We will arrange your application of Non-Bank Consumer Credit Provider for the Czech National Bank license. We will set up and manage whole all necessary documentation, compliance, and law service and provide any other legal services needed.
A Non-Bank Consumer Credit Provider is a legal person authorized to provide consumer credit by the Czech National Bank. The initial capital of a Non-Banking Consumer Credit Provider shall be at least 20 millions CZK.
The application must contain, in addition to the requirements stipulated by the Consumer Credit Act, also data on the fulfilment of the conditions for operating as an Independent Intermediary under this Act. The application shall be accompanied by documents proving compliance with e.g. assessment of trustworthiness and competence.
Non-performing loans can be managed not only by banks or credit unions, but also by other financial institutions. The CNB's authorisation for this activity is similar to the licence of a non-bank consumer credit provider. The law defines the administration of non-performing loans as not only the collection or recovery of outstanding debt, but also other activities.
