Slovakia - Establishing an OfficeSlovakia - Establishing an Office
Includes steps involved in establishing a local office.
The Slovak Commercial Code provides for the establishment of branch offices, joint stock companies, simple joint stock companies, limited liability companies (LLCs), limited or unlimited partnerships, cooperatives, silent partnerships, and associations. All companies must register their names with the Slovak Commercial Register. The following procedures and documents are required for company registration:
(a) Lease contract for premises, or any approval of the owner of the premises.
(b) Approval of the office/company's location by local authorities.
(c) Depositing a minimum share capital of EUR 5,000 (approximately USD 5,650) in a bank account by one or more shareholders.
(d) Trade authorization from the local trade authority.
(e) Satisfaction of minimum capital requirements is required. (This does not apply to the OECD Member states and EU citizens.)
The most common option for foreign companies is the limited liability company (LLC). It is the simplest to establish, permits 100% foreign ownership, and allows full repatriation of after-tax profits.
The following rules apply to Limited Liability Companies in Slovakia:
(a) Between 1 and 50 shareholders may form a limited liability company, and the total basic capital must be at least EUR 5,000 (USD 5,649) with a minimum participant deposit of EUR 750 ( approximately USD 850) each.
(b) A supervisory board is not required but may be established.
(c) An official appraiser must value non-monetary contributions, and for certain contributions, two appraisers are required.
A Simple Joint Stock Company is tailored for start-ups because it allows easy entry and exit of potential investors into and out of the company. A Simple Joint Stock Company has less strict incorporation and winding up rules; it can be founded with minimum registered capital of EUR 1 and exit possibilities well recognized under common law, such as drag along, tag along and shootout rights.
The forms for local office registration and all steps involved in establishing a local office are available on the Slovak Ministry of Justice’s website.
The process of registering a company with the Slovak Commercial Register takes approximately five days. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
The Slovak Commercial Code provides for the establishment of branch offices, joint stock companies, simple joint stock companies, limited liability companies (LLCs), limited or unlimited partnerships, cooperatives, silent partnerships, and associations. All companies must register their names with the Slovak Commercial Register. The following procedures and documents are required for company registration:
(a) Lease contract for premises, or any approval of the owner of the premises.
(b) Approval of the office/company's location by local authorities.
(c) Depositing a minimum share capital of EUR 5,000 (approximately USD 5,650) in a bank account by one or more shareholders.
(d) Trade authorization from the local trade authority.
(e) Satisfaction of minimum capital requirements is required. (This does not apply to the OECD Member states and EU citizens.)
The most common option for foreign companies is the limited liability company (LLC). It is the simplest to establish, permits 100% foreign ownership, and allows full repatriation of after-tax profits.
The following rules apply to Limited Liability Companies in Slovakia:
(a) Between 1 and 50 shareholders may form a limited liability company, and the total basic capital must be at least EUR 5,000 (USD 5,649) with a minimum participant deposit of EUR 750 ( approximately USD 850) each.
(b) A supervisory board is not required but may be established.
(c) An official appraiser must value non-monetary contributions, and for certain contributions, two appraisers are required.
A Simple Joint Stock Company is tailored for start-ups because it allows easy entry and exit of potential investors into and out of the company. A Simple Joint Stock Company has less strict incorporation and winding up rules; it can be founded with minimum registered capital of EUR 1 and exit possibilities well recognized under common law, such as drag along, tag along and shootout rights.
The forms for local office registration and all steps involved in establishing a local office are available on the Slovak Ministry of Justice’s website.
The process of registering a company with the Slovak Commercial Register takes approximately five days. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.