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Investor Presentaiton

Only unlimited partners are permitted to manage the partnership. Audit requirements are the same as for a limited liability company. Co-operative (družstvo) Co-operatives are formed by at least three members, either legal entities or individuals, to undertake business activities for the economic or social benefit of their members. Members are not liable for the obligations of the co-operative; however, the co-operative may demand contributions from its members to cover losses. - Audit requirements are the same as for a limited liability company. Branch of a foreign person (organizační složka zahraniční osoby) · Branches of foreign businesses can conduct business activities in the Czech Republic if they are registered in the Commercial Register. -The entry in the Commercial Register must include details about the activities of the foreign business and its office in the Czech Republic, the scope of its business activities and the name and the address of its director (general manager). A branch must obtain a trade licence from the regional Trade Licensing Office. ―The liability of a branch is not limited. - Audit requirements are the same as for a limited liability company. Company formation procedure memorandum of association; obtention of trade license; - contribution payment; - registration in Commercial Register. A company is formed after a founder's deed or a memorandum of association has been com- pleted and signed. Limited liability companies and joint-stock companies must provide these documents in the form of notarial deeds. After the founder's deed or memorandum of association has been signed and filed, the fu- ture executives of the company must register their trade licences at the Trade Licensing Of- fice and obtain the documents necessary to register the address of the company. The company's founders also need to name a contributions administrator, who will be re- sponsible for proving to the Commercial Reg- ister that the contributions to the registered capital have been paid up by the shareholders. 35
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