Slovakia is a member of the EU and NATO, an industrial country with a dynamically developing economy. Its official currency is the euro. The economic development of the country is mainly due to:
carrying out diversified agriculture
organization of tourist trips
automotive industry (Volkswagen, Peugeot, KIA Motors factories)
foreign trade (export of vehicles and their spare parts, equipment and electrical goods, metals)
What are the benefits for a foreigner starting a company in Slovakia?
Soft tax treatment
The ability of legal entities to receive investment incentives and various benefits
Low taxes
Liberal business laws
Opportunity to obtain a residence permit as an entrepreneur
Lack of double taxation with the Russian Federation and 90 other countries
In the Slovak Republic, the Constitution is the basic law. The economic rights and obligations of citizens are described in Articles No. 35-43 and 55-59.
There are also the following groups of laws conducting business in the Slovak Republic
Commercial Law,
Company Law,
Labour law,
Tax legislation,
Banking law.
Among them, the most important for foreign entrepreneurs are:
"On entrepreneurship" - the law defines the types of entrepreneurial activity and the requirements for their implementation;
"About accounting" - the law defines the requirements for keeping accounting documentation;
"On Income Tax" - the law governing the rates of income tax;
"On Value Added Tax (VAT)" - the law governing VAT rates;
"For consumer protection" - the law defines the requirements for the quality of products and services, the safety of their use, as well as information about the manufacturer.
"Regarding the stay of foreigners" - regulates the stay of foreigners in Slovakia based on different types of visas.
In addition, entrepreneurial activity is also regulated by the following normative acts
Commercial law - defines the types of legal entities and contracts, as well as the general requirements for transactions in the economic process;
Civil Code - defines the principles for concluding various types of transactions, family law and inheritance conditions;
Labor Code - defines the conditions for drawing up an employment contract, the norms of working hours, salaries, vacations, etc.
Investment Incentive Laws, Product Technical Requirements, Conformity Assessment, Network Industry Regulation, Consumer Protection, Product Liability, Trade Licensing Act, etc.
You can register a company in Slovakia in the following legal forms
Limited Liability Company - s.r.o. (Spoločnošť s ručením svečením) minimum share capital 8,000 Euro.
Joint company - a.s. (Akciová spoločnost) capital 25,000 Euro.
General partnership - v.o.s. (Verejná obchodná spoločnost)
Limited partnership - k.s. (Komanditná spoločnost)
European company (Societas Europaea, SE) - registered presence in Slovakia
European Economic Interest Group (EEIG) – official address in Slovakia,
The European Cooperative Society (Societas Cooperativa Europea, SCE) – registered office in Slovakia.
All the above legal forms of companies must be registered in the Slovak Commercial Register. The tax year coincides with the calendar year, although the taxpayer can determine it himself. In Slovakia there is a system of self-determination of the amount of the tax. Income tax is determined on the basis of an annual return, which must be submitted by the director of the company annually within 3 months after the end of the tax period. In case of non-compliance with tax laws, there are the following sanctions: fines (up to EUR 32,000) or % of unpaid tax.
The list of taxes must be included in the annual financial statements
Income taxes: general income tax (for legal entities - 21%), corporate income tax - 22%
Value added tax (VAT) - 20%;
*without insurance and financial services - 10%.
Excise duties.
Local taxes: corporate income tax - 22%, real estate tax - 0.033 euro / m², land tax - 0.25 euro / m².
Special fees for regulated activities.
Tax on dividends (0-35% in different cases).
Real estate (for owners or tenants).
Social tax - 35.2%
For more information, contact our Smart Startup UK lawyers. In order to open a business, foreigners as well as Slovak citizens need to prepare some documents. This process is quite complicated and time-consuming and requires the help of professionals, which you can also find on our platform.
The following documents must be prepared
Statutes of the future company;
Foundation agreement;
Certificate of criminal record of the founder in Slovakia and his home country;
Document confirming the registration of the company's legal address;
Bank statement confirming the transfer of the authorized capital to the company account;
Document for entering the shares of all directors in the authorized capital.
Steps to prepare documents
Notarize the collected documents
You register the company in the Commercial Register, and then in the Tax Office
Obtaining a license (confirming the right to carry out a certain type of business) at the Ministry of Trade
By turning to our legal company for help, you can be sure that you will find a company in Slovakia as soon as possible and at the lowest price. For years we have been cooperating with financial giants from all over the world such as KSOB, Swedbank, Rietumu Banka, Raiffeisen Bank, Hellenic Bank and others. These and our other reliable partners will provide you with favorable offers to open your business. Our clients are some of the biggest companies not only in Slovakia, but also in the whole world. Our online consultation works 24/7.
CREATE A COMPANY
Check and reservation of company name "Živnostenský" register
SRO company registration including government fees
Support for obtaining a tax number DIČ (Dañové identificační číslo)
Support for obtaining an ICO identification number (Identifikacni cislo organizacii)
A set of company statutory documents in electronic form Výpis z Obchodného registra (Výpis z OR)
Normative documents of the company Zaklaľatská listina
Opening a corporate bank account in the payment system
Assistance in opening a personal bank account
Opening a corporate bank account at the local bank Tatra banka, UniCredit Bank, PKO
Company stamp
VAT number at the tax office (Urząd Skarbowy)
Local Director for one (1) year
Support in obtaining a residence permit
Free consultation
Help with online trading and opening an account at viva.com for online trading
Accounting services - 12 months
Annual renewal (payable from the second year)
*Within 30 days
IMPORTANT! We can provide you with the initial share capital (if the amount is over EUR 5,000) for the registration of your company in the form of a loan from our company.
Please, if you are interested, make an inquiry to us.
What is the procedure!
1. You submit a request for company registration using the request form.
2. We check if the registration company name is free and eligible for registration.
3. Choose a bank that suits your company's needs from a list of Smart Startup UK partner banks provided.
4. We send you a proforma payment invoice to pay to our bank account + the initial capital amount of your company.
5. You receive all necessary company documents for verification.
6. You receive details of your newly opened bank account.
7. In the specified period (for Slovakia it is 30 days), you receive all the services included in the package.
8. You can manage through our platform all the services included in the package, as our team works 24/7 and you can get help from us within up to 30 minutes. We have built an internal ticketing system for our customers through which we process your every support request.
All services like management, accounting, request to open bank accounts, licensing, filing tax returns, paying taxes and more are done through your account on our platform, it makes it easy managing your business!
