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The ultimate beneficial owner is any person who effectively controls or controls a legal person, a natural person - entrepreneur or an association of assets (collectively, as "entities" or "entity") and any natural person for the benefit of which these entities carry on their activity or business. An ultimate beneficial owner within the meaning of the legal definition is any natural person who manages the entity or the activity of the entity is performed for its benefit. The company is obliged to keep records of its ultimate beneficial owner necessary for its correct identification for third parties.

The information on the ultimate beneficial owner must be updated with each change and records of its identification must be kept for another 5 years after the end of the status of ultimate beneficial owner of a particular natural person. The purpose is for everyone to be able to identify who is the ultimate beneficial owner in a particular company, without relying solely on the data in the available registers.

The ultimate beneficial owner (hereinafter referred to as "UBO") is in the Slovak Republic defined in § 6a of Act no. 297/2008 Coll. on Protection against Money Laundering and Terrorist Financing and on Amendments to Certain Acts, as amended (hereinafter referred to as the “AML Act”). The AML Act defines UBO differently for a legal entity, a natural person entrepreneur and an association of property. UBO is thus any natural person who actually controls or controls a legal person, a natural person - entrepreneur or an association of property, and any natural person for whose benefit these entities carry out their activity or business.

In a legal entity, UBO is the natural person who:

  • has a direct or indirect share or a sum of at least 25% in the voting rights in the legal person or in its registered capital, including bearer shares,
  • has the right to appoint, otherwise appoint or remove a statutory body, a management body, a supervisory body or a supervisory body in a legal person or any of its members,
  • controls a legal person in a manner other than that referred to in the first and second points,
  • has the right to an economic benefit of at least 25% of the legal person's business or other activity;

In the case of an association of property, UBO is the natural person who:

  • is the founder or founder of an association of property; if the founder or founder is a legal entity, UBO is a natural person as defined in the provisions on the legal entity,
  • has the right to appoint, otherwise appoint or dismiss the statutory body, management body, supervisory body or supervisory body of the property association or their member or is a member of the body which has the right to appoint, otherwise appoint or dismiss these bodies or their member,
  • is a statutory body, a managing body, a supervisory body, a supervisory body or a member of these bodies,
  • is the recipient of at least 25% of the funds provided by the pool of assets, if future recipients of those funds have been identified; if the future recipients of the assets of the association of assets have not been determined, the UBO is considered to be the circle of persons who have a significant benefit from the establishment or operation of the association of assets.

If it is not possible to identify UBO person according to the above criteria, members of the top management will be considered as one. A member of the top management is considered to be a statutory body, a member of the statutory body, a procurator and a senior employee in the direct management of the statutory body. UBO is also a natural person who does not meet the above criteria, but together with another person acting in accordance with it or by a joint procedure meets at least some of the above criteria. Data in the range of name, surname, birth number and, if no date of birth, address of permanent residence or other residence, nationality and type and number of the UBO identity document have not been assigned to the registers. Data on the basis of which this natural person has the status of UBO in a legal entity are also mandatory. By law, liable persons must provide co-operation to the authorities if, according to a special law, the register does not contain data on UBO or in case of doubts about the veracity or completeness of the data entered in the register.

Law firm Hronček & Partners provides its clients with comprehensive legal services in the area of ​​identification and registration of UBO in the commercial or other relevant register. In addition to the identification of UBO, we prepare for our clients a Protocol on the identification of the end user of benefits in accordance with the provisions of the AML Act on record keeping for these purposes. We also provide clients with instructions on how to keep records. Leave this legal obligation to us and you will avoid the lengthy process of identifying the UBO and the administration associated with it. By leaving your duty to the law firm, you will have the correct identification of the UBO and thus avoid the risk of a fine being imposed by the competent authorities. Contact us about preparing a non-binding price offer.

Hronček & Partners, law firm is also actively developing an initiative in the field of crowdfunding regulation. In the context of Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European providers of collective finance services for business and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, available on the link), which will enter into force on 10.10.2021, laying down uniform requirements for the provision of mass financing services, for the organization of mass financing service providers, for the authorization and supervision of such providers, for the operation of mass financing platforms, as well as for transparency and marketing communication, our law firm is ready to provide you a complete legal service on obtaining a license to perform crowdfunding services.
 

Startup is nowadays a modern form of business that is very popular. However, the establishment of a company and the start-up of a business is a process that is demands and requires comprehensive knowledge, including in the field of law. In the case of startup projects, we provide a complete legal service, from the establishment of the company and throughout its existence. Our law firm cooperates with a number of companies operating in various areas of the market, which can provide you with potential business partners or the entry of investors into your project. If you decide to use our services, we will provide you with:

  • establishment of a business company - turnkey preparation of your company - from the correct setting of corporate documents, handling formal matters to registration in the Commercial Register of the Slovak Republic,
  • comprehensive advice on contract law in commercial relations from pre-contractual negotiations, through commenting on contracts to asserting claims from contracts,
  • trademark registration as well as ensuring the protection of other intellectual property rights,
  • protection of personal data and application of the GDPR regulation,
  • advice on tax and financial law,
  • legal advice on business negotiations.

Within our law office, we provide a comprehensive legal service for operators of online stores (e-shops). The basis for your e-shop is the correct elaboration of the General Terms and Conditions (GTC), which we prepare exclusively for the client according to his requirements. Another necessity is the processing of the complaint procedure and the setting of contracts. In this area we will provide you with:

  • preparation of General Terms and Conditions (GTC),
  • preparation of complaint procedure,
  • complete contractual documentation in relation to consumers but also suppliers, carriers and other entities,
  • protection of personal data,
  • representation before administrative authorities as well as representation in possible litigation,
  • ensuring protection of intellectual property rights, namely the registration of trademarks, designs, etc.
  • consulting in the field of tax and financial law,
  • elaboration of transfer documentation.

Close cooperation with the company Top privacy sro specializing in personal data protection is a guarantee of first-class legal services also with regard to the GDPR Regulation and related obligations.

As part of solving tax issues, our law firm has been cooperating closely for many years with erudite professionals in the field, through whom we can provide you with top-level tax advice, including the assessment and preparation of transfer documentation. Professional legal services in conjunction with professional tax advice confirm the complexity of our services. Open approach and collective work of several professionals in individual projects is a great advantage for the client.

In connection with transfer pricing and elaboration of transfer documentation we provide for you:

  • elaboration of abbreviated documentation,
  • elaboration of basic documentation,
  • elaboration of complete documentation (including comparability analysis),
  • separate elaboration of comparability analysis.

 

Another of the many areas in which we provide our legal services is the area of ​​insurance law, within which we work closely with top experts and specialists in insurance from the portal www.poistenie.sk. A team of experts from our law firm, many years of rich experience and cooperation with a contracted portal is a guarantee of providing first-class legal services and professional advice in this field. Within insurance law, we offer a comprehensive service that includes communication with insurance companies, preparation of legal submissions, assessment of your claims, representation in court proceedings and much more. In the field of insurance law, we focus mainly on: ​

· any recovery and subsequent enforcement of claims contracts, both out of court and in court, including legal representation throughout the proceedings until the final conclusion of the dispute,

· professional legal assessment of your claims with respect to the contractual documentation and subsequent assessment of your claims against the insurance company, preparation of legal opinions to take into account your claims and recommending further claims, preparation of any submissions addressed to insurance companies, communication with insurance companies, legal assessment of your current insurance contracts,

· verification of the correctness of insurance companies in the settlement of claims, filing objections and other remedies against incorrect,

· provision of legal assistance and advice in the application of recourse claims by insurance companies.

During several years of operation in the field of insurance law, we were able to reverse many insurance claims that insurance companies settled and with legal assistance we ensured our clients success in asserting their claims. We have also been successful in litigation as well as in resolving disputes out of court.

  • preparation of agreements on transfers of business company ownership interests (transfer of shares, ownership interests, etc.).
  • preparing and selling businesses or their parts
  • legal advice and legal steps in the merger, fusion or division of companies, including cross-border mergers
  • analysis and resolution of labour-, employment- and trade-related aspects of mergers and acquisitions
  • legal assistance to creditors and debtors in bankruptcy or restructuring proceedings
  • representing entities in bankruptcy and restructuring proceedings in relation to courts, liquidators, and creditors
  • representing creditors in the exercise of rights and claims in bankruptcy and restructuring proceedings against the bankrupt and before the court
  • registering claims, representation at meetings of creditors and creditors' committees
  • preparing documentation in bankruptcy and restructuring proceedings (eg bankruptcy petition, restructuring petition, etc.), bailout and other proceedings
  • preparing opinions in bankruptcy and restructuring law
  • analysing the potential consequences and effects of bankruptcy
  • analysing the legal conditions for the initiation of bankruptcy proceedings, drafting the bankruptcy petition
  • ensuring the preparation of restructuring assessments through cooperating restructuring managers
  • judicial recovery of monetary claims
  • at the client's request we ensure the monitoring of bankruptcy and restructuring proceedings through online applications
  • representation in proceedings on bills of exchange
  • representation before arbitration tribunals and authorities
  • representation before the courts in the Czech Republic as cross-border lawyer
  • all-in-one management and recovery of claims in pre-trial stage, in judicial proceedings, in enforcement proceedings, bankruptcy and restructuring proceedings, inheritance proceedings, criminal proceedings and in liquidation of legal entities
  • legal analyses in the field of raising and recovery of claims 
  • drawing up legal transactions relating to claims
  • legal advice on the application of the law through the European order for payment
  • legal advice on sports law, particularly football and ice hockey

  • elaborating legal solutions and contract documentation in software law and the rights associated with domain names
  • legal advice and developing legal solutions in the field of electronic communications and personal data protection
  • comprehensive consultancy on internet law
  • legal advice for operators of portals, online applications and e-shops
  • establishment of non-profit organisations (civic associations, foundations, non-profit organisations providing generally beneficial services)
  • a full range of legal services connected with the activities of non-profit organisations, contract documentation, and tax issues
  • defence counsel in criminal proceedings 
  • filing complaints against resolutions of law enforcement authorities and drawing up other necessary written acts in criminal proceedings
  • petition for expungement of conviction
  • filing a criminal complaint
  • representing the injured party in criminal proceedings
  • claiming compensation for damage (in ancillary proceedings)
  • legal advice and consultancy
  • defence counsel in criminal proceedings
  • representation in proceedings before regulatory bodies, particularly in the procedures for granting authorisation or licence to conduct activities in the energy sector
  • legal analyses and drawing up opinions relating to matters of price regulation and activities of the Regulatory Office for Network Industries
  • legal analyses of the rules in the energy sector and preparing opinions with regard to client's requirements
  • advice on prevention of legalisation of proceeds from crime and financing of terrorism
  • supplying the Activity Programme against legalisation of proceeds from crime and financing of terrorism