Keep up with the latest news about trusts

From time to time we publish important and interesting news on this page.

If you would like to receive the latest news directly, click here to subscribe to our newsletter.  We typically send a newsletter around once per one or two months, so we promise not to clog your inbox
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19 July 2017
Trustee Training Seminar - In English

We are pleased to announce that after summer we will begin running regular Trustee Training Courses.

These are extensive two-day courses and are endorsed by APRSF - Asociace pro podporu a rozvoj svěřenských fondů, z.s., the Czech Republic's professional trust organisation.

The course provides an in-depth understanding of the structure, history and practical applications of Trusts in the Czech Republic as well as detailed coverage of the duties and obligations of trustees.

This course is designed for:

  • People who are considering, or have accepted, appointment as trustee of a Czech trust
  • Lawyers, financial advisers, notaries and others who would like a core knowledge of trusts - suitable for providing clients with advice
  • Anyone else seeking a more in-depth knowledge and understanding of trusts in the Czech Republic

The first two courses are planned for:

  • English Course  - 5 & 8 Sep
  • NOTE:  This is may be the last time we deliver this course in English.
  • Czech Course 12 & 15 Sep

If you are interested in more information about the course and for registration details, see the detailed course syllabus or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

25 May 2017

Inheritance Planning Seminar for US Expats

8 June, 2017

 

This free seminar covers important issues around succession planning for Czech resident US expats.

Because of the cross-border issues involved, it is critically important for US people resident in the Czech Republic to consider carefully the issues around wills and the treatment of their property in the event of death.

If you are a long term expat in CZ, you also need to be aware of Regulation (EU) No 650/2012 of the European Parliament. In a nutshell, this says that, if you are 'habitually resident' in the Czech Republic, then when you die, your inheritance will be dealt with by a Czech notary under Czech law. For most people, this is NOT a good thing. Cz inheritance law has forced inheritance and a number of other aspects that are much more restrictive than US law.

The good news is that it is possible to 'contract out' of the Regulation by making a will specifying that your inheritance is to be dealt with according to the laws of your country of citizenship. Because of the complex issues involved, failure to plan often leads to disastrous results, so this is a must-attend event US expats

This seminar will be held in English.

Presenters will be:

      • Jeff Bussell - US Attorney
      • James Turnbull - Czech Trust specialist
      • Gabrielle Reilly and Jason Watters - expatadvisors.com.

 

The seminar is free of charge but we do ask you to cover the cost of any drinks and food you order from the restaurant.

8 June at 18:30–20:00
Restaurace a pivnice Bruska
Dejvická 20, 16000 Prague, Czech Republic.

To register, simply email us at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

25 April 2017

Important Postive Tax Changes

There have been some important and positive changes to the tax treatment of Czech Trusts.  These are especally helpful for clients who would like their trust to own shares in their family business, or indeed any other company.  You can read more about these changes in our article.

 

27 March 2017

What to Notarise?

In our quarterly newsletter we provided additional guidance to Trustees on which documents need to be notarised.  You can read the full newsletter here.

 

14 December 2016

 

13 December 2016

Register of Trusts

As you are probably aware, there has been a proposal on the table for a new register of trusts for some time.  We thought we would take this opportunity to update you on what’s happening and the likely structure of the new register.



Part of the register requirements have already passed into law, and these will require all trusts (and companies) to declare who their ‘skutečný majitel’ is.  (In English we call this person the ‘Ultimate beneficial owner’).

For trusts, this person will be the one who exercises effective control over the trust.  Usually this will be either the trustees, but might in some cases be the founder.  Who exactly it is will depend on the structure of the trust.

If we are administering your trust, we will be advising you in the new year who you should declare as the ‘skutečný majitel’ and will prepare the necessary deceleration as a part of our standard Administration service.

It is important to note that this information will not be publicly accessible and will only be available to the state and to other people with a legitimate interest (eg. banks).

The second part of the register is still passing thorough the final stage of the legislative process.  However, it seems unlikely that it will change now, so we can inform you of what we expect to be required.

Essentially most Trust documents will need to be filed in the register and each trust will be allocated an Identification number. However, the public will have only very limited access to this information, being able to see only:

    • The name of the trust
    • Its purpose
    • The date it commenced
    • The trust’s IČ: (identification number)
    • The number of trustees of the trust and how they act (ie, individually, by majority or unanimously)
    • The date on which the trust was registered
    • A little additional data only if the trust owns a large business, and
    • Anything else that the trustees voluntarily wish to make public (such as the names of the Trustees)

Note that this list does not include the name of the founder, the supervisor if any or the beneficiaries.  Also important to note is that, unlike companies, there are no fees for filing documents with the register.

In addition to this public information, you will also need to file these details – but they will be non-public:

    • The name, address and identifying details of the founder, the supervisor - if any -and any named beneficiaries and, for beneficiaries who are not specifically named, how they are defined.
    • The name address and identifying details of the ‘skutečný majitel’ – and a statement as to the basis on which he or she is identified as such.

Any trust documents which include any of the non-public information (and of course this means almost all Trust documents including the statute and contract), will also be non-public.

Is this good or bad?

For most of our clients this is a good result, striking an excellent balance between protection of your personal privacy and the need to eliminate potential misuse of trusts.  It will also help significantly build the acceptance of trusts, especially since you will now have the all important Identification number as well as the ability to provide people who ask with an extract from the register. 

If you have any questions about how the new register will affect you, please don’t hesitate to This email address is being protected from spambots. You need JavaScript enabled to view it..

And Finally

As many of you know, for every new trust we establish, we provide funding to Nadace Partnerství to improve our childrens' world by planting and protecting trees in the Czech Republic. This Christmas we are making another donation and we look forward to making even larger donations as our business prospers in the future.  You can learn more about Nadace Partnerství on their website.  

For those of you who established a trust this year, here's a note of thanks from Nadace Partnerstvi

 

29 September 2016

Memoranda of Wishes – What are they and how do they work?

If you have a trust, or are setting up a trust, it is important to understand a little about what a Memorandum of Wishes (a MoW) is, and how to create one.

Today we published a new article with more information on this topic.  It can be found here.

 

12 September 2016

Seminar for Lawyers, Tax Advisers, Notaries and Financial Advisers

We are running another of our training seminars on 10 October in Liberec. The seminar will be in Czech, but if you have colleges or contacts who might be interested, please let them know.

You will find more information about the seminar here.

 

10 September 2016

APRSF Public Seminars

As you may be aware, we are a foundation member of APRSF – Asociace pro podporu a rozvoj svěřenských fondů, z. s. (or in English, The Association for the Support and Development of Trust Funds). Because of the current surge in both the interest in, and the use of Trusts, the APRSF is running a series of public seminars. We are one of the contributing presenters of the seminars,

The other presenters include leading Czech legal and tax advisory firms. Even though the presentations are in Czech we thought we would let you know about them as they might be of interest to you, to clients, or to colleagues.

If you would like more information about the seminars or if you want to register, please contact us by email at This email address is being protected from spambots. You need JavaScript enabled to view it.

The full invitation is here (click to enlarge)

 

1 September 2016

Guidance for Trustees - Conflict of Interest

We have recently published the first of what we expect to be a series of articles designed to help Trustees do their jobs correctly. The first of these articles is on the subject of Conflict of Interest.

As a Trustee, you must both recognise and avoid situations where your own interests conflict with:

  • The best interests of the Trust,
  • The best interests of the beneficiaries
  • The purpose of the Trust

You must also be careful to ensure that your behaviour in relation to conflicts of interest does not jeopardise your duty of managerial care.

Our article, which is available online here, explains how to deal with these situations if they arise.

 

7 March 2016

The Importance of Proper Administration

The importance of keeping proper records for trusts including an accurate and up to date minute book was recently highlighted in a decision of the Royal Court of Guernsey

Our article explaining the significance of this decision can be found here.

If you have any questions, or if you are interested in the professional administration of your trust, This email address is being protected from spambots. You need JavaScript enabled to view it..

 

11 January 2016

New Trust for Zemský akciový pivovar


Svěřenské fondy a trusty s.r.o. is very proud to have worked, together with Barlens law office, on the creation of the Zemský akciový pivovar Supplier Trust.

This unique concept is a great example of one of the many innovative uses to which svěřenské fondy can be put. Zemský akciový pivovar's structure uses a trust to help build their business by enabling the publicans that sell their beer to become beneficiaries of a trust that holds Zemsky shares for them at a nominal value.

As the publicans reach pre-agreed targets, the shareholdings are transferred to them from the Trust, allowing them to grow with, and share in the success of the brewery.

It was a pleasure for us to work with the team from Zemský akciový pivovar, and we enjoyed tasting their excellent product in lieu of the standard tea or coffee offered at most business meetings!

For more information about Zemský akciový pivovar and their excellent products, visit their website at http://www.zemskypivovar.cz/

 

16 December 2015


Christmas is a time for giving:


“Then the Grinch thought of something he hadn't before!

What if Christmas, he thought, doesn't come from a store. What if Christmas...perhaps...means a little bit more!” 
― Dr. Seuss, How the Grinch Stole Christmas! 

Charitable Giving during 2015


As many of you know, for every new trust we establish, we provide funding to Nadace Partnerství to improve our childrens' world by planting and protecting trees in the Czech Republic. Eva Polakova, our client Services Manager visited Nadace Partnerství at their offices in Brno on Monday to present them with our first donation. Our gift this year is being used to fund the "Healthy Trees for Tomorrow" project, which professionally treats dozens of old trees every year and aims to educate the owners of these beautiful and historical important trees.



We are proud to be able to give something back in this way, and we look forward to repeat visits with larger donations as our business prospers in the future.  You can learn more about Nadace Partnerství on their website


Special Offer for Charities


One of the best parts of our business is the establishment of trusts for:
-  Charities
-  The parents of disabled children, and
-  Other worthy causes

In the spirit of Christmas, we have decided to offer the establishment of trusts of these types at cost between now and the end of February.  That means that the total cost, including notary fees etc of establishing a trust for your worthy cause will be just 15,000 - 20,000Kc

So if you are thinking of giving over Christmas, This email address is being protected from spambots. You need JavaScript enabled to view it., perhaps we can help.


And Finally:



Thank you again for your support.


James Turnbull, Martin Strnad, and Eva Poláková

 

13 October - Why is Business Succession such a hot topic?

Today we published another article highlighting our involvment with Živnostník roku and Firma roku and focused especially on business succession.

 You can read the full article here.

 

13 August 2015 - Živnostník roku and Firma roku

This year we are very proud to announce that we are partnering with Živnostník roku and Firma roku.

One of the focus points of this year's competition is business succession planing, and together with pwc, we will be contributing to a panel of experts which will assess businesses on their preparedness in this regard.

A survey conducted by ourselves together with Babinet at the beginning of this year tells us that only a quarter of family owned business in CZ have any sort of plan dealing with what happens to the business when the founder is no longer willing, or able, to run it.

Internationally, statistics also tell us that only 30% of family business survive this transition. Put another way, that means that 70% of businesses fail, resulting in enormous damage: The loss of jobs, closure of facilities, family conflict and very often huge destruction of wealth that have been carefully accumulated over many years.

Many (but not all) good business succession strategies involve the use of Svěřenské fondy. We are delighted to be able to contribute our expertise in helping the Czech Republic's top family businesses take the very simple steps they need to ensure that they are properly protected.

We will be participating in the regional rounds of the competition in:

  • Hradec Kralove - 16 September
  • Pardubice - 17 September
  • Usti nad Labem - 24 September
  • Ceske Budejovice -29 September
  • Liberec - 1 October
  • Plzen - 7 October
  • Olomouc - 8 October
  • Brno - 13 October
  • Ostrava - 15 October
  • Prague - 22 October


The other reason for mentioning this is that we will obviously be in the cities above on the dates mentioned. If you would like to meet with us, if you would like us to prepare a presentation for you, your colleagues or your clients, please don't hesitate to contact us.

17 June 2015

Today we published an article entitled 'Magical Squirrel Clouds'

Generally speaking we think that Czech Trust law is excellent.  This is not really surprising when you consider that it it based very closely on the trust law of Quebec, which has worked very well for more than twenty years.

But in today's article, we highlight one area where Quebec and Czech laws differ and which seems to create an opportunity for misuse.

We welcome the proposed changes to the Czech law. Not only will these changes fully address a number of perceived (but probably more theoretical than real) weaknesses in the Czech law, but they will also help help build acceptance of trusts as a legitimate and valuable tool for managing family assets.

However, one area that is not addressed by the proposed changes is the ability to create what we call Magical Squirrel Clouds.

 

To find out what a Squirrel Cloud is, read the article, which can be found here.

As always if you would like to use one of our articles in your client communications etc, please do so. Alternatively, we'd be delighted to prepare something specifically targeted at the needs of your clients. Just contact us.

 

23 April 2015



As you may know, Svěřenské fondy a trusty s.r.o. is a co-founding member of the APRSF - Asociace pro podporu a rozvoj svěřenských fondů, z. s (in English: The Association for the Support and Development of Trusts).  The Association was officially launched on the 23rd of April.

We know that many of you attended the launch function.  For those that did, (and for those that didn't. but are interested), a gallery of photos of the evening can be found here.

The launch was also very successful in generating considerable positive media coverage of the Association and of trusts more generally.  Some of these articles can be accessed via links on the APRSF website

 

19 January 2015

Today we published episode four in our series "Practical uses of Svěřenské fondy"

This month's article focuses on using trusts to protect and manage property and land - whether it's an ancestral castle or a family cottage.

To read the full article, see our website. The article is available in both English and Czech

As always if you would like to use one of our articles in your client communications etc, please do so. Alternatively, we'd be delighted to prepare something specifically targeted at the needs of your clients. Just contact us.

 

 18 January 2015

We have produced a new brochure in Czech highlighting some of the issues around business succession planning.

You can see the brochure online in pdf format, however if you would like to order supplies of the brochure in printed form, just contact us.

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25 November 2014

Today we published the third in our series of articles demonstrating the practical uses of svěřenské fondy. This article looks at the use of  svěřenské fondy for public purposes, and on how they can be used to achieve immortality.  We also pose an interesting historical riddle. Who is this man? 

Find the answer here,

 

22 October 2014

Today we published the second in our series of articles demonstrating the practical uses of svěřenské fondy. This article looks particularly at the problems faced by clients who have children from previous relationships.  In the article we use famous Czech singer, Karel Gott as a case-study example of the practical problems that many Czechs face and the solutions that are now available to them. The article is available here,

 

 

7 October 2014

Today we published an article discussing some of the pitfals of using short form documents to set up Svěřenské fondy.  The article is available here,

 

26 September 2014

Today we published the first of a series of articles demonstrating some of the practical uses of Svěřenské fondy.  The article is available here.

 

23 September 2014

Svěřenské fondy a trusty s.r.o publishes a user-friendly taxation guide for Svěřenské fondy.

 

19 August 2014

Svěřenské fondy a trusty opens a new office on Maiselova and establishes itself as the Czech Republic's first proffesional trust administrator.

 

1 January 2014

The new Czech Civil code takes effect

 

2013 and early 2014

James Turnbull and Barbora Bednaříková run seminars for the legal profession on the new Trust laws.

 

31 July 2012

JUDr Barbora Bednaříková publishes Svěřenské fondy. Institut pro uchování a převody rodinného majetku.

 

13 June 2011

Svěřenské fondy a trusty s.r.o.  is established


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