Czech banks are opening their doors to aspiring entrepreneurs. If you’re wondering how to start your own business, banks like Česká spořitelna and mBank provide comprehensive support for new ventures. They have developed online resources filled with essential information and practical advice to help you get started, eliminating the need to search multiple sources. You […]
Effective July 1, 2024, all employers in the Czech Republic hiring foreign workers must submit their reports electronically, as paper-based submissions will no longer be accepted. This requirement applies to companies of all sizes and industries. The Ministry of Labor and Social Affairs has introduced this change to streamline the hiring process and ensure compliance […]
Nearly every entrepreneur in the Czech Republic utilizes a car for their business activities. A car can be classified as a business asset if it is used for business purposes. This applies to both individuals and legal entities. Including a car as part of your business assets comes with various accounting, tax, and administrative responsibilities, […]
The status of an identified person in EU countries was created to allow entrepreneurs required to declare tax on related cross-border transactions to avoid immediate full-fledged VAT payer registration. This means that a person identified for tax purposes, unlike a VAT payer, is only required to submit a tax return if they have a tax […]
Are you looking to start a business in Portugal? With its favorable business environment and attractive tax incentives, Portugal has become a popular choice for entrepreneurs and investors. Registering a business in Portugal can be quite straightforward if you follow the right steps or seek professional assistance. Get a free consultation from 360WEDO, and we’ll […]
The Czech government has approved an amendment introducing new obligations for accommodation services. This change will affect all organizations offering accommodation, including hotels, guesthouses, boarding houses, and those renting out properties via Airbnb. These providers must register in the newly created eTurista system and report guest data to the authorities electronically. According to the Ministry […]
Last week, the Czech Republic published a draft government regulation that outlines the basis for calculating minimum advance payments for health and social insurance for 2025. Overall, advance payments for self-employed individuals (OSVČ) will increase by CZK 1,127 next year. As is customary, the amounts for health and social insurance advance payments in 2025 will […]
The Czech Republic is set to implement a phased increase in its minimum wage, with the ultimate goal of reaching 47% of the average wage by 2029. This follows an amendment to the Labour Code, approved by both houses of parliament in July. Currently, the minimum wage stands at 41.1% of average earnings. From next […]
Retraining courses allow both employees and entrepreneurs to expand or acquire knowledge and skills. There are many accredited courses in the Czech Republic. A lot of attention is currently being paid to the problem of unemployment. Retraining courses is one of the ways to combat it. That’s why the employment service not only helps with […]
An annual report in the Czech Republic is an important document that contains information about the company's finances and activities for the past year.
The United Arab Emirates (UAE) is an attractive destination for entrepreneurs. According to the World Bank’s Doing Business Report for 2020, the country ranks 16th globally for ease of doing business. However, before starting a business in Dubai or another city in the UAE, it’s crucial to familiarize yourself with the key laws and regulations […]
Receiving compensation for damages from an insurance company is a situation that requires special attention in a sole proprietor’s tax accounting in the Czech Republic. Let’s look at some practical examples to understand how to act correctly in such cases. Important to remember: Only sole proprietors (individuals) are subject to tax accounting. Such an entrepreneur’s […]
To start your own business in the Czech Republic, you need money. It can be obtained in many ways, so would-be entrepreneurs need not count on themselves. For example, they can get a loan from a Czech bank, grants, money from investors, or people using crowdfunding. Alternative financing methods, such as crowdfunding, investor cooperation, or […]
For a debt to be recognized as valid, the debtor must acknowledge it in writing to the creditor, indicating the reason and amount. Let’s look at the elements of a debt receipt, the most common mistakes when drafting it, and the specifics of the repayment plan agreement. Why the Debt Recognition is Important Section 2053 […]
