FAQUpdated on Wednesday 06th May 2020
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Our lawyers in Slovakia are often asked questions from foreigners moving to the country on various legal matters or setting up businesses or employment. Therefore, we have gathered some questions and answered them below.
1. What are the main legal requirements for foreign entrepreneurs who want to invest in Slovakia?
The first step in setting up a business in Slovakia is to choose a suitable name for the company and to draft the Memorandum and Articles of Association. Then they must be submitted with the appropriate authority in Slovakia.
2. What are the steps to be followed in business litigation cases in Slovakia?
Business litigation in Slovakia is regulated by the Slovak Commercial Code. A judge analyses the evidence submitted by each party and makes a decision. This is done after the defendant is served with the summons of the plaintiff. Our Slovak lawyers can represent clients before any type of Slovak Court.
3. How does debt collection work in Slovakia?
Debt collection procedures in Slovakia can be done by legal means or amicably. The main purpose is to reach a debt recovery solution. In case no agreement is reached between the parties involved in the process, the case will be taken on by the Commercial Court.
4. Do I need a visa for entering Slovakia? If so, how can I obtain it?
Foreign citizens of non-EU member states have to apply for a Schengen or a short-stay visa before entering Slovakia. The applications will be processed by the Consulate or the Slovak Embassy in your country. Our Slovak solicitors can advise you in any legal matters in Slovakia and offer you counsel through legal procedures.
5. What are the basic requirements with regard to employment in Slovakia?
There are certain work permits that nationals of non-EU countries must apply for, such as: the temporary work permit, the permanent labor permit etc.
6. How are companies and individuals taxed in the Slovak Republic?
The income tax that applies to companies in Slovakia is of 22%, while personal income tax for individuals is of 19%. Personal income tax is levied on all private persons. Our lawyers can give you tax advice and can also help you in the process of VAT registration in Slovakia.
7. What steps have to be followed in order to obtain Slovak citizenship?
In case you wish to obtain Slovak citizenship, you have to have resided in Slovakia for a period of minimum five years. A stable income source is also important in obtaining citizenship in Slovakia.
8. What are the main legal aspects in forming a company in Slovakia?
If you respect the requirements of the Slovak Commercial Code, there are no other special demands for foreign entrepreneurs who want to invest in Slovakia. The most commonly incorporated types of companies in the Slovak Republic are the limited liability company, the Slovak proprietorship and the joint stock company.
Feel free to contact our law firm in Slovakia for other questions and legal advice.