this business form was designed to represent the commercial activities of a natural person, the tax requirements, as well as those related to the administration of the entity, are much simpler than in the case of other legal entities available in Czech Republic
 
In terms of administration, a sole trader is not required to hold an Annual General Meeting, as the company is represented by only one person. Moreover, the accounting system for a sole trader does not have to be registered with the Commercial Register
 
The only accounting procedures applicable to a sole trader refer to the income and expenses matters. 
 
Those who want to open a company in Czech Republic as a sole trader have many advantages in terms of the taxes that must be paid, but they can also benefit from lower fees imposed by the local authorities. 
 
Our team of specialists in company formation in Czech Republic can assist investors with more details related to the main benefits of the sole trader, but it is necessary to know that this type of entity does not differentiate between the investor and the company and, thus, the businessman will be fully liable for the business’ debts
 

Registration requirements for a sole trader in Czech Republic 

 
Persons who want to open a Czech company will have to provide a set of documents that will be registered at the Trade Register
 
The investors will need to present the following: 
 
personal details;
residential address;
business address;
the business activities carried out under the sole trader.
 
Businessmen are invited to contact our team of company formation consultants in Czech Republic for more details on the registration of a sole trader
 

Comments

  • Alex 2016-11-16

    I operate as a sole trader in Czech Republic and I can say, at least for my field of activity, that this business form is very advantageous.

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