Slovakia

The state of Slovakia is located in Europe, to the east of the Czech Republic. The republic is landlocked. Its long land border is shared with the Czech Republic, Austria, Poland, Hungary and Ukraine. Slovakia is surrounded by the Western Carpathian Mountains to the north and north-east. The republic has a continental climate. 40% of the country is covered by forests. The forests are home to deer, foxes and other animals. It should be noted that Slovakia produces oil, natural gas and brown coal. A large number of resources are imported from the Czech Republic. The country also has large reserves of non-metallic materials.

The Republic has serious industrial and agricultural capacities. The most developed agriculture is based on modern logistics and advanced infrastructure. The average salary is about 940 euros a month.
Slovakia is a popular tourist destination. Its nature, mountains, caves, ski resorts, castles and towns attract many tourists. The republic's foreign trade is oriented towards EU countries.
The official state language is Slovak. The official currency is the euro.
The Republic is active in international activities aimed at international integration and cooperation in all areas of life. Slovakia is a member of the EU, WTO, OECD, OSCE, IAEA, etc.

6 simple steps to purchase a company

  1. choosing a country

  2. choosing a bank

  3. payment (by any method)

  4. sending documents

  5. company registration

  6. bank account opening

Main advantages

From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:

  1. Opportunity to enter the European market, well-developed infrastructure, favourable taxation policy.
  2. Lack of currency controls.
  3. An effective legislative and judicial system in the country.
  4. Relatively low taxation.

Organisational and legal forms of companies

According to current Slovak law, it is possible to register your company in the following legal form:

The most favourable form of business registration in Slovakia is a limited liability company (S.R.O. in Slovak). The number of participants in the shares must not exceed 50. According to Slovak law, one of the company's general directors must be a resident of the country.

Features of company incorporation

Based on the analysis of the current legislation regulating the activities of business entities, the following can be highlighted with regards to the specifics of the process of registering your business:

  1. The minimum share capital is 5,000 euros.
  2. The number of directors is at least 1.
  3. There are no requirements for the presence and residency of the secretary.

Taxes and fees

The state has the following features for levying taxes and fees

Corporate Income Tax (CIT) applies to profits earned by all companies, including subsidiaries of foreign companies. Slovak tax residents are taxed on their worldwide income. Income tax is 15% on income up to €100,000 or 21% if higher.

The basic rate of VAT is 20%. Certain medical products, printed materials and media, various foodstuffs and "basic goods" (e.g., milk, butter, meat), and some accommodation services have a VAT rate of 10%.

The mandatory conditions for doing business in the territory of the Slovak Republic are the timely annual submission of financial statements and the conduct of an audit of the company.

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