Establishing a limited liability company

What

A limited liability company (s. r. o.) is a type of undertaking and one of the most frequent forms of business. This type of company can be established by one or more founders (not more than 50).

You should take the following steps:

How

NOTE: It is rather complicated to start business with a limited liability company; we therefore recommend using the services of a lawyer or another expert with respect to the establishment of the company.

Good to know

For more information, see these websites (in Slovak or English):

http://www.mic.iom.sk/sk/podnikanie/obchodne-spolocnosti.html

http://www.sbagency.sk/sites/default/files/sk.pdf

http://www.zalozeniesropostup.sk/

Steps

STEP 1: Establish the company: At the first stage, you must set the business name, the objects of business and the company seat, and draw up a partnership agreement or a deed of foundation (the signatures must be verified by a notary public).

STEP 2: Obtain a trade licence: The trade licence entitles the entrepreneur to perform business activities. The agent (executive manager) of the newly established company must apply for a trade licence for the objects of the limited liability company. The trade licence is issued by the trade licensing department of the district office or by the trade licensing office. The particular district office depends on the seat of the new company. For the addresses of trade licensing offices visit: http://www.minv.sk/?zivnostenske-podnikanie

STEP 3: Pay up the capital: a limited liability company is required to create a capital of at least € 5,000. The minimum contribution per partner is € 750.

STEP 4: Request the consent of the tax administrator: both natural persons and legal entities are required by law to prove before the entry of the company in the companies register that the founders (partners) of the limited liability company have no tax arrears. This is proven by the consent of the tax administrator. The consent is issued by the competent local tax authority on the basis of a written request.

STEP 5: Entry in the companies register: The application for entry in the companies register must be filed at the local commercial court according to the company´s seat. The application for entry must be filed not later than 90 days from the founding of the company or from the delivery of the trade licence. Before the submission of the application for entry, a substantial part of the capital must be paid up (or the entire amount in the case of a sole founder).

STEP 6: Registration by the tax authority: The newly founded company entered in the companies register must be registered by the tax authority within 30 days. The tax registration form is available at: https://www.financnasprava.sk/sk/titulna-stranka

Where

Visit a trade licensing office in your district.