Commercial banks, investment banks, insurance firms, and other financial institutions make up the Czech Republic’s substantial and contemporary financial sector. The Czech National Bank is the country’s central bank, in charge of managing monetary policy and ensuring financial stability.
In the Czech Republic, electronic money is recognised and regulated. It is a digitally stored monetary value that is issued upon the receipt of funds and can be used to make payments. To operate lawfully, electronic money issuers must follow relevant legislation and may be required to obtain licences such as an Electronic Money Licence.
Czech Republic is located in Central Europe. Because of its physical location, it is a natural intersection of major transit corridors. The Czech Republic is a democratic country with a stable political and social environment as well as a functional legal system.
According to Worldometer’s elaboration of the most recent United Nations data, the Czech Republic’s current population is 10,765,897 as of May 18, 2023.
Czech is the Czech Republic’s official language. Czech, which has roughly 11 million native speakers, is classed as a Slavic Indo-European language. Although many individuals in the Czech Republic have a basic understanding of English, learning a few important words in Czech will get you far.
Czech legal culture (civil law) belongs to the Germanic branch of continental legal culture. Civil, criminal, administrative, procedural, and labour law are among the major areas of public and private law that have been methodically codified.
|License:||Electronic Money License|
|Timeframe for Approval:||3 to 4 months|
|Regulator:||The Czech National Bank (CNB)|
|Local Director:||Minimum 2 directors|
|Local Shareholder:||Minimum 1 shareholder (individual or legal entity)|
|Local Registered Office:||Required|
|Corporate Tax Rate:||19%|
|Currency:||Czech koruna (CZK)|
|Tax Structure:||19% Tax on Offshore Profits|