Czech Republic: Types Of Company
All new companies that wish to trade in the Czech Republic must be registered in the Companies Register. The courts maintain the register and until a company has been granted the required legal status, it cannot commence trading. An entry in the Companies Register must include specific information about the name and type of the business entity. Mandatory audits are required for companies where two of the following conditions are met:
- Annual turnover exceeds CZK80m;
- Assets total CZK40m; and/or
- The average number of employees is more than 50.
More detailed information is shown below about the legal requirements for each type of company.