The Central Securities Depository is a commercial entity and charges according to its tariff. Common charges cover owner account maintenance, invoiced retrospectively for the previous year; issue registration and maintenance for issuers; and individual transactions such as transfers, succession and security registration. The tariff changes annually. A transaction from an earlier year is assessed under the tariff then in force, rather than today’s.
Why pay for an account I did not open?
Most individual accounts at the Central Securities Depository originated in voucher privatisation, rather than a voluntary decision. Nevertheless, account maintenance is a paid service under the applicable tariff. Failure to pay puts the account holder in default, with the resulting interest and debt recovery costs.
Two points matter. Empty accounts are not charged: if the volume of securities is zero on the last day of a calendar month, or the account is closed, maintenance for an individual is free for that month. Accounts of deceased holders have been maintained free of charge since 1 January 2012, but the depository does not learn of a death automatically. Invoices continue until it receives a copy of the death certificate.
How much does owner account maintenance cost?
The charge is based on the securities’ nominal value, rather than market value. The law does not allow the depository to record securities at anything other than nominal value. As a result, shares with no real value may still generate a substantial invoice.
Under the CDCP tariff effective from 1 January 2026, minimum monthly owner account maintenance is €1.36 for an individual and €40 for a legal entity. The monthly maximum is €10,000 for both. The annual charge is the sum of twelve monthly calculations and is invoiced retrospectively at the beginning of the following year, even if the account was maintained for less than a full year.
What does an issuer pay?
Issuers fall under a different part of the tariff. Under the tariff effective from 1 January 2026, opening an issuer register costs €165. Registering a share issue costs €200 for an issue volume up to €24,999.99. From €25,000, the charge is €200 plus 0.001 of the issue volume, capped at €150,000. For debt securities, the charge depends on volume and time to maturity, with a minimum of €150 and maximum of €500,000.
An issuer of certificated registered shares also pays for the shareholder register. Registering the list costs €150 plus 0.001 of the issue volume, capped at €8,000 per ČEM identification number. Maintaining it costs €360 a year or €30 per commenced month. Recording a shareholder change costs €0.20 per share, with a minimum of €5 and maximum of €1,500.
Individual transactions
Submitting an instruction to register a transfer or movement of securities costs €55 under the CDCP tariff. Both transferor and acquirer pay, so the charge applies twice. Submitting an instruction to register succession, typically inheritance, costs €66. Security rights and transfers of title by way of security have two charges: €33 for submission plus 0.008% of the secured claim, with a minimum of €30 and maximum of €5,000. A correction following an accepted objection costs €100 per request.
When is there no charge?
Several transactions are free:
- Closing an owner account in the depository’s records is free, but only an account with no securities can be closed.
- Moving securities from an unassigned account to a member. On the holder’s request submitted to a member, both the depository and member must transfer the securities to an account opened with the member free of charge (Section 173v(4) of Act No. 566/2001 Coll.).
- An unassigned account ends automatically once it contains no book-entry securities. No closure request is needed (Section 173v(3)).
- Correcting an error caused by the depository. No correction fee applies if the inaccurate or incomplete entry resulted from the depository’s act or omission.
What to watch for
A fee question is always a question about a date. The depository’s tariff changes annually, and earlier versions govern transactions performed while they applied. For a transfer, security right or invoice from an earlier year, the relevant tariff is the one from that year.
Also distinguish the tariff from information on the depository’s website, which may not have been updated after a tariff change. The applicable tariff always governs.
If you are dealing with arrears after an account holder’s death or do not know what the account contains, first establish the position rather than paying immediately. We explain the process in our inheritance of securities service.
This answer provides general information on the law as at 10 August 2026. It does not constitute legal services or replace an assessment of an individual case. The details of your situation may differ. Book a consultation to discuss them.
