Slovakia

Official Name: Slovakia

Capital: Bratislava

Language: Slovak

Currency: Euro

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The Slovak Republic was established in 1993 after the annexation of Czechoslovakia to the Czech Republic and Slovakia. It is located in the center of Europe and its political system is parliamentary democracy.

Slovakia is a landlocked country between the Czech Republic, Austria, Poland, Ukraine and Hungary. It covers an area of 49,035 square kilometers and is divided into eight large areas. With a population of 5.4 million, Bratislava is the country’s largest city and capital with 430,000 inhabitants. 86% of its population is Slovak. 87% of people have religious beliefs and 69% of the population follow the Roman Catholic Church.

Formerly a communist country, it underwent profound social change and massive economic reforms when it was forced to transform its centralized economy into a market-oriented economy. Slovakia’s economic development is considered very successful and is even considered to be the most successful development in the former communist countries. At the same time, Slovakia is one of the best emerging markets in Europe and a member of many international organizations.

The average gross national product of the Slovak Republic has a high growth and for this reason it has been called the Central European tiger. Educated and cheaper labor, low tax rates and a stable economy and the euro as the currency attract many foreign investors.

General Questions

What is Slovak residency through company registration?
This type of residency allows individuals to obtain residency in Slovakia and, in fact, the entire Schengen area by registering a company in Slovakia.

By obtaining a residence permit in Slovakia through company registration, you and your family will be able to work, live and study in all Schengen countries and enjoy full European citizenship rights.

Why choose Slovakia to stay in Europe by registering a company?
Obtaining European residency by registering a company (from any country) usually has its own complexities, limitations and requirements.

Do we have to live in Slovakia with this type of residence?
No. Obtaining a residence permit by registering a company in Slovakia is in fact obtaining a residence permit for the entire Schengen area.

What exactly is the process of obtaining Slovak residency by registering a company?
Registration or purchase of a limited liability company in Slovakia (Slovak limited liability companies are abbreviated as s.r.o or “Spoloènos s Ruèením Obmedzeným”).

What are the conditions for receiving this type of accommodation?
Being at least 18 years old and not having a bad record are the only necessary conditions for receiving this type of residence.

Unlike most other countries, employment and educational background, language qualification and initial capital are not required as a prerequisite for registering a company in Slovakia.

You just have to show that you have a good business idea (albeit small and simple) to start a business in Slovakia. In fact, you will not only become a Slovak resident by registering a company, but your business plan must also be approved by the Slovak government.

Do family members also receive Slovak residency?
Yes. All dependents (spouse and children under the age of 17) also receive Slovak residency from the outset.

Does migrating to Europe by registering a company in Slovakia also lead to permanent residence?
Yes. After five years of extension of temporary residence, you will be granted permanent residence. Temporary residences are usually issued for two years.

What are the conditions for extending your stay in Slovakia?
Pay the company’s annual tax (this tax should not be less than 3,500 euros per year)
Failure to commit criminal offenses Subject to these conditions, your residence will be extended and will become permanent residence after 5 years.

When can I apply for a passport and what is the value of a Slovak passport?
After 3 years of receiving permanent residence, if you are familiar with the language of Slovakia and Slovakia, you are eligible to receive a passport (citizenship).

What is the minimum capital required to obtain a Slovak residence permit by registering a company?
One of the positive features of this method is the possibility of obtaining a residence permit in Slovakia without investment.

In what areas can you do business with a registered company?
With your registered company, you can operate in a variety of fields, from opening supermarkets and restaurants to a variety of business activities.

For jobs such as healthcare and law, you need to have the relevant documents to get a work permit in Europe, which has its own process and is almost impossible.

Is it possible to operate throughout the EU with a registered company?
If you want to work with your Slovak company in another country (for example, to open a restaurant in Italy or Spain instead of Slovakia) you can easily do so.

Is it possible for several people to receive Slovak residency as managers of a company?
Yes. it is possible.

Are there restrictions on living in other European countries during the first five years (temporary residence)?
No. Not only can you travel to all Schengen countries without any restrictions, but you can work, live and study in other Schengen countries (with your family).

What are the limitations and problems of registering a company in Slovakia?
Pay at least € 3,500 in tax per year (for 5 years)
This number may soon be reduced to 1,800 euros for small companies. This law has not yet been finally approved.

The benefit of company registration Slovakia

Do not have any restrictions on living, working, traveling and studying in any of the Schengen countries
The process of obtaining European residency is easier and the company registration problems in Slovakia are low
More convenient cost than other methods of obtaining European residency by registering a company
Possibility to obtain Slovak residency without investment
No need to hire an employee registered in the company
No need to provide language and qualifications
Low cost of living in Slovakia compared to other European countries (if you want to live in this country)
Possibility to open a bank account in the whole EU
Possibility to buy property and cars in installments throughout the European Union
Low property prices in Slovakia compared to other European countries
Increased visas for Australian, Canadian, American and UK visas due to having a European residence card
No need to provide work history and insurance to obtain European residency through company registration
Possibility of having a successful business due to high economic growth rate, low inflation rate and high foreign investment rate in Slovakia
Ease of trading due to having a euro currency.

The disadvantage of company benefit in Slovakia

Lack of awareness and full knowledge of that country (most people register without prior knowledge and presence in this country)
Most people realize the high cost of this process after one year.
The Slovak Immigration Service is currently very strict about registering a company and its legal activities.
The small environment of this country and the saturation of companies in which foreign nationals have established.