On 9 March, the Chamber of Deputies passed draft amendment to the Act on Court Fees (bill no. 497), that aims at abolishing the fee for registration of a company with limited liability (společnost s ručením omezeným) in the Commercial Registry in case a notary performs the registration. In the future, the cost of setting up a company with limited liability should not cost more than EUR 100, compared with the current costs of around EUR 370. It should also take much shorter time; the process of setting up the company should not take more than 3 days (currently it is 3 weeks). The bill does not abolish the court fees for change or addition of data in the Commercial Registry. The measures intended to lower the administrative burden were a precondition set by the European Commission for the Czech Republic for tapping the EU’s structural and investment funds. Read more.
According to the World Bank’s Doing business 2016 report, it takes 15 days on average to start a business in the Czech Republic, compared with 11.5 days in Slovakia and 22 days in Austria, for example