Entities recorded in Czech public registers must register their beneficial owners in a new register maintained by the registration courts. The rules establish a one-year time limit for such registration, effective January 2018.
As the deadline approaches, there are indications that a lot of information in the register of beneficial owners is still missing.
The beneficial owner is generally understood to be an individual who, directly or indirectly, exercises decisive influence over the management of a legal entity. Czech law imposes a duty on all legal entities to know their beneficial owners and, on certain entities, to register the beneficial owners in a new register.
Read a December 2018 report prepared by the KPMG member firm in the Czech Republic