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The Slovak Republic

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The Slovak Republic

Slovakia is a member of the European Union and a member of the Schengen zone, which makes it possible for businesses from this country to easily enter the European market. Slovakia is a jurisdiction with a stable economy that supports the global trend to reduce the corporate tax rate. So, since 2017 the corporate tax rate here has decreased from 22% to 21%.

The procedure for registering a company in Slovakia takes a little time and requires minimal financial investments. A stable and prosperous economy, low inflation and a flexible tax system make Slovakia one of the most attractive jurisdictions in Central Europe for doing business.

Features of jurisdiction

  • It is not included in the Ukrainian list of jurisdictions that fall under the rules on TC (transfer pricing);
  • Availability of agreements on avoidance of double taxation;
  • Necessity of submitting annual financial statements without special audit;
  • The registration of a company in Slovakia is relatively inexpensive;
  • An uncomplicated procedure for obtaining a residence permit with the subsequent possibility of obtaining Slovak citizenship.

Ways of using the company

A company in Slovakia can be used as a parent holding company that owns subsidiaries in different EU countries. Thanks to a favorable tax regime, Slovakia is also ideally suited for registering start-ups. In Slovakia, activities that can not harm the interests of the country are allowed. It is forbidden to engage in insurance and banking activities, and for some types of activities, licenses are provided.

Company registration procedure

To register a company in Slovakia, you must provide the following documents:

  1. From one to three planned company names in English for verification.
  2. A package of documents for shareholders, directors and the beneficiary, which includes:
    - a civil passport, a foreign passport or a driving license;
    - confirmed address of residence;
    - constituent documents for legal entities.
  3. Information about the expected type of the company's activities and the geography of doing business.

COMPANY requirements

Type of companyLimited liability company (spoločnosť s ručením obmedzeným (S.R.O);
Term of company registration 20 working days;
AUTHORISED SHARED CAPITALThe minimum is 5000€;
PAID IN SHARED CAPITALSince January 2016 there is no requirement to pay the authorized capital and open an account with a Slovak bank;
Confirmation of payment of the authorized capital is formal in the form of a written declaration of the director on payment of the authorized capital;
Taxation
  • The income tax is 21%;
  • Since 2014, a new tax has been introduced in the form of a tax license, which is paid by legal entities in different amounts depending on the annual turnover. This tax is paid once a year and reduces the overall tax base;
  • VAT - the general rate of 20%, preferential rates of 10% and 0%;
  • Capital gains tax 21%;

Tax at source when paying income:

  • Dividends - 0% / 7% / 35%;
  • Interest - 19%, the tax can be reduced in case of payment of income in favor of companies from EU member states, or having a current agreement regulating taxation issues;
  • Royalties - 19%, the tax can be reduced in case of payment of income in favor of companies from EU member states or having a valid agreement regulating taxation issues;
The minimum number of shareholdersOne;
The minimum number of directorsOne (an individual, non-resident or resident);
Nominal serviceAvailable;
Availability of information about owners and directorsInformation is public;

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