Many entrepreneurs think about its form at the beginning of their business. Since the majority of entrepreneurs are opening Slovak limited liability company, our team of experts describes the procedure for establishing of Slovak limited liability company (Ltd.). You can set up Slovak limited liability company either as a completely new Ltd. or buy an existing company, the so-called ready-made company.
If you do not know whether it is better to buy a ready-made Slovak limited liability company or to establish a new Slovak limited liability company, our experts will be happy to advise you.
1. Choice of trade name
Business name must not be the same or interchangeable with the business name of another entrepreneur. The exchange of trade name can end in initiation of litigation.
2. Selection of registered office, types of business, managers
The seat of the company can be a non-residential space, apartment or family house, even if this address is identical with the address of permanent residence of the partner or manager.
Before registering in the Commercial Register, you will need the written consent of the property owner in order for the property to be registered as the company’s registered office in the Commercial Register. It is necessary to determine types of business, managers of the company, who are the statutory bodies of the company, the administrator of the deposit, (usually one of the partners of Ltd.) and deposit of company members.
3. Elaboration of founding documents
If the company is founded by one person, articles of incorporation are drawn up, and if the company is founded by more than one person, articles of partnership are drawn up. If you do not know how to prepare founding documents, you can assign this task to our professionals.
4. Capital stock
If there are more partners, then the deposit of one partner must be at least € 750 and the capital stock (deposits of all partners together) must be at least € 5,000.
5. Obtaining a trade license
It is necessary to have the so-called electronic signatures and electronic document signing software. Since our company has the electronic signature, we can save 100% of the administrative fees for our clients that they would otherwise pay at the Trade Licensing Office.
6. Consent of the tax administrator and Social Insurance Agency
Partners of Ltd. must not have indebtedness to the Tax Office, Social Insurance Agency and no execution may be conducted against them. Indebtedness to Health Insurance Company is not an obstacle to setting up of Ltd.
7. Entry in the Commercial Register
From 1.10.2020, proposals for entry in the Commercial Register are submitted exclusively electronically and must be signed with a qualified electronic signature. After delivery of the certificate of trade license, it is necessary to fill in the application for registration of limited liability company in the Commercial Register and the application must be accompanied by statutory annexes.
8. Registration at the Tax Office
Registration at the Tax Office must take place separately for each type of tax within 30 days of the company’s registration. The Tax Office has 30 days to issue a registration certificate to the company free of charge and assign VAT identification. The form for tax registration can be found on the website of the Financial Directorate of the Slovak Republic.
9. Activation of electronic mailbox for legal entities
E-mailboxes are activated for all legal entities, to which the courts send all documents. Newly established companies have 10 days from registration in the Commercial Register until the state automatically activates their electronic mailbox. If within 10 days the manager of Ltd. does not log in to the e-mailbox itself, it will be automatically activated, even without the knowledge of the company’s manager.
It is possible to log in to the e-mailbox via the slovensko.sk website (person with electronic ID card with a chip and after fulfilling other preconditions).
More information on how to log in to the e-Mailbox will be glad to provide you with experts from Real Deal company. If you assign the establishment of Ltd. into our hands, we will be happy to advise you on how you can save money on fees for the state and the notary. In addition, you will have with the establishment of Ltd. no worries.