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Czech Republic is preparing a new incentive scheme for the video games industry
The Czech Republic will soon join a group of European countries that offer incentives to the video games industry. The video games industry has been one of the fastest growing sectors in the Czech Republic in recent years, and enjoys an excellent reputation worldwide – despite the lack of any kind of state support. However, this will likely soon change with the adoption of an amendment to the Czech Act on Audiovision (the “Amendment”). Some of the most significant new changes introduced by the Amendment are the transformation of the current Czech Film Fund into the Czech Audiovisual Fund (the “Fund”) and the extension of the state incentive system to include the video games industry. According to the Amendment
Kinstellar advises Genesis Capital on the acquisition of recruitment agency Předvýběr.CZ
Kinstellar’s Prague office has successfully advised Genesis Growth Equity Fund I, part of the established private equity group Genesis Capital, on the acquisition of a majority stake in Předvýběr.CZ. Genesis Growth Equity Fund I (GGEF I), a private equity fund focused on growth investments in small and medium-sized enterprises operating mainly in the Czech Republic and Slovakia, partnered with the founding owners, František Boudný and Vladimír Kočí, who will retain a significant minority share and remain actively involved in the company's management. Předvýběr.CZ, founded in 2008 and based in Prague, specialises in the time-consuming aspects of candidate recruitment for mid-level and lower-level positions.
Kinstellar advises on the green loan financing for CPI Property Group in the Czech Republic
Kinstellar has successfully advised ČSOB on the financing of a portfolio of rooftop solar power plants for CPI Property Group in the Czech Republic through a green loan. The transition to an ecological, low-carbon economy is an essential step for our continued operations. Green financing drives changes towards a sustainable future by supporting projects, initiatives, and technologies that positively impact the environment. The current construction of the solar power plants portfolio is one such example in which Kinstellar has played a key advisory role for the ČSOB group. CPI Property Group is a leading European real estate owner with over thirty years of history. In the Czech Republic, it is the largest owner of
Kinstellar announces New Office Managing Partners in Bratislava and Prague, Adam Hodoň appointed as COO
Kinstellar is delighted to announce the appointment of new managing partners for our Bratislava and Prague offices, and of a new Chief Operating Officer (COO) effective 1 July 2024. Viliam Myšička is the new Managing Partner of the Bratislava Office, succeeding Adam Hodoň. Adam has been appointed as the Firm’s COO. Viliam has been with Kinstellar since its inception and was previously with Linklaters. He leads the M&A service line in Slovakia and serves as the head of the firm-wide Restructuring & Insolvency service line, as well as the co-head of the firm-wide Technology, Media & Telecommunications (TMT) sector. Viliam brings nearly 20 years of professional experience, advising clients across a wide range
Kinstellar has successfully advised Edwards Lifesciences in the area of data protection
Kinstellar has recently provided expert legal advice to Edwards Lifesciences, a global leader in medical innovations for heart disease, as well as critical care and surgical monitoring, through a secondment arrangement, focusing on data protection. This collaboration ensured that Edwards Lifesciences navigated complex data protection regulations effectively, safeguarding their business interests and maintaining compliance with applicable laws. The expert legal advice was provided by Simona Semanová, with further support from our Kinstellar team in Prague led by Tomáš Čihula and Petr Bratský.
Czech Republic opens up labour market to nine countries
The Government of the Czech Republic has introduced new regulations opening up the country’s labour market to citizens of nine countries. The measures, effective from 1 July 2024, are intended as a step towards a more open and flexible labour market in the Czech Republic. Specifically, citizens of Australia, Japan, Canada, South Korea, New Zealand, Singapore, the UK, US and Israel will no longer require a work permit, employee card, intra-company transfer card or blue card to work in the Czech Republic as of 1 July 2024. The changes abolish an existing requirement for job-seekers to supply details of employment contracts, evidence of professional qualifications or education, a transfer letter and documents evidencing the
Navigating the Regulatory Landscape: An Overview of Banking as a Service
In an era defined by digital transformation and the ever-evolving landscape of financial services, the concept of banking as a service (“BaaS”) has emerged as a key force reshaping the industry. By enabling non-bank entities to offer financial services through partnerships with licensed banks or financial institutions, BaaS has opened up a new realm of possibilities, facilitating innovation, enhancing customer experience and promoting financial inclusion. However, realising these opportunities is closely linked to navigating the complex regulatory framework that governs BaaS operations. BaaS can take various forms, allowing non-licensed entities to provide financial products such as banking, payment, e-money
Update on the ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
CSRD implementation uneven a month before deadline June 2024 – With less than a month to go before the 6 July 2024 deadline for transposing the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD", the “Directive”), countries in Central and Eastern Europe (“CEE”) are still at different stages of implementation. While Romania and Slovakia have completed their legislative processes, Bulgaria and Croatia are still in the legislative pipeline. The Czech Republic and Hungary have completed, at least partially, their transposition, with additional legislation still to be implemented, albeit within uncertain timeframes. For a more comprehensive overview of each stage of the progress on CSRD transposition
Kinstellar welcomes new Managing Associate Iva Bilinská to its employment team
Kinstellar is pleased to welcome Iva Bilinská to serve in the position of Managing Associate, covering the employment law agenda within our Prague team. Iva Bilinská brings extensive expertise and a wealth of experience to Kinstellar, particularly in the area of employment law, having practiced in this field for over a decade. A passion for her work serves as a strong motivation to grow professionally and to find innovative solutions for clients. Moreover, such a crucial specialization enables the effective tackling of even the most complex employment law problems, which makes Iva an invaluable addition to our team. Iva offers an extensive work history, including holding positions at renowned firms such as Kooperativa
Kinstellar advises S IMMO AG on its acquisition of a EUR 463 million property portfolio in the Czech Republic
Kinstellar has successfully advised S IMMO AG, a real estate investment company, on the successful acquisition of a property portfolio in the Czech Republic from CPI Property Group. The portfolio consists of two office buildings, two shopping centres, a mixed-use property and a single-tenant retail building. The property value of the transaction is EUR 463 million with an annual rental income value of around EUR 28.3 million. We're delighted to have supported S IMMO AG in their strategic acquisition, enhancing their footprint in the Czech real estate market. We believe our expertise played a role in the successful outcome of this transaction, showcasing our team’s ability to efficiently handle major real estate deals.Klára
Update on the ESG reporting obligations in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia
CSRD implementation: regional progress uneven as deadline draws near As the 6 July 2024 deadline for implementation of the EU Corporate Sustainability Reporting Directive (EU) 2022/2464 (the "CSRD") approaches, a new landscape of reporting standards is beginning to take shape across Central and Eastern Europe ("CEE"). Three of the six countries in CEE (the Czech Republic, Hungary and Romania) adopted legislative acts in the beginning of 2024 that, at least partially, implement the CSRD into national legislation. The progress in Slovakia, Bulgaria and Croatia however has been slower. Our third status update on the CSRD implementation in Bulgaria, Croatia, the Czech Republic, Hungary, Romania and Slovakia is available here. For
Kinstellar advises Dig Ventures on significant investment into mobile app security innovations
Kinstellar's Prague office successfully advised Dig Ventures on a strategic investment into Talsec, a Czech startup specializing in mobile application security, as part of Dig Ventures’ efforts to expand its global presence and support further innovation in its security solutions portfolio. Talsec, which originated as a spin-off from technology company Monet+, has demonstrated substantial organic revenue growth over the past two years. The company develops specialized tools that protect mobile applications from hacking threats, conceal sensitive information, and identify malicious software. Talsec’s solutions are already helping to secure over a thousand apps from various companies, including insurers like Generali