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Set up a Czech Business for Repair of Transport Equipment
Updated on Tuesday 06th August 2019 Rate this article
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Starting a business for the repair and maintenance of transport equipment in Czech Republic can represent a good investment decision, as the term transport equipment defines a wide range of assets. According to the definition stipulated by the Organization for Economic Cooperation and Development (OECD), transport equipment refers to any type of equipment that is used for the transportation of goods and persons. The term does not take into consideration equipment that is used in households. Our team of consultants in company formation in Czech Republic can provide an extensive presentation on the steps involved in the registration of a business for the repair and maintenance of transport equipment and can also assist in obtaining the necessary business permits.
Does my Czech company need a NACE code?
Yes, since the business registered in the Czech Republic with the purpose of providing repair and maintenance services for transport equipment, the investors are also required to select the necessary NACE codes; our team of specialists in company registration in Czech Republic can provide more details on the NACE codes.
It is important to know that the NACE codes refer tot the Statistical Classification of the Economic Activities in the European Union (EU). Considering that the Czech Republic is a member state of the EU, it also applies the NACE codes. When referring to the transport equipment, investors should know that the following NACE codes are available:
- • the NACE codes for transport equipment are divided into five main categories;
- • thus, cars can be found under the NACE Division 34, while ships and boats are available under the NACE Group 35.1;
- • the NACE Group 35.2 refers to railway equipment, while aerospace equipment can be found at the NACE Group 35.3;
- • the NACE Groups 35.4 and 35.5 refer to motorcycles, bicycles and other types of transport equipment;
- • the repair of machinery and equipment is under the NACE Code C33.
Businessmen who want to open a company in Czech Republic that provides repair and maintenance services should know that the NACE Code C33 is further divided and investors can select the following: C33.1 – repair of fabricated machinery and equipment, C33.1.2 – repair of machinery, C33.1.4 – repair of electrical equipment, C33.1.5. – repair and maintenance of ships and boats, C33.1.6. – repair and maintenance of aircraft and spacecraft, C33.1.7 – repair and maintenance of other transport equipment.
Of course, the selection of the codes will be done in accordance with the types of services the company wants to develop here, but also taking into consideration the available specialists who can provide specific types of repair and maintenance services; our consultants in Czech company formation can advise on the special employment regulations that can apply to employees working with transport equipment.
Businesses in Czech Republic that need to have as an object of activity the repair and maintenance of transport equipment, such as vehicles, motorcycles or parts of such vehicles should select NACE codes, such as: G45, G45.2 (which refers only to the maintenance of such products) or G45.4.
What are the key points of the Czech economy?
When starting a business in Czech Republic for the repair and maintenance of transport equipment or any other type of business activity, investors will always look at the characteristics of the local economy. This is especially applicable in the case of foreign investors. In the case of this country, the following data is available:
- • the country’s gross domestic product is estimated to reach $215,91 billion by 2024;
- • Czech Republic has a population of 10,58 million persons and the yearly population growth rate is 0.27%;
- • in 2017, the level of imports in Czech Republic stood at $162,1 billion;
- • Czech Republic exported goods with a value of $180,19 billion (in 2017);
- • the unemployment rate in Czech Republic stands at 2.4% in 2018.
The country’s main trading partner (for both import and export matters) is Germany. Investors must also know that in 2017, the country’s gross domestic product growth rate was of 4.7% and the unemployment rate stood at 2.9%. As a general rule, the economic environment in Czech Republic is perceived as being stable, providing numerous business opportunities.
Businessmen are invited to address to our team of specialists in company registration in Czech Republic for an in-depth presentation on any requirements necessary for starting a local business; our consultants can provide the necessary support in order to start a business for the repair and maintenance of transport equipment in this country.
Meet us in Brno
Call us at +420 721 565 868 to set up an appointment with our specialists in company formation in Brno. Alternatively you can incorporate your company without traveling to Czech Republic.
As an CorpexLab client, you will benefit from the joint expertize of local experts and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Czech Republic.
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