Establishing a Company in Slovakia
Generally, foreigners are granted the right to engage in business under the same conditions as Slovak persons. To establish a company in Slovak republic, it is not required to have a residence permit.
Whether you decide to seek an assistance by establishing a company in Slovakia or not, below you can find information about conditions and process of establishing a company in Slovakia for non-residents. When speaking about company we mean Limited liability company (in Slovak “s.r.o.” or “spol. s r.o.”), which is the most popular form of company. This is because its partners have almost no liability for debts of company. Establishing other kinds of companies (partnerships or limited partnership) is very similar.
To establish a company in Slovakia you need to prepare following documents:
- Memorandum of Association is the main document including basic information about the company: its business name, address of its registered seat, identification of partners and executive directors, scope of its business and the amount of stock capital. Memorandum must be signed by all partners and their signatures must be officially authenticated.
Partners (also shareholders) are persons who own a share in a company. The profit of the company is divided between partners. It is not required for a person to have a residence permit to be a partner. The partnership of the company itself does not grant a residence permit.
Executive directors are persons who act in the name of company. Executive directors who are not citizens of EU countries/OECD countries need residence permit. Temporary (3 year) permit is granted to them based on the fact, that they are executive directors of a Slovak company.
It is possible for a person to have both positions – a partner in company and an executive director, but it is not a must.
- Declaration on honour in accordance to section 105a of the Commercial Code. This section stipulates following restriction: company with only one partner can not establish another company. A person can be the only partner in only three companies.
- All partners need approval from tax office. The approval is granted, if the partners have no debt in tax, custom, health and social insurance.
- Specimen of signature of executive directors. The specimen does not need to be officially authenticated.
- As for the stock capital, it is required to be in the minimum amount of 5 000 eur. The smallest contribution from one partner must be at least 750 eur. The contributions of all partners must be paid to custodian of contributions (a bank or one of the partners). Custodian issues a confirmation for paid contributions and he is liable for it is in fact paid. The money must be located on a separate bank account.
- License to carry out business. The nature of the license depends on what kind of trade the company intends to carry out. Some business activities can be provided by everyone (unqualified trades), but for some licenses certain qualification or higher education is required. These kinds of trades can be only carried out through a competent representative. Together with license, also identification number („IČO”) is given to company.
After completion of all these documents, all partners together apply for the incorporation of the company into Business register. Normally, court is obliged to issue Declaration of incorporation of company into Business register within 5 working days, but sometimes it takes a little longer.
After the incorporation the company must apply for registration for corporate income tax. The application is submitted to the local tax office.
At this point the process of establishing the company is over and the company is ready to carry out business.
Our service by establishing a company in Slovakia includes following range of activities:
- We will have an initial consultation where you will tell us about your business vision. This consultation can be in person, by telephone or by e-mail.
- We will draw up documents for your signature.
- We will verify the signed documents electronically and send them to the competent Trade Licensing Office, Commercial Register and the Tax Office.
- We will advise you on how to deposit the registered capital into a separate bank account. Or, we will open the bank account for you and pay up the registered capital.
- We will pay the fee to register your company in the Commercial Register.
- Once the company has been duly incorporated, we will send you an original extract from the Commercial Register, including all documents of incorporation.
Our complete company formation package guarantees you full assistance and payment of all fees associated with establishing a company in Slovakia.
What is the cost of complete company formation?
How long does it take to establish the company?
* the final price does not include 20% VAT
Optional company formation services in Slovakia:
- Virtual registered office in Slovakia starting from EUR39 per month
- Accounting in Slovakia starting from EUR70 per month
- Fixed price with no hidden fees.
- Your company will be registered in the Commercial Registry within the agreed time, guaranteed.
- Services within the Slovak Republic are provided by a contracted partner of podnikajte.sk, FONTIONNEL s.r.o., which has already served more than 2,500 satisfied clients.