Buy a Shelf Company in Slovakia
Buy a Shelf Company in SlovakiaUpdated on Wednesday 06th May 2020
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A shelf or ready-made company is a business which was established one or several years ago with the purpose of being sold.
Characteristics of shelf companies in Slovakia
Shelf companies can take various forms in Slovakia, however, the most employed one is the limited liability company which respects the requirements imposed by the Company Law. This means that the company will have a Certificate of Registration, tax identification, and VAT number and all financial accounts up to date.
It is possible for both local and foreign entrepreneurs to purchase shelf companies in Slovakia without additional requirements usually requested when setting up a new company. In fact, this is the greatest advantage of a shelf company: the time spent with the registration of the company no longer exists. This means the company is registered with the Trade Register and the tax authorities in the country is ready to complete commercial activities.
How to buy a ready-made company in Slovakia
Buying a shelf company in Slovakia implies choosing the right entity and signing a sale-purchase agreement with the seller. Foreign investors are advised to pay attention when buying such companies, which is why a due diligence procedure is recommended.
Our Slovak lawyers can help foreign entrepreneurs interested in buying a ready-made company with complete due diligence procedures. These will imply a thorough verification of the ready-made company with the Companies Register. Even if businessmen will be tempted to purchase such companies without verifying it, we strongly advise them to complete this process in order to enter the Slovak market in complete safety.
Once the verification is completed, the seller and the buyer can agree on the terms of the transaction and sign the sale-purchase agreement. This is will imply for the shares of the company to be passed to the new company owner. For this purpose, the company’s Articles of Association must be amended, and the modification must be announced to the Trade Register.
Other modifications can be brought to the purchased company. Among these are:
- - the company address can be altered, and it must also be recorded with the Trade Register;
- - the new owner can also change the management structure and appoint new company directors;
- - the share capital of the company can also be altered, and the modification must appear in the Articles of Association;
- - it is also possible to change the company name if the owner wants to.
Our law firm in Slovakia can help foreign investors interested in acquiring ready-made companies with tailored services which can include the verification and the changes which need to be brought to the business. Our lawyers can also give you details about the taxes in Slovakia and also help you comply with the fiscal system in this country.
Obtaining a trade license for a ready-made company
An important aspect to consider when purchasing a Slovak shelf company is related to applying for the necessary business licenses. This is because even if it was previously registered, the company is left without a business license in order for the buyer to apply for the licenses and permits which allow them to operate in the industry they want.
There are also cases in which shelf companies are registered for specific purposes, however, these are more expensive.
We can also advise on how to obtain the necessary business licenses for your Slovak shelf company.
What does a shelf company in Slovakia involve?
Other benefits of shelf companies in Slovakia
FAQ on ready-made companies in Slovakia
The purchase of a shelf company can raise a lot of questions, which is why our attorneys in Slovakia have answered some of the most frequently asked questions on this type of company.
1. Is it safe to buy a shelf company in Slovakia?
Yes, it is perfectly safe to buy such companies, as they can be easily verified with the Companies Register which will offer all the information about the chosen company.
2. Can I enter any type of activity through a Slovak shelf company?
Yes, you can, as long as you apply for the specific licenses for the industry you plan on working in.
3. Can I hire personnel if I have purchased a ready-made company?
There are no restrictions related to hiring as many employees as you want, including foreign workers.
4. Can I access loans through a shelf company?
Yes, shelf companies can help business people interested in making large investments for which loans are required.
5. How much does a Slovak shelf company cost?
The cost of a shelf company depends on several aspects, among which the age is one of the most important.