The Czech Republic is a prosperous country of 10.6 million people, located in Central Europe between Germany, Poland, Slovakia, and Austria. It has one the highest GDP growth rates and lowest unemployment rates in the European Union, in spite of a relatively high dependence on exports resulting in susceptibility to volatility in demand. Czech Republic’s GDP was $215.73 billion in 2017, mostly from automobiles exports making up almost 80% of the total.

The country’s cultural groups include Czech (64.3%), Moravian (5%), and Slovak (1.4%) with Roman Catholicism as the primary religion. The Czech people enjoy socializing in neighborhood pubs, drinking their world famous Czech beer, connecting with family and friends. January 1st, 1993 is celebrated as the day of the founding of the Czech Republic, as separate from the former country of Czechoslovakia.

April 2Good Friday
April 5Easter Monday
May 1Labor Day / May Day
May 8Victory in Europe Day
July 5Day of Saints Cyril and Methodius
July 6Jan Hus Day
September 28St. Wenceslas Day
October 28Independent Czechoslovak State Day
November 17Struggle for Freedom and Democracy Day
December 24Christmas Eve
December 25Christmas Day
December 26St. Stephen’s Day
  • a.s., akc. spol. (Akciová společnost)
  • s.r.o., spol. s r.o. (Společnost s ručením omezeným)
  • v.o.s., veř. obch. spol., a. spol. (veřejná obchodní společnost)hip
  • k.s., kom. spol. (komanditní společnost)
  • o.p.s. (obecně prospěšná společnost)
  • živnost
  • s.p. (státní podnik)
  • příspěvková organizace
  • z.s. (zapsaný spolek)
  • Corporate Tax: 19%
  • Income Tax (Lowest Marginal Rate): 20.1% (15% deductible tax + 45% medicare and social security if an employee, 22.5% if self-employed)
  • Income Tax (Highest Marginal Rate): 45.7% (peaks for employee real raw year income $90,000)
    39% (for real raw year income of $450,000)
  • VAT/GST/Sales Tax: 21% (standard rate), 15% or 10% (reduced rates)
  • Air Bank (cs) (Commercial Bank)
  • Banka Creditas (cs) (Commercial Bank)
  • Česká exportní banka (cs) (Commercial Bank)
  • Česká spořitelna (Commercial Bank)
  • Českomoravská stavební spořitelna (cs) (Commercial Bank)
  • Českomoravská záruční a rozvojová banka (cs) (Commercial Bank)
  • Československá obchodní banka (Commercial Bank)
  • Equa bank (cs) (Commercial Bank)
  • Expobank CZ (cs) (Commercial Bank)
  • Fio banka (cs) (Commercial Bank)
  • Hypoteční banka (cs) (Commercial Bank)
  • J&T Banka (cs) (Commercial Bank)
  • Komerční banka (Commercial Bank)
  • Moneta Money Bank (cs) (Commercial Bank)
  • Modrá pyramida stavební spořitelna (cs) (Commercial Bank)
  • PPF banka (Commercial Bank)
  • Raiffeisen stavební spořitelna (cs) (Commercial Bank)
  • Raiffeisenbank (Czech Republic) (cs) (Commercial Bank)
  • Sberbank CZ (cs) (Commercial Bank)
  • Stavební spořitelna České spořitelny (cs) (Commercial Bank)
  • UniCredit Bank Czech Republic and Slovakia (Commercial Bank)
  • Wüstenrot – stavební spořitelna (cs) (Commercial Bank)
  • Wüstenrot hypoteční banka (Commercial Bank)
  • BNP Paribas Fortis (Foreign Bank)
  • BNP Paribas Personal Finance (Foreign Bank)
  • Bank Gutmann (Foreign Bank)
  • Bank of China (Hungary) (Foreign Bank)
  • Commerzbank (Foreign Bank)
  • Citibank Europe (Foreign Bank)
  • Deutsche Bank (Foreign Bank)
  • HSBC Bank (Foreign Bank)
  • ING Bank (Foreign Bank)
  • mBank (Foreign Bank)
  • MUFG Bank (Europe) (Foreign Bank)
  • Oberbank (de) (Foreign Bank)
  • Powszechna Kasa Oszczędności Bank Polski (Foreign Bank)
  • Raiffeisenlandesbank Oberösterreich (de) (Foreign Bank)
  • Poštová banka (Foreign Bank)
  • Raiffeisenbank im Stiftland (Foreign Bank)
  • Saxo Bank (Foreign Bank)
  • Sumitomo Mitsui Banking Corporation Europe (Foreign Bank)
  • Všeobecná úverová banka (Foreign Bank)
  • Waldviertler Sparkasse (de) (Foreign Bank)
  • Western Union International Bank (Foreign Bank)
  • ZUNO Bank AG (Foreign Bank)

Aadmi can support you with your expansion to Czech Republic. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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