Foreign executive of a Slovak limited liability company

There are many applicants who are interested to open a company in Slovakia.  But there are two different important things to understand, One, is the possibility to own the company or be the owner of the business share in Slovakia and the other is the right to act on behalf of the company in Slovakia ( to manage it).

So, the first question is, who can be the owner of the company or business share? Anyone, even a third country national can own a company in Slovakia or he can own the business share in Slovakia. The minimum amount of the business share of a limited liability company is 750 Eur and the minimum amount of the basic capital of a limited liability company  in Slovakia is 5000 Eur. The limited liability company is the preferred form of a company.

Who can execute on behalf of the company? Anyone, who is nominated by the shareholder, or general meeting to act on behalf of the company, who is at least 18 years old, and he does not  have any registration in his Criminal record and he is a resident of the European Union. In case the person who shall act on behalf of the company is not the EU resident, then he shall apply for business visa in Slovakia or find the person in whom he trusts to nominate him as the executive-

The business visa application shall be submitted at any Slovak embassy of the country of the applicant´s residence. So first, it is necessary to make an appointment at the embassy of Slovakia abroad, and to provide all necessary documents and submit all documents. Documents shall be officially translated into Slovak language by a translator registered on the list of official translators of the Ministry of internal affairs of the Slovak republic. The state authority shall make a decision within 90 days ( this usually takes longer) from the day of delivery of the documents to the state authority. This time period can be prolonged.