Company Secretaries in Czech Republic
where an Income Tax return filed in India with a least professional fee is 6 € to 7 €, while the same is charged by a Czech professional is 95€ to 98€. Accordingly, as per Czech Labor market the opening average Paralegal monthly salary for a fresher starts 3100€… — Author: Dev Sharma
Evolution of Indian Solicitors
It’s been a while since PM Narendra Modi frequently visiting mostly all countries around the world to blow the trumpet of India’s Economy. He has been vastly known for his immense leadership skills for marketing Incredible India and opening new avenues. At the same time, myself being a resident of Czech Republic since 2016, I mostly discovered the new aspects how Indo- Czech Economy are interdependent on multiple business facets.
Business relationships between Prague & New Delhi are a pre-independence story earlier 1947 which furthermore deeply emerged since then. Famous Czech Companies like Bata, Skoda has always been a larger player to engage employment opportunities while TATA Corps, Infosys, Ashok Leyland are among those who spread their wings in Central Europe since a long time in Automation & Information Technology.
Undoubtedly, all the aforesaid companies are in regular requirements of Legal compliance. The Company Secretary apparently holds up the greater position in Indian holdings irrespective of the foreign Parent Companies. However, as a Corporate Legal Adviser he might lack while moving to Czech Republic due to differences of legal information and knowledge of the land, while the basic jurisprudence remains the same. Here under this is a discussion laid down about the role of a Company Secretary in Czech Republic.
Company Secretary vis a vis Czech Laws
It has to be noted that there is nothing like Company Secretary or neither likewise legal expertise course in Czech Republic Universities nor position in Companies or LLPs. All they provide is the course of LL.b & LL.M. Also Czech Companies hires single position called ‘Legal Adviser’ for all of its corporate and non-corporate compliances. The primary scope for being a legal consultant in Czech Republic is that there is no minimum capital requirement for hiring a legal consultant and thus major & minor corporates are willingly outsources the whole legal department to a qualified law agency.
So basically an Indian Qualified Company Secretary cannot be appointed as a legal consultant to any Czech Companies due to non recognition of the likewise position in European countries. No Czech company entertains a Company Secretary certification from India due to an absolute heterogeneity of European Union (EU) and Indian laws.
Furthermore, to deal in Czech Ministries or Courts the official document language is Czech so one must be well equipped with such language to deal with local clients. So far we haven’t witnessed any Indian citizen who has a direct dealing in Czech Law System.
Institute of Company Secretaries of India (ICSI) provides a certification course called ICSI, London which enables many Indian Company Secretaries to get equipped and practice in United Kingdom (UK). Unfortunately, in 1972 the creation of ‘European Communities Act’ has given a superseding power of European Laws over UK legal system. Thus in case of conflicts between the two systems the earlier always prevails. The gap shall be widened after BREXIT wherein UK would no longer be a part of European Union and its Legal policies. But there are ways to get the Company Secretary Certification get recognized through the university programmes.
Company Secretary Certification: An Acknowledgement
Very few Czech universities accept Company Secretary Certification equivalent to Bachelors and further allows pursuing LL.M direct without doing LL.B. However, the case is absolutely circumstantial and rare. LL.M is an associate degree to proceed in Bar Council or practice as a Legal consultant in Czech Republic along with the knowledge of Czech language. Unlike India where organizations can escape with most of the legal requirements in a financial year, Czech Republic has one of the most stringent legal system after Germany in central Europe and Nordic countries which promotes the scope of working as a legal consultant.
The country with a huge infusion of foreigners from Russia, France, Spain, Ukraine and other nationalities who has set up their businesses therein, legal consultancy has always been a stumbling block for each of them. Therefore, taking advantage the consultants from other countries are welcomed under start-up schemes funded by University programmes.
It is stated that there is an imbalance of local population and qualified confident lawyers in Czech Republic. Also a similar law of the land with Slovakia encourages the law consultants to widen their scope to a next level. Major Limited Liability Partnership (LLP) has set up their offices in Prague and hires legal professionals from different nations and languages with a minimum requirement of Czech language. Definitive description of an attorney in Czech Republic is respectable & authoritative.
In the comprehension, a Corporate Professional from India paves way in the magical and one of the most beautiful countries of Europe combining the elements of:
1. Czech language
2. Company Secretary Certificate Recognition
3. LL. b Degree from a recognized university
4. A good blend of basic European laws & drafting skills
The Upshot
Based on Germanic Civil laws, the constitution of Czech Republic are fundamentally bifurcated into private & public laws which are Civil Laws, Criminal Laws, Administrative Laws, Labor Laws, International Treaties approved by European parliament. Since 2004, the European Union (EU) Law has supremacy over Czech Laws in defined areas. General established companies in Czechia are Joint Stock Companies (a.s.), Limited Liability Partnerships (s.r.o), Co-operative societies.
Few Indian universities provide Czech language courses. Furthermore, legalization and appostille of Company Secretary Certification can be done at a cheaper price. However, ICSI heroes also have an opportunity to explore avenues of Arbitration, European International and Czech Custom Laws. These three areas do not mandatorily require command of Czech Language with high demand in industry recruitments.
As per Czech legal system, the professional gains can either be on an hourly basis or lump sum per contract. The consultants often states the overall amount of fee involves in each contract. Comparatively to India, gains are four to five times higher. For e.g. where an Income Tax return filed in India with a least professional fee is 6 € to 7 €, while the same is charged by a Czech professional is 95€ to 98€. Accordingly, as per Czech Labor market the opening average Paralegal monthly salary for a fresher starts 3100€. It is mandatory for Legal Processing Outsourced companies to pay their employees as per Minimum Wages Act.
Henceforth, other than United Kingdom with a highly competitive and expensive market, professionals must seek to open new doors in European countries to meet the soliciting & population ratio.
Remarks
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