Advantages: Suitable for small businesses, ability not to pay taxes for the first year (except for compulsory deductions for medical insurance). Money can be cashed without such restrictions as in s.r.o. Accounting is cheaper than for s.r.o.

Disadvantages: Entrepreneur is responsible for his / her actions with all of his / her assets. It is impossible to add several founders and directors to the company. It is impossible to apply for a mortgage on the legal entity. With large profits (starting with approximately 10,000 euros per year), taxes would be larger than for s.r.o. To open an individual entrepreneurship, foreigners (prior to obtaining the residence permit) must have a trustee with a temporary or permanent residence permit.

Necessary steps:

1. The certificate of entrepreneurial activity, obtained after the successful opening of an individual entrepreneurship in the relevant institutions of Slovakia. To open an individual entrepreneurship, you need a legal address (the average cost is 150-200 euros per year). We advise you to buy it from a responsible person who will confirm the information about you to the police during police check.
2. A completed application for the 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 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 the case you rented an apartment at a hotel, only confirmation without a certificate from the cadaster is sufficient. The price for providing the confirmation of accommodation starts from 280 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, but 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 Business. Account statement from a bank with the amount at least 4 000 euros (this is a 20-x amount of the minimum subsistence level in Slovakia, for 2018 it is 198.09 € per month). The certificate must be from an entrepreneurial account opened in a Slovak bank.
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 individual entrepreneurship is considered up to 90 days.

Cost of our services: 1700 euros. The cost includes: obtaining the entrepreneurial certificate, registering in the commercial register, a trusted person’s service for 4 months (is needed for foreigners to get a residence permit), opening an account with a Slovak bank, collecting all documents and certificates, drafting statements, escorting to police for applying and interview, escorting for mandatory medical inspection after receiving the residence permit and reporting their results to the police, consultations on general and business issues.