- Business forms in Slovakia
- Certificate of a Business License
Establishment of the limited Company (s.r.o.)
- What are the differences between these two business forms?
- Are there any other requirements for getting the residence permit in Slovakia for the purpose of business - investment?
- When can I become a Slovak citizen?
- Staying in Slovakia
- I am interested in your services, what I have to do to start the process?
If you are interested in our legal services related to Immigration Law, obtaining a trade license or services related to the establishment of the company, don’t hesitate to contact us. We are ready to arrange everything necessary for you.
You can read also this interview, where our well respected Immigration Lawyer in Slovakia, JUDr. Veronika Michalikova, MBA, will provide you with the answers to the frequently asked questions in the area of Slovak Immigration Law.
From 1.5.2018 in most cases, the Slovak foreign police ask for a business plan when entering Slovakia. The business plan must meet the legal requirements. If the business plan is not approved by the Ministry of Economy, the residence permit will be rejected.
Business forms in Slovakia
On the teritory of Slovakia, there are two business forms, which we would like to highlight as most the interesting for our clients. The first one is doing business like a natural person using the trade license. The second is the establishment of a limited liability company – LLc. or in Slovakia known as s.r.o.
Certificate of a Business License
The trade license is issued by the Trade register (the name in the Slovak language: Okresný úrad, odbor živnostenského podnikania) generally within about 7 working days. Documents necessary for the trade license:
- official form (it is necessary to choose the representative for mail delivery with the address in Slovakia. Our law firm can provide you with this service)
- document not older than 90 days which confirms provided place of business in Slovakia
- extract from the criminal record from the native country of the foreigner, and
- extract from the criminal record from the country where the third country foreigner has resided during the last three years for a period longer than 90 days within six consecutive months
- decision on the establishment of a foreign entity which includes all information about the business (activities, place of business, business name, head of business, etc.). It will be prepared by our law firm together with other required documents.
Establishment of the limited Company (s.r.o.)
After receiving the information for the establishment of the limited liability company from the client, we will prepare all documents. We will send them to the client by email (or by post). After delivering the signed documents, we will file the application for the Trade register (Živnostenský register). The trade license is issued by the Trade register (the name in the Slovak language: Okresný úrad, odbor živnostenského podnikania) generally within 7 working days.
Then the application into the Commercial register (Obchodný register) will be filed. The commercial register has about 10 working days for registration the company. After the registration, the company will be incorporated and can start doing the business.
What are the differences between these two business forms?
Temporary residence for the purpose of business shall be granted to a foreigner who is acting or will be acting on behalf of a trading company and he/she is not in a working relationship. It means that the shareholder(s) of the company can take a decision that someone will be the director / executive of the existing company.
In the limited company, there can be more than one first director or shareholder. On the other hand – doing business like a natural person means that only one person can be a founder and a first director.
If the client is interested in LLC establishment, the first director must be an EU citizen, a citizen of an OECD country or a person with a Slovak residence permit. If you are a non-EU citizen and do not fulfill this requirement, we can register a trade (doing business like a natural person – entrepreneur).
There are more differences according to applying for the residence permit in Slovakia for the purpose of business – investment. The client will have to provide us more information first, then we can provide the client with the most efficient solution.
After the Slovak Foreign police granted a temporary residence, the foreigner can travel within European Union because Slovakia is the EU member state.
Are there any other requirements for getting the residence permit in Slovakia for the purpose of business – investment?
Yes, the company or trade registration is only the first step. The client has to find accommodation, have two accounts (personal and business) and fulfill other requirements according to Act No. 404/2011 Coll. on Residence of Aliens and Amendment and Supplementation of Certain Acts.
Our Law Office will prepare all necessary documents for you. We will need also a clear criminal record check for each family member, also for children over 14 years old. If you are married and your wife will also apply for a residence permit, we will need a marriage certificate. We will need also the birth certificates of your children.
When can I become a Slovak citizen?
You will have to meet several conditions. For more information please read our article about granting the Slovak citizenship here.
Staying in Slovakia
As for the latest regulations, the foreigner have to stay in Slovakia for at least 1/2 of the year. Otherwise you can have issues with the prolongation of the residence permit of Slovakia. Please note that the main reason of applying the residence permit is to live in Slovakia.
I am interested in your services, what I have to do to start the process?
At first, we will need some information. If you are going to ask for the residence permit in Slovakia for the purpose of business, please fill this online form – declaration. Once you have submitted the online form, we will get in touch with you within 2 working days and provide you with more information together with the price of our legal services.
Please be aware that our Law Firm only provides its services to persons who want to do
business in Slovakia, not just those who want to acquirea residence permit or live in another country.