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Open a Bank Account in Slovakia

Open a Bank Account in Slovakia

Updated on Friday 03rd November 2017

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Open a Bank Account in SlovakiaThere are no general restrictions for a foreign or local investor to open a bank account in Slovakia. The Banking Law in Slovakia regulates the account opening procedure, the bank`s obligations, the ways to identify a client and the final beneficiary of an account. Since every bank has different approach and requirements, it is advisable to turn to the services of a law firm in Slovakia if you want to set up a bank account.


How to open a bank account in Slovakia?



The first step to be taken when opening a bank account in Slovakia is to choose a suitable bank for the needs of your business. There are several documents that a Slovak company must submit to a bank in order to have a bank account open. These are the following:


•    A proof that the company is registered in Slovakia – the certificate of registration from the Commercial Register is the document you need;
•    The company`s tax number -  it can be obtained from the Slovak tax authorities;
•   The identification documents of the company's representatives – the company`s director or shareholders must provide a proof of identification to the bank officials.


The banking system in Slovakia grants special benefits to companies interested in setting up a bank account. These include among others: internet banking, transfer services to other countries and accepting checks from international locations. Usually, the Slovak banks allow you to use any cash machine and they issue visa cards with no extra charges when used in Europe. Any further information about the legal procedures involved in opening a corporate bank account can be offered by our attorneys in Slovakia.  


The advantages of a Slovak bank account



Accessing finances and maintaining a cash flow are the prerequisites of any business in Slovakia. The banking system provides Slovak companies interested in opening a bank account with several advantages. These include the following:


•    High technologies in bank operations;
•    One of the highest markets in the world in terms of contactless cards;
•   Bank accounts can be opened in a lot of currencies, besides Euro – CZK, HUF, PLN, British pound, Japanese Yen, Swiss Franc and others;
•    The possibility to transfer funds not only in the currency of the bank account, but also in many other currencies;
•    Very low interests on deposit accounts.
•    An easy management of the employees` salaries and retirement funds.


Please feel free to contact our lawyers in Slovakia if you want to benefit from these advantages of having a bank account.

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