Open an Insurance Company in Slovakia

Updated on Thursday 26th May 2016

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Open-an-Insurance-Company-in-Slovakia.jpgForeign 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
 
Businessmen who need assistance for the incorporation of an insurance company in Slovakia can address to our team of Slovakian company incorporation consultants
 

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