Slovakia is a small mountainous Central European country with a rich history, possessing a strong industry, developed agriculture and rich traditions of the tourism industry.
The Slovak government, having chosen a course of reforms in the direction of attracting foreign investment, has simplified the registration and conduct of entrepreneurial business within its borders.
Doing business in this country requires on average lower costs than in other EU countries. In addition, registering an enterprise in the Slovak Republic is a relatively easy process, with the requirement to adapt oneself to some of local features.
Slovakia offers a favorable tax regime for the company’s activities, especially when conducting foreign trade operations with EU countries.
The most popular and attractive form of legal entity in Slovakia is the Limited Liability Company (s.r.o.).
Key Features of S.R.O.:
- A resident of Slovakia or an EU citizen can register a legal entity in Slovakia and become its owner.
- The director can be a citizen of the EU countries.
- Registration address is possible only on the territory of Slovakia.
- The minimum authorized capital of the company is 5,000 EUR. In order to establish a company, it is necessary to pay at least 50%, that is, 2,500 EUR;
Corporate income tax in Slovakia:
There are two corporate income tax rates in Slovakia: 21% and 15%.
21% is the base income tax rate; 15% is the income tax rate for small businesses (annual turnover up to 100,000 EUR).
VAT in Slovakia:
VAT in Slovakia operates at rates of 20%, 10% and 0%. At a rate of 20% in Slovakia, most goods and services are subject to VAT. A reduced rate of 10% applies to certain medical and agricultural supplies. Furthermore, some services in the financial and insurance sector are completely exempt from VAT.
In order to obtain a VAT number, a Slovak company must show a certain incoming turnover, but is obliged to request a VAT number for a lump sum received from an international sale in the amount of 50.000 EUR. Therefore, in the case of newly registered companies, we initially provide an A7 class tax number, through which it is possible to process transactions with incoming payments.
Our licensed lawyers provide registration of legal entities of any ownership form and amount of capital.
We make registration both locally and remotely with a visit to the Consulate of Slovakia in the country of residence of the Client.
Company Formation timing:
– local registration – 10-15 business days, including bank account opening (first visit for a period of 1-2 working days, then 2nd visit upon registration, for bank account opening purpose)
– remote registration – 15-20 business days.
Using the according license, we provide the option of long-term provision of legal addresses in locations controlled by our group.
We process all incoming correspondence on behalf of your company and send scanned copies with brief translations of the content to your contact’s email address!
You can accept original documents as you visit our local office.
By partnering with market-leading financial and payment institutions, typically ranked top 5 by jurisdiction in their sectors, we will provide a stable infrastructure for your company in terms of execution and receipt of funds.
To determine the options for banking and financial institutions available in a particular jurisdiction, as well as to clarify the costs, timing and necessary preparatory work, contact our banking experts for a free consultation!
With the participation of our qualified, licensed accountants, our specialists propose the most suitable package of services for your needs, focused on the document flow, type of activity, and region of activity of your company.
This service is under development.