Banking license in the Czech Republic
Banking license in the Czech Republic
The National Bank of the country acts as the regulator of the financial market in the Czech Republic.
The state regulator conducts procedure for verifying new counterparties in accordance with the norms of national legislation and the European Union, which guarantees equal treatment for all market participants.
The advantage of conducting banking activities in the Czech Republic is the presence of the process of passportization.
If you are planning to establish bank or other type of business in the financial sector in the Czech Republic, then in order to expand to the other EU member states, you need to go through the authorization process without additional filing of the documentation package and waiting for consideration of the candidature.
Law&Trust Company guarantees the prompt obtaining banking license in the Czech Republic, because we provide full range of services starting from consultation up to the moment of issuing the certificate and starting the functioning of your company.
In addition to processing of banking license, you can order registration of the bank itself, opening accounts in other financial institutions, tax planning, as well as auditing the organization. Details on the range of services of our specialists can be specified in any convenient way: by phone, by call from the site, in online chat, be sending e-mail, etc.
How much does banking license in the Czech Republic cost?
The procedure for obtaining banking license starts from the moment of submitting application by the applicant. The main requirement for foreign companies is the establishment of their own bank in the country.
The branch should be acting and refer to the organizational and legal form of LLC or JSC.
The legal entity is also obliged to register settlement account and contribute the authorized capital in the amount corresponding to the selected organizational and legal form.
Minimum regulatory capital of the bank in the Czech Republic equals to 500 million CZK (approximately 18 million 700 thousand EUR).
List of expenses for obtaining banking license:
List:
List:
- Contribution of the authorized capital (may vary).
- Opening account with local bank for conducting all financial transactions. Subsequently, the account can be re-registered in own financial institution, which will reduce the cost of its maintenance and simplify the management of capital.
- Payment of state fees for acceptance and consideration of the application. The transfer is non-recurrent and is not refunded to the counterparty regardless of the results of examination of the documentation package.
- Payment for services of the lawyers of Law&Trust. Our price is indicated on the website, but the exact cost can be clarified directly during the first consultation.
Term of banking license in the Czech Republic
Term of banking license in the Czech Republic
Consideration of the application takes no more than 8 months from the date of delivery of the package of documents to the commission for financial regulation. The certificate has unlimited period of validity, however, annual renewal of the permission is required.
The counterparty is required to submit tax reporting and data on the activities of his company, inform of significant changes in the number of personnel or the charter of the corporation.
In case there are violations, the license may be revoked for a certain period, and when there is major neglecting of the notifications, the bank may completely forfeit the right to conduct activities in the Czech Republic and the EU countries.
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Victoria Zhelezova
Branch Director, HR
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Dariia Grib
Legal secretaries & Receptionists
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