2. Introduction The Czech Republic is a landlocked country in Central Europe. The Capital of Czech Republic is Prague. The official language is Czech. Total estimated population according to 2011 census is 10,535,811. Total estimated G.D.P of 2010 was $261.294 billion. Per-capita income is $24,869. The currency of Czech Republic is Czech koruna (CZK).
3. Political System The Czech Republic is a pluralist multi-party parliamentary representative democracy. The Prime Minister is the head of government & The President a formal head of state with limited specific powers. The current Prime Minister is PetrNečas. The current President is VáclavKlaus. The ruling government of Czech Republic is Parliamentary republic.
4. Legal System The Czech legal system is a “continental” legal system, more specifically, due to common historical roots, it can be said to belong to the “Germanic” legal culture. The Constitution of the Czech Republic defines the Czech Republic as a sovereign, unitary, and democratic state governed by the rule of law, founded on respect for the rights and freedoms of man and of citizens. The political system is a parliamentary democracy. The head of state is the President of the Republic, elected in a joint session of both chambers of the Parliament. The functions of the head of state are mostly representative; the genuine power is vested in the prime minister, who is in turn politically responsible to the Parliament.
5. Demographic Character The majority of the 10.5 million inhabitants of the Czech Republic are ethnically and linguistically Czech. Other ethnic groups include Germans, Roma, Poles and Hungarians. Age Structure 0–14 years: 14.2% (male 758,305; female 718,618)15–64 years: 71.2% (male 3,726,148; female 3,665,225)65 years and over: 14.6% (male 598,481; female 914,353) Literacy rate is 99.9% Sex Ratio at birth: 1.06 male(s)/female.
6. Culture The family is the centre of the social structure. Czechs prize forward thinking, logical, practical, and efficient. Rules and regulations allow people to know what is expected and to plan their life accordingly. Czechs are private people until they get to know you. They are formal and reserved. Initial greetings are formal and reserved. Most greetings include a handshake, direct eye contact, and the appropriate greeting for the time of day.
7. Tips for doing business in Czech Republic The Czech Republic is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe. Maintaining an open investment climate has been a key element of the Czech Republic's transition from a communist, centrally planned economy to a functioning market economy. As a member of the European Union, with an advantageous location in the middle of Europe, a relatively low cost structure, and a well-qualified labour force, the Czech Republic is an attractive destination for foreign investment.
