Delivering comprehensive solutions in the field of trust funds

We offer comprehensive services in the area of trust funds, including the establishment, supervision and administration of your trust fund. We provide our services not only in Prague, but also throughout the Czech Republic or abroad if the client is interested.

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CCS PREMIUM TRUST a.s.

CCS PREMIUM TRUST a.s. offers its clients comprehensive services in the area of the trust funds, including the possibility of securing legal and tax consulting in the subject area, consisting in the establishment, supervision or administration of "your" trust fund. The trust fund, also known abroad as a trust, enables efficient management of family or business assets. The institution of the trust fund or similar entities is a traditional part of foreign codes (e.g. the Swiss Confederation, the Principality of Liechtenstein, Canada), from which the Czech legislator took inspiration when introducing the institution of the trust fund into the Civil Code in 2014.

The trust fund brings a number of new options to clients, and in particular represents a revolutionary shift in assets management. However, the change also raises a number of questions that are crucial for those interested in setting up the trust fund. The answer to these questions should be sought in foreign legal regulations, which have a long experience in the issue of assets management, trust funds, foundations, trusts and trust-like entities. In providing its services in the area of trust funds, CCS PREMIUM TRUST a.s. draws primarily on its international experience.

Why establish a trust fund?

How to set up a trust fund?

Trust funds and trusts

Czech legal system
allows significant flexibility

The founder can fully fulfil his intentions with the earmarked assets, while it is the founder who determines, within the limits of the law, the extent of his influence on the manner of dealing with the earmarked assets and the conditions for the trustee’s activities.

Securing the future of your wealth

The trust fund is a business, investment and hedging instrument that offers a range of options, including preserving the founder’s family assets. First and foremost, it is an elegant legal instrument for separating assets from the ownership of the trust fund´s founder, which thereby become autonomous assets managed to achieve a stated (private or public beneficial) purpose. In this way, it is possible to ensure the persistence of the assets for the future, its protection, the provision of effective professional administration by the trustee and the prevention of family disputes.

Safe passage of family assets from generation to generation

The potential of the trust fund has many dimensions. The trust fund provides effective protection to the founder from unauthorised creditors and from a chicanerous insolvency requests. It is also the most flexible instrument through which intergenerational transfer of family assets can be achieved. The trust fund thus enables the founder to set the terms of disposal of the assets he has collected during his lifetime and thus preserve their safe management for the future.

Basic types
of trust funds

Commercial

The principle of a business trust fund is to make a profit through business activities carried out mainly by companies placed into the trust and appreciation of the assets under management. In addition to business activities, the purpose of the business trust is often investment activities, usually based on the principle of spreading investment risks. A professional trustee or collective body composed by professional trustees plays essential role in a commercial trust.

Hedge

A hedge fund is set up to secure a debt or as a means of settling it. The special feature of this trust fund is its accessory nature, as the trust fund lasts only for the duration of the debt. This type of the trust fund is often used in corporate restructurings.

Investment

An investment trust fund is a special type of the trust fund that has a number of specific features that distinguish it from previously mentioned types of the trust funds. The founder of the investment trust fund can only be a person with the status of a qualified investor and the trustee must have a licence granted by the Czech National Bank. The purpose of the investment trust fund is to invest for the benefit of the ultimate beneficiaries on the basis of a defined investment strategy, which is generally based on the principle of spreading investment risks.

Family
(intergenerational assets collateral)

The main purpose of a family trust fund is to preserve assets for future generations of family members. The trust fund allows greater control and purpose-built determination of the assets and benefits from thereof. This type of trust fund allows the founder’s will to be reflected in the disposition of family assets after his or her death. Compared to a testament or an inheritance contract, the trust fund is very flexible and is able to ensure the preservation of the assets as a whole, taking into account the wishes of the ultimate beneficiaries and the wishes of the founder.

Trust funds consultancy tailored to your needs

1.

Acquaintance with the client's intentions, ideas and needs, possibly also with the setup of their business structure

2.

Designing the structure of the trust fund or other matching entity according to the client's intent, needs and requirements

3.

Preparation of founding documents

4.

Establishment and creation of the trust fund, trust or other appropriate structure

The process of setting up the trust fund is simple

The process of setting up the trust fund is not complicated and can be combined into a single point in time. The founder first allocates the assets that will become the assets of the trust fund and then enters into a contract with the trustee, by which the trustee takes over the management of the allocated assets. The whole process is completed by the founder issuing the trust fund statute and subsequent registration into a trust fund register.

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The key to success
is precise preparation

Despite the simple and relatively informal process of the establishment of the trust fund, this process is crucial. Almost anyone can set up the trust fund, but if you choose the wrong intermediary and set the wrong management conditions, your intention may not be properly reflected. It can also be added that setting up the trust fund to meet your requirements and ideas, which should fully correspond to your intention, on the basis of a pre-prepared template is very risky and in practice completely non-functional. It is not uncommon to encounter requests from clients to rescue and reconfigure a flawed trust fund. The process of preparing the trust fund structure takes time and a personal approach. Therefore, it is the preparation phase that requires the utmost attention, which will subsequently determine how the assets in the trust fund will be handled (even for the next 100 years).

With us, you can be sure that we will prepare everything exactly for you according to your requirements and ideas. We will offer you a number of alternatives so that the trust fund is as close as possible to your intentions. We ensure complete administration and supervision of compliance with the legal and tax regime. At the end of the process, you will have “your own” trust fund in which "your" assets will be under control, secured and consolidated.

Close cooperation
with law firms

Thanks to our cooperation with the law firm CÍSAŘ, ČEŠKA, SMUTNÝ s.r.o. and a partner law firm from the Principality of Liechtenstein, which has long been involved in asset management issues across Europe, we are able to guarantee the preparation of the necessary documentation for the purpose of establishing the trust fund or other (even foreign) entity that will ensure the fulfilment of your requirements, taking into account foreign practice and cross-border operation.

What do we offer?

Incorporation services

In connection with the establishment of the trust fund, we are able to provide you not only with the preparation of founding documents, but also with a comprehensive legal service, which includes, in particular, the preparation of contracts for the transfer of assets, negotiations with administrative authorities, notaries and other institutions.

Tax consultancy

The decision to set up the trust fund involves a number of tax issues that need to be assessed and the most optimal set-up chosen, taking into account the founder’s intention and the assets to be contributed. We will therefore arrange for a comprehensive tax analysis to be carried out when setting up the trust fund so that you can make an informed decision.

Asset management

When establishing the trust fund, it is necessary not only to legally dispose with the earmarked assets but to actually manage it and put it in the trust fund. We are also able to arrange or mediate this related activity.

Accounting consultancy

Once the trust fund is established, it is necessary to ensure registration for taxes and prepare the initial accounting documents. We can also provide this service for you so that the trust fund starts to function properly.

Professional supervision

In order to ensure the proper administration of the assets placed into the trust fund, it is necessary to ensure professional supervision of the functioning of the trust fund through a so-called professional protector. In this context, the professional protector serves not only as a check on the trustee and his actions, but also as an advisory body to the trustee, if the founding documents are set up appropriately.

Beyond this, it is necessary to ensure continuous monitoring of Czech legal practice influenced by evolving case law. After the establishment of the trust fund, we are able to continue to monitor the development of the legal regulation and, if necessary, recommend appropriate measures to ensure that everything works according to the original intention of the founder.

References

CÍSAŘ, ČEŠKA, SMUTNÝ s.r.o.

Comprehensive legal background is provided to our company by CÍSAŘ, ČEŠKA, SMUTNÝ s. r. o., law firm. With a team of almost 100 lawyers, it is one of the largest Czech law firms. Within its specialization, the firm emphasizes mainly commercial, civil and public investment law. It provides services not only in Czech but also in the main world languages. It is a stable and independent law firm that is one of the important players in Czech law, business and society as a whole.

www.akccs.cz

Paragraph 7

Our partners from the Liechtenstein law firm Anwaltskanzlei Bruckschweiger, Gstoehl, König, Mumelter, Rebholz, Wolff, Zechberger (Paragraph 7) are recognised experts in the specifics of Liechtenstein foundations, trusts and other such entities. Thanks to their many years of experience in representing beneficiaries, heirs, founders and trustees, they know the legal regulation of trusts and foundations not only theoretically but also practically, which makes them valuable advisors for us when advising on the trust funds.

MMag. Benedikt König, LL.M.
Mag. iur. Florian Zechberger

www.paragraph7.com

Swiss Life Select

Experts from the Swiss life financial group are active in the fields of private finance, wealth management, risk management and pension reinsurance. All services provided by Swiss life experts are the result of a long-standing global practice that brings CCS PREMIUM TRUST clients exceptional added value in managing their finances..

www.swisslifeselect.cz