Recent years have seen turbulent times in the global financial markets, and the Czech Republic and CEE real estate markets have been significantly impacted. Deal activity has slowed dramatically and property yields shifted sharply upwards before descending once again from the end of 2011.
As companies strive to rebuild investor confidence and restructure for long-term survival rather than quick gains, the role of the professional advisor has taken on an increased level of importance.
PwC in the Czech Republic has a well-established industry-focused team devoted to working with players in the real estate industry to address the issues facing the sector in today’s market.
Our Real Estate team includes experienced Tax and Legal, Assurance and Financial Advisory professionals.
We advise funds, companies and individuals active in real estate investment, development, financing, operating and construction on a wide range of issues across the region. Across CEE, PwC is one partnership, which eases cross-border cooperation when providing our services. Our Real Estate Industry Team is integrated as one network in the CEE region.
Across CEE, PwC is one partnership, which eases cross-border cooperation when providing our services. Our Real Estate Industry Team is integrated as one network in the CEE region.
Our CEE team closely cooperates with other European and global offices as part of the PwC Global Real Estate network.
Property issues can be complex, frequently spanning numerous jurisdictions and subject to frequently changing regulations. To achieve a fully commercial, efficient and cost-effective solution you need a multi-skilled, multi-territory team who can respond quickly and consider all aspects of your business and the environment in which you operate.
We assist to support an acquisition or disposal process for the buyer or seller. This includes identification of key legal, financial and tax issues through due diligence together with deal negotiation assistance, including reviews of SPAs. In addition, the proper structuring of the transaction is key to achieve any business objectives in a tax efficient manner. We also advise on investment prospectuses, financial modeling and deal documentation from the legal, financial and tax perspective.
Ensuring the most tax-efficient structure is a critical aspect of maximizing investment returns. Our tax structuring team is closely connected to PwC’s international network, to ensure that the latest knowledge and opportunities can be considered and implemented to meet our clients’ needs.
As companies’ focus moves from acquisition to asset management, existing systems may not always be fit for purpose and experience may be short of requirements in some areas. Our global experience means that we have an extensive track record of assisting companies with implementing and developing systems to provide a stronger level of asset management. This can range from providing accounting services or providing support to your HR function to performing property audits and service charge reviews.
We provide third party assurance services (audit and limited reviews) in accordance with both International Standards as well as Czech Republic standards.
Our valuation team is experienced in performing valuations in accordance with local regulations. We have performed various valuations of companies for restructuring of property holdings through mergers and de-mergers and PwC is certified to act as a court-appointed expert when required to support the sale of shares or other assets.
As funds come under increasing scrutiny from regulators, financial institutions and investors alike, the focus on risk management and compliance has intensified. Our risk assurance practice has extensive experience providing advice or support in the areas of Internal Audit, internal control reviews and regulatory compliance.
Our treasury team has helped a number of funds implement risk management strategies such as foreign exchange and interest rate hedging. Our advisory team has also assisted companies with finance raising and support with restructuring existing financing / assurance services to help provide banks with additional comfort.
Management needs to be agile to change as the market emerges from an extended period of crisis and begins to mature. We provide a full range of business advisory services including the legal, accounting and tax aspects which need to be addressed by investors and developers alike. This includes full support for the preparation of contractual documentation, identification and solution of ad-hoc issues.
We provide a full range of statutory compliance support including tax and accounting compliance services under both Czech regulations and International Financial Reporting Standards.
Our Academy provides professional training tailored to meet our clients’ requirements. We have an extensive ACCA programme which has been running for a number of years and are one of the few training providers on the market who offer the internationally recognized IFRS Diploma and the prestigious CIPD qualification for HR leaders.