Many foreigners have thought about expanding their business to Europe. New entrepreneurs have also considered starting a new business here. Because choosing a destination to open this business is important, we are presenting why to choose Slovenia as your business destination.
Destination for business – why Slovenia is a top choice
The popularity of Slovenia has been growing in the past years. Due to the touristic value it poses, many foreigners have decided to travel to Slovenia and once they were here, they saw that it might be beneficial to expand their business to such a destination.
The geographic position gives Slovenia a big advantage. Because it is in central Europe and next to other renowned countries like Austria, Italy, Croatia and Hungary, it gives easy access to clients and suppliers in those countries as well. As it is also a part of the European Union and Schengen zone, doing business with other countries is easier. Slovenia also uses the EURO currency so there are no »lost funds« when receiving payment from other EU countries that also use this currency.
Its position next to the sea offers a gateway to international waters because of the port Koper. Slovenia also has international airports, railway connections and good highway connections to other countries. In Slovenia, most people speak English in addition to Slovenian, so communication is easier for foreigners as well.
Destination for business – opening a company in Slovenia
In addition to other advantages, opening a company in Slovenia is a very straight-forward process. If you would be opening a new LTD, you can have it established in 10-14 days. All shareholders and representatives need Slovenian tax numbers, founding capital 7.500€ and a business address in Slovenia for the company. Then the shareholders and representatives have to travel to Slovenia to make the company registration and open the bank account for the company. Once the company is established you can proceed to doing the business you have decided on when choosing Slovenia as your destination.
Destination for business – expanding your existing business to Slovenia
Seasoned entrepreneurs can also expand their existing business when choosing Slovenia as a business destination. If you already have a LTD company abroad, you can register a subsidiary or a branch of your company.
For the subsidiary you would also need to come to Slovenia to make the company registration. It also requires founding capital 7.500€, which the parent company has to provide. In addition to the representatives, the parent company also has to obtain a Slovenian tax number. Then like with the new LTD, the subsidiary needs a business address in Slovenia. Also, with the subsidiary, the company registration is usually done within 10-14 days. A subsidiary can register different business activities and not only the ones that the parent company has registered.
Opening a branch office does not require your physical presence in Slovenia and can be done by power-of-attorney. The registration is carried out by the notary and takes about 14 days from submitting the full documentation with the notary. The branch office is also the only company type that does not require having a bank account on the territory of Slovenia. This is because it is not an official legal entity but rather a part of the parent company. This is also why a branch does not require founding capital. But it means that the branch has to register the same business activities as the parent company as it is only an extension of the main company.
Destination for business – possibility of business immigration
Choosing Slovenia for your business destination would also give you an easier possibility to apply for business immigration if they need to oversee their business.
While being owners of the company does not give you the right to apply for business immigration automatically, fulfilling conditions of active business conduct enables you to apply for business immigration as a representative. It also gives you the possibility to employ other non-EU staff in the company. The first possibility for business immigration is to invest 50.000€ to fixed assets of the company. If you do not plan to spend this money in one go, you can opt for the other two possibilities – employing an EU citizen for 6 months on a full workday or having company turnover 10.000€ each month for 6 consecutive months.
Data can help if you decided to choose Slovenia as your business destination!
Experts at Data would be happy to offer you full support if Slovenia is your chosen business destination. We can assist you to obtain the tax numbers. You can also register your company at our One-Stop Shop (VEM/SPOT point).
Our accountants can assist you with business conduct. They will make sure that your company’s books are in accordance to Slovenian accountancy standards.
Data also has its own legal department, which can assist you to understand Slovenian legislation when conducting your business activity.
We can also offer services of virtual office, should your company need a business address.
If you are considering Slovenia as your business destination, you can write to us on 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.