Amendment to the Foreign Exchange Act

The amendment explicitly specifies transactions for which a foreign exchange permission shall be required. With effect from 1 January 1999, no foreign exchange permission will be required for:

  • transactions with specifically defined foreign securities;
  • purchase and sale of gold and money in foreign currency;
  • transactions involving specifically defined financial derivatives;
  • provision of specifically defined financial loans, etc.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information on the above, please contact Mr Richard Fletcher by telephone on +420 2 2440 1300 or E-mail directly to Click Contact Link