Legal forms of entrepreneurship

Entrepreneurship is a continuous activity carried on independently by an entrepreneur in his own name and on his own responsibility with the purpose of gaining profit.

You can do business either as a natural person or as a legal entity.

An individual can do business as

• a self-employed person on the basis of a trade licence
• a person conducting business on the basis of an authorisation other than a trade licence, subject to special regulations
• a natural person engaging in family farming and registered pursuant to a special regulation, the so-called self-employed farmer. 

It is also possible to do business as a legal entity, in particular, as:

• public trading company, limited partnership, limited liability company, joint-stock company and simple company for shares,
• cooperative
• a legal entity established under European Union law. 

A natural person with a residence or a legal person with a registered office outside the territory of the Slovak Republic is a so-called "foreign person". Foreign persons may do business in the territory of the Slovak Republic under the same conditions and to the same extent as Slovak persons. A foreign person must have an established company or organizational unit of the company in the territory of the Slovak Republic.

 

RELEVANT LEGISLATION

• Act No. 455/1991 the Trade Licensing Act
• Act No. 513/1991 the Commercial Code
• Act No. 530/2003 on the Commercial Register 
• Act No. 311/2001 the Labour Code
• Act No. 595/2003 on Income tax
• Act No. 222/2004 on the Value Added Tax
• Act No. 431/2002 on Accounting
• Act No.145/1995 Coll. on Administrative Charges
• Act No. 404/2011 Coll. on Residence of Foreign Nationals