What are the requirements for the applicant, directors, beneficiaries
In order to obtain an exchange license in the Czech Republic, the following persons must be assessed for their trustworthiness and integrity:
- complainant,
- managers (supervisors),
- beneficial owner.
1) bona fides are confirmed by a certificate of a criminal record for each of the above-listed persons (from the country of which the person is a citizen and from the country where the person has resided for more than 6 months in the last 3 years),
2) the trustworthiness of persons is confirmed by information on the person’s professional and business reputation over the last 10 years and concerns, inter alia:
a. a final decision imposing a penalty for an administrative offence or a comparable foreign decision related to the performance of a person’s work, function or business activity;
b. a final decision on bankruptcy or the rejection of an insolvency petition due to a lack of assets of such a person;
c. decisions to suspend or revoke a permit (license) to conduct business or other activities, except where such revocation occurs at the request of the permit (license holder himself/herself);
d. refusing to obtain the consent of a court or administrative authority for the election or appointment to office, or for the acquisition of a qualified shareholding or control over a person, where such consent is required; and
e. a decision to expel a person from a professional association, chamber or association.
3. In addition, proof of education and qualifications of the applicant’s manager, who actually manages the exchange office, must be provided.
All documents must be submitted to the supervisory authority in Czech.
