Limited Liability Company

A limited liability company is the most popular type of company mainly due to its simplicity and limited liability of its owners (partners) for liabilities. But how does "limited liability" for debts work in practice? Find out if and what the partners, the managing directors and the company itself are liable for. Bodies in a limited…

You know each other well, maybe you've been partners, siblings, classmates or best friends since kindergarten. You have a great business idea, so you decided to start a company together. What could go wrong, you think. But even the best personal relationships can't guarantee a successful business partnership. What to look out for when you're…

You have probably already encountered terms such as mergers, acquisitions or company splits. The amendment to the Business Corporations Conversion Act now introduces a new concept, the spin-off. Find out how spin-offs differ from other types of conversions and how they work in practice. What is a corporate conversion by spin-off? In July 2024,…

You probably know who the CEO is, but do you have any idea what the CTO is responsible for, what the COO does, and when to turn to the CFO? Find out the difference between each leadership position and how they can help your company grow. Top management organization The rapid growth of companies brings with it the need to optimize their…

If you are acting on behalf of a business corporation, you will usually encounter a situation during your business activities when you need to modify a certain entry in the Commercial Register (CR). Here is an overview of the most common reasons for changing a CR entry and how to make the change in practice. All mandatory and optional data…

The monitoring of the impact of business on the environment (E), employees and society (S) as well as topics related to management (G) are being included in Czech legislation. Companies will now prepare a so-called sustainability report. In 2024, this obligation will affect only the largest companies, but will gradually apply to other companies.…

The size of the entity determines what the company is legally required to do. A small newsagent has fewer obligations than an industrial giant with hundreds of branches. Find out which category your business falls into and what not to forget. What is the purpose of categorising accounting units? The classification of accounting units (CUs) and…

As of 1 July 2023, an amendment to the Business Corporations Act (ZOK) will come into force, which will facilitate the establishment of companies. In particular, the conditions for members of elected bodies of companies will change. See how. The state has launched a new register The registration of excluded persons is a fundamental change. This…

Are you starting a new company and don't know what to call it? And what is a company name? We will tell you all about it! First, we will look at the company name from a creative point of view and then from a legal perspective. A suitable name will set your company apart from the competition and help you to be memorable. How to come up with a name…

Setting up a company involves administration that can take weeks. We will tell you how long it takes to set up an LLC and give you tips on how to speed up the process. What affects the speed of setting up a company? The length of time it takes to set up a company depends on the type of company you choose, the speed of the administrative…

Are you considering starting a business or are you already at the beginning of your entrepreneurial journey? If so, then you shouldn't miss the 5 most common mistakes people make when starting a business. Business and sales specialist, Petr Bernadič from Každý prodává company, brings you 5 steps to help you avoid these mistakes and achieve success…

After the employees have started, you will be expected to handle payroll and regular contact with the authorities. Other formalities are involved when employees leave the company. Read on to find out what to think about. What to do before you start? As a new employer, you cannot do without registering with the tax office, health insurance…

The business is growing, so you decide to hire reinforcements. However, with the first employee comes a fair amount of administration. Here's what to remember. As an employer, you have a number of obligations to: Czech Social Security Administration (ČSSZ),health insurance companies,the tax officeand other institutions. Your first step is…

Do you plan to trade with countries outside the European Union? Then be sure to register with EORI to avoid problems at the border. Find out exactly what it is and how to get it in this article. What does EORI mean and what is it for? It is a unique identification number used in customs procedures. Every business that…

Starting a business also involves initial investment. In addition to depositing the share capital, you need to complete several administrative steps to get your company off the ground. Most of these formalities are chargeable, so the establishment of an LLC will cost you several thousand crowns in total. What do I need to do and what are the…

Setting up a company in the Czech Republic involves a lot of administration. The whole process here takes even twice as long as in other developed countries. That's why it's good to have an overview of how to proceed. The procedure for setting up a limited liability company. Setting up a limited liability company takes time and patience. However,…

Thanks to the amendment to the Accounting Act, from 2022 you can ask the tax office to forward your company's financial statements to the registry court, which will publish them in the collection of documents. Would you like to take advantage of this possibility and make your work easier? Find out how to do it. What are the financial statements…

You have drawn up the articles of association and registered the company in the Commercial Register (OR) - unfortunately, the paperwork associated with the new Ltd. does not end there. You will soon be facing other administrative and tax obligations. We will help you navigate them. Tax obligations One of the first administrative necessities you…

Are you planning to start a business? To start a company, you need a memorandum of association, which regulates the basic organisation of the company. Read on to find out exactly what it is and what it must contain. What is a memorandum of association? A Memorandum of Association is a document that establishes a company or cooperative…

Do you own a company that is doing well and would you like to cash out your profits? Don't forget about taxes! How much money can you pay out as a company owner? Every entrepreneur carries out an economic activity with the aim of making a profit, which is also implied by law. If you own a limited liability company, a joint stock…