Are you interested in starting a business in Europe but have not yet chosen a destination? In this article we will present to you, why Slovenia is a good choice to establish your new business.
Excellent location as one of its main advantages
One of the main advantages to establish a company in Slovenia is definitely its location. It is located in Central Europe, next to Austria, Hungary, Croatia and Italy. You can reach any of these countries from Ljubljana within an hour of driving. It also has good airport connections and it accessible by train and bus as well. Slovenia is also a member of the Schengen zone, which is important as it offers a borderless entrance to other EU countries.
Good economic standing
Slovenia has seen some good economic growth in the previous years. Its gross domestic product (GDP) is 43.278 million EUR and has grown for 5% in the previous year. In the previous year, exceptional growth of export was reported (10,6%). This is also due to the foreign interest in Slovenia, good export structure and improved competitiveness of companies. A good factor for improving economic growth was also better private consumption and revived investments.
In the past year, there has also been improvement in employment, as many companies report on the lack of skilled labor force. The average salary has also grown by the end of the year but remains moderate. This year, the country also experienced the lowest unemployment rate after the crisis – for the first time after 2009 it is below 6%.
Easy process to establish a company
If you are an entrepreneur establishing a company in a foreign land, it is vital that the process of company establishment is very straight forward. In Slovenia, a person of any nationality over the age of 18 can establish a company. If you are a non-EU citizen, you can establish an LTD company in Slovenia and start your business in Europe.
For that you would only need a Slovenian tax number, business address in Slovenia and founding capital 7.500€. You would need to come to Slovenia personally for 7-10 days to finalize the process of company registration. Within that time, you make the act of establishment and open a bank account. After receiving the court’s official decree, your company can start business conduct.
Why invest in Slovenia?
As mentioned above, Slovenia has a good geostrategic position which offers you the opportunity to easily connect with other EU countries. It is rich in natural resources, which countries that have a high population grown, lack. As English is spoken in most parts of the country amongst the public, it is easy for foreign entrepreneurs to fit in and make new business connections. Also, investment incentives are available and Slovenia can pride itself with corporate income tax of 19%, which is the one of the lowest rates within the OECD members. Also, the legislation allows foreign entrepreneurs a straight forward possibility to relocate to Slovenia and oversee the business by the possibility to do business immigration to Slovenia.
There is good possibility to invest in the food industry because of the abundance of natural water, salt, honey and dairy products.
As forests represent 66% of the national territory, there is a good possibility to invest in forestry business and export of wood. Because of the growing popularity, the interest in tourism in Slovenia has increased.
As there is an overflow of tourists, this area is also good to be used as a business venture – the possibility of construction of new accommodation sites, luxury wellness, casinos and also renting real estate to short-term and long-term visitors.
As Ljubljana was the “Green Capital of Europe” in 2016, there was also an increased interest in green technology over the last years. The whole EU is moving towards being an eco-friendlier continent and Slovenia does not want to stay behind. Many companies are looking to improve the possibility of a greener waste-management, to increase ecological awareness and improve production strategies.
Establish a company in Slovenia with the assistance of Data!
Here at Data we can offer you full support when it comes to company establishment. We can obtain all necessary documents to register a company. You can also make the company registration at our office.
We also offer accountancy services and tax consulting. If you do not have a business address, Data can offer you services of virtual office. Should you need a better understanding of Slovene legislation, our legal department can help you. Data also has specialists offering support in the process of business immigration to Slovenia.
For more information about company establishment in Slovenia, you can write to our 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.