With 3.8 million visitors every year, the tourism sector accounts for 2.5% of the GDP and 4.5% of the total workforce employed in the country. Foreign investors who want to open a hotel in Slovakia should know that the hotel industry is an attractive investment sector and a strategic priority for the government. The hotel industry is defined by increased competition and high demands for quality services. Besides accommodation, other services are provided by the hotel industry in Slovakia: entertainment and community services, catering and ancillary services and recreational sports services on the active leisure.
Our company formation experts in Slovakia can give you further details on the matter.
Foreign investors who want to start a business in the tourism sector in Slovakia should know that they can incorporate any type of company which best suits their interests. The main steps for opening a hotel in Slovakia are:
• Choosing and registering a name with the Commercial Register;
• Draw the articles of association and have them notarized at a local notary public. This step can be concluded with the help of our Slovakian company formation agents;
• Register the company with the District Court;
• If you decided to register a limited liability company, you should obtain a document providing information about the tax arrears of the partners from the Tax Authority Office;
• Register for tax purposes, social insurance and pensions.
The hotel regulations in Slovakia are meant to ensure comparable standards to those in other EU countries. The economic transformations of the country after it joined the European Union have changed the hotel ownership structure. There are three types of hotel ownership in Slovakia:
• Individual – a person/group of persons or a company with more than one manager is the hotel owner;
• Franchise ``rent`` - the hotel is owned by a company and another one manages its operational activities;
• Hotel chains – the owner and operator of a hotel is an international hotel chain. A chain is comprised of at least two hotels.
Several types of accommodation structures are available for those interested in opening a hotel in Slovakia. These include the following:
• Apartments in Slovakia – private apartments, apartment houses and apartment hotels are accommodation facilities to invest in Slovakia;
• Hotels in Slovakia – garni hotels (breakfast only), mountain hotels, wellness hotels and spa hotels are available possibilities to choose from when investing in the hotel industry of Slovakia. There are 5 classes of hotels in Slovakia: 1 star (tourist hotels), 2 stars (economy hotels), 3 stars (standard hotels), 4 stars (first class hotels) and 5 stars (luxury hotels).
If you want to start a hotel in this country, don`t hesitate to contact our company registration agents in Slovakia for a personalized offer.