Property is dedicated to a trust fund either via a contract between the person who intends to dedicate property to the fund and the trustee or via a last will. This also applies to the founder and third parties. Parties who increase trust fund assets at a later time are not considered founders.
Assets (property) that may be dedicated to a trust fund include cash, receivables, securities, real estate holdings or other movable assets and valuables. This property need not necessarily be located in the Czech Republic.
If a foreign citizen dedicates property to a Czech trust fund via a contract, it is possible to determine the governing law in the contract, i.e. to agree on whether the contract will adhere to Czech or another country’s law. The property will then be transferred to the fund in accordance with the stipulated law.
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