Czech Republic: simplified process for new business start-up

A Bill to simplify the administrative processes of establishing a new business has been introduced in the Czech parliament.

Proposed changes include:

• replacing printed trade licences with an extract from the Trade Register (containing all trade licences of each business);

• allowing businesses to apply for a trade licence at any Trade Licensing Office in the Czech Republic, regardless of where the business has its seat;

• reducing the notification obligations of businesses;

• restructuring the whole system of trades.

Law: Bill on Changing Some Other Acts in Relation to Passing the Act on Transformations of Corporations and Cooperatives