Slovakia: Types Of Company
Joint Stock Company
A Joint Stock Company (suffix A.S.) may issue and sell shares to the public. The company is managed by a Board of Directors. A General Meeting acts as the governing body of the company and ultimately can decide on all matters of legal consequence. Normally a simple majority of shareholders’ votes is enough to carry a decision of the General Meeting.
Liability of shareholders is restricted to the amount of capital invested. The minimum number of shareholders is two, or one where the shareholder is a limited company. The minimum basic capital is EUR25,000. A general shareholders’ meeting must be held within 60 days of the company being formed and the legal deeds which detail the forming of the company must be notarised.
At least 30% of the monetary contributions must be paid prior to the registration of the company. The company must set up a reserve fund of at least 10% of the registered capital and must maintain this fund annually with a contribution based on annual profits (normally 10%).