Good governance / Legal Reform and Transparency
This section details initiatives to make government a competitive advantage. It includes analysis and reports of government initiatives, as well as data on accountability and performance measures.
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Spotlight issue
Register of beneficial owners – back in a new form
As you are probably aware, on 1 June 2021, the new Act on the Registration of Beneficial Owners, No. 37/2021 Coll., implementing the Fifth Anti-Money Laundering Directive (EU) 2018/843 of 30 May 2018, will come into force.
This new act (replacing the existing legislation) is designed to “again” increase the transparency of legal entities and to help resolve and clarify the relationships between and the structure of legal entities recorded in the commercial register. The change was made because the existing legislation was insufficient in this regard.
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Revamped rules for crowdfunding in the Czech Republic
On 10 November 2021, new rules for crowdfunding will come into force. However, these rules will not affect consumer financing (as represented e.g. by the zonky.cz project: people lending to people), but strictly to entrepreneurs and SMEs and loans in amounts of up to EUR 5 million.
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French court outlines new permanent/fixed establishment concept for digital sector
The court’s decision brings an entirely new view on a permanent/fixed establishment for companies operating in a digital sector. Will other EU member states also get inspired?
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