Business accounts: Czech Republic

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

The Czech Republic is an EU member with strong manufacturing, IT and logistics in the heart of Europe; its currency is the Czech koruna. Czech banks open accounts mainly for companies registered in the country: the account is needed to pay in capital, run payroll, pay taxes and settle with clients. Foreign-owned companies are common here, but the bank wants to see real activity in the Czech Republic and meet the director.

A Czech company for the account

• The main form is the limited liability company (s.r.o.), with minimum capital of CZK 1. The founding document is executed before a notary.
• Registration in the commercial register via a notary costs CZK 2,700, about $124, or CZK 6,000, about $275, through the court.
• The trade licence costs CZK 1,000, about $46, for the first activity.
• Corporate income tax is 21% from 2024, and dividend withholding 15%.
• VAT is 21% standard, with mandatory registration above CZK 2,536,500, about $116,300, of turnover from 2025.

Who Czech banks open company accounts for

An account before registration

If capital is paid in cash, a special capital account is opened before entry in the register: the bank issues a deposit certificate the notary needs. After registration the account becomes a regular current account. With CZK 1 capital many founders pay it to the managing director, but the bank still needs a clear business and source of funds.

What documents the bank asks for

• A commercial register extract and the founding document.
• The trade licence and tax registration.
• Passport and a second photo ID of the director and signatories.
• Beneficial ownership details, which the company also enters in the Czech register of beneficial owners.
• A business description, expected turnover and source of capital.
• Foreign corporate founders' documents with apostille and certified Czech translation.

Timeline

Obligations after the account opens

Every Czech company has a state electronic data box for official correspondence: letters from the tax office, court and other authorities arrive there, and missed deadlines lead to fines. A VAT payer files a monthly return and a control statement on invoices, and the company publishes its annual accounts in the commercial register's collection of documents. An accountant is needed from the first month.

Deposit protection

The Financial Market Guarantee System protects deposits up to €100,000, about $112,100, per depositor per bank, including companies. Dollar amounts use the ECB rate of 5 October 2026, about CZK 21.8 per dollar, rounded up.

Why Czech banks refuse

• The director cannot attend a meeting or verify identity by video.
• Beneficial owners are not entered in the register or not disclosed to the bank.
• No activity in the Czech Republic; the company is wanted only for transit.
• The source of capital is not evidenced.
• Owners or counterparties from sanctioned or higher-risk countries.

How we help

We register a Czech company through a notary or review an existing one, obtain the trade licence and beneficial ownership entry, open the capital account and then the current account, prepare the business description and source of funds file, and accompany the bank meeting. Then we connect an accountant.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

FAQ