Starting a Business in Slovakia
Starting a business in Slovakia with Togetthere is a simple and fast process consisting of several key stages. We assist in choosing the optimal company structure, gathering the necessary documents, and registering your business in the shortest time possible. Our specialists have extensive experience supporting startups and industrial enterprises. With Togetthere, you can avoid bureaucratic hurdles and focus on growing your business. Contact us for a free consultation and take the first step towards establishing your business in Slovakia today!
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Why should you contact us?
Slovakia is becoming an increasingly attractive destination for entrepreneurs looking to start or expand their business. The country offers a winning combination of favorable conditions for establishing a business, a high standard of living, and many other advantages such as a business-friendly tax policy, access to the European market, and political and economic stability.
For working with other European Union countries, entrepreneurs do not require a local residence permit, but they can freely move around the Schengen zone if needed. Registering a new company in Slovakia involves inspections, obtaining permits and licenses, translating documents, and drafting contracts with a lawyer. This process can be complex and challenging, especially for those unfamiliar with local laws or who do not speak Slovak.
With extensive experience and a reputation for excellence, Togetthere has helped hundreds of clients bring their business vision to life in Slovakia. We offer professional and comprehensive support at every stage of the process, from evaluating the feasibility of registration and establishing a company with a professional team of lawyers and accountants to obtaining a residence permit and ongoing business management.
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Questions and Answers
Many individuals choose to move to Slovakia to start their own business. However, wanting to start a business isn’t enough—realizing your plans and dreams requires maximum effort or professional assistance from Togetthere. We help you start a business in Slovakia with minimal risks.
Business in Slovakia: Legal Structures
When setting up a business abroad, many people automatically choose an LLC, while others compare LLCs with sole proprietorships. However, the choice is not straightforward, as Slovakia offers five types of companies (commercial entities):
- General partnership (verejná obchodná spoločnosť);
- Limited partnership (komanditná spoločnosť);
- Limited liability company (spoločnosť s ručením obmedzeným);
- Simple joint-stock company (jednoduchá spoločnosť na akciе);
- Joint-stock company (akciová spoločnosť).
Additionally, cooperatives (družstvo), a specific type of legal entity in Slovakia, are not considered commercial entities.
It is also possible to operate a business in Slovakia without creating a legal entity. An individual can act as a sole proprietor or private entrepreneur.
Another option is establishing a branch (organizačná zložka) of a foreign company. In this case, a new Slovak legal entity is not created—only the branch is registered, and it does not have separate legal capacity.
A common question is whether to register a new company or purchase a ready-made one (ready-made company). Togetthere can assist with both options. Registering a new LLC takes about three weeks, while re-registering a ready-made company can be completed in as little as ten days. The director assumes their role immediately after signing the documents, without waiting for registry updates. Therefore, buying a ready-made company is especially beneficial when you need a company quickly.
A ready-made company is often already VAT-registered, which is advantageous for international trade. Registering a new company for VAT in Slovakia takes an additional 30-60 days, so purchasing a ready-made company saves about two months.
Starting a Business in Slovakia: Legal Restrictions
Before starting your business in Slovakia, it is important to carefully study the legal requirements and potential restrictions.
One key advantage of setting up a company in Slovakia is that the founder’s or owner’s nationality does not matter. Any individual or company from any country can register a legal entity in Slovakia and become its owner.
Registering a company or sole proprietorship is one basis for business immigration and obtaining a residence permit in Slovakia. In certain cases, a company can also serve as grounds for permanent residence. A residence permit for business purposes in Slovakia is issued to the executive body (e.g., a director in an LLC or a board member in a joint-stock company), not the owner (e.g., a founder or shareholder).
It is crucial to determine who will serve as the executive body (director) when registering or purchasing a company. According to Slovak law, a director can be a citizen of Slovakia, any EU member state, or an OECD member state (e.g., the USA, Canada, Turkey, or Israel) without needing a residence permit in Slovakia. Citizens of third countries (e.g., CIS countries) can only serve as directors if they have a Slovak residence permit.
Steps to Register a Business in Slovakia
To register a company or sole proprietorship in Slovakia, the process typically involves two stages: obtaining a business license (živnostenský list) and registering it with the commercial register.
After understanding the registration procedure, you will need to:
- Choose a company name;
- Select the founders;
- Appoint a director;
- Define the scope of activities;
- Provide a legal address.
Key Documents for Business Registration
To register a business in Slovakia, you will need:
- Articles of incorporation;
- Declaration of no outstanding debts in Slovakia;
- Declaration of owning no more than three companies in Slovakia;
- Proof of legal address;
- Ownership deed of the legal address;
- Residence permit;
- Criminal record certificate;
- Business registration form.
Why Choose Togetthere?
Togetthere provides:
- Efficiency: All tasks are completed promptly without compromising quality.
- Expertise: Our top-tier professionals have over three years of experience, capable of solving tasks of any complexity.
- Consultations: We answer all your questions about starting a business abroad.
- Comprehensive services: We handle everything from registration to handing over the final documents.
- Individual approach: We tailor solutions to meet each client’s unique needs.
- Competitive pricing: Our affordable rates make our services accessible to everyone.
Contact us today to start your business journey in Slovakia with ease and confidence!