The Czech Republic has a population of about 10 million people, is located in the heart of Europe, and boasts many natural wonders. The country’s location and historical texture make it unique not only for tourists but also for establishing a company and doing business in Europe.
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Starting a business in Prague, the heart of Europe
The capital, Prague, is the most dynamic tourist destination in central Europe. Prague is a city that makes you feel as if you’re wandering through an open-air museum while exploring its streets. This city is unique in every way because of its intact historical nature, fantastic atmosphere, and the fact that it is a constantly lively metropolis.
In 2022, conducting business within the Czech Republic is still a desirable option because of the country’s strategically located in the center of Europe, its well-educated infrastructure, and well-developed, relatively reasonable workforce.
Prague is not only the tourist and cultural hub of the country, but it also has a solid economic base, and it hosts major global companies such as Google, Microsoft, SAP, Siemens, IBM, and more.
Low-cost company incorporation and administration
Compared to other European countries, the Czech Republic provides an advantage to entrepreneurs with its low start-up capital and establishment costs. The company formation cost is low, and it is not multi-layered.
Flexible and international workforce
The Czech Republic’s very flexible labor market is a boon to individuals and corporations looking to start a business. The overall expenditures are low, but the revenues are often satisfactory because the Czech Republic is not in the Eurozone but in Europe.
Education in the Czech Republic is quite advanced, practically and theoretically. The Czech Republic has one of the lowest unemployment rates in Europe. That’s why university graduates graduate with qualifications.
Solid European Union membership
The European Union operates as a single market made up of 27 countries. Being a member of the EU provides many advantages for a country. The economy of the EU is the third largest economy in the world in nominal terms, after the United States and China.
Communication, logistics, and business development have become much easier in the EU. Besides its EU membership, the Czech Republic also has independent access to Norway, Sweden, and Finland, which are not included in the EU.
Price constancy and promising economy
Prices of products and services are usually fixed in the Czech Republic. Price stability is of great importance for those who want to start a business or for business owners to be able to calculate and take action. In this way, they can analyze their periods much more clearly.
Business visa and permanent residency
Although visa requirements to enter the Czech Republic are more complex, obtaining a business visa through a Czech company is possible. You can apply for a business visa, and if you meet the requirements after five years of residency in the Czech Republic, you can also apply for a permanent residence permit. After residing for 10 years, you can obtain the right to apply for citizenship.