Global FinTech Guide
Country Name
Czech Republic
Asset and portfolio management
FinTechs belonging to this category offer asset and portfolio management services via an internet platform or software programs and usually manage and dispose of the assets of their customers long or short term according to their specifications without actually holding the property or the possession of those assets. FinTechs, which provide information about and access to overnight or time deposit accounts at national and foreign banks and which execute the transactions to these accounts, also belong to this category. Some FinTechs however only act on request of the customer.

Aside from that some FinTechs offer software or internet solutions enabling users to manage and plan their personal finances on their own by providing graphics, overviews and compilations of their financial data and sometimes indicating financial risks or opportunities, but without actually managing the assets.


Attitude of the country towards modern asset and portfolio management services

Automated financial portfolio management and robo-advice are one of the fastest-growing fields in portfolio management. The asset management industry is primarily driven by technology and is shaped by trends in cloud computing, the Internet of Things, advanced analytics, as well as artificial intelligence. Examples of robo-advisory companies operating in Czechia include Portu, Fondee, and Indigo – lately, all of these have been growing in terms of a number of users as well as the value of managed assets as Czechs seek new opportunities how to invest their money.

Legal affairs

Obligations and requirements to provide asset and portfolio management, or ancillary services described above

Regulation in the area of investment services applies to bank and non-bank securities brokers (including non-EEA branches), investment intermediaries and tied agents of securities brokers and investment intermediaries.

A securities trader's license is required for the provision of investment services, i.e. the receipt and transmission of orders relating to investment instruments, the execution of orders relating to investment instruments on behalf of a client, trading in investment instruments on own account, the management of client assets, investment advisory services, the operation of a multilateral or organised trading facility and other services listed in the Act on Capital Market Business or European regulations. 

A license is required for asset managers associated with investment instruments (asset or wealth management). There are several categories of securities broker (“OCP”) licenses, and the complexity of the licensing process at the CNB depends on these categories: (i) OCP with full license and the ability to receive customer assets (initial capital EUR 730.000), (ii) OCP with the limited license and the ability to receive the deposit. (iii) an OCP with a license without the possibility to receive customer assets (initial capital EUR 50,000), the execution of this version of the OCP being relatively the least complex in practice.

The costs of a licensing procedure include the administrative fee (up to CZK 200,000, i.e. approx. EUR 8,000) and additional legal and other associated costs of up to dozens of thousands of euros, depending on the license type and on which and how many types of investment services the license is supposed to cover.

Funds and investment instruments entrusted by the customer to the company are, in accordance with the Act on Capital Market Business (256/2004 Coll.) subject to the guaranteed system provided by the Guarantee Fund. The Guarantee Fund shall provide compensation in the amount and under the conditions set out in the Act on Capital Market Business, but not exceeding the amount corresponding to EUR 20.000.

Additional comments regarding the legal situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

Many Czech regulatory requirements are based on EU law or are influenced by EU-wide developments. However, entities that wish to operate in the Czech market should mainly focus on the legal qualification of instruments covered by their services and assess whether they do or do not qualify as investment instruments under the relevant legislation.

Also, anti-money laundering and data protection regulations are to be complied with.

Economic conditions

Market size for asset and portfolio management services and biggest companies in this business area

Unfortunately, there is no statistical data covering the whole market/sector. However, based on the data published by the Czech Capital Market Association (, as of 30 June 2021, total assets entrusted to asset managers in the Czech Republic or through them to asset managers outside the Czech Republic amounted to CZK 1.73 trillion and increased during the second quarter of 2021 by CZK 41,4 billion (i.e. by 2% from CZK 1.69 trillion).

Additional comments regarding the economic situation for asset and portfolio management services or what FinTech’s must be aware of in this business area

Asset and portfolio management has traditionally been a financial service provided by banks and used by clients with more free funds. However, with the automation of financial portfolio management, it is now possible to invest less money with very low fees. The sector has thus been growing also due to new clients recruited from retail.



© 2022, ROWAN LEGAL. All rights reserved by ROWAN LEGAL as author and the owner of the copyright in this chapter. ROWAN LEGAL has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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