Business – Trade license

Slovakia is one of the few countries in the European Union where 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  the trade license (sole proprietorship) or the company – executive of a commercial company (s. r. o). In both cases, company Euroconsult Slovakia, offers the professional administrative and legal services, complete assistance in establishing business and obtaining temporary residence permit for the purpose of business in Slovakia. EU citizens who have established a trade license are required to register with the Foreign Police and have the opportunity to obtain permanent residence.

Why choose temporary stay for the purpose of business – Trade license?

  • 73 free business activities (trades) to choose from;
  • Possibility to choose specialized and regulated business activities, after proving and nostrification of education or praxis;
  • Taxes – 15% of net profit – income tax (turnover up to 60 000 € / accounting year), after exceeding the turnover of 60 000 €, the income tax is 19%;
  • State public insurance;
  • Easy access to finances in bank accounts, the possibility of withdrawal arbitrarily;
  • Simple administration in the process of renewal of temporary residence;
  • 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.

What are the conditions for foreign sole proprietors (TL) in Slovakia?

Laws related to accounting and business in Slovakia are diametrically different from the ones applied in other EU countries or in third countries, so choosing the right accountant or tax advisor plays a very important role. When establishing a trade license and receiving a temporary or permanent residence card, a foreigner – business man (sole proprietor) , is obliged to be registered with the tax office, social insurance office and to be insured at the public (state) health insurance company. During the first year of business activity, each self-employed person pays a mandatory monthly health insurance payment of 97,80 € (2024). The first year of activity is exempt from social insurance payments. By the end of March, the sole proprietor is obliged to file a tax return, according to which they will calculate the payment of health and social insurance for the next year (until the filing of the tax return for the following year). All these documents are very important to present when renewing the temporary residence permit.

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Administrative fees – not included in the total price

  1. Administrative fees at the Foreign Police Department;
  • Applying for – business: 330 €  (only third-country nationals);
  • Fee for issuing the card for temporary residence permit: 39 €  (up to 2 days)/ 10 € (up to 30 days);
  1. Fee for the medical check-up for foreigners: 165 €;
  2. Fees for issuing and legal translation of  criminal record with apostille in other than home country.

What does the client need when applying for temporary residence permit

  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 s/he resided for more than 90 days during 6 consecutive months in the last 3 years (only third-country nationals);
  4. Document on accommodation in Slovakia for a minimum period of 6 months;
  5. Establish trade license (sole proprietorship) at Trade Licensing Office of the Slovak Republic;
  6. Document of financial coverage of residence in the amount of 12-times the statutory life minimum – must be proved by a bank statement for the last 3 months – min. 3300 € -(only third-country nationals);
  7. Document of financial coverage of business activity in the amount of 20-times the statutory life minimum for each month of residence – must be proved by a bank statement for the last 3 months – min. 5500 € (only third-country nationals);
  8. Fee for submitting the application (business): 330 € (only third-country nationals);
  9. Fee for issuing the card for temporary residence permit: 39 € (up to 2 days)/ 10 € (up to 30 days);

Obligations of a foreigner after granting temporary residence permit

  • Enter the territory of the Slovak Republic within 180 days from the date of granting temporary residence permit;
  • Report the beginning of his/her residence at the Foreign Police within working days from entering the territory
  • Report the start of the stay to the Foreign Police within 3 working days;
  • Conclude health insurance policy within 3 working days from collecting the residence document;
  • Within 30 days from collecting the residence permit card, submit at the Foreign Police a document on health insurance;
  • Within 30 days from collecting the residence permit card, submit at the Foreign Police a medical report not older than 30 days confirming he/she does not suffer from a disease endangering public health;
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