The s.r.o. is a popular choice for anyone who decides to do business through a legal entity.
Here is our guide to forming an s.r.o. and registering it in the Commercial Register.
After trade licences held by individuals, the limited liability company (“s.r.o.”) is the second most common form of business in Slovakia.
You must complete the following steps to have your s.r.o. entered in the Commercial Register:
- drawing up the founding documents,
- proving that you have no outstanding debts to the tax office and the Social Insurance Agency,
- obtaining a trade licence,
- paying up the share capital,
- filing the application for entry in the Commercial Register,
- incorporation upon entry in the Commercial Register.
Drawing Up the Founding Documents of an s.r.o.
An s.r.o. is founded by its founders drawing up the founding documents. The number of founders determines whether a deed of incorporation or a memorandum of association is required. A deed of incorporation is used where the s.r.o. is founded by a single founder; where there are at least two founders, a memorandum of association is used.
Forming an s.r.o. is not a simple process, but with the professionals at eTuls International SK s.r.o. you can manage it stress-free.
The memorandum of association or deed of incorporation of an s.r.o. must contain the following:
- the company’s business name and registered office,
- identification of the shareholders, stating the name and registered office of a legal entity or the name and address of a natural person,
- the business activities,
- the amount of share capital, the amount of each shareholder’s contribution and the amount paid up on incorporation, including how and by when contributions are to be paid (and, for non-cash contributions, their subject matter and the monetary value at which each is credited towards the shareholder’s committed contribution),
- the names, addresses and birth numbers of the company’s first directors and the manner in which they act on its behalf,
- the names, addresses and birth numbers of the members of the first supervisory board, if one is established,
- the appointment of a contributions administrator,
- the amount of the reserve fund, if the company creates one on incorporation, and the level to which and the manner in which the company must top it up,
- any benefits granted to persons involved in founding the company or in activities aimed at obtaining authorisation for its business,
- the company’s estimated costs associated with its formation and incorporation.