Slovakia offshore. Registration of a company in Slovakia

Among European countries, the Slovak Republic is the most attractive for CIS citizens in terms of moving to a permanent place of residence. At the same time, the most common way of immigration is business in Slovakia. Doing business in this country requires lower costs than in other EU countries. In addition, registering an enterprise in the Slovak Republic is a fairly quick and easy process, you just need to familiarize yourself with some of its features.

Business based immigration

One of the legal ways to move to Europe is business immigration to Slovakia. Having received a residence permit on the basis of entrepreneurial activity, a foreigner can study in any educational institution republics. The maximum period of validity of a residence permit due to doing business in Slovakia is 3 years. After this period, the residence permit should be renewed.

The main conditions for immigration to the Slovak Republic on the basis of doing business are the registration of entrepreneurial activity, the provision of a document confirming the availability of housing (purchased or rented), and the availability of funds in the accounts: 4,000 euros (~ 4,700 US dollars) on the account of the company and 2,400 euros (~ $2,820) on personal).

At the same time, it should be borne in mind that business emigration allows you to obtain a residence permit for the applicant's family members.

Business laws and regulations

The organization and conduct of business activities in the Slovak Republic are regulated by the following laws:

• "On Entrepreneurship" - the law spells out the types of entrepreneurial activities and the requirements for their conduct;
• "On Accounting" - the law spells out the requirements for maintaining accounting records;
• "On income tax" - the law regulating income tax rates;
• "On Value Added Tax (VAT)" - the law regulating VAT rates;
• "On consumer protection" - the law contains requirements for the quality of products and services, the safety of their use, as well as information about the manufacturer.

In addition to laws, entrepreneurial activity is also regulated by regulations:

• Commercial Code - defines the types of legal entities and contracts, as well as General requirements to the implementation of transactions in the process of entrepreneurial activity;
• Civil Code - defines the principles of imprisonment various kinds transactions, family law and inheritance conditions;
• Labor Code - defines the conditions for drawing up an employment contract, working hours, wages, holiday time, etc.

Types of entrepreneurial activity

The country's government offers foreigners various investment projects in Slovakia, from the sale of bars and hotels to investment in agricultural land. federal law“On Entrepreneurship” establishes the following types of activities:

• Handicraft - to conduct this type of business, you need to have a special education. This category includes such types of entrepreneurial activities as a beauty salon, car service, repair and construction, metal processing, production of meat, dairy or confectionery etc.
• Dependent entrepreneurship is the type of activity with the highest requirements. To establish such a business on the territory of the Slovak Republic, you need to have a special education and fulfill a number of additional conditions. This type of business includes, for example, the pharmacy business, the work of a travel agency, the installation of gas appliances. The conditions for each type of activity are specified separately in the appendix to the law.
• Free enterprise is a type of activity, for the implementation of which it is enough to register your own private enterprise and prescribe any of the types of activity that is not in the lists of "handicraft" and "dependent". There are no additional conditions for organizing such a business by law.

Regardless of what type of activity you intend to engage in, the company should be registered in the form of one of the main organizational and legal forms:

• Society with limited liability is the most common form of doing business in Slovakia. The main condition for registering this type of activity is that one of the potential directors has a residence permit in the country or is a resident. The number of directors cannot exceed 50, and each of them must make an initial contribution of at least 750 euros (~880 US dollars).
• Private enterprise - its main advantage is the relatively low cost of its registration. However, it should be borne in mind that such a business cannot be put up for sale or expanded. In addition, the owner of the state of emergency must pay for medical insurance. A foreigner who has expired a residence permit in Slovakia or has problems with obtaining it cannot take advantage of the opportunity to open his own business in this country.
• Joint stock company - for foundation joint-stock company two participants are enough, which can be both individuals and legal entities. Moreover, shareholders can be residents of any country. The minimum contribution when registering a joint-stock company is at least 25,000 euros (~29,380 US dollars).

What type of activity is the most profitable in Slovakia

If you are interested in the question of what kind of business is in demand in Slovakia, you should first of all pay attention to the tourism niche. The Slovak Republic is quite an attractive country for tourists: there are many thermal springs, as well as ski resorts. But when planning to go into the tourism business, you need to be prepared for fierce competition.

In Slovakia, business is going well with the owners of various coffee houses and confectioneries. Therefore, if you are interested in what kind of business can be developed in the Slovak Republic, you should think about the restaurant business. In addition, the production and processing of agricultural products is considered to be more and more profitable.

Sphere information technologies is now in demand in almost every country, and the Slovak Republic is no exception, offering a wide range of opportunities. The automotive industry and transport are also a promising industry in which a foreign entrepreneur can develop his business, while receiving a good profit.

Registration of a business visa

The Slovak Republic is one of the countries of the Schengen Agreement, therefore, in order to visit it, citizens of states that do not have a visa-free entry agreement must apply for a Schengen visa. A visa can be single, double or multiple entry. Suitable for business trips to Slovakia, which gives the right to stay in the territory of any of the Schengen countries for 90 out of 180 days. If, in order to conduct business, you need to stay in the country for more than three months in half a year, you can apply for a national long-term visa category D. The decision on the validity of the visa is made by the consul in each individual case.

Required documents

To apply for a business visa to Slovakia, you must prepare the following documents:

• + a copy of the first page, as well as the original and a copy of other valid passports;
• original civil passport + copies of pages with marks;
• application form;
• 2 photographs 3.5 x 4.5 cm;
• a document confirming the purpose of the trip (invitation);
• a document confirming the availability of financial resources;
• n or the address of the place of residence, if not indicated in the invitation.

It is not required to submit a business plan for Slovakia to the consulate when applying for a visa, but you can submit it as an additional document confirming the purpose of the trip.

Is it possible to extend the visa

Extension of the Schengen visa is possible only if there are good reasons that do not allow you to leave the country in due date e.g. a critical health condition or disaster. In some cases, an extension is also possible for holders of a national visa.

However, the best option for those who intend to stay in Slovakia for more than 90 days is to obtain a residence permit.

In this case, the preparation of documents should be taken care of immediately upon arrival in the country, since the consideration of the application may take up to 3 months.

If you are interested in how to open a business in the Slovak Republic, first of all, you should take care of preparing the necessary documents. After the complete package is assembled, the documents must be certified by a notary, and then the company must be registered in the Commercial Register, and then in the tax service. In addition, the Department of Commerce must issue a license confirming your right to engage in the type of business activity that is specified in the memorandums of association you have prepared. However, business registration in Slovakia is possible without a license, but it depends on the type of activity. As a rule, a license is issued in the name of one of the founders, who is a resident of Slovakia.

Required documents

To register your own business in Slovakia, you need to prepare the following documents:

• charter of the future company;
• memorandum of association;
• certificate of non-conviction of the founder in Slovakia;
• certificate of non-conviction of the founder in the home state;
• a document confirming the registration of the legal address of the company;
• a bank statement confirming the transfer of the statutory fund to the company's account;
• a document on the contribution of their shares to the authorized capital by all directors.

Bank account

To register your own LLC in Slovakia, you need to open an account with an initial deposit of at least 5,000 euros (~5,875 US dollars). Plus, 15,000 euros (~17,625 US dollars) need to be contributed to the development of the enterprise. This money can be withdrawn from the account if the founder receives a residence permit. If you plan to renew your residence permit in the future, please note that after paying taxes, the account must have at least 12,000 euros (~14,100 US dollars) of net annual income.

Business taxation

The system of taxation in the Slovak Republic is the same for all forms of enterprises. The cost of maintaining a company in Slovakia involves the payment of the following taxes:

• dividend tax - the rate of this tax depends on many factors:
  • A legal entity that is a resident of Slovakia pays dividends at a rate of 7% to resident individuals.
  • For companies from other countries that have signed an agreement on the avoidance of double taxation with Slovakia, the company also pays dividends at a rate of 7%.
  • In case of payment of dividends by a company from a country that has not signed agreements on the avoidance of double taxation, the rate on dividends is 35%.
  • Dividends paid to a legal entity registered in Slovakia are not taxed. However, in this case, the company is forced to process the payment of labor income tax for its employees and make it in the form of social and medical contributions.
• Income tax - income tax for legal entities in Slovakia in 2019 is 21%. Taxes for individuals are levied at a progressive rate depending on the amount of profit: income up to 35,000 euros (~41,125 US dollars) is taxed at a rate of 19%, profits over 35,000 euros are taxed at a rate of 25%.
• VAT – the value added tax rate in Slovakia is 20%. This tax is mandatory for taxpayers whose annual turnover exceeds EUR 49,790 (~USD 58,500).

Organization of business in Slovakia for citizens of the CIS countries

registration own business in Slovakia is for citizens of the CIS countries regarding in a simple way immigration to a European country. Business laws do not prevent foreigners from doing business in Slovakia.

Business in Slovakia for Russians, Ukrainians, Belarusians or citizens of other CIS countries implies the same opportunities, regardless of the citizenship of the immigrant.

Buying a ready-made business

Compared to registering a business from scratch, buying a ready-made business in Slovakia greatly simplifies the preparation of documents for its re-registration. In this case, the founder is not required to provide a business plan, as well as pay an initial fee of 5,000 euros (~5,875 USD). Nevertheless, it is necessary to have some amount of money that you plan to invest in the development of the enterprise.

If you want to buy cheap ready business in Slovakia, you should make sure that there are no debts and fines imposed on the company. To do this, read the attached documents as carefully as possible. In particular, you need to ask about the reasons for the low cost of the business. To do this, it is advisable to hire a lawyer and an auditor who will help you deal with the documentation. If everything is in order with the papers and you decide to buy this business, then you need to register it with the same authorities as the new one, and also re-register it in your name.

Offshore firms

The Slovak Republic cannot be called a classic offshore zone, however, this country is quite profitable in terms of taxation. Business people seek to register an offshore company in Slovakia primarily in order to use it as a parent holding company with subsidiaries in other EU countries. The advantages of registering a parent company in Slovakia are transparent legislation, high economic performance and a relatively easy process of paperwork.

Experience of Slovak Entrepreneurs: Video

One of the most significant advantages is the relatively easy business immigration, that is, the registration of a company.

How can you get a residence permit (residence permit) and then permanent residence (permanent residence) in Slovakia through the opening of a company?

Legal Features

First, let's look at what requirements apply to a business in Slovakia that gives the right to obtain a residence permit.

Nothing supernatural. Company (limited liability company (s.r.o.):

• must be registered in the prescribed manner;
• management should be available for contacts with officials (to avoid problems);
• real address required.

Of course, there are other requirements, but they are not too difficult to fulfill.

We are much more interested in this circumstance: the owner (owners) of the company must have the right to reside in Slovakia, that is, a residence permit.

It turns out some paradox: a company is created for business immigration, at the same time, according to the current laws, it is necessary to already have the right of residence in order to get the right to open a company.

However, this circumstance only slightly complicates the process of registering a business.

Instruction for the entrepreneur

Submission of an application for registration of a company to the Office for Entrepreneurship. This can be done by mail, having certified the documents at the Slovak consulate.

Of course, the statement is not in an arbitrary form - there are certain standards, this must be addressed directly to the Slovak laws (since we are going to live in this country, it is still necessary) and, as a last resort, to the Slovak officials for help.

Then, after a positive response, the documents are sent to the Commercial Court, which refuses to register s.r.o. (or another form of your choice). Here the process stops: a refusal comes on the grounds that the owner of the company does not have a residence permit and EU citizenship.

This document is really helpful. because it is the basis for obtaining a residence permit. Now you can apply at the consulate for a residence permit in Slovakia. At the same time, you need to worry about a few more things in advance (in particular, buying or renting real estate, see the material "").

List of documents

The main papers included in the package of documents for obtaining a residence permit:

• grounds - the same refusal to register;
• a document confirming the ownership of real estate or its rental;
• certificate of possession of a certain amount of money;
• paid insurance in the Slovak Republic;
• medical certificate of good health, absence of serious diseases;
• certificates of non-conviction in the Russian Federation and the Slovak Republic;
• application form, photographs of the established format, a copy of the international passport with a validity period of at least one and a half years.

In addition, a consular fee must be paid for the entire procedure. Documents are provided in Slovak. They must be relevant - the validity period is only a month (30 days).

The procedure looks rather complicated, but other countries in terms of business immigration are unlikely to be much better. In all cases, you will have to prepare for bureaucratic procedures. However, the residents of the CIS are no strangers to this.

See also material. In it you will find an overview of promising niches.

Good luck immigration!

Establishment of a company in Slovakia

In order to obtain a residence permit in Slovakia, Russian citizens, along with the acquisition of real estate in the country, establish a company.

The reason why it is profitable to open a business in Slovakia is the low income tax compared to, for example, Austria. Income tax is paid once a year. It is 23% of the profit. In Austria, for example, there is no income tax. However, this applies if the profit is up to 100,000 euros per year. But with income of 25,000 euros, the tax will be 38.33%, and income up to 51,000 euros will be taxed at 43.6%, profits over 51,000 euros - 50%. The authorized capital in Slovakia is 5,000 euros, and in Austria - 35,000 euros.

To obtain a residence permit, you need to register your company in the Trade Register of Slovakia, and after 5 years you will receive a residence permit.

Company establishment

15 days after the filing of constituent documents with the Commercial Register at the District Court, the company can begin its work. Establishment of a company costs 900 euros.

Buying a ready-made company

There is an option to purchase a ready-made company registered in the Commercial Register. Such a firm can start its work today. Buyer, i.e. the new owner can change the name of the company and add activities.

The cost of a ready-made company is 900 euros. In both the first and second options, you need to decide who will be the executive director of the company.

Executive director of the company (konatel, konateľ).

The firm must have an owner, co-owner, and executive director. The owner himself, if he is not located on the territory of Slovakia, is not responsible. It is carried by the executive director.

Who can become an executive director:

An executive director of a company can be:

citizen of Slovakia;
or a person who has a residence permit in Slovakia;
or a citizen of an EU country.

When choosing one of three options, the company will be issued in 3 days. During these days, all Required documents to the registration authorities. The owner will only need his passport.

It is necessary to submit an application to the Department of Entrepreneurship and all constituent documents, which must first be certified by a notary, then a bank account is opened with a mandatory deposit of 40 euros.

The Executive Director and the Owner are citizens of another non-EU country:

Just as in the first case, the owner of the company, who is not a citizen of Slovakia, must bring a certificate of no criminal record with an apostille from the country of his permanent residence. The certificate must be older than three months. In Slovakia, this certificate must be translated into Slovak by a court translator who has the right to print. In this case, the company registration process will take 90 days, because. in addition to the establishment of the company, the process of obtaining a residence permit begins.

Within 30 days from the date of submission of the application for registration, the tax office will issue the tax number DIČ (daňové identifikačné číslo) to the company.

An LLC can take two forms: LLC without VAT (s.r.o. bez DPH) or LLC with VAT (s.r.o. s DPH). VAT (value added tax) - in Slovak DPH (daň z pridanej hodnoty).

Registration of the legal address of the company

In order to register a company, you need a legal legal address. The ideal option will be if the owner acquires commercial or residential real estate, which will serve as a legal address.

You can also purchase a virtual legal address for a special fee. The price of such an address will vary from 20 to 60 euros per month

UraFinance offers services to everyone in Slovakia - a small state located in Central Europe.

Buying a company in Slovakia: general information

Slovakia until the recent past was part of a single state -. At the moment, no more than 5.5 million people live in the country. Laws are adopted by a unicameral parliament - the National Council. Representative functions are performed by the President. Executive power is represented by the Prime Minister and the Government.

Documentation is in Slovak. Domestic settlements assume the use of EURO. The country is a member of the EU. The main sources of income are tourism, the production of medicines, the opening of offshore zones. Slovakia keeps inflation low.

Our experts love their job!

Registration of a company in Slovakia: basic provisions

It is possible to open a limited liability company (SRO type) in the country. Most offshore companies are opened with this type of liability. Less common are full and limited partnerships and joint-stock companies.

When opening a company in Slovakia, you should be aware that subsidiaries cannot independently choose the form of taxation and type of ownership.

Documents required for company registration

You can open an offshore in Slovakia if you have the following documents:

• the decision of the owners on the establishment of the company, the memorandum of association and the Articles of Association;
• directors and founders must provide certificates stating that they have no criminal record both in Slovakia and in the country of permanent residence;
• contract for hiring an office in the country. The address may be virtual;
• documents confirming the payment of the authorized capital in the amount of at least 5 thousand EURO. If the share is paid in property, a certificate of full contribution of the share is provided. The participant's share cannot be less than 750 EURO. A joint stock company must have an authorized capital of at least EUR 25,000.

Opening a company in Slovakia: what you need to know

Almost no country licensed species activities. A license is required to provide banking, credit, financial, insurance and other services. The founder of the company, wishing to engage in one of the activities subject to licensing, must confirm the experience and education in this field of activity. There may be other restrictions when choosing the type of activity.

The state does not control the sources of receipt of funds to offshore accounts.

Buying a company in Slovakia:Taxation

The income tax rate in Slovakia is the same for everyone, regardless of the type of activity and form of ownership and is 22% of the taxable base. This amount is paid by resident companies of the country. The place of profit does not matter. A non-resident company is required to pay income tax only if the income is received from operations carried out within the country.

VAT: features of taxation

VAT payment in Slovakia deserves special attention. If you plan to buy a company for foreign economic activity, you must register with the tax authorities as a VAT payer. New companies do not receive this status when entering data into the state register. Tax office each registered VAT payer assigns a certain amount as a security deposit or security. The company will be able to return these funds if it does not violate the law during the financial year. The procedure is not mandatory for those who decide to buy a ready-made company in the country.

The standard VAT rate is 20%. Firms engaged in the export of services and goods do not pay VAT. The exception is the export of financial, insurance, educational services.

Other taxes

Dividends paid by enterprises registered in Slovakia are not taxable income tax. The citizenship of the beneficiary of the company does not matter. Non-EU residents pay 35% of the amount of dividends and royalties received. EU residents pay 19% of the total amount of dividends or royalties received.

Introduction of tax license

In 2014, the country adopted a tax license law that defines the minimum amounts payable:

• the company is not registered as a VAT payer, no more than 500 thousand EURO passes through current accounts per year. It is necessary to pay 480 EURO to the budget;
• the company is registered as a VAT payer, less than 500 thousand EURO passes through current accounts per year. It is necessary to pay 960 EURO per year;
• the annual turnover exceeds 500 thousand per year. The minimum amount to be paid is EUR 2880 per year.

Payment of the tax license is obligatory for organizations that have worked for more than one year.

Double taxation avoidance agreements have been signed with most countries of the world, including Russia.

Registering a business in Slovakia: additional information

In accordance with the legislation of the country, business owners can apply for a residence permit, which gives the right to move around the EU countries without obtaining visas.

A limited liability company cannot have more than 50 founders. There are no nationality requirements for owners. There are no restrictions on the number of individuals and legal entities among the beneficiaries. A citizen of Slovakia, a resident of the EU or a person who has a residence permit in the country can be appointed as a director. Nominee directors and founders cannot be appointed.

The founder of a joint-stock company can be one entity. Individuals must be at least two. Citizenship doesn't matter. Mandatory appointment of the Board of Directors and the Supervisory Board. Each of them must have at least 6 people. There are no requirements for the form of shares, the presence of voting rights.

Accounting and financial reporting is mandatory for everyone. Enterprises that meet a number of criteria are audited:

• activity is licensed;
• annual turnover exceeds EUR 2 million;
• the average annual number of employees exceeds 30 people;
• the shares are freely available;
• the company's assets are worth more than 1 million EURO.

Legislative Information

Open a company in Slovakia:UraFinance services

UraFinance offers services in Slovakia. Our specialists at the request of the client:

• prepare constituent documents;
• select a registration office, hire a director or the Board of Directors, taking into account the requirements of the law;
• obtain the necessary licenses, if required by law;
• will be registered as a VAT payer, etc.

You can not waste your time going through bureaucratic procedures. Entrust the routine work to the specialists of our company. Within the agreed time frame, we will prepare all the necessary documents and deliver them to you in the most convenient way.