Czech National Bank Licensing

Financial services is a mostly regulated sector and operating such a business requires an authorisation from the Czech National Bank. Our law firm specialises in dealing with authorisations, licenses, and registrations at the Czech National Bank. Our lawyers are in daily contact with the staff of the national bank and deal with everything required for our clients. We are experienced in arranging Czech National Bank licenses in all areas of financial services. Having qualified economists in our team ensures provision of the best services and advice in every part of your business, not only the legal one, but also the commercial, accounting and other specialised parts of your business activity.

 

We arrange permits, licenses, and registration for

Investment Services & Crowdfunding

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Payment Services

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Consumers Credits

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Investment Funds, § 15

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Insurance and Pensions

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We are experts not only in the legal regulation of the issue at hand, but thanks to our extensive experience, we are familiar with all the usual practices, exact requirements, and procedures of the Czech National Bank. We will take you through the whole administrative proceeding held by the Czech National Bank, prepare all necessary documents and meet all your specific requirements.

The framework of all licensing proceedings held by the Czech National Bank is similar.

The applicant must primarily prove the following requirements have been met:

Personnel requirements

  • sufficiently specialised and suitably qualified senior management

  • persons with a qualifying holding must meet all relevant legal requirements

  • sufficient staff coverage for the licensed services and internal control

Subject-matter requirements

  • the minimum initial capital required by law, as guaranteed by shareholders and members

  • ensuring the transparency of the origin and the soundness of the initial capital- the company and its shareholders/members must be able to prove the origin of the capital contributed to the company (financial statements, tax returns etc.)

  • in some cases, it is necessary to meet the capital adequacy requirements - the company must adhere to theratio laid down in law between capital and assessed risks

  • the material assurance of operation in the form of information systems, IT infrastructure, office equipment etc.

Organisational requirements

  • description of the manner of providing financial services 
  • rules of conduct towards clients
  • internal control system (compliance, internal audit, risk management, AML)
  • interrelated internal regulations and methodologies

What else will you need?

Business plan

A business plan is one of the key documents essential for a successful outcome of the licensing proceeding held by the Czech National Bank. It must be accurate, have a clear starting point, and be realistic. It comprises a written description of the financial plan and a forecast of the trading performance in the form of financial statements. We will carefully prepare a business plan for you so that it complies with all the statutory criteria and the requirements of the regulator.

Internal regulations

Internal regulations are a far-reaching set of binding internal procedures and methodologies that must be respected when providing services. They encompass rules for the provision of services, internal organisation, internal system of control (management control, compliance, internal audit) and risk management. We will compile all internal regulations for you, in line with your internal procedures, so that they are ready for you to use. 

Do you need a registration for a license issued by the Czech National Bank?

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