Legal news

Everyone who buys and sells real estate on a commercial basis must submit to the AML Act by 2 March 2021. In practice, this means in particular that they have to conceive their own AML program. Failure to do so exposes obliged entities to fines in the millions of crowns.

On 10 November 2021, new rules for crowdfunding will come into force. However, these rules will not affect consumer financing (as represented e.g. by the zonky.cz project: people lending to people), but strictly to entrepreneurs and SMEs and loans in amounts of up to EUR 5 million.

On 08.02.2021, Detailed Rules on applying title I of Law no. 17/2014 on measures to regulate the sale of agricultural land located outside built-up areas (‘the Detailed Rules’ or ‘the Rules’)

The implementation of the European Unitary Patent, which, according to the EU Commission, should reduce the costs of inventors for filing a patent by up to EUR 32,000, has been delayed again due to two new constitutional complaints filed with the German Federal Constitutional Court. The court has subsequently asked the German President to wait until the court has decided before signing the act required for the implementation.

The wording of an amendment to the Labour Code surprised the business community as well as lawyers.