The area of investment funds and management companies is a well known domain for our law firm. Jan Šovar is one of the architects of the current legislation regulating the management companies and investment funds in the Czech Republic, from when he was employed at the Ministry of Finance as a lead on composing of the so called ZISIF (Act on Management Companies and Investment Funds). Together with Ondřej Mikula they are co-authors of the currently sole commentary to the ZISIF on the Czech market. Due to this we are being requested by many clients in connection with the most complex questions regarding fund regulation.

We have ample experience in the sector of investment funds and asset management.

We provide advice for local and international real estate funds, private equity funds, venture capital funds, hedge funds and fund administrators ion various issues including the establishment of a fund, setting its corporate structure, realization of investments and transactions, offering and distribution of funds and preparation of relevant documents.

We provide legal services in connection with the structuring of funds and its establishment, including licencing of funds or management companies at the Czech National Bank based on the Act on Management Companies and Investment Funds. We also provide such services as compliance and  services in regard to complex cross border offerings and distributions of alternative funds and UCITS funds including relevant notification procedures.

 
 
 

Typical areas:

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Establishment of funds and corporate setting

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Our services include complete legal services in connection with establishing and the setting of structures of collective investment and funds of qualified investors (FKI), including the establishment of funds in the form of SICAVs with subfunds, mutual funds or limited partnerships (in Czech “komanditní společnost”) on investment certificates (KSIL). We are able to assist clients with establishing foreign investment structures, e.g. in Luxembourg.

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Trust funds and family property management

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Our law firm provides advice in intergenerational transfer of assets, including establishment of trust funds and other similar structures, or structures such as Family Office.

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Czech National Bank licence

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For cases when a client does not require services of a licensed management company or foreign investment fund manager, we are able to provide comprehensive services in regard to licencing the management company, administrator or self-governing investment fund.

 
 
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Cross border fund offering

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We provide a complete set of legal services for cross border fund offerings in the Czech Republic and within the EU. We advise our clients regarding restrictions with private placement as well as with other relevant requirements when distributing alternative investment funds and UCIT funds.

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Compliance and internal processes

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A part of our services is external compliance and regulatory assistance of individual portfolio managers and management companies. We assist in setting internal processes, preparing internal documents and providing services of monitoring current legislation and its future changes, including the implementation of new regulation, amendments of AML/CFT processes, DPO and training and support of necessary employees. We provide these services on a regular basis to several management firms and investment funds.

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Reorganization and liquidation of a fund

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As a part of our services we give advice in connection to mergers and other forms of reorganization of funds and other investment structures. We have a unique experience with liquidation and termination of fund and sub fund activities.

 
 
 

Selected references

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Shroders

We provided legal advice regarding the possibility of investment offers to foreign investment funds in the Czech Republic in case of a so-called hard Brexit.

 

ARETE

Selected issues of legal regulation of investment funds, including comprehensive legal services which allowed an offer of investments into funds of qualified investors in other countries of the CEE region.

 

Powder Gate

We provided comprehensive legal advice which allowed an offer of public investment into American funds comparable to funds of qualified investors in the Czech Republic.

 

Key contact

 

JAN ŠOVAR
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ONDŘEJ MIKULA
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