Why Start a Business in Czech Republic?
Why Start a Business in Czech Republic?Updated on Tuesday 06th March 2018
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The Czech Republic has gained for many years the status of a solid and appreciated business destination for foreign investments. The entrepreneurs from abroad enjoy a proper business climate and a favorable tax regime in Czech Republic, which is why doing business in this state may represent a suitable option. If you want to activate in the country’s main sectors and you need business consultancy and legal support, our Czech lawyers are at your disposal in this sense.
Business opportunities in Czech Republic
The Czech Republic is a member of the European Union, a stable business partner with an export-oriented market economy. These attributes give the country full credits in matters of investments on ain international scale. The authorities put complete accent on the implementation of investment incentives since 1990 when the country gained its democracy, offering a suitable business climate for all foreigners in search of business development. Among the prolific sectors for placing all kinds of businesses, we mention the following:
• the agriculture (large production of wheat, potatoes, sugar beets for export purposes);
• the manufacturing sector which represents 40% of the GDP (Gross Domestic Product);
• the automotive industry;
• the textile sector;
• the tourism.
If you decide for the above-mentioned sectors in Czech Republic, you may solicit complete legal advice from our Czech attorneys.
The benefits of doing business in Czech Republic
Foreign entrepreneurs can open companies in Czech Republic in the same conditions as imposed for national entrepreneurs. Because the investment legislation is permissive, investors from abroad can properly place their operations in this country. Moreover, they can have 100% ownership in their companies and can benefit from a wide range of encouragements offered by the government especially related to the tax regime.
The local workforce in Czech Republic must be considered at the time of company formation because it is highly skilled and experienced in a multitude of sectors. The infrastructure, the transportation, the telecommunication networks which are highly developed in Czech Republic may represent the reason why you should start a business in the Czech Republic. The healthcare, the biotechnology, the engineering, the food industry and the manufacturing sectors are flourishing in Czech Republic and offer a multitude of business opportunities for foreigners.
For a better understanding of how business can be established, please feel free to contact our Czech law firm for complete legal support.
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