The government of the Czech offers Business immigration to the Czech Republic for foreign enterprises. There are great conditions for entrepreneurship: low tax rates (income tax for legal entities in the Czech Republic is 19%), profitable lending schemes, protection against corrupt officials, transparency, and legality of business-related actions.
Moreover, the authorized capital is deposited into the account of a Czech bank, and the owner enters into liability agreements with creditors. The owner of the company is obliged to pay taxes even if his business is not working.
Residence permit in the Czech Republic through business
To obtain a residence permit based on owning a business or a share in a business, your company must function and show real income for at least 3 months. Also, agreeing with Czech firms and organizations will show your intention to do business in the Czech Republic. Besides, you should not create a fictitious company. It is necessary to create a clear business plan, which assumes the location of the owner in the Czech Republic.
You can get a residence permit in the Czech Republic through a business
1. If you have a company in the Czech Republic that has already worked for at least 3 months and has 3500 euros/month turnover. And all documents confirming the real activity (accounting was conducted, contracts were concluded, there is an office lease, 3 Czech employees, etc.)
2. If you bought a business in the Czech Republic or a share of it.
3. If you have opened a whole company, in which several co-founders are possible.
In the case of buying or opening a company in the Czech Republic (limited liability company), the company must have the following characteristics:
- Share capital from 3900 euros;
- The founders of an LLC can be foreigners, both legal entities and individuals. That is, you can specify the founders of people who do not live in the Czech Republic.
LLC registration process in the Czech Republic
Limited Liability Company (S.R.O.) is the most common legal form for companies registered in the Czech Republic. The extract from the Commercial Register (the body that registers companies in the Czech Republic) is a certificate of registration of the company.
The director can be a citizen of the Czech Republic or a person with a residence permit or permanent residence, have the right to officially act on behalf of the company, sign documents, conclude transactions, etc.
However, you should not worry about the presence of a stranger in your company. The fact is that as soon as you get a residence permit, you can become a director of your company. To do this, you will need to hold a meeting of founders, amend the charter and submit the relevant documents to the commercial court.
Watch also: Work visa to the Czech Republic in 2021
The process of obtaining a residence permit in the Czech Republic
1. Signing a contract
Checking and preparing documents for each specific case for Business immigration to the Czech Republic. Prepare a package of documents, translate them into Czech and notarize them.
2. Submission of documents
Submission of the required package of documents to the Czech consulate for a category D visa at the place of registration. The term of consideration is 2-3 months. After obtaining this visa, it is highly recommended to immediately come to the Czech Republic and stay in the Czech Republic or the EU.
3. Apply a residence permit
After 3 months you can apply for a residence permit after your company worked and paid taxes. Date of arrival in the Czech Republic and a meeting with our lawyer is appointed. In the Czech Republic, powers of attorney are issued for our lawyer. You will need to stay in the Czech Republic for about 2-5 business days. In the Czech Republic, all the necessary documents are submitted to the Department of Immigration, you receive a certificate that the documents for the issuance of a residence permit have been submitted. The term for consideration of a residence permit is from 1-3 months.
4. Residence in Czech Republic
Approximately 1-3 months later, a notification comes about a positive decision on the issuance of a residence permit. Then you will need to come to the Czech Republic a second time (if you were absent) for 5-8 working days to submit biometric data and obtain a residence permit. A residence permit is issued in the form of a card for 1-2 years, then it is extended for two years, then for another 2 years. After 5 years, you are eligible to apply for a permanent residence permit for 5 years, but for this, you need to pass the Czech language if your age is under 60. After 10 years of residence in the Czech Republic, you also have the right to obtain Czech citizenship.
5. Health insurance
Also, compulsory health insurance should be added to the required package of documents. The easiest way, in this case, is to choose one of the commercial companies that provide these services than to pay for insurance every month. Insurance is usually done for the duration of the residence permit (1 – 2 years). Those wishing to open a business in the Czech Republic, as a rule, easily obtain a work visa and a residence permit, which entitles them to apply for citizenship in 3 years.
Buying real estate in the Czech Republic
Another way of Business immigration to the Czech Republic is owning real estate in the Czech Republic does not guarantee quick citizenship, but it gives an advantage when obtaining a residence permit.
When passing an interview at the migration service, the applicant will be able to prove that he has his own living space, which means that he is sufficiently wealthy, and will not have problems with paying taxes.
The owner of the migration service will need to provide an extract from the cadastre confirming the existence of the object at the specified address.
The cost, type, and location of the living space do not matter. It is important to purchase a property before applying for a residence permit, that is, during the validity of a long-term visa.
Investments in the Czech Republic
Large investors are more willing to issue work visas than medium and small ones in terms of investment. To obtain it, you must provide documents confirming that the applicant has capital equal to a certain amount. He/she also needs to demonstrate a business plan that implies the creation of new jobs for Czech citizens.
Watch also: EU Blue Card: How to get it in 2021?
