Europe is always an interesting market for foreigners to invest to. Some of the entrepreneurs coming to Europe know only the bigger countries and plan to establish their business there. But most of those countries have a complicated procedure for foreigners to establish their business there. And in some countries, business conduct is made difficult by overwhelming bureaucracy. This is why we advise choosing Slovenia for your next business destination. This article will point out the advantages the country has in comparison to others.
Choosing Slovenia, EU for your business destination – presentation of Slovenia
Slovenia is a central European country, located right next to Austria, Italy, Hungary and Croatia. It has around 2 million inhabitants and is spread over a little more than 20.000 square kilometers. The official language is Slovenian and the currency is EURO, like in most European countries.
It became a part of the European Union in 2004 and a part of the Schengen zone in 2007. Slovenia experienced a 5% GDP (gross domestic product) growth in 2017 and is considered economically stable. Its economic stability and geographic position are one of the best advantages when choosing your business destination in Europe.
Choosing Slovenia, EU for your business destination – the advantages of Slovenia
When choosing a business destination, it is important to weigh in the pros and cons. Slovenia is a member of both EU and Schengen which makes business conduct with other EU countries easier. Using the same currency as the majority of European countries prevents you from losing money when trading currencies.
Even though the official language is Slovenian, the majority of the population speaks at least one foreign language, which is mostly English. So when expanding to a new market it is always good to have the possibility to communicate in English as well so that you can directly oversee your business conduct.
Choosing Slovenia as a business destination is also good because of the country’s geographic position. It is located next to the sea and has access to international waters by port Koper. It also has good highway and airway connections to other European countries.
The corporate income tax is one of the lowest in Europe at 19%. There is also lots of skilled labor whom you can employ in your company if you need assistance from locals.
Choosing Slovenia, EU for your business destination – company establishment and business immigration
Slovenia also offers very simples processes of company establishment and business immigration. Non-EU citizens can establish an LTD company with 7.500€ founding capital. The shareholders and representatives need Slovenian tax numbers and the company needs a business address. The representatives and shareholders have to come to Slovenia for about 2 weeks to finalize company registration process.
Establishing a company also offers the representative the possibility to oversee their business by obtaining work and residence permit if the company fulfills certain conditions. After company establishment, the company has to choose one of the following conditions to fulfill:
Investment into fixed assets in amount of 50.000 EUR
There is one EU citizen employed in company for at least 6 months for full-time
Company shows turnover for every month for the last 6 months in amount of 10.000 EUR.
After fulfilling one of these conditions the representative of the company can apply for work and residence permit. Straight-forward procedures of business immigration are also one of the reasons why choosing Slovenia as your business destination is a good idea.
Choosing Slovenia as your business destination – Data offers support in company establishment!
If you plan on choosing Slovenia as your business destination, Data will be glad to offer support. We can obtain the Slovenian tax number on your behalf. You can also make company registration at our VEM/SPOT point free of charge.
Our legal advisors can assist you to understand the legislation for both business conduct as well as business immigration.
We provide services of accountancy to companies as well as tax consultation.
Should your company require a business address, we can provide services of virtual office.
For more information on choosing Slovenia as your business destination, you can write to our email [email protected]. You can also contact us over the phone 00386 1 6006 270 or 00386 40 530 718 (Viber, WhatsApp). You can also follow us on Facebook.