Czech national bank licensing

Most areas of financial services are regulated and a Czech National Bank license is necessary for any business in the field. We specialize in processing permits, licenses, and registrations at Czech National Bank. Our solicitors deal with Czech National Bank permits, licences, and registrations on a daily basis. As such we can get you a permit or licence for all area of financial services.

We have already dealt with permits, licenses, and registrations for:

• Non-bank customer loan providers (17 licences)
• Payment institutions (4 permits)
• Small-scale payment service providers (34 licences)
• Electronic Money Institutions (1 permit)
• Small scale Electronic Money issue (6 licences)
• Banks (1 license amendment)
• Investment firms (4 permits)
• Investment mediators (4 licences)
• Insurance mediators (3 registrations)
• Investment companies (1 permit)
• Investment funds (3 permit)
• Exchange services providers (2 registrations)

As we deal with permits, licenses, and registrations at Czech National Bank on a daily basis, we are not only familiar with the related legislation but we also intimately understand its unwritten conventions. This helps us lead our clients through all administrative procedures, keeping them up to date with specific requirements and ensuring all documents are ready in a timely fashion.

Licensing at Czech National Bank has similar framework. Applicants have to provide following:

• Prove qualifications of senior officers
• Provide evidence that the qualified persons satisfy the conditions set by law

Qualified busines plan

• Description of provided services
• Prediction of returns and expenses in the form of statements (we also provide qualified plan processing)
• Statutory registered capital secured by shareholders or stakeholders
• Transparent origin of registered capital – the company and its shareholders /stakeholders must prove the origin of the capital (tax return etc.)
• Accomplishment of capital proportionality – the company must comply with the statutory ratio between own resources and the size of the risks taken

GUIDELINES TOWARDS PROVIDED SERVICES MUST BE SET

• Internal regulations describing customer service rules and guidelines (can be drafted by our company)

GUIDELINES FOR ORGANIZATION OF INTERNAL PROCEDURES (OPERATIONS) MUST BE SET

• Internal regulations of organization of internal operations
• Internal classification regulation
• Storage and discard regulations
• Signature regulations
• Accountancy methodology
• Internal commissions (brokerage) regulations (can be drafted by our company)

GUIDELINES TOWARDS INTERNAL CONTROL SYSTEM MUST BE SET

• Regular controls of legal obligations and internal regulations compliance
• Internal audit of internal regulations
• Internal control guidelines/methodology
• Internal regulations for AML measures
• Complaints procedure (can be drafted by our company)

GUIDELINES TOWARDS RISK MANAGEMENT MUST BE SET

• Internal regulation of risk management
• Methodology for capital proportionality calculation (can be drafted by our company)