What are the types of legal entities I can register in Slovakia?
When a single individualopens a businesswith no capital and the whole liability for the profits and debts is owned by him/her, the business is registered as a sole proprietorship (zivnostnik).
When at least 5000 EUR are available, the founder can open a limited liability company in Slovakia (Spolocnost s rucenim obmedzenym). It’s a form of business intended mostly for small and medium-sized companies. The number of shareholders cannot exceed 50 and the their liability is limited by the contribution to the capital. The general meeting of the shareholders, which is the supreme authority in the company, will appoint an Executive which is responsible for the daily decisions. If the capital is higher, a Supervisory board can also be appointed in order to watch the director’s activity and report it to the general meetings.
The Joint Stock Company in Slovakia-Akciová spoločnosť is a type of company designed for a large type of business which can provide the minimum share capital of 25,000 Euro divided into stocks. The Public joint stock company in Slovakia can list a part of its stocks at the stock market from the European Economic Area. This way the stocks are freely transferable which leads to an increase of the share capital. Unlike the private limited liability companies, the joint stock companies must have a reserve fund which consists in 10% of the joint stock company’s capital. The daily management of the joint stock company is assured by the board of directors and the supervisory board appointed by the general meeting of the shareholders. The Supervisory Board must be formed by at least three members while the number of Directors can be decided in the Articles of Incorporation.
In a Slovak General Partnership (verejná obchodná spoločnosť) the partners are equally liable for the company’s debts even with their own personal assets. All the decisions are equally taken by the partners, unless it’s stipulated differently in the partnership agreement.
A limited partnership-komanditná spoločnosťin Slovakia is formed by at least two members called general partners and the silent partners. The silent partners must make a contribution to the legal entity’s capital of at least 250 Euro and their liability is based on this contribution. The general partners are not required to make any initial contribution and have unlimited liability and decisional power but their assets are not protected in case of liquidation.
What are the steps for company incorporation in Slovakia?
At the beginning of the incorporation procedure, the name chosen for your company is checked for uniqueness and a certificate must be issued with the reserved name.
The notarized articles of association and related documents along with the certificate of name reservation must be deposited at the One stop shop for trade licenses, income tax registration and health insurance company.
After that, the share capital must be deposited in a bank account and along with the trade licenses, the certificate of bank deposit must be delivered to the District Court for registration which will deliver the information to the County Registry Court. Then, this authority will state it in the Commercial Register entry no later than 5 working days from receiving the completed registration form and its supporting documents. As a result the company will receive a business identification number. For more details about the company formation procedure or for complete guidance, please contact our law firm in Slovakia.
What documents are required for the incorporation of a company in Slovakia?
Some of the documents required for the registration of a company in Slovakia are the following:
- notarized articles of association;
- the proof of payment of the registration fee;
- the bank deposit certificate and the proof of unique name.
Ourlawyers in Slovakiacan inform you upon the entire list of necessary documents and can submit them with the responsible authority.
How quickly can I incorporate my company in Slovakia?
If all the documents are properly submitted, the newly formed company in Slovakia can begin the trading activity in about two weeks.
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