Czech Republic to impose hefty fines over beneficial ownership register

Mark Battersby
clock • 2 min read

The Czech Republic has introduced fines of up to CZK 500,000 ($24,000) and extended the definition of beneficial ownership to include those who have 'final influence' as part of a package of measures in a completely new law for the registration of beneficial owners which goes live on 1 June 2021. The law includes direct sanctions, the inability to vote at the general meeting or a ban on the payment of profits, according to a briefing note by law firm Eversheds Sutherland. "There are several changes compared to the current law, including the definition of the beneficial owner itself, ...

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