The Czech Republic’s import and export activity paints a picture of a dynamic and open economy deeply integrated into the European and global trade landscape. Central Europe’s geographical hub and excellent connectivity and infrastructure make the Czech Republic a prime location for data centers.
The Czech Republic, while boasting a vibrant trade scene, faces its share of challenges and opportunities. For example, navigating complex regulations and permits, particularly for smaller companies, can be time-consuming and costly. Additionally, the tech sector faces a skilled labor shortage, hindering growth and innovation. Tech products in the Czech market must comply with EU safety and environmental standards.
Like its neighbors Austria and Slovakia, Czechia is an EU member and adheres to its common trade policy, impacting tariffs, quotas, and trade agreements. Anyone involved in international trade, whether importing or exporting, must register for an Economic Operators’ Registration and Identification (EORI) number in the region. This unique identifier is used for customs purposes throughout the European Union.
While there are few restrictions, some compliance complexities come into play with the declaration of the Beneficial Owner (BO). While this is a straightforward process, certain intricacies can arise depending on the role and location of the BO.