Only one person may set up a joint stock company if it is a legal person (the concentration of shares in the hands of 1 natural person is not a reason for cancellation of a JSC or the cause of its invalidity)
Two ways of foundation:
- One-off (simultaneous) - no public offer of shares
- Gradual (successive) - with public offering of shares
Simultaneous establishment - founding of the JSC without public offers of shares
Founders will be obliged to repay the entire share capital, there is no underwriting of the shares or establishing general meeting (instead of it, the founders decide together). Founders have to pay the entire share premium (= the difference between the nominal value of the share and its selling price), 30% of all shares (when repaying with cash deposits) and fully repay the non-cash deposits prior to the registration. Here too, it is necessary to make a notarial deed (also if the simultaneous method is used by one founder), the share capital here is min. 2 million CZK.
Successive way of establishing of a JSC. - establishing JSC on the basis of a public offer of shares
Used if founders cannot, or do not want to subscribe the entire share capital. Part of the share capital, which exceeds the sum of the value of their deposits, is thus subscribed to by shares (by public offer). The share capital must be min. 20 million (if the JSC with a capital of less than 20 million increases its capital by public offer, it must be increased to this amount at minimum).