Is setting up an SE from scratch the right choice for me?
- Set-up is cheaper than buying a ready-made SE.
- The SE is written directly in your name upon foundation (there is no change of name, registered office, etc.).
- The whole process of setting up an SE will take about a week, from first meeting to entry in the Commercial Register.
- You have to pay the registered capital yourself (the minimum amount is € 120,000).
- Setting up an SE will take up more of your time – one meeting is required to buy a ready-made SE, setting one up yourself will take longer.
- A number of conditions need to be met in order to set up an SE – most clients therefore choose to buy a ready-made SE, which is a far quicker and easier way of obtaining an SE.
What is the procedure involved in setting up an SE from scratch?
Contact us and tell us how you want your SE to look.
- You can find everything you need to think about before setting up an SE here.
- Or you can use our non-binding online form.
We will contact you right away and agree on the details of setting up the SE with you.
- Setting up an SE requires that a number of conditions be met. For this reason it is necessary to first find out whether the client is able to meet these conditions (most clients are not, and so choose to buy a ready-made SE).
- You can even set up a company from the comfort of your own home (by e-mail and post). All you have to do in person is go to the bank and pay the registered capital of your company.
Preparation of documents and subsequent handover of the documents you have signed
- We will prepare the documents required for you to set up an SE and send them to you by e-mail.
- You sign them (authenticated signatures required) and return them to us, either in person or by post.
- We will then arrange a notarial deed and set up a trade for you at the trade licence office.
- Your task in the meantime is to pay the registered capital into any bank in the Czech Republic.
Payment for setting up an SE is made in cash when handing over documents.
- If the sale goes through “remotely", payment is made by bank transfer into our account.
We will deal with entry in the Commercial Register.
- As soon as your trade has been set up (within around 3 days) and you have paid the registered capital (it is up to you how quickly this happens), we will arrange for the SE to be entered in the Commercial Register (within around 5 days).
- The SE can also be entered in the Commercial Register immediately for a surcharge (see here – link).
Registering a company with the competent tax authority
- A new company must be registered for income tax within 30 days of its entry in the Commercial Register and we will do this for you based on power of attorney.
What to think about before setting up an SE from scratch
The conditions for setting up an SE
- We recommend that you contact us first and discuss with us whether you are able to meet the statutory requirements placed on setting up an SE.
The name of the SE
- The name of your SE may not resemble any other name already registered in the Commercial Register and must differ in at least two characters – you can check names here (link).
- Our notary will enter the SE in the Commercial Register. You can therefore check with him/her in advance whether your name will be entered or not (evaluation is no longer a matter for court officials, as was previously the case).
The registered office of the SE
- Each SE must have a specific address entered in the Commercial Register as its registered office.
- You may have your own registered office, or we can provide you with one (our choice of registered offices – link).
The trade of the SE
- You must consider the area of activity that your SE will engage in.
- There is no need to prove any qualification in order to carry out an unqualified trade (What is an unqualified trade? – link here).
- A responsible representative who is able to prove his/her qualification (study certificate, experience in the field, etc.) must be in place in order to carry out a professional or permit-requiring trade.
The governing bodies of the SE
- A natural person or a legal person may be a governing body.
- It might be one and the same person as a shareholder, although this is not a requirement.
- A dualistic structure must be in place at an SE – a member of the board of directors and a member of the supervisory board.
- One and the same person may not hold both these functions – at least two people are required for the bodies of the SE.
- We are able to provide you with a governing body (see nominee services – link here).
The shareholder in the SE
- A natural person or a legal person (Czech or foreign) may be a shareholder.
- If you want more than one shareholder in the SE, the stakes which they each own in the SE must be determined.
Shares in the SE
- A Societas Europaea may only issue registered shares (bearer shares no longer exist).
- You can choose the number of shares yourself.
The registered capital in the SE
- The minimum size of the registered capital is set at € 120,000 by law.
- You, however, will pay in Czech koruna – conversion to Czech koruna is governed by the exchange rate valid on the date of setting up the SE.
- When you set up an SE from scratch, you pay the registered capital yourself – you open an account at any bank in the Czech Republic in which to deposit the registered capital, pay the relevant amount into that account and the bank will issue with confirmation that the funds in question are in the account. The bank releases the money after the SE has been entered in the Commercial Register.