Numerous successful businesspersons consider that they cannot actively develop in their sphere in the CIS countries. That is why they transfer their assets to Europe whenever possible. Often foreign investors from all EU countries choose Slovakia.
Over the past ten years, the economic system in Slovakia has been actively developing, but at the same time, it has maintained liberal conditions for starting a business. It happens due to several advantages pop up, which cannot leave any entrepreneur indifferent. Here are some of them:
- First of all, the props of doing business in this country include VAT refunds and attractive income tax of 22%, which is a very democratic price. For example, in Austria, the same tax is 38%.
- One has to submit financial statements once a year - by December 31. This is an intuitive reporting system, which will make potential investors happy.
- Every year the business environment improves for the better. This statement appears from time to time in World Bank data.
- Slovakia is at the top of the list of countries with a simple system of international trade and registration of personal business.
- The Slovak government is purposefully attracting more and more investors. The authorities understand that the possibility of obtaining a residence permit or even citizenship will be an undeniable advantage for experienced businesspersons. That is why the government has reduced the number of documents required for obtaining a Slovak passport by entrepreneurs to a minimum.
Documents for business registering
Investors planning to settle in Slovakia will need to gather a list of documents for registering a private business. The list of documents is presented below:
- Certificate of absence of criminal record in the home country.
- Certificate of absence of criminal record on the territory of the Slovak Republic.
- The memorandum and articles of the company association.
- The international passport and birth certificate translated into Slovak.
- The certificate from the bank confirms the availability of sufficient funds in the bank account for the minimum authorized capital.
- The document confirming the legal address of the firm.
Opening a business in the territory of Slovakia brings several advantages. This means that a competent investor can create and successfully develop his business in the future, receiving the reliability, safety, and protection of rights with the huge European market in return.