Fees and costs

The statement contains information on the fees collected and costs charged by the Czech National Bank in relation to the cross-border activities of alternative investment fund (AIF) managers, European Social Entrepreneurship Fund (EuSEF) managers, European Venture Capital Fund (EuVECA) managers and standard fund (UCITS) management companies in accordance with Article 9(1) and Article 10(1) of Regulation (EU) 2019/1156 of the European Parliament and of the Council of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings.

1 Fees and costs related to cross-border management of foreign investment funds in the Czech Republic

The Czech National Bank does not collect fees related to the cross-border management of foreign funds marketed in the Czech Republic.

2 Fees and costs related to cross-border marketing of foreign investment funds in the Czech Republic

2.1 A fee in connection with the acceptance and processing of a notification of cross-border marketing in the Czech Republic and in connection with entry on the list of foreign investment funds maintained by the Czech National Bank

  1. Relevant legal regulations:
  2. Description of fee structure
    Foreign investment funds in notification regime
    Fees in connection with the acceptance/processing of notifications in accordance with Art. 32 of the AIFMD[1] and in accordance with Art. 93 of the UCITS Directive[2] and in connection with the entry of notified foreign AIF and UCITS funds in the list of foreign investment funds investments in which can be marketed in the Czech Republic are not collected by the Czech National Bank[3].

    Fees for the acceptance/processing of notifications in accordance with Art. 16 of the EuVECA Regulation and Art. 17 of the EuSEF Regulation and for the entry of notified foreign EuVECA and EuSEF funds in the list of foreign investment funds investments in which can be marketed in the Czech Republic are not collected by the Czech National Bank.

    Foreign investment funds outside notification regime
    The Czech National Bank collects a fee of CZK 10,000 for each one fund or subfund for the acceptance of a request for entry of a foreign AIF or its subfund in the list in accordance with Article 597 of the AMCIF outside the notification regime in accordance with Art. 32 of the AIFMD/Art. 93 of the UCITS Directive.
  3. Information on payment and payment details
    For the payment of a fee it is necessary to wait for a call from the Czech National Bank for its payment in which the Czech National Bank states to the applicant its account number and the relevant variable symbol. The applicant, usually the manager of the foreign alternative investment fund being assessed, is responsible for paying this fee.

    A fee can be paid by wire transfer to an account of the Czech National Bank or in cash at a Czech National Bank branch. Information about Czech National Bank branches, including business hours, is available at the Czech National Bank website. A cash payment of a fee should be made in Czech koruna. A fee cannot be paid using revenue stamps.

    In the case of domestic cashless payments, the following payment details are used:
    Czech National Bank account number:    78-69193891/0710
    Variable symbol: (will be communicated by the Czech National Bank in a call for payment of fee)

    In the case of cashless payments from abroad, the fee is paid in the Czech currency, where it is necessary to use a payment instruction in international format.

    Czech National Bank account number in international format:
    Beneficiary: CZECH NATIONAL BANK
    IBAN:           CZ72 0710 0000 7800 6919 3891
    BIC CODE: CNBACZPP

    So that a fee paid from abroad is credited to the Czech National Bank account in the correct amount, when inputting the payment order the payer must select “OUR” in the billing details, i.e. SHA/OUR/BEN.

2.2 Fee for Renewal of Entry of Foreign Investment Fund in List Maintained by Czech National Bank (does not apply to EuVECA and EuSEF funds)

  1. Relevant legal regulations:
  2. Description of fee structure
    Fee for the renewal of an entry of a foreign investment fund in the list in accordance with Article 597 of the AMCIF totalling CZK 10,000 for each fund or subfund.

    The entry of a foreign investment fund in the list maintained by the Czech National Bank pursuant to Article 597 of the AMCIF lasts until the end of the calendar year following the calendar year in which the entry was made. The entry of a foreign investment fund in the list maintained by the Czech National Bank pursuant to Article 597 of the AMCIF is always renewed for another 12 months upon the payment of the fee. The fee for renewal of a foreign investment fund’s entry in the list in accordance with Article 597 of the AMCIF is always payable no later than 30 days before the day the entry’s validity ends.[4] This fee concerns all foreign investment funds (with the exception of EuSEF and EuVECA) that are entered in the list maintained by the Czech National Bank in accordance with Article 597 of the AMCIF in the relevant calendar year.

  3. Information on payment and payment details
    A fee is paid only in the period from 1 January to 2 December of the relevant year. The applicant, usually the manager of the foreign alternative investment fund, is responsible for paying this fee. At the start of the period for extension it will be notified of the information concerning the payment of the administrative fee (by e-mail or letter).

    A fee can be paid by wire transfer to an account of the Czech National Bank or in cash at a Czech National Bank branch. Information about Czech National Bank branches, including business hours, is available at the Czech National Bank website. A cash payment of a fee should be made in Czech koruna. A fee cannot be paid using revenue stamps.

    In the case of domestic cashless payments, the following payment details are used:
    Czech National Bank account number:    342-69193891/0710
    Variable symbol: KIČ (10-digit identification number stated in the list of foreign investment funds maintained by the Czech National Bank in accordance with Article 597 of the AMCIF, available at the Czech National Bank’s website)
    Information for beneficiary: Fund name and manager’s name

    In the case of cashless payments from abroad, the fee is paid in the Czech currency, where it is necessary to use a payment instruction in international format.

    Czech National Bank account number in international format:
    Beneficiary: CZECH NATIONAL BANK
    IBAN:           CZ97 0710 0003 4200 6919 3891
    BIC CODE: CNBACZPP
    REMITTANCE INFORMATION/PAYMENT COMMENT:  /VS/KIČ, FUND NAME AND MANAGER’S NAME (KIČ = 10-digit identification number stated in the list of foreign investment funds maintained in accordance with Article 597 of the AMCIF, available at the Czech National Bank’s website)

    Example: For a fund with the KIČ 9876543210 the information will state: /VS/9876543210, fund name and manager’s name

    The statement of the KIČ in the information is absolutely crucial. If the KIČ is not stated a payment cannot be identified and an entry cannot be renewed. The Czech National Bank would also welcome information sent by a payer about the payment of a fee for the renewal of a foreign investment fund’s entry (with the statement of the KIČ, fund name and manager’s name) to the address registr-PZ@cnb.cz for the purpose of simpler communication with the fee payer.

    So that a fee paid from abroad is credited to the Czech National Bank account in the correct amount, when inputting the payment order the payer must select “OUR” in the billing details, i.e. SHA/OUR/BEN.

2.3 Fee for accepting application for assessment of comparability of foreign fund with special fund

  1. Relevant legal regulations:
  2. Description of fee structure:
    In the event of the marketing of investments in a foreign alternative investment fund (AIF) to the public (retail) the Czech National Bank collects an administrative fee totalling CZK 5,000 for the acceptance of an application for an assessment of comparability of a foreign investment fund with a special fund.

    The fee for accepting an application for an assessment of the comparability of a foreign fund with a special fund is a lump sum, totalling CZK 5,000 for each fund or subfund assessed.

  3. Information on payment of fee and payment details
    For the payment of a fee it is necessary to wait for a call from the Czech National Bank for its payment in which the Czech National Bank states to the applicant its account number and the relevant variable symbol. The applicant, usually the manager of the foreign alternative investment fund being assessed, is responsible for paying this fee.

    A fee can be paid by wire transfer to an account of the Czech National Bank or in cash at a Czech National Bank branch. Information about Czech National Bank branches, including business hours, is available at the Czech National Bank website. A cash payment of a fee should be made in Czech koruna. A fee cannot be paid using revenue stamps.

    In the case of domestic cashless payments, the following payment details are used:
    Czech National Bank account number:    78-69193891/0710
    Variable symbol: (will be communicated by the Czech National Bank in a call for payment of fee)

    In the case of cashless payments from abroad, the fee is paid in the Czech currency, where it is necessary to use a payment instruction in international format.

    Czech National Bank account number in international format:
    Beneficiary: CZECH NATIONAL BANK
    IBAN:           CZ72 0710 0000 7800 6919 3891
    BIC CODE: CNBACZPP

    So that a fee paid from abroad is credited to the Czech National Bank account in the correct amount, when inputting the payment order the payer must select “OUR” in the billing details, i.e. SHA/OUR/BEN.

[1] Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers (AIFMD)

[2] Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS Directive)

[3] Advice: The Czech National Bank announces that from 1 December 2022 there is a change to the concept for collecting fees. If a fee was paid in the past, its return can be requested in accordance with Article 7 of Act No. 634/2004 Coll., on administrative fees, as amended. A person/entity that paid a fee can request its return.

[4] The entry of a foreign investment fund in the list maintained by the Czech National Bank in accordance with Article 597 of Act No. 240/2013 Coll., as amended by Act No. 336/2014 Coll., that was entered in the list before the effective date of the act lasts until 31 December 2023.