Spoločnosť s ručením obmedzeným (SRO), the limited liability company in Slovakia, is the most common form a business can take. This is especially due the relatively low incorporation requests.
What is the minimum share capital of a limited liability company in Slovakia?
A limited liability company in Slovakia must have a minimum share capital of 5,000 Euro, deposited in a bank account before theregistration.
What is the maximum number of shareholders in a Slovak SRO?
The maximum number of shareholders cannot exceed 50. Every shareholder must have a contribution of at least 750 Euro at the initial capital. If the company is founded by just a single shareholder, this shareholder is not allowed to be part of another limited liability company.
Why do you need a reserve fund for your limited liability company in Slovakia?
A reserve fund must be created at the time of registration of the company or the first time the profits are registered. A reserve fund consists in at least 10% of the company’s capital.
What is the management structure of a limited liability company in Slovakia?
The decisions are taken by the General Meeting of Shareholders and by an appointed Executive. The Executive is acting in the name of the limited liability company in Slovakia and if it is not from Slovakia but from a non-EU and non-OECD country, he must have a residence permit. It is not mandatory for thistype of company to have a Supervisory Board if not stated otherwise in the Articles of Association.
What is the registration procedure of a limited liability company in Slovakia?
The limited liability company Foundation document is based on the following:
- the name and address of the company;
- details regarding the founders;
- the type of activity;
- the amount of the capital;
- details regarding the Executives and if elected, Supervisory Board’s members;
- the estimated costs of incorporation.
The signatures from the Executives must be notarized. After issuing the Foundation document, the name of the company must be checked at the Commercial Registry. An already registered name is not valid.
For the trade licenses, the below documents must be submitted: a standard application form, the Memorandum of Association, extract of the criminal record of the Executive, a proof of payment of the special tax. The trade license must be received before registration with the Commercial Registry.
The registration with the Commercial Registry is based on the following documents: a completed standard application form, a notarized copy of the trade license, Foundation Documents, statement from the founder of the capital contribution, specimen signature from the Executive.
The registration process of a S.R.O in Slovakia cannot start later then 90 days since the Foundation documents were signed. Our company formation experts in Slovakiacan help you incorporate a limited liability company in this country, or any other legal entity available here, for example a limited partnership.
A limited liability company can start its commercial activity only after registration with the Commercial Registry.
The video below shows you how to register a limited liability company in Slovakia:
What are the final steps of registering a SRO in Slovakia?
A S.R.O must apply for the income tax and the VAT with the competent tax authorities. Also the mandatory last steps for opening a S.R.O are registering all the employees with the Social Insurance Company and with the Health Insurance Company. Our specialists in company registration can help you complete all the steps required for the incorporation of a Slovak SRO. If you intend to start a business in this country, do not hesitate to contact our local experts.
Call us now at +420 721 565 868 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 an CorpexLab 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.