Czech

• Reliable banking sector. Several leading Czech banks are ready to serve crypto companies — provided strict compliance with AML and transparency of operations.
• Friendly attitude towards foreign beneficiaries. Foreigners can be both owners and directors of companies, which simplifies global business structuring.
• Central geographical position. Czech Republic is located in the heart of Europe, providing convenient access to markets in Germany, Austria, Slovakia and the entire EU.
• Large crypto market (9,000+ subjects). The country ranks among the leaders in the region in terms of the number of registered crypto companies, confirming the maturity of the ecosystem.
• Simple and fast registration of s.r.o.  Creating a legal entity can be done in just 3–5 days, minimizing delays when entering the market.

• Mandatory office and staff for CASP.  For obtaining a license, a real office and staff in the Czech Republic are required, which increases fixed costs. 
• Slow work of government agencies.Some stages of coordination and registrations are stretched over several months, which should be taken into account when planning deadlines.
• High cost of qualified staff. Salaries of specialists in IT and legal-compliance segments are higher than the average level in the region.
• Proof of experience in the crypto industry is required. When applying for CASP, you need to confirm sufficient expertise and history of activity in the crypto space.
• Mandatory audit and reporting.  The content of the compliance department and the accounting burden grow due to regular inspections.

The cost of compliance is higher than in Poland.

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• Implementation of DORA and maintenance of AML/KYC procedures costs at least € 5,000 per year and can significantly increase with the scale of the business.

• Collection and preparation of necessary documents.
• Choosing a company type.
• Company registration.

• Payment of registration fees.
• Preparation and submission of documentation for obtaining a crypto license.
• Consideration by the regulator of the application and final approval.
• Payment of authorization fees for approval and annual fees.