[BUYING AND SELLING REAL ESTATE IN CZECH REPUBLIC]
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compared to the rules for forming a limited liability company. a) Formation a. At least one founding shareholder is required; this may be either an individual or a legal entity. b. The minimum share capital is CZK 2,000,000 (EUR 80,000). c. The Articles of
proposal
to
the
Commercial Register. e. Tax registration is to be carried out with the local tax authority. f. The company must establish a website containing the obligatory
information concerning
the
company without undue delay after its registration into the Commercial Register
b) Structure – 2 options
Association must be notarized and contain certain mandatory information. for registration in the Commercial Register is to be filed with the court with local jurisdiction (i.e., the place where the company is located).
a. There are two options regarding the company's structure: (i) the monistic structure, (ii) the dualistic structure. Neither option is implemented in Czech law in their pure forms. The company may freely change its structure by changing its Articles of Association. structure is typical in European countries such as Italy, France and b. The Switzerland, and this structure is also used in European Companies (Societas Europaea).
d. Application
Note:
Previously, the
founding shareholders had to pay a minimum contribution. In the case of cash contributions: each of the founders had to pay at least 30% of the subscribed registered capital by the time of the submission of the
ILN Real Estate Group – Buying and Selling Real Estate Series
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