Residence permit with further permanent residence on the grounds of a firm or private business

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For the citizens, who want to get residence permit in the EU with the possibility to obtain permanent residency in Europe, we recommend to pay attention to the possibility of obtaining residence permit in Slovakia on the grounds of company or individual entrepreneur. Stable economic situation, reasonable tax rates and assistance of government bodies in the development of small and medium-sized enterprises make Slovakia one of the best countries for the development of business activities.

The most popular way is immigration on the grounds of entrepreneurial activity. You can choose between two types of enterprises – LLC (s.r.o.) and Individual Entrepreneur (živnosť). In case of setting up IE (Individual Entrepreneur), the application documents for the residence permit in Slovakia are filed immediately after the IE registration. In case of LLC, you choose the way of conducting activity – what you like more: buying readymade business or setting up your own – this will define the time of submitting documents for residence permit.

 

Business immigration allows not only secure your own business but also take care of yourself and your loved ones. Given that doing business, which is of benefit to the society of Slovakia, is a valid ground for obtaining residence permit, many foreigners prefer this particular option.

Our company offers assistance in processing and obtaining this type of residence permit. You just choose between the types of enterprises LLC (s.r.o.) and Individual Entrepreneur (živnosť). So why is doing business the ground for getting residence permit in Slovakia?

According to the current legislation of Slovakia, a citizen of Slovakia/EU or a foreigner can hold positions of the company director and do business. A foreigner must have at least residence permit in the country. Your family can submit documents the same day you do.

The procedure for obtaining residence permit on the grounds of company or IE:

  1. First of all, a special package of documents is prepared that will be submitted to the consulate/police. This includes a certificate of no criminal record. An accredited sworn translator translates it, together with all other documents in other languages (except for Czech), into Slovak.
  2. Then the constitutional documents should be notarized.
  3. Obligatory payment of the state duty.
  4. One of the most important stages is opening private and corporate bank accounts.
  5. Address, at which you reside in Slovakia, must be confirmed.
  6. Then the whole package of documents must be submitted to the police. After having considered your case and upon positive decision, a card will be given to you.
  7. A mandatory condition is to undergo medical examination. You also must get health insurance.
  8. Medical board certificate together with the confirmation of availability of health insurance are submitted to the police.
  9. Alterations made in the Trade register are confirmed by the extract, which is submitted to the police as well.

Getting residence permit in Slovakia fast on the grounds of company or IE

  1. Our specialists will help you get a certificate of no criminal record and translate it into Slovak.
  2. We’ll provide certification of all documents by the notary.
  3. Assistance in paying the state duties – save you the trouble of waiting in queues!
  4. Assistance in opening bank accounts.
  5. Support and representation of your interests at each stage of the process of getting residence permit, including police and other public institutions.
  6. Assistance and support in medical examination.
  7. Assistance in getting health insurance, obtaining the extract from the Trade register and confirming the address of your residence in the country.

In May 2016 the rules for residence permit changed in Slovakia, but it didn’t make this country less attractive for immigrants and tourists, it remains incredibly popular. Today moving to Slovakia is one of the best ways of immigration to the European Union in order to receive all European privileges and guarantees.

That’s how you can do business legally, travel legally, buying or selling property legally and work legally. The borders of all European countries will be open for you, because you’ll have a special approval document, confirming that you are a part of the European community.

Residence permit in Slovakia can be issued if:

  • You plan to run your own business in Slovakia and be at the head of it;
  • You are an applicant and plan to continue your study in Slovakia;
  • You want to find formal employment in Slovakia;
  • You are a participant of various programmes for sportsmen, art workers, etc.;
  • Within the framework of the family reunification programme.

In order to get a residence permit card, along with the possibility to do your own business, you’ll have to submit a package of documents to the relevant Slovak authorities, consisting of the following:

  • a special application, filled in according to the prescribed form;
  • document, certifying that you can do business in the territory of Slovakia, and compliance with all requirements established by the law;
  • statement of private bank account as well as of bank account created for conduct of business;
  • copy of a sales and purchase agreement or lease of real estate in the territory of Slovakia;
  • certificate of no criminal record, with apostille as prescribed by the law;
  • several photos;
  • copy of passport for travel abroad;
  • document, certifying payment of the state duty.

There must be at least two thousand and five hundred Euros in your bank account. Besides, we advise you to obtain insurance (you can do it in your native country too). There is no need to translate any documents prior to coming to Slovakia.

Residence permit in Europe is issued for a period of up to three years and in order to extend it in future you’ll have to report to the state on the average profit of your enterprise (net profit must be not less than one thousand Euros per month). Depending on the profitability of the company, the local authorities make the decision on the extension and term of extension of your residence permit.

You’ll also have to pay a tax, which is about 20% of annual profit of the company. The company must have an accountant, who will be responsible for preparing the required reporting. You are entitled to hire new employees, not only Slovaks, under the labour contract.

At the moment, the business climate is the most favourable in Slovakia, for foreigners as well. It is here that the tax rates are the lowest throughout Europe and officials are incredibly kind and loyal. There is no corruption in that form, in which it is manifested in other countries, and visiting government authorities means lack of bureaucratic obstacles. The state actively supports the development of small business and contributes to the attraction of foreign investors.

Our team will be happy to take care of all troubles connected with setting up your own business in Slovakia. We will not only help you to gather a package of all required documents, but we’ll literally go through the all stages of registering a company with you. Hurry up and sign for the consultation!

Obtaining residence permit on the grounds of Individual Entrepreneur

What are the entrepreneur’s duties?

The individual entrepreneur in Slovakia (živnostnik) must pay monthly charges on gross profit. In the first year you must pay only to the health insurance funds – 14% of tax base. Starting from the second year, there are also social charges added – 33.15% of tax base. There is minimum and maximum amount of tax base upon social charges.

When do you have to pay?

The payment of all charges is made by advance payment, however, only charges to the health insurance funds will be returned in case of overpayment. Social charges are to be paid from next year only if revenue for the previous year exceeded 4,078.68 EUR.

How is tax base calculated?

Since the computation of the tax base is complex, the entrepreneurs use special calculators, which are freely available on the Internet, for the calculation. Here is one of them: http://www.profesia.sk/cms/kariera-v-kocke/pracujem/mzdy/vypocet-mzdy/vypocet-odvodov-zivnostnikov/40370

For more detailed information please contact our specialists.