Slovakia is a mountainous landlocked country in the heart of the EU. Generally recognized as an open market economy, the country is quickly rising to become a central leader in European economic development. It’s regarded as one of the most investor-friendly places by WEF.

Its proximity to other member countries, fast-growing GDP, and well-educated workforce that’s available at low rates make Slovakia a very attractive location for foreign investors.

The scenic beauty of this little Slavic country is comparable to famous European destinations such as the Alps or the Dolomites. The Slovakian government realizes the great potential of the country as a major travel destination. As such, to accentuate the country’s appeal, the government offers tax relief on profits earned in the first five years to foreign investors who choose to invest at least 1.5 million EUR into the Slovakian tourism sector.

Other investment opportunities in Slovakia include forestry, textile, heavy industry, information technology, and agriculture.

Additionally, Slovakia’s skilled workforce is waiting to be employed by foreign investors who are considering setting up a lucrative business opportunity in the country.

If you’re interested, work with CompyCo to simplify the process of setting up a company and enjoying the business perks that await you in Slovakia.

Forms Of Companies In Slovakia
  • S.r.o. “spoločnosť s ručením obmedzením” —private limited liability company
  • A.s. “Akciová spoločnosť” —public limited company
  • K.s. “Komanditná spoločnosť” —limited partnership
  • V.o.s. “Verejná obchodná spoločnosť” —general partnership
  • “družstvo” —cooperative
  • “živnosť” —sole proprietorship
The difference between S.R.O. and A.S. in Slovakia

In Slovakia, the most common types of companies started by foreign investors are S.R.O and A.S.

In the Slovakian S.R.O., the amount of their subscribed shares is the limit of each member’s liability. The minimum share investment is 5000 EUR, and the company may have between 1 to 50 shareholders.

The Slovakian A.S. may have at least 1 shareholders, and the minimum share deposit is 25 000 EUR. Management and supervisory boards are also mandatory.

Fundamentals Of A Limited Liability Company

Corporate Tax in Slovakia

VAT in Slovakia



Fundamentals of limited liability companies in Slovakia
Limited liability company

spoločnosť s ručením obmedzenim- S.R.O

Minimum Share capital5000 EUR
Registered office requiredYes
Physical office requiredNo
Min. number of Shareholders1
Min. number of Directors1
Local Director requiredA minimum of 1 director has to be EU citizen
Other requirementsAll partners need to obtain police records from their country
Bank signatory must travelYes
Timescale for company formation4 weeks
Timescale for bank account opening7 days
Timescale for obtaining VAT number14 days
Statutory audit requirementsNo
Shelf companies availableYes
How can I set up my company in Slovakia?

It can be daunting to set up and run a company in any country outside your jurisdiction, especially if you don’t speak the language.

At CompyCo, we ensure that you have the guidance and assistance of a team of professionals who’ve helped countless investors set up companies in Slovakia.

Our professional team will begin by providing legal counseling and consultations to gain insight into your business needs and preferences. We will then help you determine the ideal company form for your business activities. Here are a few key steps:

You will be required to submit the following documents to start the company registration process in Slovakia

  • Details about the founders
  • Type of activity
  • Name and address
  • Details regarding the executives and the supervisory board.

The Commercial Registry must validate the name of the company, and all signatures must be notarized.

Certain trade licenses must be also be submitted, including an extract of the criminal record of the Executive, the Memorandum of Association, and proof of payment of the special tax. The trade license must be obtained before registration with the Commercial Registry.

The last step is to open a business bank account and obtain a VAT number. The entire application process can be done online and shouldn’t take longer than 2 weeks.

A country like Slovakia that’s on the rise offers great opportunities for interested foreign investors with its dedication toward economic development. The favorable business conditions, a politically stable climate with a flat tax rate, and a relatively simple process for setting up your company, Slovakia is ripe with investment opportunities.

With CompyCo’s vast network of professionals in the country, you can leverage the deep industry knowledge and insight at your disposal to make the best choices while setting up your business in Slovakia. We also specialize in guiding non-resident investors to remain in compliance with the country’s specific laws and regulations.

If you want to establish a company in Slovakia without having to travel, our representatives can be appointed as the Power of Attorney to represent your company’s interests and obtain licenses on your behalf.

Get in touch with our consultants to inquire more about company registration and opening a bank account.

Bank Account Opening

Slovakian banks are ranked as one of the most stable and secure financial institutions in the Eurozone. Regardless of the company type, having a corporate bank account in Slovakia can make your business operations easier, along with low interest rates on deposit forms. The country allows non-residents to open bank accounts with little to no restrictions.

Many international banks have branches in Slovakia, giving you a diverse choice to pick from. The first step to setting up your bank account is gaining approval from the bank; this depends on your country of origin, business activities, and the documentation you provide.

Opening a bank account as a non-resident is also easy as it requires a form of ID with your address in your home country and a resident permit for Slovakia.  

Our team of experts has worked with countless foreign investors, enabling them to choose the right banking services, preparing the necessary documents for them, and representing their interests.

Need more information about opening a bank account? Find out more about it here.

Accounting & Taxation

Here are a few accounting and taxation obligations to take into consideration:

  1. In Slovakia, the tax year corresponds to the calendar year.
  2. Financial statements, including a profit and loss account, and an annex and a balance sheet must be submitted to the Company register every year.
  3. All Slovakian companies must maintain books of the total payments received and expenses incurred, details of debit and credit, and total sales and purchases.
  4. There’s a flat income corporate tax rate of 21%on all net income for tax residents in Slovakia.
  5. The standard VAT rate in Slovakia is 20%.
  6. A reduced rate of 10% applies to some types of goods
  7. All invoices issued by Slovakian traders must contain specific VAT information, such as the VAT number of the supplier, the VAT rate applied, and the amount of money collected as VAT.
  8. Companies are issued VAT numbers with the format of the country code SK, followed by a 9-digit number, ending with a letter.
How can you employ staff in Slovakia?

Hiring capable and qualified employees is one of the best ways to ensure that your business progresses. However, setting up a business in a foreign country with limited knowledge about the workforce can pose a serious challenge for your business. In addition to that, ensuring that you comply with the local employment requirements of the country is essential to successfully hiring and retaining employees.

That’s where CompyCo’s HR experts come in. With a vast knowledge of the intricacies of the legal requirements, we can help you hire the top talent for your company without facing any hassle.

Tap into Slovakia’s highly-skilled, and expertly trained workforce that offers cost-effective solutions and a work ethic to match! We provide comprehensive HR and payroll services to help your company make the initial hire and continue to provide assistance through the employment cycle.

We also assist you with employment agreements, payroll services, recruiting new employees, obtaining work permits, and a range of other employment solutions.

Have any more questions? Take a look at our HR services page for more information about our International HR services!

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