For the past two weeks we have been writing a series of articles about the consequences of purchasing shelf companies in Slovenia. Today, we are concluding the series with the last article. It will cover the dangers of purchasing shelf companies and taking over the previous owner’s debt.
Shelf companies in Slovenia – acquiring the previous owners’ debt
When buying a shelf companies, you also obtain the company’s debt. It means you can unknowingly purchase a company in order to start business conduct but then see that the previous owner has made a lot of debt, which you as a new owner now have to cover. So, paying a few hundred euros for an existing company might result in having unforeseen expenses. But with establishing a new company you are absolutely sure that it has a clean history.
In the first article of the series, we have already explained that when purchasing shelf companies, the new owner does not have to deposit the founding capital 7.500€. But this is not entirely true – as a new owner, you actually acquire the debt of the missing founding capital. The first owner has deposited the founding capital when he established the company. But before selling the shelf companies, the first owners withdraw the founding capital under loan agreement. Then when you purchase the company, this debt transfers to you as a company is capitally inadequate without founding capital.
Shelf companies in Slovenia – acquiring the previous owners’ restrictions
Another problem may arise when purchasing shelf companies. As you cannot check in detail about the company’s previous business actions prior to purchase, it may happen that you are in fact purchasing a company with certain restrictions. Some shelf companies have received fines in the past and now can have certain restrictions for business conduct. For example, they might have restrictions in employing foreigners if they have violated the Law on foreigners in the past. If they have this restriction, you would not be able to apply for your work and residence permit and also employ other foreigners, if needed.
Rather than buying shelf companies, open a new company with the assistance of Data!
If these articles have helped you to decide to open a new company rather than buying a shelf company, you can turn to Data for assistance.
We offer complete support with company establishment and obtaining all necessary documents for company establishment.
You can also register the company at our VEM/SPOT point free of charge. We can also help you to organize the meeting the chosen bank where you would open your corporate bank account.
Our legal department can assist you to prepare contracts or understand Slovene laws better. The department for foreigners will be happy to offer you support in the process of business immigration to Slovenia.
If you will need help with company establishment in Slovenia, contact us! Write us an email to: [email protected]. You can also contact us via phone: 00386 1 6006 270 or 00386 40 530 718 (Viber, WhatsApp). You can also follow us on Facebook.