SETTING UP A BUSINESS IN SLOVAKIA

Slovakia offers entrepreneurs the right conditions for setting up and running an economic activity, such as: low taxation, simple registration procedures and freedom of real estate trade. 

Foreign entrepreneurs have the same rights to set up and run a business as Slovaks, unless some of the provisions e.g. international agreements provide otherwise.  Economic activity in Slovakia is mainly regulated by the four basic legal acts:  Commercial Companies Code (Zákon o obchodnom registri) of 2003, the Commercial Code (Zákonník Obchodný) 1991, the Commercial Register Law of 2004, the Act on Economic Activity (živnostenský zákon), 1991. In accordance with their provisions, pursuit of an economic activity by a foreign national means economic activity carried on by a foreign person's enterprise or an organisational entity (a branch) established on the territory of Slovakia. Foreign person acquires the right to conduct a business on the territory of Slovakia from the date of entry of the business or organisational unit to the Commercial Register.  Prior to the submission of the application for registration in the Commercial Register, each contribution of share capital should be made of at least 30 % of its value.  In some types of economic activity it is required to show a proof of adequate expertise, years of service and obtaining a licence.  An important condition is the possession of real estate or rental for company headquarters.

The Slovak Commercial Code lists the following forms of opening company in Slovakia by foreign entrepreneurs:

  • limited liability company 
  • joint-stock company 
  • registered partnership 
  • limited partnership 
  • a branch of a company

Slovak law provides for the existence of other forms, such as: silent partnership, cooperative and association. A very popular form among entrepreneurs is sole-tradership. While the most popular organisational-legal form among foreign investors is limited liability company and a branch.

As an entrepreneur from Poland you can temporarily provide services in Slovakia without the need to set up economic activity. More information on temporary, cross-border provision of services in the EU countries can be found here.

Useful links

Information on the establishment of economic activity in Slovakia can be found at the following links:

 

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