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Obligations of Czech companies – do not forget

11.7.2019
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 […]
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Before entering into liquidation, under new rules, companies are required to substantiate to a notary that they face no criminal prosecution

26.3.2019
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 […]
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Failure to deposit financial statements in the Collection of Deeds as a risk of company dissolution

17.7.2018
Each company is obliged to publish mandatory documents in the Collection of Deeds kept for each company by a commercial court. What penalties may be imposed for a failure to do so? And are there any changes ahead? Such mandatory documents include founding documents, financial statements, annual reports and related-party reports. This obligation has been […]
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With unemployment down, the demand for qualified labour is up

21.5.2018
Unemployment in the Czech Republic has hit its lowest ever level. According to analysts, this trend is expected to continue. On the other hand, the number of vacancies has increased, also as a result of seasonal work. Figures from the Eurostat agency show that the Czech Republic has the lowest unemployment rate in the whole […]
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New public register of beneficial owners

5.3.2018
With effect from 1 January 2018, legal entities and trusts have been subject to a new obligation to record beneficial ownership in the register of beneficial owners. The public register has been established by an amendment to Act No. 304/2014 Sb., on Public Registers of Legal Entities and Individuals and on the Register of Trusts […]
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Efficient facility management to optimise costs

31.5.2016
Facility management can enable financial costs of operation and maintenance to be set at an advantageous level. In addition, a favourably arranged system of property management and facility maintenance will release time and resources for further development of your business. Is facility management starting to appeal to you yet? The industrial property market in the […]
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Online registration by notaries

21.7.2015
The Act on Public Registers of Legal Persons and Individuals, effective since 1 January 2014, now makes it possible for notaries to enter data in public registers. However, in practice, they have been permitted to make such records only since May.
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Archive certificate no longer required for company strike-off from the Commercial Register

23.3.2015
Enclosures that must be provided with an application to strike a company off the Commercial Register also include a certificate confirming that the method of dealing with a liquidated company’s documents has been discussed with the regional state archive having jurisdiction over the liquidated company’s registered office.
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Governance system of joint-stock companies changed

24.6.2014
The Companies Act which took effect on 1 January 2014, has brought a number of changes. One of them applies to the management of joint-stock companies.
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Notarial deed form required for some powers of attorney

15.1.2014
Section 441 (2) of the new Civil Code (Act No. 89/2012 Sb.) provides that, if a special form is required for a legal act, a power of attorney must be granted using the same form. However, this seemingly simple provision will cause major complications for a number of companies, both in terms of time and finances.
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