The term of office of the Board of directors was significantly shortened after January 1, 2014
The term of office of members of the Board in joint stock company was reduced to just one year after January 1, 2014 (§ 439 par. 3 of Business Corporations Act). Unless the articles of association set longer term of office, the duties as member of the Board of Directors become ineffective after one year (and liabilities, that he would accepted when continuing to deal on behalf of the company, are thus invalid).
We offer a complete one-off legal adaptation:
- organizing general meeting with a notarial deed;
- editing the text of articles of association in order to set up the desired length of term of office (e.g. original 5 years as determined by the former Commercial Code)
- inserting the full text of the articles of association in the Collection of the Commercial Register
Price for adaptations of statutes including the transfer to electronic form is CZK 9 900 (+VAT)
Providing statutory persons (the "Nominee Service")
For companies based in the business centre AVANTIA in Prague 2, which take advantage of our accounting service, it is possible to provide people to statutory functions. They have no executive activities; executive director of business appointed by the client has rights to conduct the business upon power of attorney.
The price of nominee services depends primarily on the volume of sales of the company.