Limited Liability Company

Ukrainians can register a limited liability company - a legal entity.

To create a Limited Liability Company, you need:

- Register the company under the chosen field of the enterprise (type of business activity) with a notary;

- Open a temporary bank account to deposit authorised capital;

- Obtain a license if necessary;

- Submit registration documents to the registration court, which maintains the relevant register. See the list of courts at the link;

- Register the newly created company in the tax inspection, where it will receive a unique tax identification number (TIN).

The minimum number of founders is one person (an individual or legal entity). The minimum amount of authorised capital is one CZK.

Termination of the activities of the Limited Liability Company through liquidation provides, in particular:

- Deciding to liquidate the enterprise;

- Appointing a liquidator, who determines whether the enterprise has excessive indebtedness, fulfils its obligations, presents claims, obtains performance, represents it in courts and other bodies, concludes settlement agreements and agreements on the change and termination of rights and responsibilities, draws up liquidation balance etc;

- Removal of the enterprise from the commercial register.