The Slovak limited liability company can be managed by one or more executives or one or more procurists. Concerning the Slovak Commercial Code the executives as well as procurists are nominated by the shareholders of the company. It is up to the will of shareholders how to manage the possibility of executives to act on behalf of the company- to make business in Slovakia. If there is one executive, he can act independently. In case there are two or more executives they can act independently or all the steps will be mutually approved and all the acts shall be mutually signed. The procurist can manage a company but he is not entitled to sell or donate real estates, nor to register any pledge on it. This is a difference between the position of procurist and executive.
What is your obligation when you are a foreigner abroad EU? What shall you know when you want to make business in Slovakia? In case you are a citizen of a state that is not a member of EU and you want to manage a company- make business in Slovakia as executive or procurist, you shall provide your business residence permit In Slovakia in order to act on behalf of the companyin Slovakia. Only from the moment of getting the business permit in Slovakia you are entitled to make business in Slovakia.
Before applying for business permit in Slovakia you shall know that except your Criminal record, a contract on accomodation, a good business plan, you shall prove financial guarantee of two types. The first one shall be a financial guarantee for your business and the other one is a financial guarantee that regards your personal stay. The requested minimum changes every year by legislation. Therefore do contact us for further details.
This financial guarantee shall be deposited on a bank account even in your country. The one regarding your business shall be registered on behalf of the company and the other one shall be registered on your name and surname as personal account. If you are a citizen of a non EU state, you shall deposit all your documentation at the closest embassy of Slovakia in your home country after previous agreement with Embassy of Slovakia. All the documentation shall be officially translated to Slovak with apostile.
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