It is recommended that you conduct regular rounds of face to face meetings and to maintain frequent telephone and email contact in between visits.
Dress conservatively for official meetings. Use surnames until you are invited to use first names.
Ask if a meeting can be conducted in English and provide an interpreter if necessary, even though English is usually spoken in larger and international companies.
Be sensitive to the fact that the older generation tends to be quite conservative.
Setting up in the Czech Republic
Setting yourself up to do business is a complex, but perfectly achievable, undertaking requiring plenty of planning and forward thinking. Obtaining the necessary permits and papers and setting up appropriate entities takes time and people considering doing business in the Czech Republic should allow adequate time to be ready by their desired deadlines. Always check the legal, tax and accountancy regime well in advance, but get regular updates as the law can change frequently.
Austrade is prepared to advise you and search for adequate partner for your business activities. The partner search will depend on the intention to export/trade, establish a permanent presence or purchase a business or company in the Czech Republic. Permits or licences are required, which may include work/residency permits, trade licences and industry-specific permits relating to financial services regulations or environmental regulations, etc.
Banking and finance
Czech Republic's commercial banking sector indicate that the Czech Republic is home to a fairly large banking sector relative to those in most countries in Central and Eastern Europe.
The key players are: CSOB (owned by KBC of Belgium), Ceska sporitelna (owned by Erste Bank of Austria), Komercni Banka (owned by Societe Generale of France) and Reiffeisen bank (Austria).
Electronic banking and credit card cultures have developed fast.
Useful websites and resources
Government, business and trade
Ministry of Industry and Trade
Ministry of Foreign Affairs
Ministry of Finance
Czech Republic Official Website
Czech Statistical Office
Czech Telecommunication Office
News and media
Czech News Agency (CTK) (official news agency)
Please note: This list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use. Australia’s anti-bribery laws apply overseas and Austrade will not provide business related services to any party who breaches the law and will report credible evidence of any breach. For further information, please see foreign bribery information and awareness pack.