Company registration in Slovakia and getting a residence permit in Slovakia
Registering a company in Slovakia can be one of the ways to get residence permit in this country. There was a time when people who wanted to stay in Europe and the Schengen area could reach this goal by registering a company in Slovakia. They registered their company in this country at a low cost and then submitted the documents to the embassy of Slovakia and applied for a residence card, which was sent to Slovakia and checked by the foreign police. And after about 90 days the residence card would be issued for applicants and their family members (either from the beginning or a short time after the main person presented his/her residence card).
But at the moment, the Embassy appointment for Iranians lasts for at least a year to a year and a half due to the fact that the embassy is busy, and after that, when people apply, their application may be accepted and may be refused. And if it is accepted, it takes the same 90 days for the foreign police to get a response from the government of Slovakia.
Some of the preliminary requirements for getting a residence permit in Slovakia through company registration are being fluent in Slovak language, being present in this country for 6 months of a year, being over 18 years old and having no criminal record. Of course, people under the age of 24 get lower scores and points. Residence permit in Slovakia will initially be issued for 1 year or 2 years, and usually people can apply for permanent residence after paying taxes for 5 years. However, due to the difficulties of this process and in getting a residence permit in this country and having side issues, people may not be able to get a residence permit in this country.
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Company registration in Slovakia and types of companies
There are different types of company registration in Slovakia, each of them have their own requirements. Depending on the needs and facilities of Slovakia, people can register several types of business companies in order to enter the Economic and Trade Market of Slovakia. Each of these companies have their own legal structure and have their own characteristics. The first step is to set up and register a company in Slovakia, selecting a suitable type of business companies in this country and then ensuring the amount of your capital and respecting the laws and legal requirements of Slovakia, and the investor must complete the registration forms correctly.
In the table below we will mention some of the most common types of company registration in Slovakia:
| Types of companies | General and primerelyconditions |
| Spolcons Rucenim Obmedzenym (S.R.O) Limited liability company | The required capital in this type of company registration is 5000 Euros and it can be registered with 2 shareholders. It should be mentioned that the number of shareholders in limited liability companies should not exceed 50 people. Decisions to be made: Appoint the Chief Executive Officer and the Supervisory Board |
| Private joint stock company that can be divided into two types private and public:
Akciova Spolocnost (A.S) |
This type of company includes supervisory boards and boards of directors. And the capital which is required to register this type of company is 25,000. The difference between private and state-owned companies is that private companies cannot have free trade in this country, but state-owned companies have the right for free trading. Unlike a public joint stock company, a share in a private joint stock company can be freely transferred and also if a shareholder decides, a public company can become a private company |
| Public Joint Stock Company (verejná obchodná spoločnosť) | In this type of company registration in Slovakia, people with 250 euros can own a share. All of the shareholders are liable for the company’s debts, even from their own assets. All partners can be equally involved in the company’s decisions, unless the shareholder’s authority is determined in the provisions of the articles of association (statue ) |
| Liability company | This type of company can be registered among 1 to 2 shareholders, which are limited liability shareholders. |
It should be noted that people who register each of the companies that we have mentioned above will initially get a 1-year residence permit. Therefore, the temporary residence period is issued for one year, but it is valid for three years, which must be extended every year, and if necessary, it can be extended for another three-year period. After about 5 years, when their company is profitable and after paying taxes in Slovakia, they can apply for permanent residence.
Company registration in Slovakia and costs of company registration
Company registration in Slovakia is cheap (low cost), with about 5000 Euros you can register one of the types of limited liability companies in this country. Of course, people in this country must have 22,000 Euros in their personal account for 3 days in this country. Honorarium are also determined according to the opinion of the applicants’ lawyer. People also must pay for translation fee. It should be noted that the cost of living in this country is about 600 to 700 euros per month for a family with four members. But currently, due to the fact that this process is very difficult and almost impossible directly from the embassy of Slovakia, people are forced to act as tourists from the embassies of other countries and enter Europe from a second country and then enter Slovakia, Therefore, the costs of traveling as a tourist is added to the applicant’s costs. Malekpour Law Firm does not currently recommend to register a company in Slovakia. But suggests that applicants for company registration in Slovakia, to register a company in Austria, to register a company in Germany, and register a company in Switzerland and….
Company registration in Slovakia and the minimum initial capital
Registering a company in Slovakia, like in other countries, requires a minimum cost and capital. This minimum cost is for the registration of the primary company and as mentioned above, the initial capital for private joint stock companies is about 25,000 Euros and for limited liability companies is about 5,000 Euros. Of course, it is not required to pay all of the amount in the first place, but it can be provided during 5 years. To establish a company, the applicant must have a work experience related to the work of the company and prove his financial ability. In the case of the companion visa, the applicant’s family members (spouse and children under the age of 18) can apply for a residence permit in this country just like the main person. But the applicants in order to have his/her parents as companions beside himself/herself, must add to his/her initial capital and provide more money.
Company registration in Slovakia and the required documents and the registration process
Registering a company in Slovakia requires and needs certain steps and documents. These required steps and documents are:
- Passport with two color copies which is equal to the original
- 3 passport photo
- Signing a power of attorney to register the company by a lawyer in the presence of the Ambassador of Slovakia in Iran
- Applicant’s must present a Certificate of no criminal record for company registration
- Certificate of financial ability
- Suggest 5 names for the company
- The applicant’s address in Iran with a 10-digit postal code
- Presenting a business plan and economic justification plan for the business and company activity in Slovakia
In order to migrate to this country, a person or his/her legal lawyer first enters Slovakia with a company registration and investment visa (which can be obtained if the documents that are mentioned above are provided, which currently is a long process) and take care of all of the steps of company registration, and after registering the company, returns to the country of origin and gets a temporary residence permit through the embassy of Slovakia in his/her country. The temporary residence permit will be issued for one year, but it is valid for three years, which must be extended every year, and if necessary, it can be extended for another three-years period. This process takes about 90 days to issue a temporary residence permit. But in the case of permanent residence permits, it should be mentioned that because companies, even companies that have been established recently, are required to pay taxes from the very beginning, and the prerequisite for getting a permanent residence is to pay taxes and reside in Slovakia for 5 years. For this reason, people can get permanent residence in Slovakia after 5 years.
Company registration in Slovakia and business plan
For registering a company in Slovakia just like other countries, applicants must provide a business plan and an economic justification plan. This plan must fit the standards and the trade and economy market of Slovakia and bring benefits to this country. To write this business plan, the following important points should be considered:
1- Provide a summary of your business plan and define its objectives and goals in the business plan
2- Declaring the goals of your products in the trade market of this country
3- Determining the managers and the board of directors of the company
4- Define the required costs of this process
5- Defining the annual expenses of your company
6- Providing financial ability to register the company
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