The Crowe consulting firm presented a new comprehensive service, Open business in the Czech Republic. This service is intended to make it easier for foreign companies to enter and develop their business in the Czech Republic.
Over the past five years, Crowe has assisted several dozen foreign companies, mostly from the technology sector, in entering the Czech market. The new service is intended for start-ups and established companies looking to expand.
“Foreign companies often face obstacles such as the language barrier, complications when opening a bank account, obtaining a permit or registering with the authorities,” says Ivana Brancuzká, Crowe’s country manager, adding: “Czech laws and regulations change quite often, which makes it difficult for foreign companies to navigate. Our comprehensive service is designed so companies entering the domestic market can handle these burdens within a few weeks, depending on the client’s requirements.
Digitalisation facilitates communication with the state.
“Recently, digitalisation and the introduction of artificial intelligence into our services has made our work significantly easier and enables us to provide even better and more efficient advice, so that we can focus on providing added value for our clients,” says Ivana Brancuzká.
According to Jiří Šindelář, director of Crowe’s tax department, a key decision for foreign companies is the choice of a suitable legal structure. “The limited liability company is one of the most popular business structures for foreign investors in the Czech Republic. Another possibility is a branch of a foreign company, which represents an alternative for a faster and less administratively demanding entry into the Czech market,” he adds.
The new “Doing Business in the Czech Republic” service includes comprehensive consulting on legal, tax, and accounting matters, as well as assistance with identifying suitable business and investment opportunities, preparation of founding documents, and obtaining business permits and necessary licenses.
The Crowe Czech Republic has been operating on the Czech market for over 30 years and belongs to the Crowe Global network, one of the 10 largest accounting and consulting networks worldwide. It supports clients in accounting, taxation, auditing and consulting. The company is an expert on the Czech market and local economic sectors and helps clients with expansion into the Czech Republic. It specialises in providing audit services for medium and large enterprises. The firm is actively involved in developing the business environment in the Czech Republic and sharing the best practices from abroad. It offers comprehensive tax consultancy, including optimization of the tax structure for international companies operating in the Czech Republic, and provides accounting and payroll outsourcing.
