Epidemic of COVID-19 and its effects on starting a business in Slovenia

Epidemic of COVID-19 and its effects on starting a business in Slovenia

As the outbreak of COVID-19 is a worldwide pandemic, it affected business in Europe and everywhere else. As the good news is that in most European countries, the outbreak is calming down and business is resuming. Slovenia is one of the countries that adapted better than other EU member states and can already loosen the restrictions. But how did the epidemic affect business start-up in the country? What possibilities do foreign entrepreneurs have when starting a business in Slovenia?

Are you a business owner in Slovenia or looking to register a company here? Are you having trouble understanding what is best for your business? Apply for our free webinar on company registration and business immigration!

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Call our experts on +386 1 6006 270, Viber/Whatsapp +386 40 530 718 or write to us on  data@data.si

Data d.o.o. has been offering support to entrepreneurs with business in Slovenia for 30 years through company registration. Currently we can also provide our support in company registration remotely. We also provide professional accounting services . Additionally, we also have a specialized legal department that supports business owners with every aspect of business Slovenian legislation. They can also assist you in implementation the government measures that the state offers to entrepreneurs during coronavirus epidemic. We also follow the novelties that the state enforces to support the economy and can offer consultation. You can also follow us on Facebook.

Epidemic of COVID-19 – how did it affect starting a business in Slovenia?

Even during the epidemic both locals and foreigners can register a LTD company in Slovenia. The registry court operates more or less normally and hence registration is possible. As registering a company requires signing the company documents either at the notary or at a licensed VEM point, the first obstacle the epidemic posed was how to visit the VEM point in Slovenia during the epidemic. To enable investments in Slovenia, the government allowed VEM point consultants to prepare the documentation for company registration online. This is possible only during the epidemic and online identification is still required.

Even before the epidemic you could obtain the documents for company registration, like tax number for shareholders, without your presence if you authorized another person to obtain it. Obtaining tax numbers and reserving company name through authorization is a service we also provide at Data d.o.o.

Another step required the shareholders to visit Slovenia – opening the bank account. The Law on preventing money laundering and financing terrorism mandates that banks make personal identification of the shareholders and representatives when opening a corporate bank account. Due to the epidemic, the government gave permission to banks to make the identification through video conference. As this is only a guideline, the banks can decide whether to implement this option or not. Mostly it also depends on whether they have the required technology to do so.

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Which procedures of company registration did not change during the coronavirus outbreak?

If you plan on expanding your business, you can also decide to open a branch office instead of a new company. The registration of a branch office did not change during the coronavirus epidemic because it is the only company type that could be registered completely remotely even before the epidemic. As a branch office does not have share capital, it also does not require a bank account during company registration. Because of this, the company registration can proceed based on authorization. Although, only a notary can register a branch office but you can decide to authorize Data d.o.o. and we can complete the branch office registration based on authorization.

Are you considering opening a company in Slovenia and buying real estate? Apply for our free webinar on this topic here:

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Do not miss the unique opportunity to learn about company registration and support of company DATA with business in Slovenia! Contact us to for more information. Send us an email to data@data.si. You can also call us on +386 1 6006 270, Viber/Whatsapp +386 40 530 718 or skype data.business7.

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