
Foreign businessmen who are interested in the
insurance industry in Slovakia are advised to set their operations here, as the companies in this field report very good financial results. Moreover, it is estimated that the market will further develop. In order to
establish an insurance company in Slovakia, the investors should
incorporate the company in accordance with the rules available for any other
type of company. However, due to the particularities of the domain, the entrepreneurs will need to
obtain business permits and licenses that will allow them to carry their activities as prescribed by the local legislation.
Our team of Slovakian company formation specialists can provide assistance on the
incorporation process, as well as on any other aspect that may refer to this domain.
Insurance industry in Slovakia
A study conducted in 2015 related to the development of the insurance market provided positive information on this domain. As such, the value of the insurance contracts can develop throughout 2016 and the following years, as an effect of the individuals’ income growth.
Foreign investors should know that the Slovakian market represents one of the most important markets in this field in its region (Central and Eastern European countries) and the estimates for 2020 set out the value of the insurance industry at EUR 2,6 billion.
The
Slovakian insurance market presents positive prospects for the
life insurance contracts, as well as for
non-life contracts, especially for
car insurances. The
life insurance contracts can grow to a share of 61,8% in 2020, from 57,5% in 2015;
our team of Slovakian company formation representatives can provide more details on this subject.
Register a Slovakian insurance company
The procedure for the incorporation of a company in Slovakia is similar to the registration process available in other European countries.
The investors will have to
choose a legal entity that will represent their interests on the
Slovakian market and to notarize the statutory documents of the future
company. The procedure is handled at a public
Slovak notary. A particularity of the
Slovakian legal system refers to the establishment of the
One-stop shop, an entity which created the
Trading Licenses Office, where businessmen can apply for several compulsory requirements (trade licenses, income tax, health insurance) by submitting only one form, which will then be sent at the
Registry Court.