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Distribution of funds accumulated in Limited Liability Company reserve fund

Czech Republic - November 20 2014 Since 1 January 2014, limited liability companies in the Czech Republic are no longer required to create the so-called 'reserve fund' of up to 10% of…

Jan Dudák

Contract for work: demonstration of functionality as a condition to completion

Czech Republic - March 26 2014 The new Civil Code, effective from 1 January 2014, which removed separate regulation of the commercial and civil relations, has also partially…

CzechInvest’s Welcome Package – only a half-hearted effort to fast track immigration procedures for foreign managers

Czech Republic - September 17 2013 CzechInvest (the Czech investment and business development agency tasked with supporting foreign investors) recently launched a "Welcome Package"…

Martin Dankovsky

New Czech National Bank reporting rules

Czech Republic - September 3 2013 A new Czech National Bank (CNB) Regulation No. 235/2013 ("Regulation") has come into force on 17 August 2013 modifying existing foreign investment…

Michaela Hájková

Ownership of buildings and land parcels under buildings in Czech law after 1 January 2014

Czech Republic - August 27 2013 The principle that a building does not constitute an independent thing and as such it cannot have an owner who is different from the owner of the…