Advantages: Suitable for medium and large business. Possibility to add several co-founders and directors. Possibility to apply for a mortgage on the company. The founders do not bear financial responsibility with all their property.
In general, it gives more opportunities for doing business.

Disadvantages:
Financially – this is the most expensive kind, it will only be profitable if you use all the features and benefits of Ltd. The company’s profit can be cashed only through a salary, bonus or dividends, with the payment of taxes on the deduction amount. Accounting is more expensive than in the case of individual entrepreneurship. To extend the residence permit for the next year/time period, s.r.o. should show to police at least 12 thousand net profit per year.

Necessary steps:

1. In case of applying for RP with a nonexistent company:
   – a business plan (120 euros) and a memorandum of association signed by all participants.
   – In case of buying an existing company: a certificate from the trade register. To open Ltd. you need a legal address, we advise you to buy it from a responsible person, who will confirm the information about you to the police during the check. The cost of the legal address is usually 200 euros per year.
2. Completely filled application for a residence permit
3. State fee in amount of 232 euro (paid at police station).
4. Two color photos 3 x 3.5 cm;
5. A certificate of non-conviction with an apostille (superlegalization) from the home country and from the countries where the applicant lived at least 90 days for six months during the last 3 years, translated into Slovak by an authorized interpreter. The certificate and apostille (superlegalization) are made in the country from which the certificate has been issued and translated into Slovak language by a licensed state interpreter (the price is 23 euros per page).
6. Confirmation of accommodation in Slovakia. Should be given in a form of a notarized statement from the owner of the apartment which is handed over to you, and a certificate from the real estate cadaster for this apartment. In case you rented an apartment at a hotel, only confirmation without a certificate from the cadaster is sufficient. The price for providing a confirmation of accommodation starts from 300 euros.
7. Statement of financial guarantees for Person. Account statement from a bank with the amount at least 2400 euros (per person per year). The statement could be from a Slovak bank or from the country of residence, in that case it should be translated from a foreign language to Slovak language by a licensed state interpreter (the price is 23 euros per page).
8. Statement of financial guarantees for Company. Account statement from a bank with the amount at least 20 000 euros.
9. After receiving the residence permit card, within 30 days you must pass a mandatory medical examination and report it to the police. The cost of medical examination is 198 euros.

Application for the residence permit for s.r.o. owner is considered up to 90 days.

Cost of our services: 1800 euros. The price includes: opening s.r.o. in all relevant institutions, including the state duty, opening an account in a Slovak bank, collecting all documents and certificates, drafting statements, escorting to police for filing and interviewing, escorting for medical inspection after obtaining residence permits and reporting their results to the police, consultations on general and business matters.