{"id":2913,"date":"2017-04-21T08:55:30","date_gmt":"2017-04-21T06:55:30","guid":{"rendered":"https:\/\/www.legalmondo.com\/?p=2913\/"},"modified":"2020-01-05T21:21:19","modified_gmt":"2020-01-05T20:21:19","slug":"setting-up-a-company-in-slovakia","status":"publish","type":"post","link":"https:\/\/www.legalmondo.com\/zh-hans\/2017\/04\/setting-up-a-company-in-slovakia\/","title":{"rendered":"Slovakia &#8211; Setting up a company"},"content":{"rendered":"<p>This post aims to examine schematically the three most common ways of enter in the market of Slovakia: Limited Liability Companies, a Joint Stock Companies, and Branch Offices.<\/p>\n<h2>Limited Liability Company<\/h2>\n<p><strong>Minimum registered capital<\/strong><\/p>\n<p>EUR 5,000 (in case of a sole shareholder the whole sum must be fully paid up at the incorporation)<\/p>\n<p><strong>Minimum reserve fund<\/strong><\/p>\n<ul>\n<li>optional establishment of the reserve fund at the incorporation<\/li>\n<li>sum equal to at least 5% of net profits has to be contributed to the reserve fund in the first year when profit is made (however not exceeding 10% of the registered capital) and in each subsequent year until the amount of the reserve fund equals to at least 10% of the registered capital<\/li>\n<\/ul>\n<p><strong>Minimum number of founders<\/strong><\/p>\n<p>1 (either individual or legal entity, cannot be a limited liability company having only one shareholder!)<\/p>\n<p><strong>Liability <\/strong><\/p>\n<ul>\n<li>unlimited liability of LLC<\/li>\n<li>liability of shareholders up to unpaid amount of their contributions to the registered capital<\/li>\n<\/ul>\n<p><strong>Representation Authority<\/strong><\/p>\n<p>at least one Managing Director<\/p>\n<p><strong>Required corporate bodies<\/strong><\/p>\n<p>General Meeting<\/p>\n<p><strong>Corporate income tax<\/strong><\/p>\n<p>22%<\/p>\n<p><strong>Audit<\/strong><\/p>\n<p>Required:<\/p>\n<ul>\n<li>if at least 2 of 3 conditions are met in decisive period (2 consecutive accounting periods): a) annual turnover exceeds EUR 2 million, b) amount of net assets exceeds EUR 1 million, c) average number of employees exceeds 30<\/li>\n<li>if company\u2019s securities are publicly traded, or in specific regulated businesses<\/li>\n<\/ul>\n<p><strong>Registration fees<\/strong><\/p>\n<p>EUR 300 in paper form and EUR 150 in electronic one (excluding notarial, translation, and legal services costs)<\/p>\n<p><strong>Timeframe for incorporation (including completion of registration)<\/strong><\/p>\n<p>approx. 3 weeks (after receiving all required documents from the founder; timeframe depends on the scope of business activities, in case of necessity of special license such time frame may be prolonged)<\/p>\n<p><strong>Process of registration<\/strong><\/p>\n<ol>\n<li>Drafting of required documents<\/li>\n<li>Tax Authority\u2019s consent to be obtained for Slovak residents to verify their taxpayers\u2019 history (not required for foreign shareholders)<\/li>\n<li>The share capital has to be paid<\/li>\n<li>Obtaining of chosen trade licenses<\/li>\n<li>Registration in the Commercial Register<\/li>\n<li>Registration as a taxpayer at the respective Tax Authority<\/li>\n<\/ol>\n<p><strong>Necessary documents (general)<\/strong><\/p>\n<ul>\n<li>Foundation Memorandum\/Memorandum of Association<\/li>\n<li>Declaration of the share capital administrator or bank statement<\/li>\n<li>Agreement on performance of function of Managing Director \u2013 not mandatory but recommended<\/li>\n<li>Necessary trade licenses<\/li>\n<li>Tax Authority consent (if applicable)<\/li>\n<li>Payment of the court fee<\/li>\n<li>Power of Attorney<\/li>\n<li>Specimen signature of Managing Director\/s<\/li>\n<li>Right for using of a legal address<\/li>\n<li>Extract\/s from criminal record<\/li>\n<\/ul>\n<p><em>Note: Some of the documents have to be notarised. Other documents may be required in particular cases.<\/em><\/p>\n<h2>Joint Stock Company<\/h2>\n<p><strong>Minimum registered capital<\/strong><\/p>\n<p>EUR 25,000 (at least 30% of cash contributions must be fully paid up at the incorporation)<\/p>\n<p><strong>Minimum reserve fund<\/strong><\/p>\n<ul>\n<li>obligatory establishment of the reserve fund at the incorporation,<\/li>\n<li>sum equal to 10% of registered capital,<\/li>\n<li>sum equal to at least 10% of net profits has to be contributed to the reserve fund every year until the amount of the reserve fond equals to at least 20% of the registered capital<\/li>\n<\/ul>\n<p><strong>Minimum number of founders<\/strong><\/p>\n<p>1 (must be a legal entity)<\/p>\n<p><strong>Liability <\/strong><\/p>\n<ul>\n<li>unlimited liability of JSC<\/li>\n<li>no liability of shareholders (limited to the\u00a0nominal value\u00a0of its shares)<\/li>\n<\/ul>\n<p><strong>Representation Authority<\/strong><\/p>\n<p>Board of Directors (consisting of at least 1 member)<\/p>\n<p><strong>Required corporate bodies<\/strong><\/p>\n<ul>\n<li>General Assembly of shareholders<\/li>\n<li>Supervisory Board (3 members at minimum)<\/li>\n<\/ul>\n<p><strong>Corporate income tax<\/strong><\/p>\n<p>22%<\/p>\n<p><strong>Audit<\/strong><\/p>\n<p>Required:<\/p>\n<ul>\n<li>if at least 2 of 3 conditions are met in decisive period (2 consecutive accounting periods): a) annual turnover exceeds EUR 2 million, b) amount of net assets exceeds EUR 1 million, c) average number of employees exceeds 30<\/li>\n<li>if company\u2019s securities are publicly traded, or in specific regulated businesses, e.g. in the financial sector<\/li>\n<\/ul>\n<p><strong>Registration fees<\/strong><\/p>\n<p>EUR 750 in paper form and EUR 375 in electronic one (excluding notarial, translation, costs of legal services)<\/p>\n<p><strong>Timeframe for incorporation (including completion of registration)<\/strong><\/p>\n<p>approx. 3 weeks (after receiving all required documents from the founder; time frame depends on the scope of business activities, in case of necessity of special license issuance (such as concession license) such time frame may be prolonged)<\/p>\n<p><strong>Process of registration<\/strong><\/p>\n<ol>\n<li>Foundation Deed, Articles of Association, and other documents should be drafted in the form of a notarial deed<\/li>\n<li>Tax Authority\u2019s consent (the same rule as for LLC)<\/li>\n<li>Necessary trade licenses have to be obtained at responsible state authority<\/li>\n<li>Paying up of the share capital and reserve fund<\/li>\n<li>Registration in the Commercial Register<\/li>\n<li>Registration at the Tax Authority<\/li>\n<\/ol>\n<p><em>Note: The process above is a simplified summary.<\/em><\/p>\n<p><strong>Necessary documents (general)<\/strong><\/p>\n<ul>\n<li>Foundation Deed, Articles of Association in the form of notarial deed<\/li>\n<li>Trade licenses<\/li>\n<li>Agreements on performance of function of Board Members<\/li>\n<li>Permission to use legal address<\/li>\n<li>Declaration of the share capital administrator and bank statement<\/li>\n<li>Tax Authority consent (if applicable)<\/li>\n<li>Specimen signature of the Chairman of the Board and other Members of the Board of Directors<\/li>\n<li>Payment of the court fee<\/li>\n<li>Power of Attorney<\/li>\n<li>Extract\/s from criminal record of the Chairman of the Board and other Members of the Board of Directors<\/li>\n<\/ul>\n<p><em>Note: Some of the documents have to be notarised. Other documents may be required in particular cases.<\/em><\/p>\n<h2>Branch Office<\/h2>\n<p><strong>Minimum registered capital<\/strong><\/p>\n<p>N\/A<\/p>\n<p><strong>Minimum reserve fund<\/strong><\/p>\n<p>N\/A<\/p>\n<p><strong>Minimum number of founders<\/strong><\/p>\n<p>N\/A<\/p>\n<p><strong>Liability <\/strong><\/p>\n<p>unlimited liability of the founder (i.e. the parent company of which the branch forms a part)<\/p>\n<p><strong>Representation Authority<\/strong><\/p>\n<p>Branch Manager, in addition to the statutory representatives of the founder<\/p>\n<p><strong>Other required corporate bodies<\/strong><\/p>\n<p>N\/A<\/p>\n<p><strong>Corporate income tax<\/strong><\/p>\n<p>22%<\/p>\n<p><strong>Audit<\/strong><\/p>\n<p>N\/A<\/p>\n<p><strong>Registration fees<\/strong><\/p>\n<p>EUR 300 in paper form and EUR 150 in electronic one (excluding notarial, translation, and legal services costs)<\/p>\n<p><strong>Timeframe for incorporation (including completion of registration)<\/strong><\/p>\n<p>approx. 3 weeks (after receiving all required documents from the founder; time frame depends on the scope of business activities, in case of necessity of special license issuance (such as concession license) such time frame may be prolonged)<\/p>\n<p><strong>Process of registration<\/strong><\/p>\n<ol>\n<li>Decision of the parent company on establishment a Branch Office in Slovakia<\/li>\n<li>Obtaining of chosen trade licenses<\/li>\n<li>Registration in the Commercial Register<\/li>\n<li>Registration at the Tax Authority<\/li>\n<\/ol>\n<p><strong>Necessary documents (general)<\/strong><\/p>\n<ul>\n<li>Decision of the parent company on establishment a Branch Office in Slovakia<\/li>\n<li>Foundation Documents of the parent company<\/li>\n<li>Parent company\u2019s extract from relevant register in home jurisdiction<\/li>\n<li>Trade licenses<\/li>\n<li>Permission to use legal address of the Branch Office<\/li>\n<li>Extract\/s from criminal record for the appointed Manager of the Branch Office<\/li>\n<\/ul>\n<p><em>Note: Some of the documents have to be notarised. Other documents may be required in particular cases.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post aims to examine schematically the three most  [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":5863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[204],"tags":[925],"class_list":["post-2913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","tag-slovakia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/posts\/2913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=2913"}],"version-history":[{"count":4,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/posts\/2913\/revisions"}],"predecessor-version":[{"id":3144,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/posts\/2913\/revisions\/3144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/media\/5863"}],"wp:attachment":[{"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=2913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=2913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalmondo.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=2913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}