Citizens of third countries who are not citizens of European union may also undertake their business activity in Slovakia. If an alien desires to carry out business then he/she is under duty to be granted a temporary residence.
Temporary residence for the purpose of business activity is granted to alien in case he/she is currently running business or desires to run business activity as a sole trader in a form of natural person or to act on behalf of legal entity as a statutory representative. Temporary residence is granted for no more than three (3) years with the possibility to prolong.
To select an appropriate form of undertaking business activity
-► Formation of commercial corporation
Commercial corporation is legal entity formed for the purpose of undertaking business activity. Commercial corporation is especially constituted in a form of limited liability company which can be formed by at least one person. Alien may form limited liability company in Slovakia and become its sole associate and/or can participate at business activities as an associate in other formerly or subsequently made corporation.
-► Undertaking business activity on behalf of corporation
If an alien is to be a statutory representative of limited liability company, he/she acts on behalf of this company. A statutory representative is always natural person who may (or may not be) at the same time its associate. Before the alien is incorporated to act on behalf of company, the court shall examine if such person has been granted residence permit in Slovakia. Residence permit is not required if pertinent person is citizen of European Union or member state of OECD.
-► Undertaking business activity as a sole trader
Formation of a trade is the most common and less financially demanding way of obtaining the authority to run a business. Trade is a permanent business activity, undertaken individually, on its own behalf, liability and for the purpose of profit.
The process of granting temporary residence permit for the purpose of business activity
-► Before submission of temporary residence permit application
- summarization of all documentaion which constitutes the attachement to application
- alien is under duty to submit proper evidence which affirm the purpose of stay, no criminal record, enough finances, accommodation and health insurance
-► After submission of temporary residence permit application
- application is to be submitted in person before alien police in Slovakia based on valid visa or abroad before embassy
- the competent body considers the application and issues decision
-► after residence permit is granted
- the residence card shall be received and the process is completed upon submission subsequent evidence such as health appraisal and the extract from the Commercial register
Králik & Partners provides
- preparation of required evidence to submission of application
- law services and personal participation before alien police when applying for residence permit
- official translation of foreign documents
- estabilishment of registered seat of corporation
- receiving residence card
- representation of the client in all legal acts
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