1. Markéta Maříková

2. In connection with the accession to the European Union on May 1, 2004 came into force the provisions of the Banking Act (No. 21/1992 Coll.) governing the single banking license. This day, there was a significant simplification of business by foreign banks, financial institutions and legitimate institutions authorized to issue electronic money in the Czech Republic and czech banks in the EU member state.

3. The principle of a single banking license is based on the freedom to provide services and freedom of establishment, as on of the fundamental principles on which the European Union stands.

4. In general, the principle of a single banking license means that it is issued only one licence, which entitles the holder to engage in the licensed activity not only in the state where the license was issued, but also in the territory of another member state without being in the host country had to be issued new licence.

5. Banks with head offices in home country may undertake in the territory of another member state (host state) of the EU through its branch specific activities, if authorized, their performance has been awarded to these banks in the home country.

6.  Acceptance of deposits of the public  Lending  Financial lease  Providing of payment services and issuance of electronic money  Issuing and managing payment instruments  Guarantees  Trading for own account or for account of costumers

7.  Participation in securities issues  Money broking  The storage and administration of securities  And so on …

8. Bank or eligible financial institution wishing to establish a branch in the host state shall inform the supervisory authority of the home state and report him in writing the following information:

9. a) On the territory of a member state which intends to establish a branch b) The business plan with a particular specification of the planned activities c) The organizational structure of the branch d) The address of the host state in which it is possible to obtain documents e) The names of persons responsible for the management of the branch

10. Supervision over such established branch, respectively its cross-border activities subject to supervision by the home country and the other member state must respect its result. The supervisory authority of the host members state is entitled to exercise supervision only in narrowly defined areas specified in the legislation.

11. License expires: a) The date on which the decision becomes final to revoke the license b) The date on which the bank canceled if canceled with liquidation c) The date on which the General meeting decides that the bank continues to not perform an activity which requires a license d) On the day when the bank clears from the Commercial register