Basic informations about the limited company in Slovakia

The most common type of company in Slovakia is a limited company (Ltd.).

First step for establishing Limited company (Ltd.) is signing of the memorandum or the social contract. The company incurred to date, which was registered in the Commercial Register. The incorporation has decided senior judicial officer in the so-called courts of another activity. The company may set up a companion, however, 50 members.

Limited liability company is a company whose capital are predetermined deposits associates.

A company with one shareholder can not be the sole founder and sole shareholder of another company. A natural person may be at most only three companies.

The company is responsible for the breach of its obligations with all property. The liability for the obligations of the outstanding amount of its registered capital in the commercial register. The value of the share capital must be at least 5 000 euros. Shareholder value contribution must be at least 750 euros.

Companion is required to repay the deposit under the conditions and time limits laid down by law or designated in the social contract, but no later than five years since the inception of the company or its entry into society, or the receipt of the commitment to new investment. Trade share is inherited. Social Contract can share business succession excluded, unless they are single-member company. Legatee, if not sole shareholder, may seek cancellation of his participation in court if he can fairly claim to be shareholders.

Shareholders have the right to request particular information from managers on issues of society and to inspect company documents.

The company creates a reserve fund at the time and in an amount determined by the social contract, if it does not have a reserve fund at the inception of the company, the company is obliged to make the net profit shown in the annual financial statements for the year in which the profit for the first time establish, and at least 5% of net profits, but not more than 10% of the capital. Bodies of the General Assembly and the statutory authority. The General Assembly is the supreme authority of the shareholders of the company. The statutory authority of one or more agents. The Managing Director may only be a natural person. Managers appointed by the General Assembly from among members or other individuals.

The Supervisory Board establishes, if so determined by the social contract. The Supervisory Board supervises the activities of agents inspected the business and accounting books and other documents and check the information contained therein, by the accounts that the company is obliged to draw up under special legislation and a proposal for the distribution or payment of losses and by their expression of the General Assembly, given to the General Assembly within the period specified a contract or otherwise annually.

To change the social contract requires the consent of all shareholders, except where law or social contract that authorizes the General Assembly, unless the law provides otherwise.

The company is repealed by the court on the basis of the shareholders of the reasons and under the conditions laid down by law, the social contract or the formation of the deed or in the articles. The company also terminated merger.