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

21.10.2022
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?

29.9.2022
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”

20.9.2021
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

8.6.2021
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

22.3.2021
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

29.10.2019
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

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 […]

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 […]

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 […]

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 […]