How to Perform a Company Registration in Slovakia?
Slovakia is a stable country in the heart of Europe that creates favorable conditions for foreign entrepreneurs. It has a transparent regulatory system and clear rules, which make the process of setting up a company convenient and predictable. For those seeking to enter the European Union market, it is the optimal solution.
Forms of Companies in Slovakia
A company can be registered in various legal forms, including limited liability companies, joint-stock corporations, partnerships, representative offices of foreign companies, and European companies. The most popular option for small and medium-sized businesses is s.r.o.
There are a wide range of areas in the country where a license isn’t required - about 180 in total. If the activity is subject to licensing, you will need to prove your qualifications: education, work experience, and fulfillment of special requirements that depend on the specific field.
Company Registration Process
Everything happens in stages. First, a consultation and analysis of future activities is conducted, then a name is chosen, and the necessary documents are prepared. After that, a corporate package and authorized capital are formed, and state fees are paid. A residence permit and work permit are issued for the director. It is followed by registration procedures, final formalities, and the transfer of original documents.
How is Reporting Carried Out?
When considering company registration in Slovakia, familiarize yourself with the reporting rules. Reporting is mandatory even if there is no activity. Large companies are audited if two of the following conditions are met:
- annual turnover exceeds EUR 2,000,000;
- the number of employees exceeds 30;
- assets are valued at more than EUR 1,000,000.
Foreign companies submit an Annual Return every year, which records information about management, shareholders, capital, and address. If there are no changes, the report confirms that the information is up-to-date. Obtaining a VAT number is mandatory for sales revenue exceeding EUR 62,500, which implies actual activity within the country. VAT payers are required to submit returns monthly by the 25th, with the tax period being quarterly.
