Are you about to start an M&A negotiation in the Czech Republic? Are you already part of one? If so, you should be aware of a relatively new and comprehensive regulation of pre-contractual liability under Czech law.… Continue Reading
With effect from 1 March 2017, Czech Act No. 284/2009 Coll. on Payment System (the Act) has been amended in accordance with the Directive No. 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (the Directive). One of the purposes of the Directive … Continue Reading
An amendment of the Czech Insolvency Act was published in the Collection of Laws on 3 March 2017 and becomes effective on 1 July 2017. It brings important changes for personal bankruptcies, as well as regulation of corporate insolvencies. Two issues that might be of interest to corporations, regulation of forum shopping and prohibition of … Continue Reading
In this Article, I will share with you some legal insights regarding investment in the Czech Republic and summarize important points characterizing legal environment here in 2017. If you are thinking about investing in the Czech Republic you will need to consider a wide range of factors from technical to tax. It is likely that … Continue Reading
Large companies in the Czech Republic will have to comply with new corporate and social responsibility obligations. First, starting January 14, 2017, employees in joint-stock companies with more than 500 employees in an employment relationship will have the right to elect and recall at least one-third of members of the supervisory board, unless articles of … Continue Reading
Significant changes affecting consumer loans regulation in the Czech Republic are coming. The new consumer loans law (Act No. 257/2016 Coll., on consumer loan) was approved during the summer and will be effective as of 1 December 2016. It implements current European Directives into Czech laws, in particular the Directive on credit agreements for consumers … Continue Reading
In the Czech Republic, each purchase of real estate is subject to a transfer tax, currently at the rate of 4% of the value of the transferred property. For years, this tax used to be paid by the sellers. However, as of November 1, 2016, the tax obligation has been shifted to the buyers.… Continue Reading
