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Investor Presentaiton

Acquisition and disposal of Czech legal entities Generally, for foreign individuals and legal entities, no restrictions apply to owning a business or holding shares in Czech companies. Nevertheless, certain potentially risky investments made by individuals or entities from outside the EU are subject to screening as described below. Foreign persons may acquire and sell up to 100 percent of the share capital of a limited liability or joint-stock company (most commonly used legal entities). Other legal forms are also available (European Companies, general partnerships, limited partnerships, cooperatives). The transfer of an ownership interest in a limited liability company must be recorded in the Commercial Register. The shares of certain joint-stock companies are registered with the Central Securities Depository Prague or deposited in escrow at the Central Securities Depository Prague, a bank or other entity entitled to maintain records of investment instruments. In the case of shares traded on the regulated securities market in the Czech Republic or another EU member state, the acquirer is obliged to notify the company (the issuer) and the Czech National Bank (CNB) if their share of the company's voting rights exceeds a certain level. 128
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