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
What benefits does having a VAT number?
- 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.
What is the benefit of a ready-made Slovak company?
- 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!
Types of Slovakian Companies
- 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.