Why Czech Republic?

3 reasons why to transfer business from Ukraine to the Czech Republic

1. Stability of the economy: The Czech Republic represents a small open market economy that does not suffer from excessive internal, external or financial imbalances. The standard of living reaches 93% of the EU average (measured by GDP per capita at purchasing power parity). The Czech Republic is a member of EU since 2004, member of OECD and NATO. The economy is highly focused on the manufacturing industry and services. The economy is very interconnected with global supply chains.
2. Workforce & Czech environment: Czech Republic can offer well-educated workforce with other language capabilities and lower labour costs than in the Western Europe. Ukrainians form the largest community of foreign workers working in the Czech Republic for many years. Czech language is not difficult to learn for people from Ukraine thus their integration can be very smooth. 
   
3. Establishment of the company: Setting up a company in the Czech Republic is relatively easy – according to the World Bank's Doing Business Indicator, setting up a company takes an average of 24.5 days. Czech law requires to open a special (blocked) bank account for payment of the registered capital at a Czech bank provided the registered capital of the NewCo is higher than 20,000.00 CZK. 
   

Labour Costs

Avereage monthly wage is 1488 EUR and stands significantly below EU average (2552 EUR). Hence, firms operating in Czech Republic enjoy relatively low labour costs.

GDP per capita in purchasing power standard is the highest in the region.

Other facts:

• Global Competetiveness index: Czech Republic
  ranks 32nd
• Doing Business index: Czech Republic ranks 41st
• R&D expenditures amount to almost 2% of GDP