Czech Republic

Corporate Services

Obligations of business corporations: do not underestimate their regular updating

Do not underestimate regular reviews of your obligations as a company In the Czech business environment, there are many obligations that every business corporation must comply with. Especially for foreign entities, it can be somewhat challenging to navigate the ever-changing legislation and comply with all newly set rules. Let us briefly summarise the obligations: Registrations […]

Year 2023 and news in the area of data boxes for legal entities and entrepreneurs

In 2023, a significant change in the area of data boxes occurs – all sole traders, associations, foundations and some private individuals will automatically have a data box opened. Act No. 300/2008 Coll., on electronic operations and authorised conversion of documents, came into force on 1 January 2023. In the present article, we will discuss […]

Dissolution and Termination of a Company by Liquidation, Step by Step

There are many factors that may precede the termination of business or dissolution of a company and its subsequent liquidation. However, these need not include failure, losses, or other business issues. For example, a company may be liquidated when it completes the purpose for which it was created and which is set out in its […]

What does the amendment to the Register of Beneficial Owners Act bring about?

1 October 2022 is the date when the amendment to Act No. 37/2021 on the register of beneficial owners (“Register of Beneficial Owners Act” in Czech language) comes into force after being approved by the Chamber of Representatives on 7 July 2022, passed by the Senate and then signed by the President. The amendment was adopted […]

End of Trade Definition as “manufacture, trade and services not specified in Annexes 1 to 3”

On 12 May 2021, the Czech Supreme Court issued a ground-breaking resolution under file no. 27 Cdo 3549/2020 which brought a significant change to the existing practice in relation to the determination of a company’s subject of enterprise. In the Articles of Association, it will not be possible to state only “manufacture, trade and services […]

Do not forget to register your ultimate beneficial owner

As your partner we would like to inform you about an important amendment regarding the Ultimate Beneficial Owner which came into force on June, 1st 2021. If you would like to use our assistance with the registration of the Ultimate Beneficial Owner or if you would like to more information, please do not hesitate to […]

Register your ultimate beneficial owner or face the risk of sanctions

The Act on Mandatory Registration of Ultimate Beneficial Owners of Legal Entities and Trust Funds came into force in the Czech Republic in 2018. As of this year, those who fail to comply face significant sanctions. Read the current version of the amendment HERE Ultimate beneficial owners are registered using the ISSM information systemThe register […]

News from the recently passed Act on the Residence of Foreign Nationals in the Czech Republic

For those who employ or plan to employ foreigners, the following is an overview of the changes introduced by an amendment to Act No. 326/1999 Coll. on the Residence of Foreign Nationals in the Czech Republic (hereinafter the “Act”), which was promulgated in the Collection of Laws on 16 July 2019. These modifications are intended […]

Obligations of Czech companies – do not forget

We would like to use this opportunity to remind you and to introduce to you some of the acts that have already been implemented and should be reflected in your business. The reason we are opening this discussion now is the fact that some obligations are often neglected in the course of doing business or […]

Before entering into liquidation, under new rules, companies are required to substantiate to a notary that they face no criminal prosecution

Voluntary liquidation is one of the options for closing down a company. The liquidation process entails numerous obligations, including providing evidence that no criminal prosecution has been brought against the company under Section 32(2) of the Corporate Criminal Liability Act. Compliance with this new obligation must be substantiated to the notary before the company’s entry […]