Trusts to be registered by registration courts

27. 12. 2017

Registration of trusts will start in January 2018. It will break the current anonymity of their founders and beneficiaries.

(CIANEWS, Dec 27) Registration of trusts will start in January 2018. It will break the current anonymity of their founders and beneficiaries. Trusts will no longer have to prove their existence to banks and companies with which they cooperate. The records will be administered by the registration court where the trustee submits the statutory information. The trust statutes and other documents will be filed in the Collection of Instruments. The trust register will have a public and non-public part which will be accessible only to trustees, public authorities and persons proving legal interest. This information is contained in the amendment to the act on certain measures against the legalisation of proceeds of crime published by the Parliament of the Czech Republic.