Investor Presentaiton
― A joint-stock company requires an
audit if one or more of the following
criteria are met for both the year in
question and the preceding year:
- net turnover exceeds CZK
80 million per annum;
― total assets exceed CZK 40 million;
the average number of
employees exceeds 50.
- Annual financial statements
must be published.
The company may decide between two
internal structures: either a supervisory
board and a board of directors (dualistic
organisation of corporate bodies), or
an executive director and a managing
board (monistic organisation of
corporate bodies). The chairman of
the managing board may be the same
person as the executive director.
A legal entity may also be appointed
as member of a board of directors.
General partnership (veřejná obchodní
společnost - veř. obch. spol. or v. o. s.)
A general partnership is formed by two or
more persons (individuals or legal entities).
- The partners in a general partnership
are liable for the debts of the company.
The names and addresses or the
registered offices of the partners must be
registered in the Commercial Register.
- All partners are entitled to act on behalf of
the partnership and are jointly and severally
liable for the partnership's obligations
to the extent of their entire property.
― Audit requirements are the same as
for a limited liability company.
Limited partnership (komanditní
společnost - kom. spol. or k. s.)
― A limited partnership is formed by two
or more persons (individuals or legal
entities). At least one of the partners must
be a general partner, with unlimited liability
for the debts of the partnership. At least
one partner must be a limited partner,
liable for the partnership's debts only up
to the amount of unpaid contributions
recorded in the Commercial Register.
The names and addresses or registered
offices of the partners, a statement on
whether they are limited or unlimited
partners, the amount contributed by
each limited partner and the amount
of their paid up contributions must be
recorded in the Commercial Register.
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