Open a company in Slovakia

Positive Invest offers everyone the services of opening an offshore company in Slovakia, a small state located in Central Europe.

Buying a company in Slovakia: general information 

Until recently, Slovakia was part of a single state - Czechoslovakia. At the moment, no more than 5.5 million people live in the country. Laws are adopted by a unicameral parliament - the National Council. Representative functions are performed by the President. Executive power is represented by the Prime Minister and the Government.

Documentation is in Slovak. Domestic settlements assume the use of EURO. The country is a member of the EU. The main sources of income are tourism, the production of medicines, the opening of offshore zones. Slovakia keeps inflation low.

Registration of a company in Slovakia: basic provisions

It is possible to open a limited liability company (SRO type) in the country. Most offshore companies are opened with this type of liability. Less common are full and limited partnerships and joint-stock companies.

When opening a company in Slovakia, you should be aware that subsidiaries cannot independently choose the form of taxation and type of ownership.

Documents required for company registration

You can open an offshore in Slovakia if you have the following documents:

• the decision of the owners on the establishment of the company, the memorandum of association and the Articles of Association;
• directors and founders must provide certificates stating that they have no criminal record both in Slovakia and in the country of permanent residence;
• contract for hiring an office in the country. The address may be virtual;
• documents confirming the payment of the authorized capital in the amount of at least 5,000 EURO. If the share is paid in property, a certificate of full contribution of the share is provided. The participant's share cannot be less than 750 EURO. A joint stock company must have an authorized capital of at least 25,000 EUR.

Opening a company in Slovakia: what you need to know

There are practically no licensed activities in the country. A license is required to provide banking, credit, financial, insurance and other services. The founder of the company, wishing to engage in one of the activities subject to licensing, must confirm the experience and education in this field of activity. There may be other restrictions when choosing the type of activity.

The state does not control the sources of receipt of funds to offshore accounts.

Buying a company in Slovakia: taxation

The income tax rate in Slovakia is the same for everyone, regardless of the type of activity and form of ownership and is 22% of the taxable base. This amount is paid by resident companies of the country. The place of profit does not matter. A non-resident company is required to pay income tax only if the income is received from operations carried out within the country.

VAT: features of taxation

VAT payment in Slovakia deserves special attention. If you plan to buy a company for foreign economic activity, you must register with the tax authorities as a VAT payer. New companies do not receive this status when entering data into the state register. The Tax Inspectorate assigns a certain amount to each registered VAT payer as a security deposit or security. The company will be able to return these funds if it does not violate the law during the financial year. The procedure is not mandatory for those who decide to buy a ready-made company in the country.

The standard VAT rate is 20%. Firms engaged in the export of services and goods do not pay VAT. The exception is the export of financial, insurance, educational services.

Other taxes

Dividends paid by enterprises registered in Slovakia are not subject to income tax. The citizenship of the beneficiary of the company does not matter. Non-EU residents pay 35% of the amount of dividends and royalties received. EU residents pay 19% of the total amount of dividends or royalties received.

Introduction of tax license

In 2014, the country adopted a tax license law that defines the minimum amounts payable:

• the company is not registered as a VAT payer, no more than 500,000 EURO passes through current accounts per year. It is necessary to pay 480 EURO to the budget;
• the company is registered as a VAT payer, less than 500,000 EURO passes through current accounts per year. It is necessary to pay 960 EURO per year;
• the annual turnover exceeds 500,000 per year. The minimum amount to be paid is EUR 2880 per year.

Payment of the tax license is obligatory for organizations that have worked for more than one year.

Double taxation avoidance agreements have been signed with most countries of the world.

Registering a business in Slovakia: additional information

In accordance with the legislation of the country, business owners can apply for a residence permit, which gives the right to move around the EU countries without obtaining visas.

A limited liability company cannot have more than 50 founders. There are no nationality requirements for owners. There are no restrictions on the number of individuals and legal entities among the beneficiaries. A citizen of Slovakia, a resident of the EU or a person who has a residence permit in the country can be appointed as a director. Nominee directors and founders cannot be appointed.

The founder of a joint-stock company may be one legal entity. There must be at least two individuals. Citizenship doesn't matter. Mandatory appointment of the Board of Directors and the Supervisory Board. Each of them must have at least 6 people. There are no requirements for the form of shares, the presence of voting rights.

Accounting and financial reporting is mandatory for everyone. Enterprises that meet a number of criteria are audited:

• activity is licensed;
• annual turnover exceeds EUR 2 million;
• the average annual number of employees exceeds 30 people;
• the shares are freely available;
• the company's assets are worth more than 1 million EURO.

Open a company in Slovakia: Positive Invest services

Positive Invest offers services for opening offshore companies in Slovakia. Our specialists at the request of the client:

• prepare constituent documents;
• select a registration office, hire a director or the Board of Directors, taking into account the requirements of the law;
• obtain the necessary licenses, if required by law;
• will be registered as a VAT payer, etc.

You cannot waste your time going through bureaucratic procedures. Entrust the routine work to the specialists of our company. Within the agreed time frame, we will prepare all the necessary documents and deliver them to you in the most convenient way.