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Opening a bank account in the Czech Republic

The Czech Republic is a popular country both for immigration and for relocation or opening new branches for business. To achieve these goals, it is necessary to open a bank account. An individual will need it to obtain a residence permit or citizenship, to invest in real estate, to make a deposit in a bank, etc. For legal entities, a bank account opens up the possibility of entering the EU markets and cooperating with counterparties from the eurozone. Lawtter Solutions offers its clients the opportunity to open a bank account in the Czech Republic online on a turnkey basis, on favorable terms.
The cost
of the service

1 500 EUR*

Term for opening
a bank account
1-3 months
Support

Multilingual
Account
opening type
With personal visit
* The cost is indicative; contact Lawtter Solutions’ lawyers to inquire about the cost of opening an account with the selected bank.
Opening an account

Basic information

The banking system in the Czech Republic is highly stable and sustainable. There are 45 financial institutions licensed to provide banking services in the country, including local banks and branches of foreign companies.

Can a foreigner open a bank account in the Czech Republic? Yes, but there are some peculiarities. Only an individual can open a Czech bank account as a non-resident. A foreigner is allowed to open both current and investment accounts, make deposits, and get debit and credit cards. Legal entities can register accounts and enjoy all the advantages of the Czech banking system only if they have opened a local branch. There are no offshore accounts in this country since 2017.

Bank accounts in the Czech Republic are multi-currency. You can choose the Czech crown, euro, or US dollar. The Czech Republic is one of the few EU countries that allows stable work with USD. There are state guarantees for deposits. However, it is impossible to remotely open an account remotely in the Czech Republic while abroad. You need to visit a bank branch. Payment systems, such as Mercurius or Erabanq, can be an alternative. In this case, the registration procedure is simpler, and you can open a bank account online in the Czech Republic, while abroad.

Advantages of opening a bank account in the Czech Republic

Opening a bank account in the Czech Republic offers several important benefits, including:

Political stability

The Czech Republic is a democratic state with high political stability, not prone to long-term political crises.

State protection of deposits

All deposits, regardless of the chosen currency and bank, are guaranteed by the state.

Favorable terms and conditions

Some Czech banks offer service fees depending on the turnover. In some cases, the service fee may be zero.

Multi-currency accounts

You can open an account in Czech crowns, euros, and US dollars.

Technology

Most banks and payment systems offer customers convenient and functional mobile banking.
Documents

Documents for bank account opening

Before you open a bank account in a Czech bank, you need to prepare a package of documents.

For individuals, the list is as follows:

  • ID card, internal or international passport, or residence permit;
  • Taxpayer Identification Number;
  • Proof of residence address – registration document;
  • Confirmation of origin of funds;
  • Resume (CV).

To open an account in a Czech bank, legal entities need to submit the following documents:

  • Constituent documents of the company;
  • ID of the director and shareholders (and the managing director, if any);
  • Proof of residential address of director and shareholders (and account manager, if any);
  • A power of attorney issued by the director (if the account manager files the documents);
  • Confirmation of origin of funds;
  • Contracts with partners.
This is an indicative package. The list of documents required to open an account may vary depending on the bank chosen.
Stages of opening an account

Lawtter Solutions and its services

Lawtter Solutions offers turnkey account openings in the Czech Republic. We will help you open a bank account in one of the most popular banks in the country, for example:

  • Ceska Sporitelna (Česká spořitelna);
  • UniCredit;
  • PPF Banka;
  • FIO banka;
  • CSOB Bank;
  • Raiffeisen Bank;
  • Komerční banka (KB).

 

The procedure of opening a Czech bank account with Lawtter Solutions includes 5 main steps:

Selecting a bank with a suitable list of services

Document preparation

Filing

Verification

Obtaining necessary documents, requisites, and access

Lawtter Solutions offers account openings in Czech banks quickly with minimal client involvement.