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Open a Foundation in Slovakia

Updated on Monday 19th June 2023

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Open a Foundation in Slovakia
 
Foundations in Slovakia are governed by the Foundations Law which is comprised in the Civil Code starting with 2002. However, this is not the only act providing for the creation of this type of organization.
 
Those who want to create foundations in Slovakia can choose between several forms of this type of organization which is why we invite to find out what each of them entails. If you need support in setting one up, you can rely on our Slovak company formation officers.
 

Steps in creating a Slovak foundation

 
 
In order to open a foundation in Slovakia, it is necessary to submit an application for the foundation's registration in the Register of Foundations maintained by the Ministry of the Interior of the Slovak Republic. The settlors must create the foundation by signing the foundation charter.
 
If a foundation is created by one person, only that person must sign the foundation charter. If there are other founders, they must all sign the foundation charter. The founders' signatures must be certified by a public notary.
 
The creation of a Slovak foundation is easier compared to that of a company, however, in this case there are other aspects to consider, and our local agents can offer advice in this sense.
 

Documents required to open a foundation in Slovakia

 
 
The main document required for the settlement of a foundation or non-governmental organization (NGO) is the charter. It must contain the following information:
 
The foundation charter must include:
 
  • - the foundation's name and address;
  • - the purpose it is established for;
  • - the name, surname (trading name), personal identification number (business identification number), and address of each founder's primary residence (legal seat);
  • - the value of the foundation's assets;
  • - the type of property each founder contributed to the endowment during the establishment of the foundation;
  • - the conditions for the distribution of the foundation's assets based on the beneficiaries it has;
  • - the criteria for the distribution of the foundation's finances to third parties, and any other details the founder deems appropriate to include.
The foundation's membership, trustees, beneficiaries, and voting procedures must also be provided.
 
Apart from these, the dossier forwarded to the Foundations Register in Slovakia must also contain other information apart from the charter of the NGO.  A written declaration by the founder of the transfer of property to the foundation's endowment or a written statement by the trustee of the founder's contribution made by the founder is required. Also, if the trustee is a foreign natural person, a document of long-term residence in Slovakia will be required. For companies acting as trustees:
 
  • - if the founder is a foreign legal entity, a certificate of the trustee not older than 3 months from the Commercial Register;
  • - any other proving documents issued by another official body not older than 30 days can also serve as evidence with the Ministry of Interior.
 
You can also rely on us if you want to open a company in Slovakia.
 
 

Types of Slovak foundations

 
Here are the 5 types of NGOs that can be created in Slovakia:
 
  1. foundations;
  2. associations;
  3. non-investment funds (NI Funds);
  4. organizations with an international element (OIEs)
  5. non-profit organizations (NPOs).
 
Our consultants can offer specific information on each type of foundation.
 

The NGO from a taxation point of view in Slovakia

 
Setting up an NGO in Slovakia may attract various taxes, among them:
 
  • -  the value added tax which is levied at a standard rate of 20%;
  • - a 10% VAT rate can also be paid upon the sale of books or other promotional materials;
  • - foundations can also receive donations from natural persons or companies (both taxpayers can donate 2% of their income tax to NGOs).
If you need help in creating a Slovak NGO, you can address our specialists anytime.

 

Meet us in Slovakia


Call us now at +421 915 980 808 to set up an appointment with our consultants, who are handling company formation in Slovakia. Alternatively you can incorporate your company without traveling to Slovakia.

As our client, you will benefit from the joint expertize of local accountants and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Slovakia.

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Mihai Cuc, Partner of MHC Law Firm

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