Minimum operating time of the business is not defined. Entrepreneurs often ask our consultants about it. There is no law, defining a minimum operating time. In other words, you can close a business at any time. The process is easier in case of an s.p. If you have an LTD company, you have to visit a notary. By the way, do you want to register company in Slovenia? Then call us on +386 40 530 718 (Viber/WhatsApp) for more information.
A sole proprietorship can open and close whenever
As mentioned above, there is no minimum, as far as the operating time of an sole proprietor (s.p.) is concerned. To clarify, an entrepreneur can open a business, operate it and close it whenever he wants. This is the case for both regular and part-time s.p.’s. Let’s look at an example. Someone wants to work on a project. They come to the DATA point to register a sole proprietorship. In such cases, they usually choose to determine the profits, based on standard expenses. When the project is over, they can close the s.p. If a new project comes along, they open it up again.
To repeat, there is no minimum operating time. An entrepreneur can open and close a company anytime. However, he has to meet some conditions. All of the tax obligations with the Financial Administration of the Republic of Slovenia (FURS) have to be settled. At any rate, the registration authority assigns a new business registration number. For every time a company is (re)opened. What about the costs? As a matter of fact, there is only one expense. That is the cost of the final report on closing an s.p. The entrepreneur has to send it to FURS. Usually an accountant prepares the report.
Whether you want to open an LTD or s.p., our experts are here to help. There is no minimum operating time for companies, so you can open one whenever you want! To talk to our business, legal or accounting consultants, contact us HERE.
Minimum operating time for LTD’s
A limited liability company also does not have a definel minimum operating time. However, there are time restrictions for the establishment of new companies. How? The Companies Act (ZGD-1) states that one cannot open a company, if they already opened one in the last 3 months. Here we are talking about limited liability companies. Part of this are also people who got a share of an LTD in the last 3 months. On the other hand, this does not apply to medium and large companies. Additionaly, inquiring a share through inheritance also does not count.
There are other possibilities of establishing a company in 3 months from establishing another one. That is in case the first company is actively operating. This means that:
- it has a working bank account;
- it was not listed as a tax defaulter in the last year;
- there are no unsettled debts to the state, exceeding €5o;
- at least one person was employed there, for part-time at least, for the minimum of 1 month.
Dear entrepreneurs! Since there is no minimum operating time for a company, do you want to open one? Do you have other questions about opening a company? Our business consultants will gladly help. Call us on +386 40 530 718 (Viber or WhatsApp). Write us an e-mail: firstname.lastname@example.org or fill out our contact form. Don’t forget to follow us on Facebook as well!