Founding a company in Slovakia
- There is a relatively simple tax and reporting system in Slovakia
- 19% personal income tax
- 21% corporate income tax
- 20% VAT
- 7% tax on dividends
- In some cases, capital losses can be deducted or carried forward
- Bi-lateral Agreements on Double Taxation Avoidance
- Slovakia is an EU member state and uses Euro currency
- Low starting capital which does not need to be deposited
- Cost-effective setup and maintenance of the company
- Strategic geographical location - The central location makes Slovakia an ideal country for imports and exports across the continent
- Non-citizens can legally establish a business within Slovakia
- Easy visa and residency options for all nationalities
- Increasing labor productivity: 77% of Slovakia's citizens possessing an upper-secondary degree in a wide array of specialties
- Fuel is a tax-deductible expense
- Business Vehicle Depreciation Deduction is 0,18 € / km.
- In 2020 the minimum wage is 580€ in Slovakia, minimum 2,989€ hourly
- Many suppliers and organizations are unwilling to do business with companies that aren’t VAT registered.
- Your limited Slovak company can charge VAT on the goods and services it sells.
- Your Slovak company with VAT number can reclaim VAT paid on goods and services bought from other businesses.
- VAT registration can make your company appear larger and more established.
- First and foremost, you save time and don't need to wait 3-4 weeks to establish your new business.
- Your ready-made Slovak company will have a Tax certificate.
- Your ready-made Slovak company will not have any tax obligation.
- You can start doing business immediately!
- Slovakian Limited Liability Company (LLC) - S.R.O. (spoločnosť s ručením obmedzeným)
- Slovakian Limited Partnership – K.S (komanditná spoločnosť)
- Slovakian General Partnership – V.O.S. (verejná obchodná spoločnosť)
- Slovakian Sole Proprietorship – (živnostník)
- Joint Stock Company (JSC) – A.S. (akciová spoločnosť)
- Scanned ID card, or passport of the founder(s) and the executive(s) - can be the same person.
- Clean criminal record certificate of the executive(s) not older than 3 months.
- If the founder is a legal entity: Certificate from the Commercial Register not older than 3 months.
- Name of the new company - must be a unique name, needs to be verified on www.orsr.sk
- Registered address of the new company – lease agreement and certificate of ownership (title deed).
- List of planned activities based on which we will be issuing the Trade license
- Minimal capital of 5000€ - it is enough to provide an official statement, does not need to be deposited
- The founder and executive doesn't have to be Slovak citizen(s).
- If there is only a single founder an official statement is required stating the founder is not owning more than 3 other single owned Slovak companies
- Initial consultation - we will analyze your needs and requirements - can be done in person, through phone or email.
- Collecting the required documents and information, preparation of complete documentation for setting up your Slovak company including the company's Articles of Association.
- If you require a virtual registered office, we will prepare the Lease Agreement.
- Verification of signature(s) at a Notary Public (2x).
- Verification of the official statement about the shareholder´s contribution (3x).
- Applying for trade licenses at Trade Licensing Office, application to the Commercial Register and to the Tax Office.
- Setting up a bank account for your company in Slovakia
- Once the company has been incorporated, we will send you an original extract from the Commercial Register and the complete documentation.
- The complete process typically takes up to 20 business days.
The activation is obligatory for legal entities and registered branches of legal entities. Public authorities will not send any documents in paper form, these will be delivered into the company's special electronic mailbox.
In order to access into the electronic mailbox established according to the Act No. 305/2013 Coll. on e-Government, an owner of the electronic mailbox needs:
A foreign person cannot obtain an eID card since it is bound to being a citizen of the Slovak Republic. If a legal entity has a foreign statutory representative, in order to have a full access to its electronic mailbox, he must authorize (entitle) a natural person – citizen of the Slovak Republic, with an eID card, to have a full access to its electronic mailbox.
You can find more information about Electronic Mailboxes on the following: link.Access to electronic Electronic MailBoxes is ensured via Central Government Portal www.slovensko.sk.
If the director of your Slovak company is a foreigner without residence in Slovakia, we are here to help you with ensuring access to the Electronic Mailbox under power of attorney.