Slovakia
Company Formation in Slovakia
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Slovakia Company Formation
Registration in Slovakia takes the following 6-stage process:
Check the company name is not already in use, which take a day.
Have the articles of association and related documents notarised, which takes a day.
Apply for trade licences, tax registration and health insurance at the one-stop shop. This takes between 5 to 30 days.
Open a bank account and pay in at least 30% of each shareholder's capital. This takes one day.
Register at the County Registry Court, which takes 5 days.
Register for pension, sickness, disability and unemployment insurance with a social insurance company. This takes one day.
Except for enterprises and branch offices, all of these forms constitute Slovak legal entities. There is no limit to the percentage interest a foreign investor may have in a Slovak legal entity, nor are there any legal requirements for local participation. Foreigners may establish both joint ventures and wholly owned subsidiaries in Slovakia.
Limited Liability Companies
One person is sufficient to form a company. The shareholders may be individuals or a limited company. The liability of the owners of the company is limited to the sum of capital invested. The total number of shareholders will not exceed 50.
A Joint Stock Company
The company may issue and sell shares to the public. A board of directors manages the company. The shareholders' liability is limited to the sum of capital invested. The minimum number of shareholders is two. When the shareholder is a limited company, one shareholder is sufficient. A general meeting of the shareholders must be held within 60 days of founding the company.
The following are also available:
There are a few complicated incorporation procedures:
Offshore Companies
By choosing to incorporate an offshore company, business owners and investors can set-up a business outside the jurisdiction of its operations. Offshore companies are traditionally, but not exclusively, incorporated for lower fees and taxes. Business owners must abide the regulations of the offshore jurisdiction, and must not trade within the jurisdiction.
The benefits are vast. As aforesaid, reduced tax and fees are often big factors when considering offshore incorporation. A company may also choose and offshore location to:
Characteristics of an offshore company:
Traditional locations for offshore incorporation are tax havens, such as the British Virgin Islands, Panama and Monaco. Other favoured areas include India, the Bahamas, Dubai, the Cayman Islands, Cyprus, Seychelles, Marshall islands, Delaware, Turks & Caicos Islands, Hong Kong, Jersey, Guernsey and the Isle of Man.
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