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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, a bank account in Slovakia is opened according to 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 Slovak 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 have other insignificant additional requirements.
If it is a corporate account, it is necessary to provide a set of founding and registration documents, as well as the data of the beneficiary.
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 payment of at least 5,000 euros. In addition to this, 15,000 euros or more must be invested in 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 This money can be withdrawn from the account if the founder receives a residence permit.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 GDP, you need to take into account that after paying taxes, at least 12,000 euros of net annual profit should remain in the account.
Slovakia does not carry out currency control. Local banks are looking for opportunities to attract new capital and develop the market, so they offer benefits to foreigners.
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.
Is it possible to open an account in Slovakia online?
Due to the development of modern technologies, it is not necessary to go to a bank branch to open an account. For example, on the website of the ČSOB bank, it is indicated that it is possible to open a bank account online (the so-called smart account). To do this, you need to enter your data, upload a photo and the necessary documents (including a Slovak passport or residence permit).
How to open a bank account in Slovakia for Ukrainian refugees?
The easiest solution is online banks, financial technology companies and banking applications such as Wise, Revolut, bung, Monese and Incharge, which allow you to open a bank account online for free. These accounts can be used in Europe, like any other bank accounts. But opening them is easier and free.
Advantages of opening a bank account in Slovakia:
- Slovak banks are considered one of the most innovative in Europe, they consist of both independent local financial institutions and branches of well-known foreign banks;
- Slovakia was the second country in the world to abandon the magnetic stripe on payment cards, switching to the use of microchips
- offers modern Internet banking, which has a multilingual desktop and mobile version
- SMS payment confirmation systems are used (it does not matter in which country the phone number is registered).
- most of the country’s banks in one way or another are connected to large international networks, which reduces the risk of bankruptcy of individual institutions;
- the political situation in the country practically does not affect the stability of the banking sector;
- the deposit guarantee system applies to deposits up to 100 thousand euro and protects the interests of both local citizens and non-residents.
Banks for opening an account in Slovakia:
- mBank
- Fio banka
- ČSOB
- TATRA Bank
- VÚB
- UniCredit
Help in opening a bank account in Poland includes
legal advice on the procedure for opening a current account, conditions for opening an account, bank fees, escorting to the bank, assistance in choosing a bank; preparation and submission of documents to the bank, representation of the customer’s interests (by proxy); legal support when concluding a bank service agreement; and other services in the banking sector
Opening and maintenance of an account in a Slovak bank – this is one of the main activities of our lawyers and economists. Sign up for a consultation and make sure of the professionalism.
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How long does company registration take?
Registration as a sole proprietor (živnosť) usually takes up to 4 business days. Registration of a full limited liability company (s.r.o.) takes 7–10 days from the date all required powers of attorney are signed.
Can I open a company remotely without travelling to Slovakia?
Yes, the registration of a company or sole proprietorship can be completed entirely remotely on the basis of a notarised power of attorney. However, your personal visit will be required to submit biometric data for a residence permit to the immigration police, as well as for final identification at certain Slovak banks.
What taxes will I pay as a small business?
In 2026, legal entities with annual income of up to EUR 100,000 are subject to a reduced corporate income tax rate of 10%. If you operate as a sole proprietor, the system allows the deduction of so-called “flat-rate expenses” (a fixed percentage of expenses without supporting documents), which makes the tax burden minimal.
When is a company required to register for VAT?
Mandatory VAT registration arises if your company’s turnover in Slovakia over the last 12 months exceeds the threshold of EUR 50,000. It is also possible to register for VAT voluntarily at the launch stage if this is necessary for working with your European counterparties.
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What documents are required to open an account

