Slovakia is a Central European country that offers numerous opportunities for starting and running a business. With a strategic location, a skilled workforce, and a business-friendly environment, it has become a hub for foreign investors and entrepreneurs looking to expand their operations. If you are interested in starting a business in Slovakia, this article will guide you through the process of registering your business.
Table of Contents
Step 1: Choose the Type of Business Entity
The first step in registering your business in Slovakia is to choose the type of business entity you want to set up. The most common types of business entities in Slovakia are:
- Limited Liability Company (s.r.o.)
- Joint Stock Company (a.s.)
- Sole Proprietorship (živnostnÃk)
Each type of entity has its advantages and disadvantages, so it is important to choose the one that best suits your business needs.
Step 2: Choose a Business Name
Once you have decided on the type of business entity, you need to choose a name for your business. The name should be unique and not already registered by another company in Slovakia. You can check the availability of your desired name on the Slovakian Ministry of Justice’s website.
Step 3: Prepare the Required Documents
To register your business in Slovakia, you need to prepare the following documents:
- Memorandum of Association (for limited liability and joint-stock companies)
- Articles of Association (for joint-stock companies)
- Trade License (for sole proprietorship)
- Registration form
The Memorandum of Association outlines the company’s name, registered office, share capital, and the names of the shareholders. The Articles of Association specify the company’s internal rules and regulations.
Step 4: Register Your Business
Once you have prepared all the necessary documents, you need to register your business with the Slovakian Trade Register. You can do this online or by visiting the nearest Business Register Office in person. You will need to pay a registration fee, which varies depending on the type of business entity.
Step 5: Register for Tax and Social Insurance
After registering your business, you need to register for tax and social insurance with the relevant authorities. This includes registering for VAT if your business turnover exceeds the threshold limit.
Step 6: Open a Bank Account
To operate your business in Slovakia, you will need to open a bank account in a Slovakian bank. This will allow you to receive and make payments, manage your finances, and comply with Slovakian accounting requirements.
Generis Global Can Help You Register Your Business in Slovakia
Registering a business in Slovakia can be a complex process, especially if you are not familiar with the country’s legal and regulatory framework. That’s where Generis Global can help. We offer expert advice and support to entrepreneurs and investors looking to start a business in Slovakia. Our team of experienced lawyers and consultants can assist you with every step of the registration process, from choosing the right business entity to registering for tax and social insurance. Contact us today to learn more about how we can help you with your business journey in Slovakia.