Obtaining Trade License
The following incorporation filings are required for obtaining the Trade License:
a) Notarized copy the Founding Memorandum of the Company,
b) Extract from the Czech Criminal Register for the responsible person. If the responsible person is a foreigner, the Trade License Office must be provided with an extract from the Criminal Register of the country where the responsible person has permanent residency and/or any country where he/she has been present for longer than 3 months during the 3 years prior to the Trade License application. He/she must also prove knowledge of the Czech language in a personal interview at the appropriate Trade License Office,
c) Confirmation of the responsible person on accepting the appointment as responsible person,
d) Completed application form,
e) 1.000, - CZK application fee for each license,
f) In case of an industrial trade, documents confirming qualification of the responsible person may also be required,
g) Presentation of identity card or residence permits of the responsible person.
Apply to Commercial Register. Within 90 days after obtaining the Trade License, the Company must apply for registration at the Commercial Court. The following documents are required:
a) Completed application, which must be signed at a Czech notary by all the statutory representatives,
b) notarized Founding Memorandum,
c) Notarized copy of the Trade License,
d) Notarized samples signatures and declarations of honor of all statutory representatives,
e) Notarized copy of the letter from the bank confirming the monetary deposit
f) Documents proving legal existence of founders
g) Court fee in amount of 0,5% of the registered basic capital (minimally 3.000,- CZK). The Czech government charges an annual corporate registration fee payable on the first day of each year. If the company is 60% (or more) beneficially owned by Bahamian citizens, then the fee is B$300.00 per annum, otherwise the fee is B$1,000.00 per annum. A Declaration must be filed annually stating the percentage of Bahamian beneficial ownership. If a company is incorporated prior to the 1st July in any year, then the payment of the corporate fee is deferred to the following January. If it is incorporated on or subsequent to the 1st July, then the corporate fee is not payable until the second January following incorporation. If the proposed company will not be carrying on business with persons resident in The Bahamas, or owning or leasing real estate in The Bahamas (other than its own office), or carrying on trust or insurance business, enquire about the formation of a company under the International Business Companies Act. The content of this article is intended only to provide general information on the subject matter. It is therefore not a substitute for specialist advice.
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