Comment by inglor_cz

Comment by inglor_cz 21 hours ago

0 replies

In Czechia, you need a specific sort of account to start a LLC, an account that is only used to contain the initial capital.

The bank will issue a confirmation to the notary that the money is present in that account, the notary will sign the founding papers, and the account is then liquidated again. You can take the money out, or move it to [different] regular account, or have none and operate in cash, as long as your transactions don't exceed a certain limit.

The exception is when you become a VAT payer. In that moment, you have to have at least one bank account. IIRC VAT registration is only required if your yearly revenue exceeds approx. 70 thousand dollars.