Czechia and Slovakia to transpose EU Directives making employment under agreements easier and introducing paternity leave

At its October session, the Slovak parliament approved amendments to the Labour Code to transpose provisions from European Union directives into the Slovak law. One directive relates to transparent, predictable working conditions and the other to work-life balance for parents. Czech lawmakers are preparing draft legislation to transpose this Directive into law. This CMS’s publication … Continued

Private Rented Sector: a new asset class in CEE

A report by international law firm CMS and commercial real estate services and investment firm CBRE, shows that investors continue to shift their attention away from office investment in favour of other real estate sectors. In the CEE, economic growth and loose economic policies have led to a housing price boom and made access to … Continued

A&O assists UniCredit Bank Czech Republic and Slovakia with benchmark issuance of mortgage covered bonds

Allen & Overy has advised UniCredit Bank Czech Republic and Slovakia on the update of its international mortgage covered bond programme and the benchmark issuance of EUR500 million mortgage covered bonds on the international capital markets. UniCredit Bank Czech Republic and Slovakia is the first Czech bank to adapt its international mortgage covered bond programme … Continued

Czech Republic amends Act on Ultimate Beneficial Owners

On 1 October 2022, the amendment to the UBO Act came into effect in the Czech Republic, which places obligations on Czech companies regarding their UBOs and specifies penalties for companies, which fail to comply with these obligations. Under the amended UBO Act, the UBO of a Czech company is now any individual who ultimately … Continued