Export School: Starting a Business in European Countries and Banking Service Features – Czech Republic

REGISTRATION

PrivatBank in partnership with the European Business Association, OLX Ukraine and Mastercard has launched a new educational platform PrivatBank Business Platform. This platform is designed for the education and development of entrepreneurs.

Registration is now open for the “Export School” course on the platform. This course aims to help Ukrainian entrepreneurs who want to expand their business and enter new markets by starting exports to EU markets. This educational initiative is available to all owners and representatives of small and medium-sized businesses in Ukraine for free.

Why Join?

• Learn more about the legal and tax aspects of doing business in various European countries.
• Receive practical advice and tools for business development in the international market.
• Strengthen your business connections on an international level.

PrivatBank clients who complete the course will also gain additional opportunities for business development, including:

• Special discounts and tariffs from PrivatBank on export operations.

“PrivatBank is interested in increasing the number of entrepreneurs in Ukraine and aims to be a business partner that helps successful businesses grow and develop. That is why we not only create modern and innovative products and services for our clients but also offer opportunities for education and development. ‘Export School’ is a high-quality educational program that will help you grow as an entrepreneur and open new markets for your business,” said Yevhen Zaigraiev, Member of the Board for Small and Medium Business at PrivatBank.

The range of available educational programs within the PrivatBank Business Platform will continue to expand.

Join Now!

Speaker: Denys Badzyuk, lawyer (UK), attorney for foreign affairs (Czech Republic). With over 20 years of experience in complex criminal and civil cases and court proceedings. Studied at the University of London and The City Law School, City, University of London. Defended a dissertation and received The Edward Elgar Prize for the LLM (Master of Laws). Awarded by The City Law School for success in advocacy in criminal proceedings.

1. Issues to consider before starting a business in European countries: language, local legislation/use of other jurisdictions’ laws, availability of electronic document circulation tools for communication with state bodies, accounting, immigration law, business exit, “gentlemen’s agreements”/partnership agreements.

2. Business registration in the Czech Republic: Trade Register/Registration Courts, acquisition of ready-made companies/”turnkey” company registration, 4 main types of business registration:

       2.1.1. Entrepreneur (individual).

       2.1.2. Limited Liability Company.

       2.1.3. Joint-Stock Company.

       2.1.4. European Joint-Stock Company.

       2.2. Real office/virtual office.

       2.3. Requirements for directors/founders (documents needed for registration).

       2.4. Features if the business involves licensed activities.

       3. Tax regimes: simplified tax regimes for individual entrepreneurs, corporate profit tax, VAT, capital gains tax, dividend taxation.

       4. Common problems/misunderstandings arising from different mentalities, different legislation: adherence to formal procedures (“fiction of service,” etc.), liability of directors and founders, use of complex corporate schemes (attempt to “hide” behind offshore companies), potential problems during bankruptcy.

       5. Opening and maintaining bank accounts: types of banks/financial institutions where accounts can be opened, understanding KYC/AML principles, bank compliance departments’ work, standard document package for opening a bank account, typical problems when opening accounts, documents that must accompany payments through bank accounts/possible compliance questions/bank answers, forced account closures: main reasons and procedure.

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