Virtuanum, s.r.o. responded quickly to all requests. The advantage was that you do not have to go anywhere and all the necessary formalities were solved online. Thank you and I recommend it.
Setting up an LLC (s.r.o.) within a week
No need to visit the authorities or do complicated paperwork
- New company in 7 workdays
With years of experience, we can handle the incorporation process in no time.
- You just need 15 minutes and 2 signatures
Spend the time you save on yourself, your family or developing your business.
- Fair price and clear communication
We are always straightforward, work efficiently and without unnecessary delays.
+ legal fees 5 000 CZK
The button will redirect you to the site
of our sister company Ofigo.
*this button will redirect you to the site
of our sister company Ofigo
Perfect service, company established at the agreed time, no worries. In addition, we use the option of virtual headquarters. I can highly recommend.
I can recommend, very good and fast communication on a regular basis. You always have an overview of what is happening with the company you are setting up and what is pending for example. I rate this very positively.
I can highly recommend Virtuanum, s.r.o. to everyone. Professional approach, expert advice and literally luxury price. When they can’t answer the phone immediately, they always call back and explain everything professionally. Everything we agreed on has always been delivered on time. Everything was done in order. I would recommend them to anyone looking for a similar service. Maximum satisfaction.
Setting up a company, an account, a trade, registration of an FU, a registered office at a good address, etc… Everything without problems, clear and with appropriate instructions remotely. Fast communication, good price. I’ve worked with them twice and will do it again if needed.
High level, speed, lucrative address. I recommend!
I am satisfied with Virtuanum services, I find the offer clearly organized and valuable. The communication was absolutely harmonious, including the prompt resolution of accidental situations. Simply satisfaction.
|How long does it take to set up a company…
|… with Virtuanum
|… by yourself
|Complete an online form + certified signature on powers of attorney (POA)
|15 + 15 minutes
|Notarial deed of incorporation (Memorandum of Association)
|Photocopy of POA
|Extract from the Land Registry
|Extract from the Criminal Record
|Certification of signatures
|Notarial deed filed into Companies House Register
|Express registration in Companies House Commercial Register
|Set up of virtual registered office address
|Obtaining unqualified trade license
|PR article about your business FREE OF CHARGE
|Opening a special bank account for depositing the minimum share capital
|Company incorporation (including registered office address FREE OF CHARGE)
|2 888 CZK
|In total 8 hours of your and a process duration of 14 days on top of this meeting 7 officials, Providing 9 signatures)
|Legal fees for notarial services
|4 500 CZK
|Legal fee for a trade license
|1 000 CZK
|Total price (+ VAT) a Virtual office address for 1 year FREE OF CHARGE
|8 888 CZK
*this button will redirect you to the site
of our sister company Ofigo
Frequently Asked Questions
How to set up a company
There are two ways to start a new company:
- either you do it by yourself and go through the whole administration wheel without help,
- or you can leave it to the experts and save days otherwise spent going round the authorities offices.
Whether you choose one way or the other, it is a good idea to study the procedure at least in the basics, because knowledge is one of the important prerequisites for a successful business.
To set up a company, you have to:
- Deed of incorporation/Memorandum of Association (in the form of a notarial deed)
- Sworn Statement/Affidavit by the future company Director
- Extract from the Criminal Record
- Contract with the provider of the registered office address (known as company’s “seat“ in the CZR)
- Consent from the owner of the property, to the placement of the registered office address at the property
- Contract with the bank about opening a special bank account for depositing the minimum share capital
- Declaration from the assets administrator prior to the incorporation
- Bank’s confirmation that the funds have been paid in
- Form submitted to the Trade Licensing Office informing them about the commencement of trading
- Application to register the company with the Commercial Register
- Extract from Companies House Commercial Register
- Form to register the company with the Tax Authorities
- Extract from the Trade Licensing Office Register
How do company types differ?
The most common form of company worldwide is the limited liability company (s.r.o.). In the Czech Republic, it is regulated by the Commercial Corporations Act and, thanks to the simple procedure of its establishment, it is very popular especially among start-ups and small entrepreneurs. A limited liability company is established by drawing up a memorandum of association or articles of association, but like other forms of company it is only formed when it is registered in the Commercial Register. In this case, the shareholders are liable for their obligations up to the amount of the contribution. The share capital may be only CZK 1.
In contrast, a joint stock company (a.s.) is more demanding and more worthwhile for entrepreneurs who plan a larger business from the beginning. The capital here does not consist of the shares of individual shareholders, but of shares and its minimum amount is 2 million CZK (or 80,000 EUR). Each shareholder then guarantees the liabilities with his own share. The supreme body is the general meeting (assembly of all shareholders or owners of the company).
A public company (v.o.s.) may be established by at least 2 persons who are jointly and severally liable for their obligations with all their assets. The share capital as well as the necessity to establish internal bodies of the company are not determined by law. Both points are therefore voluntary and result from the articles of association.
The Kommanditgesellschaft, a limited partnership business entity (k.s.) is not very common, but it is important to mention it for the sake of completeness. It combines elements of the above mentioned partnerships and limited liability companies and as such also has two types of partners. The former are the limited partners, who are obliged to make a deposit (the amount of the share capital is not fixed) and are liable for the obligations of the partnership up to the amount of their outstanding deposit, and the general partners, who do not have this obligation; they are also the statutory body of the partnership.
The last of the basic forms is the cooperative. It is a community of an unenclosed number of persons, which must have at least 3 members (they can be natural or legal persons) – the most famous ones are housing or production cooperatives. The main bodies of the cooperative are the members’ meeting, the board of directors, the control committee, or others according to its statutes. The amount of the minimum share capital or the lowest possible contribution for a member of a cooperative is not set by law. However, like the above-mentioned companies, a cooperative is only established by registration in the Commercial Register.
What to think about before setting up an LLC
You should be clear on these basic steps before you set foot in your own business:
- Type of trade license
- Company form and share capital
What business will you be in?
This is the basic condition for starting a new business. For most of them you just need to go to any trade office and after paying the fee you are practically done, but some types of trades require proof of professional competence at the same time. They are divided into the following categories:
- unqualified – does not require professional or other competence (all manufacturing and commercial activities + services not falling into the categories listed below)
- vocational – requiring professional competence (e.g. baker, hairdresser, etc.)
- professional – you must demonstrate professional competence regulated by specific legislation (e.g. accounting consultancy, project work, etc.)
Company form and share capital
The most common type is the limited liability company, but as we have noted above, other variants are also available (a.s., v.o.s., k.s. or cooperative). And the conditions associated with incorporation, such as the amount or the need to deposit the share capital, will also vary accordingly. While for an LLC you can get by with 1 CZK, for a joint stock company you must have at least 2 million CZK.
Don’t pay for a physical office if you don’t need one
Previously, the decision was clear, as a physical office was practically the only choice. Today, however, many activities can be carried out easily remotely and therefore more and more entrepreneurs (IT professions, e-shop operators, etc.) choose virtual offices. Their main advantage is the saving of funds that do not have to spend on high monthly rent and equipment.
Moreover, with good providers, you get such a virtual office at a prestigious address in the centre of major cities, which is an important indicator for many business partners and clients when deciding whether or not to do business with you.
A good name is an investment in the future
If you are serious about your business in the future, you should set aside enough time to come up with a name or ideally invite an expert. For many of today’s successful products, it is the name that carries the most value.
Basic rules for choosing a company name:
- should be original, but at the same time easy to pronounce,
- a good name is short and to the point,
- easy to remember,
- it must be distinguishable from existing companies on the market,
- by law, the name must not be misleading, defamatory or offensive.
Make sure your name doesn’t clash with existing brands in our online verifier.
The procedure for establishing a company with limited liability
As the saying goes, it’s better for two and if you choose a good provider, you can at least save dozens of hours of your time when setting up a company, not to mention the stress and worry of going to the authorities. However, no matter how you go about it, it doesn’t hurt to study the relevant laws, which will help you get a better understanding of the whole company issue. Important ones include:
Setting up a company with Virtuanum
You can handle the vast majority of the steps from your desk, then run to the post office once and have the company ready to go within a week. For one price and for 10 years. You can get started by filling out an introductory form. We’ll take care of all the other paperwork and run the offices for you.
Setting up a company on your own
Prepare for a long administration and ideally also arrange a lawyer to help you prepare the basic documents and contracts. Make a note of the notary’s address as well, as this will be one of the first places you will need to head to for the drawing up of the articles of association (or the articles of incorporation if you are the founder yourself).
What else awaits you?
- obtaining a trade license at any trade office in the Czech Republic is a basic obligation and a step towards a new business
- deposit of the share capital into a newly established bank account (1 CZK is sufficient, but it is worth more with regard to credibility)
- presentation of an extract from the criminal record (at any CzechPoint branch), it is obvious that the managing director of the company must be a person of good character and capable of legal acts
- determination of the headquarters of the company, this headquarters can be either physical or virtual, in any case you must have the written consent of the property owner for its location (at Virtuanum we offer virtual headquarters in Prague and we also have virtual headquarters in Brno)
- a visit to the tax office, where you will receive a corporate income tax registration form and a tax registration certificate
- picking up an extract from the Trade Register, where the office will enter your assigned ID (identification number) after registering the company in the Trade Register
And remember that although a company is established by drawing up a memorandum of association, its formation occurs only upon registration in the Commercial Register.
What to watch out for when setting up the company
You will come across a lot of advice on the internet about starting a company, but it doesn’t always contain the right information. Therefore, if you rely on the online environment, always check everything from at least a few independent sources.
You may also come across templates for contracts and documents, but they may suffer from the same problems and contain errors. They serve well as a template, but at the very least a check with a professional is definitely in order.
We believe that there are still a majority of reputable providers, but we still occasionally come across offers that are not exactly fair. What is it? One indicator may be prices that are too low, but they usually only cover the basic service, which is subject to additional fees. But for those, you either have to read at length or look for them hidden below the line. In the case of company formation, for example, it may be that the price does not include notarial deed, stamps and other necessary items that screw up the final price considerably.
Another trick is to make the price or discount conditional on the purchase of other services that you don’t really need. For example, you have to buy a package of accounting or legal advice in addition to simply setting up a business, which may not be of the quality you would require if you needed it.
Sounds great at first glance. The company is ready and you don’t have to do anything complicated. If you come across a reputable provider, this may indeed be the case, but it is far from always the case and buying a ready-made company can sometimes be quite expensive. Here are three common situations:
- Bad reputation — frequent name changes, share transfers and shady transactions are just some examples of the history your company may have gone through. How do you think this will affect your clients and business partners?
- Insecure contracts — with ready-made companies you don’t have 100% control over what agreements they have previously entered into. And your lawyer is unlikely to thank you for such a risk.
- Foggy history — you usually have very little knowledge of the history of the company you are buying at the time of the takeover. And even if you get confirmation from reputable bidders that the company has no criminal history, it won’t give you 100% certainty.
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