Trustees and similar arrangements

When the obligation applies

Trustee of a Czech trust.
Equivalent person in a structurally or functionally similar foreign arrangement.
Separately assess formation and administration services under point h.

Exceptions and important distinctions

Apply the business condition in section 2(3) and its specific exceptions; a private non-business role is not automatically a professional service.
Point h activities carried out as trust activities have the section 2(3)(c) exception to the business condition.
Read the category with section 2(3): the activity must form part of the business, subject to statutory exceptions for non-business legal entities, lawyer partners and the specified trust activity.

From first engagement to retention

Read this workflow with the scope and exceptions for this profession. Evidence of a measure follows its actual performance.

1. Before starting: verify scope

Record the actual service, parties and why it falls within the scope above. Assess exceptions for each measure, rather than applying them to the entire client relationship.

2. While providing the service: apply sector steps

Determine governing law, roles and services.
Map settlors, trustees, beneficiaries and persons controlling the arrangement.
Retain reasons for identifying beneficial owners and monitor changes.

When the service, party or relevant circumstances change, revisit the affected step. This profession’s special regime takes precedence over a generic checklist.

3. Closure: document the outcome under the applicable regime

Trust deed or formation document
People and asset map
Beneficial owner and change evidence

Determine which records to retain and under what legal basis. For a customer of an obliged entity this concerns cooperation, not taking over the provider’s duties.

§ 2 odst. 1 písm. l); souběh písm. h)

Prepare client information in the AML form →

Supervision and legal basis

FAÚ.

§ 2 odst. 1 písm. l); souběh písm. h) ↗