Who grants the licence?
Czech National Bank
Who needs a licence?
A licence for the activity of an investment firms required for the provision of investment services, i.e. receiving and passing on instructions concerning investment instruments, executing instructions concerning investment instruments on the account of the client, trading in investment instruments on one’s own account, management of client’s assets, investment consultancy, operation of a multilateral or organised trading system, and other services that are specified in the Act No. 256/2004 Sb., on Capital Market Business, or in European regulations. A licence is required for the management of assets associated with investment instruments (asset or wealth management).
We distinguish between several categories of investment firms (IF), with the complexity of the licencing process at the Czech National Bank stemming from these:
- IF with full licence and opportunity to receive client assets (starting capital of EUR 730,000)
- IF with restricted licence and opportunity to receive client assets (starting capital EUR 125,000
- IF with a licence without the opportunity to receive client assets (starting capital of EUR 50,000), in the arrangement of this version of SD is the least complicated
What will we do for you?
- we will assign a personal project manager to you, who will guide you through the entire licencing process
- we will compile an application and all attachments
- we will create complete internal regulations and procedures, including risk management
- we will compile a business plan and trading forecast in the form of financial statements and a strategy for the development of activity
- we will prepare contractual client documentation
- we will set appropriate organisation of internal operation
- we will set internal management and control systems
- we will compile rules for risk management, including a catalogue of risks and their assessment
- we will set a calculation of capital adequacy
- we will compile measures to combat money-laundering (AML/CFT)
- we will ensure that compliance, internal auditing, and any reporting to the Czech National Bank is achieved
- once you have your licence, we will be ready to regularly help you with regulation, internal auditing, or dealing with the Czech National Bank and other regulatory bodies
- turnkey compilation of all documents takes around 1-2 months
What will we need from you to do all this?
- information about the types of investment services you want to provide
- basic information about the focus and manner of providing services
- information about senior management
- information about persons having a qualifiying holding and the ultimate owner
- proof of the transparent origin of the initial (registered) capital, the size of which must be a minimum of EUR 50,000, EUR 125,000, or EUR 730,000 depending on the scope of services
- other information depending on the type of services and the scope of the application
Whom have we already arranged a licence for?
We have arranged an investment firm licence for CYRRUS, a.s., CYRRUS CORPORATE FINANCE, a.s., and Prague Wealth Management s.r.o. We have also broadened a licence for ATLANTIK finanční trhy, a.s., and Roklen360 a.s. You will find more references here.
How much will it cost?
The price depends on the complexity and scope of the licence. You will receive a detailed written offer from us following a telephone or personal consultation.
Do you want to manage the licence?
