One of the more frequently asked questions we get from foreigners when they are establishing a company in Slovenia is what is the difference between a business owner in Slovenia and representative. In this article, we will be describing the difference between them to clarify any doubts.
Who is a business owner in a company in Slovenia?
If you have decided to start a business in Slovenia, you will also need to decide who will be the company’s business owner and who the representative. Each company requires at least one business owner and at least one representative.
A business owner or a shareholder is a natural person or legal entity, who provides the founding capital of the LTD company. It can be a natural person or in case of opening a subsidiary, a legal entity. There can be up to 50 shareholders in the company. The minimal founding capital they have to provide when opening an LTD company is 7.500€. The percentage that each of the business owners has to contribute depends on the decision what part of company each of the shareholders will own.
The shareholders do not represent the company but provide the initial funds for company establishment. They are also entitled to payment of dividends if the company has profit.
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What is the difference between a business owner and a representative of the company?
A representative of the company is a person in charge of making important decisions within the company. He/she is the person who also signs contracts within the company and oversees the financial aspect of the company. It has to be a natural person and cannot be a legal entity.
The representative can be the same person as the business owner or it can be a different person as well. There can be an unlimited number of representatives within the company. But it is easier to do business in Europe, if there are fewer representatives within the company as decisions are more easily made.
A legal representative does not partake in company ownership, unless he is also the business owner.
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