In 1998 the Czech government passed a new Tertiary Education Code, 111/1998 Sb., entitling private schools to offer higher education. The University of Finance and Administration was founded the next year. VSFS expanded in 2001, opening new campuses in
Most and
Kladno. In 2002 the university entered into cooperation with the
City University of Seattle in the United States, and in 2004 joined the
Erasmus programme and
European Credit Transfer and Accumulation System (ECTS). In 2009 VSFS received state approval of its doctoral program and became a university. Since September 2016, the VSFS has its branch in Karlovy Vary, the building is in the city center, on the T.G. Masaryk Avenue. == Study programs ==