The Slovak financial sector has been rapidly growing and commercial banks are at the core of the financial institutions. For opening a bank account in Slovakia, it is recommended that you come and do it in person, but our company formation experts in Slovakia can make sure that you are provided with the necessary information and assistance throughout the whole process, regardless of the place you are opening it from.
There are no restrictions on opening a bank account for foreigners in Slovakia. However, every bank has different approaches and requirements, so it is best to check before. For example, some banks may open accounts for foreigners only after they receive approval from the bank’s headquarters. Other banks may refuse opening accounts with a power of attorney. Some of the requirements for opening a bank account by a non-Slovak resident are as follows:
Slovakia’s banking field is safe and the Slovak banks are ranked as one of the most stable in the Euro zone and the European Union in general. This stability has been possible due to the fact that local banks have not distributed more than 50% of their profits in the last years, which helped boost their capital.
Big part of the Slovakian banking sector is foreign owned, being dominated by banking groups such as Raiffeisen bank, Unicredit Group etc. It is advisable to open a Slovak corporate bank account with a bank with which the foreign investor already has an account in his/her country of origin.
You can contact our team of company incorporation experts in Slovakia if you need help in opening a Slovak bank account. Furthermore, our team of Slovak company formation consultants can also help you handle the company formation procedure when starting a business in this country.