Business – Company

Slovakia is one of the few countries in the European Union where a foreign people can start the business without any problems. The conditions for business are in almost all aspects identical with the ones for Slovaks. For foreigners, there are two ways of running business in Slovakia: through a company – executive of a commercial company (s.r.o) or sole proprietorship. In both cases, company Euroconsult Slovakia s.r.o., offers the professional administrative and legal services, complete assistance in establishing business and obtaining temporary residence permit for the purpose of business in Slovakia.

• 73 free business activities (trades) to choose from;
• Commercial health insurance for foreigners;
• Opportunity to get a mortgage or buy a car on lease (depends on turnover and tax return submission);
• Taxes – 15 % of net profit – income tax (turnover up to 49,790 € / accounting year);  after exceeding the turnover of 49,790 €, the income tax is 21 %
• According to law, the liability of the associate is only up to the amount of the unpaid deposit on the initial capital;
• If the company’s turnover exceeds the amount  49,790 € for 12 previous consecutive calendar months, the company is obliged to register as a VAT payer;
• When applying for a temporary residence permit, you can also apply for family reunion permit for other family members;
• After 5 years of temporary residence, foreigners have the possibility to apply for long-term/permanent residence, after 10 years of residence in Slovakia, foreigners can even obtain Slovak citizenship.

1. Valid passport;
2. Two colour photographs 3,0 x 3,5 cm;
3. Criminal record statement with apostille from the country of the foreign national´s citizenship and the countries where he/she resided for more than 90 days during 6 consecutive months in the last 3 years;
4. Document on accommodation in Slovakia for a minimum period of 6 months
5. Document confirming the authorization to do business:

• Memorandum of association on founding of the company signed by all founders, in which foreigner is indicated as the executive;
• Record from the general assembly of the existing company, during which the foreign national was appointed as the company´s executive;

6. Document regarding financial coverage of residence in the amount of 12-times the statutory life minimum (min. 3300 €); must be proved by a bank statement for the last 3 months
7. Document of financial coverage of business activity in the amount of 100-times the statutory life minimum for each month of residence (min. 27 500 €); must be proved by a bank statement for the last 3 months
8. Fee for submitting the application (business) : 330 €;
9. Fee for issuing a card for a temporary residence permit : 39 € (up to 2 days)/ 10 € (up to 30 days);