An amendment to the Commercial Code, which comes into force on February 1, 2023, introduces, inter alia, the possibility of establishing a limited liability company in a simplified manner by using a specific electronic form for creating a Memorandum of Association, provided the following legal conditions are fulfilled: 

i) the company has no more than five participants,

ii) the company is established for the purpose of carrying on business,

iii) the company’s objects are only selected activities corresponding to the list of free trades according to a special regulation on trades,

iv) the company’s objects do not consist of more than 15 selected activities corresponding to the list of free trades according to a special regulation on trades,

v) the business name of the company must contain an addendum indicating the legal form “s. r. o.”,

vi) the contributions of the company’s participants are exclusively monetary,

vii) the custodian of contributions is the company’s director, and

viii) the company does not have a supervisory board.

The conditions for registration of a limited liability company established in the stated manner in the Commercial Register are the same as in the case of a limited liability company established in the standard manner.