Appropriate Cooperation Arrangements and Tax Agreements as a Condition for the Marketing of non-EU Alternative Investment Funds in the Czech Republic

Dept 35 - Financial Markets II Department
Dept 35 - Financial Markets II Department

Published

  • Financial Market
  • Capital Market
  • Investment Funds
  • Management Companies
  • Supervisory Authorities
  • Agreement

The AIFMD requires, inter alia, in relation to non-EU AIFs to be marketed in the EU these conditions to be met:

  1. appropriate cooperation arrangements are in place between the competent authorities of the Member State of reference and the supervisory authority of the third country where the non-EU AIF is established in order to ensure at least an efficient exchange of information that allows the competent authorities to carry out their duties in accordance with the AIFMD,
  2. the third country where the non-EU AIF is established has signed an agreement with the Member State of reference and with each other Member State in which the units or shares of the non-EU AIF are intended to be marketed which fully complies with the standards laid down in Article 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters including any multilateral tax agreements.

In terms of the Czech Republic the following arrangements comply with the aforementioned criteria:

  • List of countries with a cooperation agreement between the Czech National Bank and the supervisory authority of a non-EU country relating to efficient exchange of information: >> Complete list
  • List of states with a tax agreement between the Czech Republic and the non-EU country complying with the standards laid down in Art. 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters: >> Complete list

Therefore, AIFs in these jurisdictions are to be marketed or to continue to be marketed into the Czech Republic in accordance with applicable legal regimes. See also rules for marketing of the units and shares of investment funds in the Czech Republic - Investment funds and management companies.

Source: MoF, Section 02 - Financial Market - Dept 35 - Financial Markets II Department