Publication at Faculty of Law |
2017
Abstract
The newly enacted amendment to the New Civil Code has revolutionized trust (like) law in the Czech Republic. The introduction of the Records of the Trust Funds changed the establishing and functioning of trust funds, shortly after the implementation of trust funds in 2014.
The most significant change is that inter vivos trust funds are to come into existence only by registration, and also that the appointment of the beneficiary enters into effect by registration only. In this article, the developments of the law are discussed, highlighting the main features of the new regulation, with focus also on foreign trusts.