Relocate as entrepreneur

As an entrepreneur

Sole entrepreneurship in Slovakia (Živnosť) is specified as regular activity, pursued on own responsibility, for the purpose of earning profits and under the conditions stipulated by the Trade Licensing Act. One Sole Entrepreneur (Trader) may pursue several business activities, but may be required to have a Trade License for each of them. A sole Entrepreneur is personally liable for all debts run-up during his business activity in Slovakia, including all his assets and property.

In case you do not yet have a residence permit in Slovakia at the time of trade notification or you do not meet specific conditions for your business activity, you must appoint an Authorized Representative.

As a Sole Entrepreneur you are obliged to pay your Health Insurance from the very beginning of your business activity, as well as your Social Insurance contributions, which may be started from next financial calendar year.

Acquiring a Trade License does not always enable you to legally start your Business in Slovakia. You may also be required to obtain a temporary residence permit prior to the registration of your Sole entrepreneurship in Slovakia (Živnosť). Depending on your citizenship and type of your residence in Slovakia you may be additionally obliged to be registered in Slovakian Commercial Register.

You need to be registered in Tax Office of Slovakia and fulfill a yearly Tax Declaration regardless the fact whether you earn a profit from your business or not. Income Tax rate for Sole Entrepreneurs is 19%. You also obliged to run your own bookkeeping. As a foreigner (NON-EU) you should administer Double bookkeeping, as well as Record of incomes and expenditures.

This legal form of business in Slovakia is good for engineers, designers, IT-specialists etc.

If you would like to run your own business in Slovakia as a Sole Entrepreneur, please do not hesitate to contact us and we provide full a full service from documents collection to full registration in all Slovakian authorities.

You can find more detailed info in our BLOG section.

 

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