In the course of our business dealings, we are constantly being reminded about how important it is for foreigners to be properly represented when entering into any investment ventures in the Czech Republic.
For example, an investor has recently contacted us because they were afraid that their current Prague lawyer was not acting in their behalf but rather for their business partner, the developer. Through our investigations we found it to be absolutely true.
The investor had been poorly represented and, as a result, had signed contracts which solely benefited the developer and left their initial investment of 3.8 million CZK (126,000 EURO) unsecured.
Even though we are working hard to salvage the deal, it looks unlikely that they will be able to make any profit from their investment, perhaps even suffering a loss.
To add further insult to injury, the Prague lawyer’s invoices amounted to 300 thousand CZK (10,000 EURO) for his ‘services’ over a period of 4 months.
We are now working in their behalf to secure the initial capital, help them recover their costs and make sure they are properly represented in the remainder of their investment project.
Updated/Aktualizováno: July 22, 2014,
