Major Czech legal changes call for 'urgent action'

A new civil law code in the Czech Repubic which comes into effect next year will have a major impact on business life and requires 'urgent action' from investors, according to lawyers in the jurisdiction.

12 April 2013

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In a statement, international law firm Taylor Wessing said that although the legislative changes will not come into force until 1 January 2014, the changes will apply to already existing legal relationships
Taylor Wessing partner Erwin Hanslik commented: ‘There is an urgent need for action for investors doing business in the Czech Republic.’
According to the press release, changes include new terminology, a new legal structure and several new regulations that will affect many areas of the economy.