Establishing a company in Slovakia involves a series of steps and requirements. Here is a more detailed overview of the process:
- Choose the type of company: Slovakia offers various options for establishing a legal entity, such as a limited liability company (s.r.o.), joint-stock company (a.s.), and branch office. Each type has its own characteristics, such as minimum capital requirements and liability considerations.
- Name your company: When selecting a name for your company, it’s essential to ensure that the chosen name is unique and not already in use by another business entity in Slovakia.
- Draft the articles of association: The articles of association serve as the internal rulebook for the company and typically include details on the company’s purpose, business activities, organizational structure, decision-making processes, and more.
- Obtain a trade license: Certain business activities in Slovakia require a trade license, which is issued by the Trade License Office. It’s essential to determine whether your proposed business activities necessitate such a license.
- Register the company: Company registration in Slovakia is typically carried out at the relevant Regional Court or at the Registry of Commercial Companies, depending on the type of legal entity being established.
- Obtain a tax identification number: All companies operating in Slovakia are required to obtain a tax identification number for their business activities. This number is used for tax reporting and compliance purposes and is obtained from the tax office.
- Open a bank account: To facilitate business transactions, a company in Slovakia must open a bank account with a local bank. This account will be used for managing financial matters related to the business.
- Register with the social security office: If the company plans to hire employees, it is necessary to register with the social security administration to ensure compliance with labor and social security regulations.