Company Act in Slovakia

The regulation stated in the Commercial Code governs all the company’s activities in Slovakia. Many of the Commercial Code laws are based on the regulation from the Civil Code (Act 40/1964).

What are the main regulations comprised by the Company Act in Slovakia?

The Commercial Code stipulates that foreign investors are welcomed to do business in Slovakia under the same regulation and benefits as the Slovak residents; the main rule is that the business must be registered with the Commercial Register.

A company has its own legal personality; the representative who acts on its behalf need not be a Slovak citizen or resident. In case the representative is from a non EU or OECD country, a residence permit is needed only if he/she relocates to Slovakia.

According to the Commercial Code, there are five types of companies in Slovakia: Limited Liability Company, Joint Stock Company, general partnerships, limited partnerships and simple joint-stock companies (j.s.a., minimum capital EUR 1).

The limited liability company is a legal entity based on a minimum share capital of 5,000 Euro, the minimum contribution of each shareholder cannot be less than 750 Euro. A reserve fund must be created from net profit (at least 5% yearly, until it reaches at least 10% of the share capital).

A joint-stock company in Slovakia is a large form of company, based on a minimum share capital of 25,000 Euro. A reserve fund must be created for this type of business and consists in 10% of the capital. There are two types of joint stock companies in Slovakia, the public limited liability company (whose shares are admitted to trading on a regulated market in the EEA) and the private limited liability (whose shares are not admitted to a regulated market).

A general partnership is based on the agreement signed between at least two partners, who must guarantee the liability with their own personal assets. They have equal rights in the partnership, even when it comes to management decisions.

A limited partnership is formed by two types of partners: general and limited. The general partners have the right to act in behalf of the partnership and have unlimited liability, unlike the limited partners, who have limited liability according to their contribution and they do not manage the business but vote with the general partners on other matters.

A cooperative is another form of Slovak business and if it is not formed by at least two legal entities, it has the obligation to have at least five members.

We can help foreign investors who open companies here to register them for EORI in Slovakia.

Starting a company in Slovakia

Basically, a company in Slovakia is based on a signed contract showing the fields of activity the company will cover. The day the company is registered with the Commercial Registry, it may start conducting commercial activities. Our company formation specialists can help you open a company in Slovakia and comply with all the rules stated in the Commercial Code.

Other regulation of Business Law can be found in the  Act 530/2003 of the  Commercial Register, where are stipulated the documents requested for registration for each category of business.

The Act 455/1991 regulates all the operations regarding the Trade Law. The Bankruptcy procedure is regulated in the Act 7/2005 on Bankruptcy and Restructuring. For more details about the rules and regulations related to company formation in Slovakia, please contact our team of local experts.

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