Registration of individual entrepreneurship (individual entrepreneur/private entity) is one of the grounds for business emigration and obtaining a residence permit in Slovakia.

You can do business in Slovakia as an individual – an individual entrepreneur (zárobkovo činná osoba) or a private entity (živnostník).

Registration of a private entity in Slovakia provides a number of advantages:

• minimum start-up costs for business registration;
• low income tax – no more than 19%;
• the ability to use a reliable banking system.

In accordance with the Slovak legislation, registration as an individual entrepreneur in Slovakia is available to citizens of any country in the world. Registration as an individual entrepreneur is popular. There are a number of reasons for this:

• ease of registration
• there are no requirements for the authorized capital
• the ability to apply for a VAT refund
• freedom to do business in other EU countries
• the opportunity to get a mortgage
• opening an account in a European bank
• moving around the EU countries
• the right for family reunification and education in Slovak educational institutions
• simple liquidation procedure.

After registration of individual entrepreneurship and registration of a residence permit, the entrepreneur receives the status of a tax resident. In this regard, there is an obligation to pay taxes in Slovakia (income tax is 15%).