Slovakia is a Central European country where the life of society is characterized by a high desire to use time efficiently. In Slovakia, the legal aspect of registering enterprises exists beyond the bureaucracy and takes a minimum amount of time.
Starting a business - registering a company in Slovakia
A large number of businessmen prefer to register their organizations in the territory of Slovakia. The formalities for registering a legal entity in Slovakia, thanks to the efficient operation of public services, take a minimum amount of time and effort.
The main reasons for starting a business in Slovakia:
- The location of the country in the central part of Europe is a vast territory for successful business development;
- Labor remuneration in Slovakia is one third lower than in neighboring countries;
- Slovakia has a low level of emigration;
- The country's economy has been growing progressively over the past years;
- Slovakia ranks forty-eighth in the ranking of economic growth among European countries;
- The sale of agricultural land plots to buyers from foreign countries is open here;
- Compared to other European countries, the tax calculation system in Slovakia is more acceptable.
Business forms
Popular forms of organizing commercial activities in Slovakia:
- JSC;
- COMPANY.
Registration of Open Joint Stock Company (A. S.) in Slovakia
- On the stock exchange of Slovakia, the shares of an open joint-stock company are in free quotation.
- The shareholders may include individuals and legal entities who are citizens of Slovakia and other countries.
- The number of shareholders consists of two or more people, on behalf of a legal entity it can be in the singular, the limit in the quantitative relation of participants in the direction of growth is not indicated.
- The obligations of shareholders are strictly limited by the Law.
- Organizations registered in Slovakia, in accordance with the current legislation of the country, are responsible for the fulfillment of obligations and repayment of debts within the limits of their property.
- The amount of the initial authorized capital for the registration of an open joint-stock company in the specified country is twenty-five thousand euros. The amount is deposited in a lump sum to the account.
- A legal entity has the right to issue shares.
- The supervisory and management functions over the organization are vested in the Board of Directors, as well as the Supervisory Board, which consists of six members.
Registration of JSC (S. R. O.)
- The liability of the members of the joint-stock company is directly proportional to the size of their shares as a percentage in the formation of the authorized capital. The contribution to the authorized capital starts from five thousand Euros. This amount is credited to the account at a time.
- The size of the shares of the founders must be at least seven hundred and fifty euros (per participant).
- CJSC members can be citizens and organizations, regardless of citizenship of any country.
- The maximum number of participants is no more than fifty people, the minimum is one.
In the absence of a residence permit in Slovakia, when registering a legal entity in this country, there are some peculiarities. This also applies to acquisitions of existing organizations. In accordance with the laws of Slovakia, a person who has citizenship of another country has the right to obtain a residence permit, guided by the fact that he is managing a company registered in the country. The participant (founder) is not endowed with such privileges.
In the case when the head of the company does not have local citizenship and residence permit, the organization cannot be included in the Commercial Register of Slovakia. Registration of a package of documents takes about three months in total. It takes about 2-3 months to get all the necessary documents. Lawyers of Law & Trust will help you register a company in Slovakia painlessly and in the shortest possible time.
To register a legal entity in Slovakia, you will need:
- Draft Articles of Association and Articles of Association;
- Information about the absence of a criminal record from the general director (head) of the company from the law enforcement agencies of Slovakia and his country.
- Documentary confirmation of the existence of the legal address of the enterprise.
- Documents confirming the crediting of funds to the company's account for the formation of the authorized capital;
- Documents on the formation of shares of participants in the company.
The Articles of Association and Memorandum of Association of the company must be certified by a notary office, after which the information is entered into the lists of the Trade Register.
To carry out activities subject to licensing in Slovakia, you must submit a package of documents to the Department of Trade and obtain a license.
Features of accounting in the territory of Slovakia
Financial statements are submitted to the tax authorities annually. But there is a need to conduct an audit if two of the following reasons exist:
- At the end of the year, the total revenue exceeded two million euros;
- The assets reflect the amount over one million euros;
- Within a year, the staff of the enterprise has grown and is more than thirty employees;
- The organization issued shares and opened the sale on the stock exchange;
- The organization's activities are subject to licensing
Taxation system in Slovakia
The country has a unified taxation system, which makes up twenty-two percent of the company's profits.
Types of taxes for organizations:
- from royalties (19%);
- from the amount of rent (25%);
- income from accrued interest (19%).
There is no value added tax system in Slovakia. When selling for export (excluding financial, insurance, as well as in the field of broadcasting and education).
Registration of an offshore company in Slovakia
If you are faced with the problem of registering a legal entity, we will tell you how to register a company in Slovakia. Law & Trust can offer a full range of services for the registration of offshore companies in Slovakia. Experienced lawyers are ready to take on all the steps for registering a business in this country, formalizing a sale and purchase transaction for an operating enterprise.
