How to become a co-owner of a Czech company without traveling to the Czech Republic — explained by Visit Ukraine lawyers

Want to become a co-owner of a company in the Czech Republic without leaving Ukraine? Learn how to complete the procedure remotely and avoid problems with banks using a real request to VU lawyers as an example

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Many Ukrainians want to expand their business opportunities in Europe, in particular, to become co-owners of companies in the Czech Republic. But what if you live in Ukraine and do not plan to move to the Czech Republic in the near future? Is it possible to do everything remotely? What pitfalls await you from banks? And most importantly, can you avoid rejection?

In this article, Visit Ukraine lawyers explain how to become a member of a Czech s.r.o. (limited liability company) without a residence permit in the Czech Republic and how to avoid typical problems using a real request from one of our clients as an example.

Request: I am a citizen of Ukraine, currently residing in Ukraine, and do not have a residence permit in the Czech Republic. I would like to become a co-owner (společník) of an existing Czech company s.r.o., whose director has permanent residence in the Czech Republic.

I would like to clarify whether it is possible to complete this process entirely remotely, without my physical presence in the Czech Republic. We have also encountered difficulties with banks — Raiffeisen, AirBank, and Fio have informed us that they may refuse to open a corporate account or subsequently block it if the co-owner has no connection to the Czech Republic.

What is your experience in such cases? Which banks have you worked with successfully in similar situations? What would you advise in this situation and do you provide legal assistance or comprehensive support for such processes?

Is it possible to become a co-owner of a Czech company remotely — legal advice from Visit Ukraine

Yes, a Ukrainian citizen who does not have a residence permit in the Czech Republic can become a co-owner (participant) of a Czech s.r.o. company. This is permitted by Czech law and is not a ground for refusing to register changes to the Unified State Register of Legal Entities (Obchodní rejstřík).

The procedure can be carried out entirely remotely, provided that several important legal steps are followed:

● notarization of signatures on documents (in Ukraine) with an apostille;

● official translation of documents into Czech;

● provision of a power of attorney to a representative in the Czech Republic to submit documents to the register.

Problems with banks: why might an account not be opened or be blocked?

This is indeed one of the most common problems faced by foreigners who do not have “connections in the Czech Republic.” Banks, especially Raiffeisenbank, AirBank, and Fio Banka, are increasingly refusing to open corporate accounts for companies or even blocking them after they have been opened.

What is considered a “connection to the Czech Republic”:

● Permanent or temporary residence in the Czech Republic;

● Possession of a Czech tax ID number (rodné číslo);

● Active business activity in the Czech Republic (office, contracts, staff, etc.).

In other words, the mere fact of owning a share in a company does not guarantee the unhindered opening of a bank account.

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Which banks can you actually work with? Experience of Visit Ukraine lawyers

We have assisted many clients who have successfully become co-owners of Czech companies without residing in the Czech Republic. More importantly, we have experience in opening accounts in such cases. According to our observations, the most flexible banks in this regard are:

● Česká spořitelna (with additional confirmation of business activity);

● Unicredit Bank (if a local accountant and a real office are involved);

● certain non-bank payment institutions licensed by the CNB (e.g., Payminator, LemonPay) — for start-ups or small turnovers.

How to increase your chances of opening an account: advice from Visit Ukraine lawyers

To reduce the risk of account refusal or blocking, we recommend:

1. Prepare evidence of the company's real commercial activity in the Czech Republic (website, contracts, customer requests, etc.).

2. Consider appointing a Czech resident as a second director or authorized representative to interact with the bank.

3. Prepare an explanation for the bank regarding the company's connection to the Czech Republic, a description of the business plan, and the goals of the business.

Legal support from Visit Ukraine

We offer full support in the process of acquiring a stake in a Czech company — from preparing documents to opening an account and consulting on tax issues. As a client, you get:

● preparation and approval of statutory documents;

● organization of notarization and apostille;

● coordination of translations;

● submission of documents to the register;

● support in opening a bank account;

● advice on tax aspects and reporting.

All this without having to leave Ukraine.

Do you have a similar request or want to start a business in the Czech Republic remotely? Visit Ukraine lawyers are ready to help — our specialists will provide personal consultation, assess risks, and help with all legal and banking aspects.

Fill out the consultation request form, and we will prepare a turnkey solution for you.

We remind you! Ukraine has changed the list of countries with which it has double taxation agreements. Read about which countries the agreements remain in force with, which ones have been excluded, and how this will affect businesses and citizens in our previous article.

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