If you plan to open a financial company in Slovakia, you need to know what a financial company is. To simply put, a financial company makes financing available for businesses. They provide loans to either individuals or other businesses. Finance companies specifically provide loans to its clients. They are different from banks because they do not accept deposits. But before you can open a Slovakian financial company, the rules under the Companies Act must be followed. This is the law that governs companies in Slovakia. You can consult our experts in company formation in Slovakia to know more about starting your financial company.
How to open a financial company in Slovakia
There are certain steps that need to be followed in order to open a Slovakian financial company. Our specialists in starting a business in Slovakia have listed them down:
1. Prepare a business plan
Having a specific guide on how you will run your business is very important. This should cover everything from projected cost of running the financing company to possible changes in the financial market.
2. Have a definite market
Financial companies cater to the needs of different types of individuals or businesses. Some cater to the needs of the agricultural sector while others on the commercial. It is best to focus on a certain type of market in order to really familiarize the needs of your possible clients and to understand how to adjust your business according to their preferences.
3. Register your financial company
Under the Companies Act of Slovakia, the legal personality of a company only starts upon registration. This means that in order to have the capability to enter into transactions, the financial business
must first be registered. The business registry
of Slovakia is the Ministry of Justice.
Types of financial companies in Slovakia
The Companies Act provides for different types of corporate structure
for your financial business in Slovakia
. These are the business structures identified by our associates that know how to open a company in Slovakia
- Limited liability company;
- Joint stock company;
- Limited partnership;
- General partnership;
- Sole proprietorship;
- Branch of a foreign corporation.
It would be good to consult the right incorporation consultants if you want to open a financial company in Slovakia
. Just contact
our experts in Slovakian company formation
and they will provide you with the information you need and they will also handle the entire company registration procedure.