Overview
- Starting A Limited Liability Company
Foreigners may start a business in Slovakia. The process of starting a business in the Slovak Republic can be slightly challenging.
Entrepreneurs can expect to go through 9 steps to launch a business over 25 days on the average. They have to fill up the STANDARDIZED COMPANY Legal Form - Spolocnost s rucenim obmedzenym (s.r.o.) - Limited Liability Company and put a minimum paid up capital of SKK 200,000 (SGD10,000) and the forms are filled up in the capital city of Bratislava.
This involves going to several different departments and the entire process is best left to a specialised consultant to ensure compliance with proper procedures. In addition, the specialist may offer ways to work within the system peculiar to your line of business.
- Owning Land
Foreigners may own land in Slovakia, except for farmland. Slovakia is keen to have foreign investors come in on several types of real estate projects and where land ownership is a key issue. Thus, except for farmlands, foreigners have no other restrictions to land ownership.
- Capital Movement
There is no restriction on the remittance of capital or profits out of the country. Slovakia has one of the more liberal rulings with regards to this aspect.
- Other Issues
We are looking forward to answering any you may have with regards to doing business in Slovakia or to expand your business into Slovakia. In addition, if you were looking for business contacts in Slovakia or Central Europe, we would be in an excellent position to assist as well.
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