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By the end of the year, legal entities have the duty to enter their beneficiary owners in the newly established Data Register of Beneficiary Owners. The duty applies to all regular limited and joint stock companies having their owners entered in the Commercial Register and to other legal entities, for example also to trust funds. The Register is not publicly accessible and it serves for the needs of tax offices, police, the Czech National Bank, etc. The Register is expected, apart from “money laundering” prevention, to prevent conflicts of interest in the process of awarding public contracts. For entrepreneurs, the establishment of this Register represents further administrative burden. This duty was introduced based on the 4th EU AML Directive.
Legal entities entered in the Commercial Register are bound to register their beneficiary owners by 1st January 2019; other legal entities entered in other public registers, in particular associations, have to enter their beneficiary owners by 1st January 2021.
The new legislation includes no financial penalty, however, in the event of a failure to perform this duty, the court may dissolve the company and order its liquidation.
A small consolation is that motions to record filed by the end of 2018 are exempt from court fees, which shall be CZK 1000 per filing from January 2019.
If you are not registered, yet, we can assist you:
We will be happy to prepare a form for you, which can be simply sent via your data box.
Please contact us by telephone at +420 224914050, or e-mail to info@holubova.cz.
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Markéta Poledníková
Markéta Poledníková
"I was extremely satisfied with the services provided by Holubová advokáti. The collaboration was always professional, systematic, and attentive to detail. At the same time, I greatly appreciated their human and personal approach. Everything was explained to me clearly, I had ample opportunity to ask questions, and I felt a genuine interest in resolving my situation. In my view, the combination of expertise and personal care is exactly what one should expect from legal services. I can wholeheartedly recommend them."
Martin Herna
Martin Herna
"I would like to take this opportunity to express my sincere gratitude to the law firm Holubová advokáti s.r.o. for their professional yet genuinely compassionate approach in an exceptionally difficult period of my life.
The firm successfully represented me in a dispute with my health insurance company concerning reimbursement for a medication that enables me to actively fight an oncological illness and has already begun to show positive treatment results.
From the very outset, I felt a high level of expertise, thoroughness, and a genuine interest not only in the case itself but also in the person behind it. All legal steps were explained clearly and comprehensibly, and the communication was factual, calm, and supported by clear arguments. In a time of great uncertainty, this provided me with a much-needed sense of reassurance and trust.
My special and greatest thanks go to JUDr. Klára Dvořáková, whose commitment, precision, and empathy meant more to me than can be conveyed in just a few sentences. Her work was not only highly professional but also marked by human sensitivity and deep respect for the seriousness of the situation.
I can wholeheartedly recommend this law firm to anyone seeking top-tier legal assistance combined with a truly human approach."
Dietmar Repka
Dietmar Repka
"We express our recommendations for the law firm Holubova Advokati.
Holubova Advokati was able to resolve a project for us with confidence, composure, and perseverance that German experts had deemed hopeless.
About 80 years ago, my grandparents and my father had to leave their home. The property has now been returned to our family through the inheritance that was initiated, and thanks to the excellent work of the law firm.
During the two-and-a-half-year negotiations, there were no language problems; everyone was always well informed about the current status.
Keep up the good work, everyone."