Your company in Slovenia – can there be more than one person involed?
Your company in Slovenia is something you can establish alone. The company can also have more owners. They can be legal entities or individuals. Once you choose your business idea, you can start your path for your business in Europe. But you will have to decide on the company type you will open. It can be a limited liability company or you can become a sole trader.
Starting a business is a simple process, but doing business is something else. In the initial stage, it is good to think about all the details. Also, it is important to decide who the founders of the company will be.
How many owners does your company in Slovenia need?
There is no such thing as a perfect number of founders. If a business idea is the passion of one from the start, it will be difficult to get a co-founder to warm up to it in the same way. In such a case, it is good to consider to register as a sole trader. Here, only one person is the owner, but of course it can employ workers. You can later also decide to transform it to a LTD company.
If the sole trader is a foreigner, they have to be either EU citizen or live in Slovenia at least 1 year before that.
When establishing your company in Slovenia, you need to choose the company name and addres of the company. Also, you need to include activity (s), and set the amount of share capital. Also, you would need to open a bank account and decide who will be the owner of the company. Although the team initially works in a coordinated manner, this can change once the business idea is put into motion and the company starts working. There can be disagreements between the founders. They can jeopardize the company’s performance and even lead to its closure.
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The obligations and rights of the founders should be clear from the start
Founders who have a similar mindset, the same way of working and are all willing to put all their effort into the business are a great team. Over time, however, the view of certain matters can change. Because of that it is good to determine the rights and duties of the founders from the start.
It is very important to determine the shares, rights and obligations of each owner according to the basic investment. It is also important to set how the structure of your company in Slovenia will change if one of them leaves the company. When this happens, of course, the number and share of partners change, as well as the company’s capital, so the founders of the company must visit a notary.
A multi-owner company can avoid problems by appointing a director to make the final decisions. If this role is shared, the company may not develop due to the constant search for compromises.
Use our free salary calculator to also learn about the wage in Slovenia/EU
Liability for damage
Among the obligations, it is good to know that the founders are also jointly liable for the damage caused by the inaccuracy of the data when the company is established. If they do damage to the company, they must reimburse it. The founder, who acted as a good businessman, is not responsible for this damage. This is determined by the Companies Act (ZGD-1). Our legal team will be happy to assist you in understanding the business law.
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