Planning to obtain a residence permit and then a permanent residence permit, citizenship in Slovakia and/or establish your own business in the EU 
Then you should consider opening a company or sole proprietorship.
There are 2 main forms of doing business in Slovakia – sole proprietorships and S.R.O.’s.
S.R.O. is a company or firm. It is an analogue of the Ukrainian TOV and Russian OOO. A company can be founded from scratch or an existing S.R.O. can be acquired.
In what situations should you consider a firm rather than a sole proprietorship?
Perhaps the most decisive factor is your anticipated turnover. If you plan for it to be average or above average, then opening a company is your option. In the case of a small turnover, it is worth choosing a sole proprietorship.
S.R.O. requires a rather large start-up capital if you want to obtain a residence permit based on it. In such a case you must have at least 22.000 € in your account, whereas for a sole proprietorship this allowance is only 5.000 €.
We have also had clients who applied for a residence permit in Slovakia under a sole proprietorship. As the business developed, the turnover increased and there were already grounds for opening a company. As a result, the client became the owner of both a sole proprietorship and a company.
By the way, in such a situation, the extension of residence permit is based on a sole proprietorship. This means that it is possible to provide a minimum tax of 300 euros, not 3500 (if the residence permit was extended on the basis of a company).
There are advantages and disadvantages in choosing a sole proprietorship or S.R.O. to obtain a residence permit. Therefore, we with our clients first clearly define what are the goals, what turnover, financial possibilities, and then we already give recommendations on the basis of which it is worth to apply for a residence permit.
It is worth noting that registering a company in Slovakia does not oblige you to obtain a residence permit in the country
If you just want to run a business, it is possible to open an S.R.O. without a residence permit. Then you no longer need to have the mandatory start-up capital in your account and demonstrate a certain level of taxation to extend your residence permit.
We help you to register a company on a turnkey basis, as well as provide individual services – from document preparation and opening a Slovak bank account to consulting an accountant.
You can find out more about S.R.O. peculiarities, requirements for opening a company to obtain a residence permit, our services at 
https://slovakiagarant.com/kompanija-v-slovakii-pod-kljuch/.
