Czech National Bank Licensing

Financial services is mostly a regulated sector and operating such a business requires authorisation from the Czech National Bank. Our office specialises in dealing with authorisations, licences, and registrations at the Czech National Bank. Our lawyers are in daily contact with the staff at the national bank and deal with everything required for our clients. We are experienced in arranging Czech National Bank licences in all areas of financial services. Having qualified economists in our team means that we understand not just the legal but also the commercial, accounting and more specialised parts of your business activity.

We arrange permits, licences, and registration for

Investment Services

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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 not only know the legal regulation of the issue at hand to perfection, but we also understand the usual practices  of the Czech National Bank, in addition to its exact requirements and procedures. We will take you through the whole administrative process at the Czech National Bank and prepare the required documents, even for specialisedrequirements.

The framework of licencing procedures at the Czech National Bank is similar.

The applicant must primarily prove the following have been met:

Personnel requirements

  • sufficient specialised and suitably qualified senior management

  • satisfaction of the terms and conditions laid down in law for persons having a qualifying holding

  • sufficient staff coverage for the licenced services and internal control

Material requirements

  • the minimum initial capital laid down 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 functioning in the form of information systems, IT infrastructure, office equipment etc.

Organisational requirements

  • description of the way in which financial services are provided
  • rules 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 if you want to apply successfully ifor a licence  at the Czech National Bank. It must accurate, have a clear starting point, and be realistic. It should consist of a written descritiont 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. We elaborate on the individual elements of the internal regulations here.

Do you need a licence of registration at Czech National Bank?

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