Slovakia: Types Of Company
A foreign person may set up a business in Slovakia either as a subsidiary – a legal entity as described below – or as a branch office. Registration of a new company in Slovakia entails several procedural stages. Checks must be made to ensure the company name is not already in use. The Articles of Association and other relevant documents must be notarised. An application should be made for trade licences, tax registration and health insurance; this can be done on a single, composite application and can take anything between five and 30 days. Personal identification and a passport are required as proof of identity. Opening a new bank account is also essential where capital is to be paid up.
Once the application has been processed, it must be registered at the County Registry Court, a process that will take a further five days. Finally, registration for pension, sickness and unemployment insurance is also mandatory.
The most common way of setting up a new business in Slovakia is in the form of a branch office of a foreign company.
In addition to those company forms listed below, other forms of organisation in Slovakia include a European Company, a Co-operative, a European Economic Interest Grouping, and a European Co-operative.