Global Business Service Agency: legal services for business

Slovakia is a country that occupies a confident 7th place among the States with economies in transition in terms of living standards and development. In addition, the country has the highest level of engineering: The state is the leader in Europe for 2017 by the number of manufactured cars per person. Other developed segments of the economy are industry, electrical engineering, IT Industry and export trade (which occupies 75% of the country's total turnover). Thanks to the investment attractiveness of the state today, we can safely say that the company registration in Slovakia is a profitable step for the European business.

What you need to know about jurisdiction before you open a company in Slovakia

1. Business immigration in the Slovak Republic. Owners of new incorporations can confidently expect to receive a residence permit, and, subsequently, the citizenship of the country.
2. The opening of a private and corporate account for foreigners is available in the jurisdiction, and all shareholder's income from dividends, interest and royalties are not taxed.
3. Slovakia is a priority country for trade on duty-free conditions with a simplified procedure for formalizing relations with foreign counterparties. Thanks to the Republic's participation in the WTO, EU, OSCE, OECD and Central European Initiative, all Slovak business receives a lot of benefits.
4. All private entrepreneurs who open incorporated business in the jurisdiction can expect to receive the status of a tax resident.
5. Basic rates of taxation in the country:
   • Income Tax – 0, 5-22% (depending on the possibility of using the agency scheme of taxation);
   • Capital Gains tax – 22%;
   • VAT – 20%;
   • Tax on repatriation of income – 10%;
   • Corporate Tax (tax license) – €480 (with a turnover of up to €500 thousand for non-payers of VAT), €960 (with a turnover of up to €500 thousand for VAT payers), €2 280 (with a turnover of over €500 thousand for VAT payers).
6. All companies of the state can count on tax optimization in case of registration of companies in the countries with which the contract on avoidance of double taxation (more than 65 DTA) is concluded.
7. Every Slovak counterparty is required to submit tax and accounting reports each year.

Company registration in Slovakia: mandatory regulations

To open a new company will require at least one shareholder and director. A shareholder may act as a natural or legal person, but at least one director (who will later become the general manager) must have either a residence or a residence permit in Slovakia and act as a natural person. Meetings of shareholders and the board of Directors shall be held once a year in the territory of the country.

The authorized capital of the company should be not less than €5 thousand, but, according to the legislation of the year 2016, its payment is not required. All capital is issued in the form of registered shares with declared value. Bearer shares are prohibited.

The cost of opening a new company using the services of GBS Agency with full support at each stage of registration-from €850.

Ask for a consultation right now, and in 14 days we can open for you individually selected form of business, which will meet your goals and objectives!

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