If you are wanting to do business in Slovak Republic, reading this will help you becoming knowlegeable on the specific tax laws and rates for a LLC (SRO) which is the most common legal entity in Slovak Republic.
The country imposes corporate level taxation from outside the country separately than if it were attached to local operations. The prevailing standard rate for offshore tax, from our research, and these things do change, is 0%. The country does not have major incentives to transfer in income earned abroad earned outside the borders. Taxes are reasonable in Slovak Republic as the income corporate tax rate is 22%. This ranks Slovak Republic as 86th overall in terms of corporate tax rate worldwide. . .
The value added tax (VAT) rate in Slovak Republic is 20.00%, that ranks Slovak Republic as 86th overall in terms of VAT taxation rate internationally. In terms of other taxation, an employer will contribute 3,520.00% to the equivalent of a social security fund and an employee will contribute 13.40%. The overall complexity of the tax system is medium. This is measured by average time to comply with a country's labor tax requirements is as it is 62hours. Contributing to this is the number of yearly labor tax payments, which is 1 in SK.
Thin capitalization standards are in play. Thin capitalisation refers to any type of laws on companies' debt-to-asset ratios. Dividends are payments of an earnings of the business, decided by the board, to shareholders.Dividends can be issued as shares of stock, cash payments, or other property. The capital gains rate in SKis 0%. A capital gains tax is levied on the profits that a corporation or natural person realizes when he or she sells sells a capital asset for a price that is higher than the purchase price.
The interest witholding rate is estimated at 0This should be interpreted usually that the relevant tax authorities expects companies to pay tax on at least 0 of payments offshore for for interest payments. The dividends witholding rate is 0This should be interpreted usually that the relevant tax authorities expects to pay tax on at least 0 of payments offshore for on dividend payments. The royalties witholding rate 0 Which means that the tax authorities expects to pay tax on at least 0 of payments offshore for for royalty payments.
There is no known tax on wealth in Slovak Republic. There are no known inheritance taxes in Slovak Republic. There are commonly used R&D intitiatives that provide tax relief in this country.
The above is not tax or legal advice for your company's circumstances. We are able to to help you find to an expert in Slovak Republic who can answer all your questions. Contact us today. Click incorporate now if you are in a hurry, or press the free consultation button above.
It takes approximately 42 hours to file and prepare documents for a Slovakia Civil Law.
The corporate tax is approximately 22% which is 90 in the world.
Owners of a company in Slovakia are not allowed to carry back a loss and may be allowed to carry forward a loss for 7 years.
The vat rate in Slovakia is 20% which ranks 134 in the world.
When incorporating, you must look at the law in the country, in Slovakia is civil law law. You will want to get some local advice as to how to best structure a company in Slovakia. E-signatures are allowed.
The letters SK is for Slovakia and the most common company structure in Slovakia is a LLC(SRO).
The amount you'll have to wait is about 2 weeks to incorporate a LLC(SRO) in SK. The types of currencies you can use to setup your company is frequently legal tender.
Yes, one is allowed to re-domicile a LLC(SRO) from SK. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC(SRO) in SK by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is permitted, up to 100% of the ownership of the legal entity.
There is a requirement to have at least 3 directors. Furthermore, corporate directors are not permitted. Directors can have some expectation of privacy, as they are not disclosed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for a legal services company which can receive any official legal correspondance on behalf of the registered legal entity. Furthermore, a company secretary is not a requirement.
There is an obligation to file yearly tax returns. On that note, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Slovakia Civil Law is 2,500.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are not disclosed in the public registry of Slovakia, Ministry of Justice Business Register. Shareholders are disclosed in the Ministry of Justice Business Register.
Typically companies take 2 weeks to setup and there are 3 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Slovakia is a good option and have given it a score of 74 as an IO score, using the Incorporations.IO proprietary formula.
We can help you form a company in Slovakia. Click the button above for a no-obligation quote. We will provide you with all the necessary documents to open a bank account as well as a registered office in Slovakia, which is required by law.
