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BUSINESS REGISTRATION AND

SUPPORT IN SLOVAKIA

The Slovak Republic is quite attractive for immigration among European countries. The most common way to immigrate is to open a business in Slovakia. The advantage of migration in SLOVAKIA is the possibility of obtaining a residence permit with the right to official employment. Living in such a beautiful country opens up good prospects for career growth.

Advantages of the Slovak Republic

• economic and political stability, reputation;
• convenient geographical location;
• favorable legislation, when opening a company, gives the opportunity to issue a residence permit;
• obtaining a tax residency certificate;
• it is possible to obtain the status of a VAT payer voluntarily;
• existence of agreements on avoidance of double taxation;
• is not included in the Ukrainian list of jurisdictions subject to transfer pricing rules;
• it does not matter which country the founder is a resident of, or a legal entity from any country, including offshore jurisdictions;
• investing in Slovakia’s economy, a foreign businessman can count on investment incentives and various benefits.
• having a business in Slovakia, an entrepreneur can work in the markets of other EU countries, as well as open branches and offer his product under the European brand.
• goods / services can move freely from one country to another;
• by opening a company in Slovakia, you will get rid of customs fees and high customs duties;
• Slovak taxation is convenient for a private entrepreneur;
• due to the registration of the company in Slovakia, beneficial banking programs are provided to entrepreneurs.
• quick receipt of a residence permit after opening your company in Slovakia;

Slovakia ranks first as the best country for international trade and fifth in terms of simple procedures for registering business ownership. Slovakia is a world leader in the field of international trade (No. 1 according to this indicator in the Doing Business-2016 rating, which is compiled annually by the World Bank), here are some of the best conditions for registering property (No. 5 in Doing Business-2016). According to the integrated indicator “ease of doing business”, the country was in 29th place out of 189 participants of Doing Business-2016. It is interesting that over the last year in Slovakia, the conditions for registering enterprises have improved, and in the field of taxation, the country has risen by 36 positions.

Separate business options:

• register as an individual entrepreneur: individual or private entrepreneur.
• Registration of a cooperative (družstvo), which is not a commercial organization;
• Opening of a representative office of a foreign company.
• Buying a finished business.

Slovakia has created favorable conditions for investors, and today it is one of the most attractive jurisdictions for establishing export-import operations with the European Union, international corporate and tax structuring, as well as for business emigration. The location of Slovakia with its direct access to many European countries is especially attractive.

OPENING A BANK ACCOUNT IN SLOVAKIA

BANK ACCOUNT OPENING PROCEDURE

There are no legal restrictions regulating or prohibiting the opening of a current account for foreigners in Slovakia.

In general, opening a bank account in Slovakia follows the same general rules as in other European countries.

What documents are required to open an account

A local resident or a foreigner can open an account in a Slovakian bank if he has:

A passport or residence permit of one of the EU countries or a passport of a non-EU country and a residence permit confirming permanent residence in the Slovak Republic. This means that any person living in another EU country can open an account. Some banks in Slovakia simply do not provide services for non-resident companies. It is always better to negotiate with each bank separately and take into account their conditions. Some banks require confirmation of the client’s actual residential address, offer to fill out a special questionnaire or put forward other minor additional requirements.

In the case of a corporate account, a set of founding and registration documents, as well as beneficiary details, must be provided.

Before opening an account in the bank you have chosen, it is recommended to check the list of documents required for submission on the official website.

To register your own LLC in Slovakia, you need to open an account with an initial deposit of at least 5,000 euros. In addition, 15,000 euros or more must be contributed to the development of the enterprise. This money can be withdrawn from the account if the founder receives a residence permit. If in the future you plan to continue the GNP, you must take into account that after paying taxes, there should be at least 12,000 euros of net annual profit left in the account.

Slovakia does not conduct currency control. Local banks are looking for opportunities to attract new capital and develop the market, so they offer benefits to foreigners.

In order to open an account, there are banks where personal presence is required to open an account, and in some banks it is possible to open an account with a notarial power of attorney.

Migration lawyer in Slovakia – JK “Prykhodko and Partners” Your reliable partner.