OPENING A BANK ACCOUNT IN THE CZECH REPUBLIC

In the Czech Republic, you can open a bank account in 1  day or even faster if you prepare and check all the documents in advance. Also, Czech banks belong to the European financial system, which is characterized by the stability of their activities. Therefore, the choice of the Czech Republic as a country to open a bank account is suitable for both individuals and legal entities.

How to open a bank account in the Czech Republic for Ukrainian refugees?

Since many Ukrainians have moved to the Czech Republic and are resettling their lives, getting a job, moving their business, renting apartments, conducting various real estate transactions, it is necessary to open bank accounts as an initial step.

Advantages of opening a bank account in the Czech Republic: algorithm and advantages for Ukrainians

Opening an account in a Czech bank is:

• Stability as the Czech banking system is subordinated to the EU banking system
• Introduction of special offers for Ukrainians during the war (simplified procedure for opening a bank account, payment in the amount of 2500 – 3000 Czech crowns, depending on the bank to which you apply)
• Use of a bank card as needed (receiving a salary for employment)
• Replenishment of bank accounts of residents and non-residents
• Use of Internet banking
• Abolition of the commission for payments to Ukraine
• Fast and free issuance of plastic card

Financial assistance from the Czech Republic

When applying for the above-mentioned “tolerance visa” (temporary protection in the Czech Republic for our refugees), you are entitled to a one-time assistance of 5,000 Czech crowns accepted by the Parliament of the Czech Republic. To do this, you need to write an application – everything will be told in the Refugee Reception Centers. If you do not get a job for the next 5 months, you will be able to submit a similar application each month and receive the same amounts.

The best banks:

In total, there are about 50 local banks and several foreign ones in the Czech Republic, but each bank has its own characteristics, disadvantages and advantages.

• UNI credit Bank – advantages no commission for opening an account, commission for servicing 100 kroons, if the monthly amount is less than 12,000, no fee for withdrawing funds.
• Full name Bank
• Commercial bank
• Československá obchodní banka – assistance to refugees – 2500 kroons
• Česká sporitelna – assistance to refugees – 3000 Czech crowns
• Raiffeisenbank – Credit to the open account of 2,500 kroons.

In order to open an account in any bank in the Czech Republic you must be present in person.

Documents required to open an account for an individual:

• Relevant application for opening an account
• Identity documents (there must be two such documents)
• The amount that the person wants to deposit into his account
• Postal address of residence in the Czech Republic

Documents required before opening an account for a legal entity:

• Notarized copy (national and foreign) of legal entity participants and beneficiaries
• Accordingly, the application for opening an account
• Extract from the Trade Register
• Entrepreneur’s license
• If there is no information about the legal entity in the Trade Register yet, the constituent documents shall be submitted

The main requirement is the age of 18, in addition, when opening student accounts, they can be opened from 15 years. All documents must be translated into Czech.

Assistance in opening a bank account in the Czech Republic includes advising a lawyer on the availability of appropriate documents for opening an account, terms of account opening, bank billing, support in the bank, assistance in filling out bank documents, and other banking services. Some Czech banks usually send a bank card to your address a few days after submitting the documents, instead of issuing a bank card immediately. Opening and maintaining an account in a Czech bank is a rational choice for a stable future and efficient business start-up.