Many foreigners search for an EU country to open a company in. Among their choices is also Slovakia which is one of favorite countries to do business in. One can also choose from several types of structures which are regulated by the Slovak Commercial Code. Most Slovak companies are registered as sole proprietorships and private limited liability companies.
What do you need to know before opening a Slovak company?
Even if there are no special requirements when starting a company in Slovakia, you will need to consider a few aspects like a trade name and a business address. These must be decided before the company is registered. Also, in case you want to open a private limited liability company (in Slovakia known as s.r.o.), you will need an initial capital of 5.000 euros. The legal requirement for basic capital is 5.000 euros and the minimum value of share for 1 shareholder is 750 euros. The capital can be in cash, assets or both. You will also be required to appoint a director for the company.
The steps you need to follow to register a company in Slovakia
Once you have every of the aspects mentioned above in place, you can start the registration procedure of the Slovak company.
- Choose your business name, legal seat and object of business
- Prepare the documentation regarding company formation, sign it at the notary
- Get your Trade license at Trade license office
- Deposit your file at Commercial register at District Court
- Register your company at Tax Office
- Open your bank account
No matter the way you decide to register a company in Slovakia, make sure you have complied with all the legal requirements and registration process before you start. If you need help, do not hesitate to contact us. Good luck in making business in Slovakia!
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