FAQ

Updated on Wednesday 20th April 2016

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FAQ.jpgForming a company in Slovakia implies following some steps, from deciding on a suitable name for the company, to the company registration process. There are a few aspects that foreign investors should first analyze before opening a company in Slovakia. Our company registration experts in Slovakia have drafted a list of frequently asked questions regarding the process of starting a business on the country’s territory.

1. Is it possible for a non-resident to establish a business in Slovakia?

Yes, non-residents who decide to open companies in Slovakia can do so and what is more, the laws for a Slovak startup are rather similar for both Slovak residents and foreigners.

2. What are the costs for opening a company in Slovakia?

The start-up costs in Slovakia vary depending on what type of company you decide to establish in the country and also on the additional services (if any) you choose for your future business.

3. How long does it take to incorporate a Slovak company?

Incorporating a company in the Slovak Republic should not take more than a week if all the documents are in order and if they are all filed when requested. There are also some requirements that need to be met and asking for the help of a company formation firm in Slovakia is the advisable way to proceed when incorporating a legal entity on the country’s territory.

4. What are the most important steps for incorporating a company in Slovakia?

When setting up a company in the Slovak Republic, the main steps that need to be completed are as follows:

● choosing the type of company;
● choosing a suitable name for the company and receive the approval of the Company Registrar in Slovakia;
notarizing articles of association and related papers at a notary's office;
● putting together the application (with all the required information) so as to register your new company with the Company Registrar in Slovakia.

5. What are the requirements for opening a bank account?

If you wish to open a bank account in Slovakia, you need to submit a proof of identity (a passport or Slovak ID card). Our local experts can help you open a bank account in Slovakia and assist you through the other procedures for setting up a Slovak company.

6. Is there a minimum share capital needed for the incorporation in Slovakia?

There are several legal entities you can establish in Slovakia and depending on the type you choose to set up, the share capital varies. Our specialists in company formation in Slovakia can offer you complete information on the amount required for each legal entity (limited liability company, limited partnership, etc).

7. Are business permits and licenses necessary in Slovakia?

Yes, depending on the business activities you choose to operate in Slovakia, you could be requested to present a business permit or a license.

8. Why should I decide on investing in the Slovak Republic?

Amongst the most important reasons why you should invest in Slovakia, are the following:

- favorable geographical position;
- stability in economy and politics;
- Slovakia’s currency – Euro;
- low labor costs;
- highly-developed industry;
- fast-developing infrastructure.

Do not hesitate to contact our company registration consultants in Slovakia in order to receive complete information about investment options in the country.
 

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