03
Sun, Jul
42 New Articles

The COVID-19 pandemic undoubtedly hit the real estate market. In response, the government adopted a series of measures that included an extraordinary moratorium, often used by commercial tenants, and a rent reduction scheme in which the government subsidized the rent in cases where the landlord was willing to provide a discount. Most importantly, the crisis made the government abolish the 4% real estate transfer tax.

Thinking about my journey and experiences as an expat lawyer in the Czech Republic, I vividly recall one of the early client meetings I had fresh off the boat in the mid-1990s. A CEE client came to the office with a “suitcase” telephone … an old school plastic telephone with a rotary dial and a long antenna, encased in an MDF “custom telecommunications suitcase” which he proudly lugged onto the desk …  (He was also wearing one of those plum-colored shiny polyester suits so beloved by New Europe Entrepreneurs in the 90s). Note to incredulous young lawyers reading this: in those days there were no mobile phones (The horror!).

As the Czech government signed off on the EU “Green Deal”, which aims to cut carbon dioxide emissions to zero by 2050, the Czech Republic needs to find ways to achieve this goal, or at least to get close to it. Even though certain legislative and other supporting measures are currently being undertaken towards transitioning to low carbon energy – changes to the Czech Act on supported sources of energy, state subsidies for the (re)construction of power plants – given its geographical specifics and historical background, nuclear power is likely to play a key role in replacing coal-burning power plants. Under current state policy, construction of new nuclear reactors is to begin shortly. The first new reactors, to be located at the current Dukovany power plant, should begin operations by 2037. The Dukovany project took precedence over the construction of new nuclear blocks at the Temelin power plant, a priority at the beginning of the 21st century.

Our Latest Issue