Why Czechia

Basic information about the Czech Republic

 

      • The Czech Republic has three regions: Bohemia, Moravia and Silesia
      • A working population of about 5.3 million
      • The overall population of 10.6 million people
      • Since 2004, a member of the EU
      • Since 1999, a member of the NATO
      • Since 2007, a member of the Schengen space

Exeptional quality of life

  • Czech Republic ranked the 4th best country for expats in 2016 and the 12th in 2017 – HSBC Expat Explorer Survey
  • Sustainable Cities Mobility Index 2017: Czech Rapublic ranked on the 5th position
  • Blobal Peace Index: Czech Republic ranked as the 6th best country
  • Inclusive development Index by World Economic Forum: Czech Republic ranked 15the
  • World Happiness Report: Czech Republic ranked 23rd out of 155 of countries
  • Global Innovation Index 2017: Czech Republic ranked as no. 24 out of 127 countries
  • Global competitiveness Index Ranking: Czech Republic ranked as the best CEE country on the 31st place

Highly skilled and affortable workforce

 

  • Education – The Czech Republic has 6 technical universities and another 9 universities with at least one technical faculty
  • Around 80 000 graduates every year. Prague itself has more than 30 000 graduates every year
  • Languages – around 40 % of the population speaks English, 35 % speaks German
  • Average salary around 29 000 CZK (1 115 €). The average salary in the capital is around 37 000 CZK (1450 €)
  • Unemployment under 4 %. The lowest in the EU

Thriving start-up ecosystem

 

  • The Czech Republic is a country with a strong industrial sector whose economy has been advancing by leaps and bounds since 2008
  • In recent years the central government has been making an effort to encourage businesses in new technologies and has begun to value the generations of excellent and reputable young Czechs who wish to join the labour market
  • Entrepreneurs and startups can utilize a network of investors and business angels which can provide the necessary development framework for new start-ups.
  • There are also technology giants operating in the Czech Republic which are involved in most start-up initiatives

Leader in several tech sectors

 

  • With 1.3 million vehicles produced annually, the Czech Republic is the largest producer in Central and Eastern Europe
  • Prague is home to the headquarters of the European Global Navigation Satellite Systems Agency
  • The Czech Republic is home to world-class mechanical engineers
  • The Czech Republic represents one of Europe’s top locations for ICT investments, outsourcing and offshoring IT-related services
  • Viread, a successful antiviral drug for the treatment of HIV/ AIDS was developed in the Czech Republic
  • Czech Republic is a world leader in nanofiber research and production

Investment incentives

 

  • Covering up to 25% of cost associated with investment projects. Czech Republic offers this to both new and existing investors. Aid is provided mainly from the national investment incentives scheme
  • Job-creation grants Tax incentives is the financial support for creation of new jobs EUR 3,700 – 11,100 per new job
  • Financial support for training and retraining of new employees (up to 50% of eligible training costs)
  • Full corporate tax relief for up to ten years for new companies, partial for existing ones

Centre of innovation and cyber security

 

  • During the period 2007-2013, the Czech Republic built eight large infrastructure facilities in the category of European Centres of Excellence and forty regional R&D centres
  • 48 Research and Development Parks including 8 Centres of Excellence
  • Many big companies have their research centres here: Siemens, Bosh, GE Aviation, Microsoft
  • ICT is one of the Czech Government’s designated priority sectors and substantial investments in ICT infrastructure are anticipated
  • Several of the leading sub-sectors are security and cybersecurity areas. As an example of companies, that are world leaders, we can name Avast and AVG antivirus companies

CzechInvest – Investment and Business Development Agency