If you’re an accountant in the Czech Republic—or a business owner working with one—then anti-money laundering (AML) responsibilities affect you directly. Under Act No. 253/2008 Coll., which governs measures against money laundering and terrorist financing, accountants are considered “obliged persons.” This means you are legally required to monitor, verify, and report client activity that may be suspicious.

While the law may appear technical and abstract, here’s a clear and practical guide—including what accountants must do and what clients should prepare.

Key Updates on Minimum Living Costs and Housing Expenses for Visa Applicants

Starting from January 1, 2025, new financial requirements for foreigners applying for residence permits in the Czech Republic will take effect. These changes affect the minimum subsistence amount and housing cost requirements necessary to prove sufficient financial means for a stay in the country.

1. Minimum Subsistence Amount (Životní Minimum)
As of January 1, 2023, the official minimum subsistence amount in the Czech Republic is 4,860 CZK per month. However, when assessing financial requirements, different amounts apply depending on family composition and age.

Important Updates in Accounting and Tax Regulations

Starting January 1, 2025, significant changes in payroll calculations, taxes, and social security contributions will take effect in the Czech Republic. Our professional accounting services will help your business stay compliant and avoid costly mistakes.

As cryptocurrency gains popularity, understanding its tax implications becomes increasingly important, especially for investors and miners. The taxation of cryptocurrencies in the Czech Republic is subject to specific rules and guidelines that vary depending on the type of transaction. Below, we will explore these regulations in detail, providing concrete examples for clarity.

Changes to Agreements on Work Performance (DPP) for 2024-2025 Amendments to the Labor Code of the Czech Republic introduce significant changes to the conditions for using agreements on work performance (DPP), a popular form of temporary employment or supplementary income. These changes will affect both employers and employees, with new requirements for central reporting and limits on contributions.

To align with the rise in consumer prices, the Czech government is once again updating the living expense standards. Therefore, those who need to renew their residence permit after January 1, 2023, will need to account for an increase in the income amount required for renewal.

For the fourth time this year, the Czech government is updating the living expense standards due to a sharp rise in inflation, which increased from 2.2% to 9.9% as of July 1, and by September 12, 2022, had reached 17.2%.

This means that for those needing to renew their residence permit after October 1, 2022, they will need to consider that the income amount required for renewal will increase.

This year, the Czech government is changing the living expense standards for the third time due to a sharp rise in inflation, which has increased from 2.2% to 9.9%.

This means that for those needing to renew their residence permit after July 1, 2022, they must account for the increase in the income amount required for renewal.

For example, for a single adult living in a rented apartment in Prague: — After July 1, 2022, an income of 14,741 CZK (net) will be required for renewal.

Below are the detailed standards:

1. Minimum Subsistence Amounts (in CZK, per month):

   • For an individual living alone — 4,620 CZK
   • For the first adult family member — 4,250 CZK
   • For the second and each subsequent adult family member — 3,840 CZK
   • For a dependent child aged:
     • Under 6 years — 2,360 CZK
     • From 6 to 15 years — 2,900 CZK
     • From 15 to 26 years — 3,320 CZK

2. Living Expense Standards:

   Number of People in Family	Prague
   1	10,121 CZK
   2	13,629 CZK
   3	18,312 CZK
   4 or more	22,495 CZK

Minimum Subsistence and Living Expenses for Residence Permit Extensions from April 1, 2022

On March 30, the Czech government revised the living expense standards, effective from April 1, 2022. This means that for those needing to renew their residence permit after April 1, 2022, the required income amount will increase.

For example, a single adult living in a rented apartment in Prague: — In 2022, an income of 12,861 CZK (net) will be required for renewal.

Below are the detailed standards:

1. Minimum Subsistence Amounts (in CZK, per month):

   • For one person — 4,250 CZK

   • For the first adult family member — 3,910 CZK

   • For the second and each subsequent adult family member — 3,530 CZK

   • For a dependent child aged:

     • Under 6 years — 2,170 CZK

     • From 6 to 15 years — 2,670 CZK

     • From 15 to 26 years — 3,050 CZK

2. Living Expense Standards by Population Size: