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Relocation to the EU / Brexit

Relocation to the EU / Brexit

We bring certainty to your investment

The United Kingdom formally left the European Union on 1st February 2020 on the basis of Article 50 of the Treaty on European Union. The process of withdrawal will culminate on 1st January 2021 with the termination of the transitional period. Brexit is a global challenge for many companies and entrepreneurs.

CzechInvest, an investment promotion agency subordinate to the Ministry of Industry and Trade, will guide you step by step through the process of investing in the Czech Republic. We support the relocation of new foreign investors to the Czech Republic, as well as the expansion of existing enterprises so that the entire process is as easy as possible. We provide financial support, legal and visa consulting, put investors in contact with state institutions and developers, and advise investors on the appropriate placement of investments in the Czech Republic.

You can first discuss everything without having to go anywhere, providing investment support through our London office. We arrange both offline and online meetings for your safety.



 

Czech-British business relations

Diplomatic relations between the Czech Republic and the United Kingdom are at an outstanding level based on the tradition of good historical ties between Czechoslovakia and the United Kingdom, whether following the establishment of the Czechoslovak Republic in 1918, during the Second World War or after the Velvet Revolution in 1989.

Today the United Kingdom is the 5th biggest investor in the Czech Republic and is the 5th most important export market for the Czech economy. 

 

1.72

billion GBP of British capital in the Czech Republic

4543

British entities in the Czech Republic

1.54

billion GBP balance of trade

 

References of British investors in the Czech Republic 

Dixons Carphone Group


 

“CzechInvest played an important role in Dixons Carphone’s decision-making when selecting a European location for the establishment of a shared-services centre in 2007. Since then, CzechInvest has continued to be a significant partner for us, as it provides us with consulting and advisory services in areas connected with the specifics of doing business in the Czech Republic, knowledge of the business services sector, new possibilities of financial support, labour law and new trends in the area of HR.”

Miroslava Ambrožová
HR & Operations Manager, Dixons Carphone Group
 

Edwards


 

“Leveraging 5 years of continued success in Brno “Our decision to establish a Shared Service Centre in Brno was made back in 2008 at the beginning of the financial and economic crisis. The private equity fund that owned Edwards Group at the time was seeking ways to streamline supporting processes and therefore decided to centralize finance and customer care activities in one location. Brno was selected as logical choice partially because Edwards already had a service hub operation in Brno and a manufacturing site in the nearby city of Lutín. The strategic location, combined with a University City, a young educated workforce and competitive labour arbitrage made Brno very attractive option. The transition mainly took place between 2009 and 2011, moving finance processes (Procure to Pay, Cash Collection, Credit Risk, Accounting & Reporting, Indirect Tax or Business Controlling support) and Customer Care operations (Opportunity, Quotation and Order Entry, Invoicing, Customer Complaints Handling or Technical Support). Edwards currently has over 90 Finance, 50 Customer Care and 10 other professionals supporting its global operations in Europe and the US from Brno. Edwards Brno Shared Service Centre takes great benefit from the city’s well educated and diverse workforce and further invests in its employees education (such as ACCA). Our people centric model proved to be very successful in attracting and cultivating talent for the Edwards organization (within shared services and beyond). Our Internal Customers Surveys as well as informal customer feedback provide ample evidence of continuous improvement in Quality of Service provided by Edwards Brno SSC. In 2014, Edwards was acquired by the Atlas Copco Group which has provided even more opportunities for expanding our current successful SSC model and will add more processes (especially in Finance) in near future. In summary, Brno provides a great foundation to set up, operate and grow a Finance SSC. We are able to attract and retain the right people, invest in quality training and create opportunities for advancement. We are proud of what we have built and it is working. We are open to new opportunities and expansion!”

Roman Pavloušek
Global Finance SSC Manager, Edwards
 

Ricardo

“Ricardo is very pleased with the investment that we have made in the Czech Republic. The quality of the education system and the talent that we are able to attract in the Czech Republic has contributed significantly to the overall success of Ricardo. The continued growth of our operations in the Czech Republic remains a key part of our global strategy. Our successful experience has resulted in a commitment to further growth and investment in the Czech Republic. The combination of high-quality engineering graduates, a flexible workforce, and a convenient location means that Prague is set to be our largest Technical Centre outside of the UK.

Dave Smith, Managing Director

Smiths Group

”John Crane in Lutín, near Olomouc, has been building its reputation over the last 25 years and has become the biggest John Crane site in the world with currently over 520 employees. Along with our manufacturing capacity we also operate business services that demonstrate the world class capability of our teams. The company was initially established in 1992 as a joint venture with Sigma Pumps. The choice of Lutín in the heart of Moravia has proven to be successful thanks to its geographical location, sufficient pool of skilled and talented people and being a good entry point for further expansion to Eastern Europe.

Expansion to the emerging markets in Central and Eastern Europe has been managed from the Czech Republic. The success of John Crane in Lutín then further inspired our sister division, Smiths Medical, to set-up a manufacturing plant in Hranice, in the Olomouc region. The Shared Service Centre in Lutín provides various services to other subsidiaries of the John Crane division as well as other divisions of Smiths Group plc – the global technology group.

Our success in manufacturing excellence and business services is highly appreciated by our shareholders and is recognized by the further investments that continue to come to the Olomouc region.”

Stanislav Hájek, Regional Financial Controller CEE

 

Why the Czech Republic?

All foreign investors in the Czech Republic are united by the same point of view – a stable and high-quality investment environment. 

The Czech Republic has been a part of the European Union since 2004 and is also a member of the OECD and NATO. The country is located in Central Europe and is a medium-sized EU economy composed predominantly of services (67%) with a large share of manufacturing (31%) and stable level of agriculture (2%). The economy is very open and export-oriented (exports account for 70% of GDP), while trade with the EU comprises the majority of exports (80%). The economy is also characterised by a large share of foreign direct investment, a low unemployment rate, low public debt and stable inflation rate.

Companies most highly value the country’s educated workforce, as well as its good connectivity and high-quality infrastructure in the context of the European Union. Other advantages of the Czech Republic include its high quality of life – safety, culture, environment, affordable healthcare and education.
 

Skilled workforce

The country’s highly skilled workforce is the foundation of the modern Czech economy. The majority of the population speaks English.

Twenty-four percent of the Czech population has attained university education and 37% of the country’s residents have secondary-school education with leaving exam. Wages reach the level of 40%-60% compare to western countries with the same degree of technical advancement among workers. The average gross annual wage is GBP 14,660 across sectors. English is spoken by more than 80% of the population under the age of 30 and roughly half of the population in the 30-50 age category.

Support for science and research

Support for science and research is of key importance for the Czech Republic. According to data from the World Bank, the country’s spending on R&D amounts to 1.93% of GDP (GERD). For comparison, that is more than the UK’s 1.72% of GDP (GERD).

Sectors such as artificial intelligence and space technologies, as well as development of new aircraft, autonomous driving and electrification of engine units are coming to the fore. Within the CEE region, the Czech Republic is characterised by a larger share of R&D in comparison with industrial production. Investors have the possibility to use, for example, the IT4Innovation supercomputer centre, the ELI Beamlines laser centre, an Artificial intelligence centre and approximately fifty other research facilities and centres of excellence.

Broad supplier base

CzechInvest offers tailored supplier search to foreign clients. We have more than 3,500 suppliers in our online database.

The Czech Republic boasts a full range of final manufacturers from makers of cars, buses, locomotives, aeroplanes and aircraft engines, through hi-tech machine manufacturers, to developers of medications. Czech suppliers fulfil international certification standards and are fully integrated into both Czech and, primarily, global OEMs.

Top location

A short distance from Berlin, Vienna, Budapest and Bratislava. One hundred direct flights to London every week.

Located in the heart of Europe, the Czech Republic borders Austria, Germany, Poland and Slovakia. Germany is the Czech Republic's largest trading partner (30% of exports go to Germany) as well as its biggest foreign investor. The Czech Republic offers a dense railway network, including international transport – a direct train to Berlin, Vienna, Bratislava or Budapest departs every two hours. In 2019, there were over one hundred direct flights to London per week. In total, the Czech Republic has nineteen airports with international status, with the main airport in Prague. The country’s road transport infrastructure leads to all neighbouring countries.

A safe country for a decent life

Good availability of education and healthcare

The Czech Republic is considered to be a very safe country. The Global Peace Index ranks it among the 8th safest countries in the world. Education and healthcare are affordable, as they are financed with public funding.

Three British secondary schools are located in Prague, and there are other international preschools and elementary and secondary schools in the country’s larger cities. The Czech Republic is also known for the diversity of its landscape in the form of mountains, rock formations and water courses, as well as its countless castles and chateaux, vineyards and cultivation of hops for traditional Czech beer.

 

What CzechInvest assists with

Our services
How to start doing business in the Czech Republic
Brexit information

CzechInvest’s services
We provide a one-stop-shop for foreign investors – comprehensive investment support.
We seek out suitable locations, properties, suppliers and R&D institutes.
We provide consulting on financial support in the form of investment incentives.

Services of the Association for Foreign Investment
We collaborate with the Association for Foreign Investment, which focuses on support for investments and investors. The AFI’s members include renowned companies that cover project management for a full spectrum of investments.

 

Contact Us

Erik BolebruchForeign Officer for UK and Ireland+44 778 523 1520london@czechinvest.org