Company formation in Slovakia – temporary residence permit
Company formation in Slovakia - getting TRP (temporary residence permit in Slovakia) is not easy. Foreigner who wants to ask for TRP - temporary residence
permit can ask for this, when he starts doing business (company formation) in Slovakia.
We can send an invitation letter to European Union (Slovakia) if the clients need it. The invitation letter to Slovakia in the Schengen zone can be sent to corresponding consulate. This letter has to appear as an invitation to attend meetings or other relevant events matching trade, industry or work.
Getting TRP (temporary residence permit in Slovakia) starts with an application.
An application for temporary residence in Slovakia consists of an official form and all required attachments.
Application for temporary residence must be submitted in person at a diplomatic mission of the Slovak Republic accredited to the country where the passport of a third country national was issued or to the country of his/her residence. (If this is not possible or the case is worth special attention, the Ministry of Foreign Affairs of the Slovakia and the Ministry of Interior of Slovakia may empower another diplomatic mission of the Slovak Republic to accept and process the application.)
The diplomatic mission will interview the applicant for the purpose of preliminary assessment of the application. If a foreign national resides in Slovakia legally, the application may be submitted at the competent Alien Police Department according to the place of his/her residence in the territory of the Slovak Republic, which does not apply to a person who was granted tolerated residence, as his/her departure is not possible and his/her detention is inefficient, and to asylum seekers
Documents required when applying for temporary residence:
- Filled in application form
- 2 identical colour photos (3 x 3.5 cm)
- Fee stamp (as required for the relevant type of residence)
- Valid passport
- Document proving the purpose of residence
- Document proving clear criminal record
- Documents on accommodation
- Documents proving financial coverage
The third country national must enter the territory of Slovakia within 180 days after having been granted the temporary residence. Within 3 working days from arrival to Slovakia, the third country national must report the beginning of his/her residence at the Alien Police and within 3 working days from obtaining the residence document he/she has to conclude a health insurance policy. Within 30 days from obtaining the residence document, it is also necessary to submit at the competent Alien Police department a document on health insurance in Slovakia and a medical report not older than 30 days confirming that the third country national does not suffer from any disease endangering public health. In case of temporary residence for the purpose of business, the foreign national must also submit a Commercial Registry Extract within 60 days from collecting the residence document (if applicable).
Application for getting TRP in Slovakia
An application for getting TRP must be submitted on an official form issued by the Ministry of Interior of the Slovak Republic. The application form for temporary residence is available for download. Ask us to help you with getting temporary residence in Slovakia.
Purpose of getting TRP in Slovakia
Document proving the purpose of residence (business, employment, study, special activities, family reunion, performing professional duties by civilian units of the armed forces) – for example a business plan or trade license, work permit issued by a competent Labour Office, admission letter from a school, confirmation from a school or an educational facility documenting lecturing activity, a confirmation from an art, educational or sport organization on performing work, confirmation of intership, Certificate of a Slovak Living Abroad, Marriage Certificate or a Birth Certificate of the child. Contact us to help you with getting TRP in Slovakia.
Criminal record of person asking for TRP in Slovakia
A clean criminal record is proved by submitting a Criminal Registry Extract from the country of origin of the foreign national and a Criminal Registry Extract from the country where he/she resided in the last 3 years for more than 90 days during 6 consecutive months. If the country of origin of the foreign national does not issue such Extracts, it is possible to substitute it with an equivalent of the document issued by a judicial or administrative authority of the country of origin, or it may be substituted with an affidavit, which the third country national will make at a competent judicial or administrative authority or at a notary of the country of origin or of the place of his/her last residence. Proof of clear criminal record must document clear criminal record in the whole territory of the country that has issued the document (e.g. in the case of USA, a Federal Identification Record extract issued by the FBI is required; a national Identification Record valid only for the territory of one state is not sufficient). Proving clear criminal record does not apply to a foreign national who:
is applying for temporary residence as a secondary school student;
is applying for temporary residence for the purpose of performing professional duties by civilian units of the armed forces
foreign national with acknowledged long-term residence in another Union Member State,
is a foreign national younger than 14 years of age, or
is applying for temporary residence as a person with an acknowledged status of a Slovak Living Abroad, if submitting the application within 60 days from the issuance of the certificate of a Slovak Living Abroad.
The Criminal Registry Extract is not required even within a change of purpose or type of residence, in case the foreign national had submitted it together with the application for granting his/her previous residence.
Finances in for getting TRP in Slovakia
Stay of the foreign national in Slovakia must be financially covered in the amount of a statutory life minimum for each month of your residence (until July 2014 the sum of the statutory life minimum is EUR 198.09/month). It raises each year for about 20-30 euro).
If the length of stay exceeds a period of one year, it is required to prove financial coverage in the amount of 12 times the statutory life minimum (until July 2014 this equals to EUR 2377.08).
Financial coverage may be for example proved either by submitting a bank account balance confirmation in the name of the foreign national from a bank in the territory of Slovakia or from a bank in the country of origin of the foreign national (if the account is in a freely convertible currency), translated by a certified translator to Slovak language or a confirmation from the employer on the agreed height of monthly salary.
This is not applicable to a foreign national who is applying for temporary residence for the purpose of performing professional duties by civilian units of the armed forces and a foreign national with acknowledged status of a Slovak Living Abroad. A foreign national applying for temporary residence for the purpose of business must also prove financial resources to cover business activities by a business bank account balance confirmation amounting to 20 times the statutory life minimum in case of a sole trader and amounting to 100 times the statutory life minimum in case of an executive of a commercial company. Within 60 days from collecting the temporary residence document, the foreign national must also submit a Commercial Registry Extract, if entry in the Commercial Registry is required (this period may be extended by 60 days upon request of the foreign national).
Accommodation to get TRP in Slovakia
Document on accommodation must be issued for a minimum period of 6 months; in case the foreign national is applying for temporary residence for a shorter period, accommodation must be provided for the entire stay. If the applicant owns a property in Slovakia, the accommodation can be proved by the property title deed. If the applicant intends to stay in a rented flat or a house, he/she submits a lease contract (signature of the landlord must be authenticated by a notary) accompanied by the property title deed of the landlord. If the applicant plans to stay in a hotel, hostel or dormitory, he will submit a written confirmation given by the accommodation facility. If the applicant wishes to stay at his friends' or family, he shall submit their authenticated affidavit accompanied by their property deed title. This is not applicable to a foreign national who regularly crosses the state borders when commuting to work or school from a neighbouring state (Ukraine), a foreign national applying for temporary residence for the purpose of study, specific activities (students with scholarship granted by the Slovak government/activities within the EU programmes/fulfillment of the obligations of the Slovak Republic resulting from international treaties), or as a person who was granted a long-term residence in other EU Member State and, at the same time, is studying at a university, a foreign national who is applying for temporary residence for the purpose of research and development and a foreign national, applying to be granted a temporary residence of a Slovak Living Abroad. A document on accommodation of a foreign national who represents or works for an important investor in the Slovak Republic, his/her spouse and child, may be older than 90 days.
Company formation for getting TRP in Slovakia
If the client wants to get TRP in Slovakia by business purposes, he must to bring:
- A business plan along with expected expenses related to the commencement of business
- Trade Registry Extract
- Articles of Incorporation signed by all the founders (the signatures of the founders must be authenticated)
- Foundation Agreement or a Foundation Deed, where the applicant is listed as an authorised representative
- Slovak Commercial Registry Extract and notarially authenticated record documenting that the applicant has become an authorised representative
- Other document proving business activities in Slovakia (e.g. extract from the Register of Self-employed Farmers, or a license to exercise private medical or attorney practice)
How long will it take until the decision on the application?
The Alien Police Department or a diplomatic mission shall issue a receipt for the applicant, confirming collection of his/her application. Tme Alien Police Department will issue a decision within 90 days from the date of delivering the application (extension of the period by 30 days is possible only in complicated cases) or within 30 days from the date of delivering the complete application in case of foreign national who:
- is applying for temporary residence for the purpose of study
- is applying for temporary residence for the purpose of special activity
- is applying for temporary residence for the purpose of research and development
- is applying for temporary residence as a person with acknowledged status of a Slovak Living Abroad
- represents or works for a foreign investor in the Slovak Republic and equally is a citizen of the Organisation for Economic Co-operation and Development member state (equally in case of a spouse or child younger than 18 years of age of this foreign national)
- represents or works for a foreign investor in the Slovak republic and equally is a citizen of Organisation for Economic Co-operation and Development member state (equally in case of a spouse or child younger than 18 years of age of this foreign national)
- is applying for a Blue Card
We (as attorneys) help foreign clients to get TRP in Slovakia. Do not hesitate to contact us to get TRP in Slovakia now.
Documents submitted for obtaining residence permit for foreign managing director of limited liability company.
Document not older than 90 days confirming the purpose of residence, which is in this case as follows:
1. business plan in the same form as in case of application for a contribution for self-employment activity under the Act no. 5/2004 Coll. on Employment Services as amended,
2. document proving the business license of a national of the third country, which in this case means a certificate of business license or other authorization to conduct business under separate regulations or the memorandum of association on company incorporation signed by all founders (all signatures of the founders must be officially certified), where a national of a third country is stated as a managing director or extract from the Commercial Register together with the minutes of the General Meeting during holding of which the third-country national was appointed to be managing director of the company (in case of an existing company).
Document not older than 90 days conforming probity, which is:
1. extract from criminal records of the state of which a national is the proposed managing director,
2. extract from criminal record of the state in which a national of a third country during the last three years stayed more than 90 days for six consecutive months.
Document not older than 90 days proving the financial means to ensure the stay, which is a confirmation of the account balance with the bank in the name of the third country national. Account balance must be not less than the subsistence minimum for each month of residence and if the length of temporary stay exceeds one year, amounting to twelve times the subsistence minimum. Document not older than 90 days proving the financial means for business activity, which is a confirmation of the account balance kept with the bank established for business purposes in the amount of one hundred times the subsistence minimum (this account must not be the same account that proves the financial means for the stay).
Document not older than 90 days confirming the secured accommodation, which may be:
1. document of title or extract from the document of title of the land registry issued in the name of a third country national,
2. lease contract with the owner or user of the property and an extract from the document of title or other document evidencing the authorization to use the property
3. confirmation of accommodation facility on providing accommodation (e.g. confirmation of the hotel or hostel), or
4. affidavit of a natural or legal person on providing the accommodation to the third country national and the extract from the document of title or document evidencing the authorization to use property.
Pursuant to section 21 of the Act on aliens’ residence the temporary residence for the purpose of business is granted for the estimated period of business, but not more than for three years. Then the temporary residence is renewable for a further three years, and the process of renewal of the temporary stay is similar to that of the application for granting the temporary residence, including the submission of similar documents.
Confirmation of the tax authority on non-indebtedness of foreign affiliate
According to section 105b paragraph 1 of the Commercial Code a limited liability company can not be established by a person who has no tax arrears or arrears of duties. To demonstrate the compliance with this condition it is required the consent of the tax office of entry in the Commercial Register. The maximum tolerated level of arrears of taxes or duty for the issue of approval of the tax office of entry in the Commercial Register je EUR 170. Applicant is also a natural person resident abroad or a legal person having its registered office abroad, who is establishing a business company on the territory of the Slovak Republic.
If there is a foreign natural or legal person who is not a taxable entity under the Act no. 563/2009 Coll. on tax administration (Tax Code), as amended, the tax administrator will not issue an approval of entry of the company in the Commercial Register. However the tax administrator as a response to the request within five working days after the request of the person indicates that he is not a taxable person, and has no tax liability yet. It shall attach the given response of the tax administrator to the application for entry in the Commercial Register.
FAQ (questions and answers)
Do I need a business plan for my company?
Yes, you definitively need a business plan.
Is there any capital requirement for a sole trader company?if so how much and is it necessary for the amount to be locked in an bank or can withdraw it once I get my temporary permanent visa?
For registering company you need at least 5.000 eur bank deposit here in Slovakia, this money has to be on slovak bank account (if you want just buy ready made company from us, you do not need this deposit). You can withdraw the money after registration. For temporary residence permit you need to prove, that you have enough money to live in Slovakia (approx. 20-25 thousand euro).
Is there any obligation for employing someone?if so how many people?
No, you do not need anybody to employ.
Do I need to be physically present after I get my Temporary residence permit? if so how many days should I be in Slovakia in a year so that my residency can be renewed and extended?
Your personal presence is not needed for all the time. When you have temporary residence permit you can travel within Europe with no limitations. It is up to you, how long you will be in Slovakia.
If I want to buy and existing company, what is the range of investment time?
This is most of the time faster solution.
Is it necessary for the business to be active and making profit or can i Just pay minimum tax obligation and renew my residence permit?
There is no need to be active - it is not written in regulations, but they will certainly look at it.
How to start the company formation and TRP application? It means I should have to come to Slovakia?
It is no need to come to Slovakia. First we start with registration of the company. You sign documents in your home country.
What is the qualification required for company formation?
Qualification of shareholders is no needed.
How much share capital and minimum shareholders (Partners)
Minimum shareholder is 1 (one), minimum capital is 5000,- € for company.
How much the cost for TRP and company formation for all documentation?
It depends for how many people you want to get TRP.
JUDr. Milan Ficek,
attorney at law, Bratislava, in Slovakia