Setting up a company in the Czech Republic

I recently went through the process of setting up a company in the Czech Republic and since I found that most guides online are quite poor and/or outdated I decided to write about how I did it since I’ve done a lot of research to figure out the simplest way possible.

Your options

You have three ways you can set up a company. Firstly is the most traditional way which is having your lawyer do it for you. While this is a great option for more complex business with many partners, etc. it is also the most expensive option. If you choose to go with this option then stop reading and email your lawyer, they will guide you through the rest. This will typically cost around 25k for a standard company with one owner and increases from there based on the complexity

An alternative if you don’t want to go through a lawyer or your business is simpler, but you still don’t want to run around all the places yourself are companies that can start your company for you. These will run you 15k.

Lastly, there is the way I went with. Do everything yourself. This I would recommend for anyone with a two to three days of free time looking to save on expenses. I personally spent about 8k on this overall, but you could bring it down to a little over 7k if you aren’t pressed for time like I was. In the rest of this post, I’ll describe how I went about doing this and hopefully, it will sound much easier than the many articles I found online which made it seem quite intimidating.

Setting up the company yourself

Setting up a company yourself can be broken down into three phases. If you’ve decided on a name and what you’ll do then you’re already basically done with phase 1. Remember to look it up on and make sure there is nothing with a very similar name since that wouldn’t be allowed.

The second phase can be done in one or two steps depending on your mood. You either just contact a notary and go to your first meeting or go to the post office and then meet your notary. Either way, you will need all the basics like criminal history and proof your company has permission to operate in its HQ.

The criminal history is simple to understand for anyone who is Czech, but how does the company base work? Well, there are two options. If you own the land on which you are setting your company headquarters then you just need to write that you are given the company permission and then bring proof of ownership of the land. If someone else owns the land you need their written permission to base the HQ there and proof they own it.

Now that you have the two or if you’re just going to have the notary get them for you its time to create the company. This is basically half-hour at a notary where you sign a bunch of papers and by the end, you are walking away with a company. Now technically that company can’t conduct bossiness till you complete phase 3, but nevertheless, you now have an actual company.

Phase 3 starts by dropping by any bank and pay down the funding capital of the company. Next, go to your local council and get a “živnostenský list”. Once you have all of this go back to your notary and they will register you in the official databases.

That’s it. This seemingly daunting process of setting up a company yourself broken down into 3 simple phases. I still highly recommend you do some extra research just so you understand things better and seek proper advice from a licensed professional, which I am not, but nevertheless, this is how easy it can be to set your company up. Just let the notaries do almost all the work at almost no cost compared to a lawyer.

My Experience with Arch

I’ve now been using Arch for several weeks and as promised here is my experience.


I have to say installing Arch scared me. Hearing how difficult and problematic It can be brought to mind my early struggles with setting up networking and servers many years back. I can now safely say that while I did run into annoying issues they were all the fault of Windows.

Now of course you might be baffled “How is windows to blame for installation issues of Arch?” Well, it’s simple. You need to install Arch from a live flash drive. I did exactly that in windows by first formatting the flash drive and then putting a live, bootable instance of Arch on it. The issue was that windows decided it was appropriate to do this in a partition of the flash drive. Now while that might work for many it didn’t work with how my motherboard BIOS is set. After an hour or two of struggling with making the installation of Arch on my SSD be booted by default, I noticed the live boot was on a partition. As soon as I dded the live boot using a UNIX machine all my issues were resolved. 

The rest was smooth sailing and I have to admit quite enjoyable and educational.

Setting everything up

As you probably know Arch is basically a blank clay for you to shape as you wish. For someone experienced with using Linux as a daily driver might already know exactly what they want, but for me I was like a kid in a candy shop. Whatever I needed I found 3 different ways to do it and I ended up trying all of them to pick what I wanted to stick with. This has been and continues to be one of my favorite parts of Arch. 

I went from Gnome to i3 within a day and then started customizing it. I went through numerous terminal emulators, different setups, and hundreds of other slight modifications until I arrived at where I am today. I don’t think I’ll ever be really done customizing, adjusting and tweaking it. Now to some this may sound horrible.”I have to constantly try to make things work?” The answer is a simple no, but you can if you want to and I definitely want to because it results in me learning more about the system and just brings a smile to my face every time I sit down in front of my computer.


So what is it like to use? Whatever you want it to be. I think my experience with locking the computer describes it perfectly.

 When I started I just didn’t lock it since nobody else has access to the computer. A few days after I got i3 I switched to using i3lock. It bothered me that it was just white so soon after I started typing out i3lock -i ~/Pictures/Wallpaper/pic.png This was annoying but just looked so much better. And finally about a week later I created an alias for that command and just typed i3lock. I now have plans to set a hotkey for i3 to lock with the image when I get back home from my current traveling.

Why I’m switching to Linux on my primary computer

I have been floating between operating systems most of my life, but one thing has been pretty constant. My main computer has almost exclusively run windows. While this is great when I want to play games or edit photos in Lightroom, I spend more and more time in a text editor writing code. This is how I have come to experience the biggest shortcomings of Windows.

When I was moving into the dorms of my university I decided to only bring my MacBook. I wrote up most of my assignments in LaTeX using Atom. After a few assignments, I got fed up with making the same file structure in the assignments directory so I wrote a simple bash script to do it for me. This has started the rapid transition to using the bash terminal all the time.

Before I get into the issues I have experienced I should mention that I have used one Linux distro or another on my servers all the time, but the amount of time spent in them has been very little compared to all other devices.

As the year went on I became entirely dependant on the terminal where it became the first thing I launched it the morning and one of the last things I used in the evening. The speed with which I could get things done was unparalleled to using the GUI and I was loving it.

In the spring term our data science module and with it my love for the terminal grew. Using it to manage my tasks through GitHub, installing new python packages, or even just making a few new folders was done exclusively through the terminal.

Then corona hit and universities moved their learning online so I decided to come back home. Since my desktop PC has a better keyboard, bigger monitor, and overall nicer amenities than just using a MacBook I started doing my assignments on it. This is when my addiction to the terminal has started showing. I became frustrated with how clunky everything was and even resigned to using an online editor for LaTeX and installed Anaconda. With this, I soldiered on getting all my assignments done deciding I will try to fix my problems once my finals come since this was only a few weeks away.

The exams have come and gone, but I still haven’t done anything to fix it since I ended up being very busy with a new project I am working on. A few days ago I have finally snapped when I tried using the conda command in both the power shell and windows command prompt and both just threw errors and wouldn’t even acknowledge I had Anaconda installed.

I had to install an OS with a bash shell on my tower ASAP if I was to continue using it. Initially, I considered turning my PC into a Hackintosh since it would integrate well with everything else. A quick google search later the number of parts I would have to swap out made this a null option. My only choice now was Linux.

Originally I planned on running Windows in a type 1 hypervisor what happened next made me decide I need a break from Windows for a while.

As part of installing Linux, I was clearing out an SSD and HDD and moving any important data from there on the other drives in the PC. I did this since I wanted two drives to format and directly give to whatever I distro would choose. As I was going through some of the files on the SSD I got a weird pop up. Windows wouldn’t let me open a folder that I created and contained my files. I quickly checked I was on the account with the highest permissions and tried again to no avail. I then put the drive in a different machine and used root to force my way in. To my surprise, there were no issues with opening the folder and accessing the files. Trying to open the same files again in the main tower windows once again wouldn’t let me.

Then I realized what was going on. Windows probably has a permission level that the user can’t access and for some reason, this folder was covered by it. I found this absolutely outrageous. If as a user I want to go ahead and move or remove even system files I should be allowed to given sufficient privileges. The fact I couldn’t basically means I don’t even have control of the files on my own computer and this is something I will never be ok with. I can understand when such a restriction of access is present on phones or tablets, but they have no place on a computer. It was because of this that I will not be installing windows even in the hypervisor anytime soon unless it is absolutely necessary.

I hope you enjoyed my story of giving up on Windows for the foreseeable future.

Trading Competition

Today I’ll be taking part in an inter-university trading competition focusing on US markets. In this first-ever post on here, I’ll break down my thoughts and approaches to this competition.

Trading in such a short time scale is entirely new to me since my regular trades usually last at least a few hours and above. There are three main things on my mind going into this. Firstly there is the fact that very few of my trades will be part of trading a large market trend. Most of my trades will be against algo trading systems, so it’s essential to keep in mind how they typically approach trading. Lastly, technical analysis and short term market momentum will be my primary source of trades. For me, this means I have to adjust my methods since I typically use these for timing entries and not for my whole trade, so the approach will have to be quite different.

The tools that I will have access to during the hour will be the following. Firstly a computer with Bloomberg terminal on it, which I will have split into three parts. The first one will be news with Bloomberg TV playing for some background noise while I focus. There is also the small possibility that they say something interesting that gives me a trade idea. The next section will be the current stock I’m looking at with some basic information. In the third and final section, I’ll try to have candle charts of every open position I have. Next will be my laptop with an iPad serving as a secondary screen. The tablet will have the trading interface open. My laptop will then have the chart with indicators of my choosing. The last thing will be my phone with a list of stocks I’ve picked beforehand with expectations that their volume is high enough to be nicely tradable on such a short time scale.

My focus will be primarily on large-cap stocks with high volume. This is for two reasons. Firstly I don’t know how the system plans to do its paper trading. If the system follows volume, it could be restrictive with larger trades. The more important thing, though, is that they are more likely to have retail investors reacting to the news. This, in combination with how quants trade could provide me enough price action even on these small time scales.

It is essential to understand that I will not be trading the news itself. My focus will be on taking advantage of the price movement which the news cause. I’ll always have a stop loss to save me from an overreaction to the news. However, the price will still follow basic rules of technical analysis as it forms the 4 hour and daily candles that I would usually trade.

My main tools of technical analysis won’t be the standard combination of RSI, MACD and Bollinger bands which many retail investors gravitate towards. This is because I don’t use them for my normal trading, so I am not as familiar with them. Therefore it would be risky to try to learn this on the fly. Instead, I will use three simple moving averages primarily as support and resistance lines. Then I’ll use Parabolic SAR as my primary trading strategy since I have seen it work very well with high volume stocks even on short time frames. Lastly, an indicator I’ve found to be excellent at catching short term market moves is TD sequential. I use it quite often to time my entries and sometimes to exit my positions manually, so I want to see how it stands up in these time frames.

Of course, beyond indicators to help me pick trades that make sense, I’ll still use the more traditional techniques. I’ll add a small amount of horizontal support and resistance lines from higher time frames. Candle shapes will be an integral part of where I set my stop loss. On top of that, both will help me decide what trades to take and which aren’t worth the exposure.

The last thing that needs to be clarified is how I will manage my risk. Since this is a competition, I’m willing to take on more risk than I would typically in order to have a chance to have a notable change in the value of the account. I’ll split the account into 20 lots. Most trades will be one lot each, with the possibility of 2 lots if I’m very confident in the trade and have a tight stop loss. I was lead to believe that leverage will be accessible on these accounts. Ordinarily, I wouldn’t go beyond 1:4, but here I’ll use up to 1:8 for longs and 1:4 for shorts. If it is possible, I will also take advantage of leveraging an open position. I’ll only do this once my stop loss can be set at break-even or even profitable point and only if I deem it necessary.


The information contained on this website and the resources available for download through this website are not intended as, and shall not be understood or construed as, financial advice. I’m not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.