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Open a Consulting Company in Slovakia

Open a Consulting Company in Slovakia

Updated on Wednesday 06th May 2020

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Open-a-Consulting-Company-in-SlovakiaStarting a business in Slovakia is not complicated, even when being established by a foreign entrepreneur. The national legislation allows foreign entrepreneurs to open various types of companies in numerous industries without special requirements. As a matter of fact, a foreigner does not even need to obtain a Slovak residence permit when setting up a business here.

Among the types of activities which can be successfully undertaken in Slovakia are those related to offering consulting services. Opening a consulting company in Slovakia is not hard or stringent from a business licensing point of view.

Our lawyers in Slovakia can help foreign investors in registering a consulting firm in this country. Foreign entrepreneurs can rely on us for other legal services in Slovakia.

Choosing a business form for a consulting firm in Slovakia

Both local and foreign investors can set up the same types of business forms, according to the Slovak Companies Law. When it comes to establishing a consulting company, there are several aspects which need to be considered, among which:

  • -          consulting companies can be set up as small or medium-sized businesses;
  • -          for small businesses, the Slovak sole proprietorship is more appropriate;
  • -          the limited liability company is more suitable for medium-sized enterprises;
  • -          in certain cases, the partnership can be a good solution for a consulting firm;
  • -          each type of company requires various sets of documents to be prepared.

 

If you plan on opening a consulting company in Slovakia and need assistance in selecting the right type of structure, our local lawyers can explain the best way to go about it. We can also help with the incorporation of the chosen structure.

How to register a consulting company in Slovakia

The establishment of a consulting firm does not imply a specific procedure, as it must follow the same business registration steps as in any other industry. These steps are:

  • -          once the business form is selected, the incorporation papers must be drafted and notarized;
  • -          the consulting company must then be registered with the Slovak Companies Register;
  • -          the business must also register for taxation, VAT and social security purposes;
  • -          the licenses which need to be obtained by such a business depend on the services to be provided.

 

It is useful to know that most of the times, opening a consulting company in Slovakia implies being certified in a specific domain and registering with professional associations and organizations. Our Slovak lawyers can assist with the incorporation of a consulting firm with the Trade Register. In the case of foreign investors, the procedure can be completed remotely through a power of attorney.

Types of consulting services which can be offered in Slovakia

When it comes to opening a consulting business in Slovakia it is very important to address a segment of clients who need such services. The consulting sector in Slovakia has developed a lot in the last few years and many local and foreign citizens relocating here search consulting in the following domains:

  • -          accounting;
  • -          accessing EU funds;
  • -          traditional and online marketing;
  • -          information technology;
  • -          financing;
  • -          financial technology;
  • -          advertising.

 

There are various niches a consultant can advise on, as Slovakia is one of EU’s important economies and it attracts a great number of investors every year. Foreign citizens coming here usually request the services offered by professionals in the fields mentioned above, but in other domains also.

If you plan on starting a consulting company in Slovakia, you can also complete various courses which offer you a diploma in one of the most sought business fields.

Another important aspect to consider when setting up a consulting firm in Slovakia is related to the promotion of the company. A well-designed website can help with the promotion of a consulting company.

Why open a consulting business in Slovakia?

Slovakia is not a very large, but a very prolific country which is why there are many industries in which a consulting firm can operate in. Also, the minimum share capital to start a business, including a consulting firm in Slovakia, is 5,000 euros for a limited liability company. There is no requirement to have a local shareholder or director in the company which offers great flexibility and full control over the company.

The registration procedure of a company in Slovakia is also fast and easy and with the help of our Slovak law firm, it can be completed in a matter of days. So, if you decide to start a consulting company in Slovakia, do not hesitate to contact us. We can also assist with opening businesses in other fields of interests for foreign investors.