Today, Slovakia is the most loyal country for business emigration among all EU countries. In Slovakia there is a large number of well-known automobile plants, agriculture is developing, there are offices of world IT leaders. Since the country’s population is quite modest – only 5.5 million people, and economic growth is at a high level, the country still loyally treats business immigrants in order to saturate the economy with professionals and attract investment. Everyone has the right to register as an entrepreneur or open his own company in Slovakia, and on the basis of this, obtain a RESIDENCE PERMIT.
Business residence permit (company or self-employed)
The main advantages of business emigration to Slovakia:
● The cheapest way to get a residence permit in an EU country within 3 months.
● Ability to conduct business or work officially in Slovakia, as well as throughout the EU.
● Low taxes (19% of net profit for individual entrepreneurs, 21% of net profit for a company).
● Simplicity and security of business. In Slovakia, laws really work, there is no complicated bureaucracy.
● Loyal attitude in all public services.
● The possibility of obtaining a mortgage at 1.29% per annum for 30 years.
● The possibility of family reunification at the same time as obtaining a residence permit by an entrepreneur or director of a company.
● Family safety. Slovakia is a very calm, non-conflict country.
● Minimum requirements for extending a residence permit.
● After 5 years, the entrepreneur and his family receive the lifelong status of the Permanent Residence (Permanent Residence), and after 10 years you can become citizens of Slovakia.
Slovakia Garant s.r.o. specializes in providing support services in obtaining a residence permit in Slovakia on the basis of entrepreneur activity or the opening / buying of a company. And we also provide accounting services for individual entrepreneurs and companies, according to the requirements for extending a residence permit.
What to choose: entrepreneur or company?
All people who have decided to emigrate on the basis of a business to Slovakia are wondering “Which legal form to choose for doing business in Slovakia? Which is better: an entrepreneur or a company? ”In the following table we show the main advantages and disadvantages of individual entrepreneurs and companies in Slovakia:
| Items | entrepreneur (živnostník, podnikateľ) | company (spoločnosť) |
|---|---|---|
| Conditions for obtaining a residence permit | The presence on the company account of 5,000 euros, on a personal account of 2,600 euros. | The presence on the company account of 22,000 euros, on a personal account of 2,600 euros. |
| Conditions for prolongation a residence permit | Taxes paid in the amount of not less than 300 euros for the reporting year; availability of a personal account of 2600 euros | Taxes paid in the amount of not less than 3500 euros for the reporting year; availability of a personal account of 2600 euros |
| Taxes and Deductions | 19% tax on the income of individuals; if the previous year's turnover exceeds more than 5,400 euros, social and pension contributions must be paid in the amount starting from 150 euros/month; compulsory deduction for insurance 68 euro/month. | 21% income tax; 7% - withdrawal dividends. There are no social and pension contributions, if there are no employees. |
| Tax Bonuses | 250 euro per annum/per child | NO |
| Ease of access to funds | You can withdraw or deposit money without restrictions. | You can only move assets through the withdrawal of dividends, or through administrative expenses that need to be documented. |
| Number of directors | Only entrepreneur | Up to 50 pers. in 1 company |
| Number of employees | No limits | No limits |
| Liabilyty | responds with all his possessions. | The company has limited liability only for its assets and share capital. |
| Restrictions on operating in the EU | There are no restrictions in the presence of the certificate of the payer of the VAT. | There are no restrictions in the presence of the certificate of the payer of the VAT. |
| VAT payer | Voluntary at any time, or mandatory in excess of the turnover of more than 50,000 euros per year. | Voluntary at any time, or mandatory in excess of the turnover of more than 50,000 euros per year. |
| Additional benefits | Fewer requirements for extending a residence permit. The compulsory insurance of 68 euros / month covers both the entrepreneur and all his children. | High status and solidity of a European company. At high turnover total taxes are less than entrepreneur. |
| Whom is suitable? | For small businesses, for example: hairdresser, cleaning services, retail trade in ice cream, coffee, etc. And also for employees who work with the employer under the agreement. | For any business with high turnover. |
If you have already decided which status for doing business in Slovakia is more acceptable for you, then we will consider the list of documents necessary for obtaining a residence permit on the basis of entrepreneur or a company:
● Application for obtaining a residence permit in Slovakia filled out in the Slovak language (download the application form);
● Passport with open visas D (for countries with a visa-free regime – only a biometric passport);
● Statement of the presence/ absence of conviction with apostil;
● Inquiries from the bank about the availability of funds: for individual entrepreneurs – a company account of 5,000 euros, a personal account of 2,600 euros, for a company – a company account of 22,000 euros, a personal account – 2,600 euros;
● Registration in the territory of Slovakia;
● Certificate of the entrepreneur or statutory documents of the company;
● Two color photos 3 x 3.5 cm.
All documents at the time of filing for a residence permit must be no older than 90 days, this is important!
It is quite difficult to assemble this package of documents on your own, there is a high probability of making mistakes, because of which they will not accept an application for a residence permit. Moreover, an independent collection of documents can be much more expensive (an article about this) than the services of a Slovak consulting company that will make it “turnkey”. Our company Slovakia Garant professionally provides services for the collection of documents and obtaining a residence permit in Slovakia “turnkey”. Our services for obtaining a residence permit are formed in packages. All prices for services are on this page of the site.
What exactly is included in the package of services:
● registration of the entrepreneur or company; entry into the Trade and Liven register;
● official translation into the Slovak language of all necessary documents;
● providing a legal address for the entrepreneurship/company for 1 year;
● opening a personal and corporate bank account, receiving account statements;
● accompaniment to a notary for certification of signatures; escort to the police when filing documents for a residence permit;
● occupation of the queue at the police from the evening of the previous day when submitting documents, the client arrives in the morning just before opening;
● escort for a special medical examination for foreigners; sending a medical report to the police;
● escort to the insurance company for registration of medical insurance; registration with the health insurance fund; sending insurance confirmation to the police;
● preparation for the interview in the police for foreigners;
● escort to the police at possible additional interview;
● preparation for applying for a visa D, assistance in filling out an application for a visa (for visa countries with the EU);
● consultations on starting a business in Slovakia, meeting with reliable specialists: realtors, lawyers, accountants, fin. consultants, car dealers, and other useful contacts that will help in opening and running your business;
● the provision of the director at the time of registration of a residence permit; production of the company stamp – for company.
Additionally, the client independently pays for notarial services to certify signatures, state fees for applying for a residence permit, special medical examination for foreigners and registration if necessary. A detailed list of payments and amounts are listed on the page.
Apply for a residence permit for family reunification at the same time as the main Guarantor.
To start the process of obtaining a residence permit you need to send us the scan of passport and Statement of the presence/ absence of conviction with apostille. Next, we’ll do everything ourselves: we will register for you the entrepreneurship or company, set in Slovakia (if needed, if you do not own or rented accommodation), we will prepare all permissions and documents. We will constantly keep you informed of all processes. When you arrive, we’ll take you “by the hand”, and will accompany you to all required organizations. You do not need to worry about anything.
Our company will do everything to make the process of obtaining residence permit as fast (and pleasant) as possible. If you still have questions, do not decided what to choose entrepreneurship or company – contact us (contacts are at the top of the website), or fill out the request for a call back. We will carefully listen to you, advise, and recommend the solution that best suits your needs and expectations.
If you have any questions, you still haven’t decided what to choose an individual entrepreneur or a company – write us in any way on the contacts at the top of the site, or fill out an application for a callback. We will attentively listen to you and advise a solution that will best suit your needs and expectations.
Slovakia Garant s.r.o. is focused on long-term relationships with customers. We will advise and we will do everything to start your activities in Slovakia.
Satisfied customers are the most important indicator of our work.