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.
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.
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 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 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
- Registration of the trust with the tax authorities
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.
The work involved in establishing other structures will of course vary depending on the particular structure – but will be discussed with you in advance.
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.
- For charitable structures and trusts for disabled children we typically charge a heavily reduced fee – as low as 20,000 CZK.
- Most relatively standard trusts for private purposes typically cost in the range 40,000 – 50,000 CZK depending on complexity.
- 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.
Administration Packages and Fees
If you ask us to act as the Administrator of your trust, we can offer you one of three different administration packages
- Package 1: Trust Administration only: 6,000 CZK per annum
- Package 2: Trust Administration plus Basic Accounting and Tax: 12,500 CZK per annum
- Package 3: Trust Administration plus Complex Accounting and Tax: from 15,000 CZK per annum
Package 1: Trust Administration
- Maintaining the trust file
- Maintaining the trust minute book
- Maintaining schedules of settlements and distributions
- Advice and guidance for trustees as required (up to five hours per year)
- Preparation of Trustee’s resolutions (up to five per year)
- Preparation of ‘Contracts of Addition’ (up to three per year)
- A quarterly ‘health check’ for the trust. This provides a regular check that your actions, and the status of the trust and its investments remain legally compliant
Package 1 does not include preparation of accounts or tax returns for the trust
We can also provide Trust Administration for trusts that were not established by us, but these are priced individually, normally including an acceptance fee to cover the cost of reviewing the trust documentation.
Package 2: Trust Administration plus Basic Accounting and Tax
All the items in Package 1 PLUS accounting and tax.
Note that Package 2 is designed for the majority of family trusts but is not designed for trusts with larger numbers of assets or higher transaction levels.
Once we understand your trust and its assets, we will be able to tell you if it is eligible for package 2.
Package 3: Trust Administration plus Complex Accounting and Tax
This includes all the items in Package 1 PLUS accounting and tax charged on a time and complexity basis. This package is designed for trusts with larger assets or higher transaction volumes.