Every client is different and so our fees and charges will vary too depending on the nature and amount of the work involved.
Our first exploratory meeting
If you meet with us to find out if a trust can help you or because you are considering setting up a trust, that meeting is always free of charge and without obligation.
At this meeting, you can expect:
- We will spend some time gaining a clear understanding of your goals and objectives
- You will have the opportunity to ask us questions and of course, decide whether you are happy to work with us
- During the meeting, we will indicate whether we are able to assist you, and what the next steps should be
- If we are unable to assist you, if your situation is already under control, or if it is more appropriate for us to refer you on to a third party for assistance, we will tell you at this meeting
- Any next steps, and anticipated charges will be discussed and agreed at this first meeting
* Note that if you require a meeting with us for other purposes, such as advice on an existing trust, or general consultancy, we will charge an hourly fee as set out below. If you would like to meet us outside of Prague, we will agree on a charge for travelling to you in advance.
Subsequent meetings / Consulting
We charge an hourly fee for subsequent meetings and for work done in preparing documents etc. These fees will always be discussed with you before they are charged and typically range between 1000-2000 CZK per hour depending on the nature and complexity of the work.
Please note that these fees are only charged in the event that you decide not to implement a solution with us. If you do decide to establish a trust or implement another structure using our services, we do not charge a separate fee for this work. Instead, it included in the establishment fee for your structure.
Establishing your Trust
Establishment fees are chargeable once all the relevant documents needed to implement a structure have been prepared. They will always be discussed and agreed with you in advance.
Our normal practice is to take a deposit of 40% of the anticipated establishment fee before starting work. If you decide not to proceed with your structure, then this deposit is applied to the payment of Consulting Fees and the balance, if any, is returned to you.
The establishment fee for a Czech trust includes:
- Completing a fact find document
- Satisfying all legally required anti-money laundering and similar requirements
- Preparing draft documents under legal supervision including:
- Trust Statute
- Trust Contract
- Trust Terms and Conditions as an appendix to the contract
- First minutes of the Trustees
- Presenting the drafts to you and amending and making any needed changes
- Preparation of Executable copies
- Arranging and attending the execution of the documents at the notary’s office – including registration of your trust on the Register of Trusts
- Standard disbursements (photocopying, postage etc)
In addition to our establishment fee you should also expect to pay the notary a fee for preparing the notarial deed, typically in the range 8,000 – 10,000 CZK for each trust.
All documents and other legal services are provided in cooperation with our lawyers, who are members of the Czech Bar Association. Their fees are included in the price for our services.
The work involved in establishing other structures will of course vary depending on the particular structure. The establishment fee will be discussed and agreed with you in advance, and is not set according to a fixed schedule, but depends instead on the complexity of the structure. As a guide:
- We charge based on time and complexity, not based on the value of the business.
- Most relatively standard trusts for private purposes typically cost in the range 50,000 – 60,000 CZK depending on complexity.
- For charitable structures and trusts for disabled children we typically charge a heavily reduced fee. Please contact us for more information.
- Where multiple similar trusts are prepared for a single client, then the additional trusts normally cost 25,000 CZK
- More complex trusts – including family dynasty trusts, business succession solutions, and international trust solutions are more expensive. We can indicate likely fees once we have a clear understanding of your objectives.
Additional Services Associated with Trust Establishment
Transfer of Assets into Your Trust
Each transfer of assets must be done by contract. The contract must be accompanied by a resolution of the trustees accepting the asset and the contract must be filed on the register of trusts. In the case of simple transfers of cash etc, we can provide you with simple template documents.
In the case of transfers of real estate or company shares, we recommend that you use the services of a lawyer. If you do not have your own lawyer, we can recommend experienced lawyers who are able to organise these things for you at a modest cost
As we have mentioned elsewhere, proper administration of your trust is very important. It relieves you of what would otherwise be an annoying administrative burden, helps to protect you from potential legal liability, protects the validity of your trust, and ensures that proper procedures are followed.
In addition, it is a legal requirement to ensure that proper accounts are prepared for your trust and tax returns filed.
Our company does not provide these services, but we are very happy to introduce you to experienced partners who can undertake this work for you for a reasonable fee. This applies whether we set up your trust ourselves, or even if you have an existing trust that you created with the help of someone else.
Contact us for more information and an introduction to our partners.