Good to Know - Practical Tips

Where do I get my business registration number and tax Id number?

Business registration number (IČO) may be obtained from any Trade License Department, irrespective of the actual residence of the applicant. The basic fee is CZK 1,000 per application. The application form for individuals

Tax identification may be obtained through an application to register for the value added tax. The official website of the Czech tax administration has a manual on how to complete the application.

International bank transfers

For transactions in Euros, starting from 1 February, the most convenient method is the SEPA payment system. This system introduces a unified format for all Euro payments, whether they are debited from or credited to your account. For a SEPA payment, you need to use the correct account identifiers in accordance with the IBAN (International Bank Account Number) and BIC (Business Identifier Code) standards. The SEPA payment system is used in all 28 EU Member States, in Iceland, Liechtenstein, Norway, Monaco, Switzerland and San Marino.

Generally, any international credit transfers may be liable to transfer fees or foreign currency exchange losses. We recommend contacting the relevant bank before remitting the payment. Sometimes it may be more convenient for all parties involved to pay the remuneration in cash to avoid additional extra fees and other hassle.