9 Common Mistakes Foreign Entrepreneurs Make When Setting Up a Business in Slovakia — And How to Avoid Them
Slovakia is a highly attractive EU destination for starting a company. With its favorable tax regime, streamlined corporate structure, and central European location, it appeals to entrepreneurs across Poland, Hungary, Czechia, the Balkans, and beyond.
But like any legal and tax system, Slovakia has its own rules — and traps. At Setupmart.com, we’ve helped hundreds of foreign clients launch companies in Slovakia smoothly by avoiding the pitfalls that cost time, money, and business credibility.
Here’s a breakdown of the 9 most common mistakes and how to avoid them with expert help.
1. Using the Wrong Business Structure
❌ Many choose an s.r.o. (LLC) without understanding if it’s optimal.
✅ Consider whether you need a holding company, branch, or joint venture.
2. Underestimating the Paperwork
❌ Slovakia requires notarized documents, translations, and criminal records — delays happen due to incomplete files.
✅ Setupmart.com provides pre-checked templates, translations, and notary coordination.
3. Ignoring virtual office notices
❌ Some assume to pay an invoice for virtual office is enough and not paying attention to our virtual office notices.
✅ A legal registered seat in Slovakia is required. We provide virtual office services that are court-accepted. Reading your postal items is crucial in order to stay compliant.
4. Thinking VAT Registration is Automatic
❌ Many assume they’ll receive a VAT number (IČ DPH) with registration.
✅ VAT is a separate and complex application — we manage the process and ensure VIES inclusion.
5. Opening a Bank Account Without Support
❌ Banks reject or delay applications due to foreign ownership or unclear KYC info.
✅ We offer ready-made companies with open bank accounts or act as legal proxy to handle local onboarding.
6. Not Activating the Slovensko.sk Mailbox
❌ Ignoring the mandatory electronic mailbox leads to missed tax or court deadlines.
✅ We provide mailbox monitoring services, translating and responding to official notices.
7. Failing to File Annual Reports — Even If Inactive
❌ Dormant companies must still submit tax returns and financial statements.
✅ We offer low-cost dormant company compliance to avoid fines or forced liquidation.
8. Hiring Staff Without Understanding Slovak Labor Laws
❌ Violations of contract terms, tax obligations, or social insurance rules can trigger audits.
✅ We guide clients through payroll setup, contracts, and HR compliance.
9. Thinking Company Setup Is One-Time Work
❌ Many stop at incorporation — but annual compliance, VAT returns, accounting, and mailbox monitoring continue.
✅ We offer ongoing support packages to keep your business legally active and penalty-free.
Final Thoughts
Slovakia is a strategic and accessible base for your European business — but getting it right from day one matters. Each of these 9 mistakes is avoidable with the right partner.
Work With Setupmart.com and Get It Right
✅ Slovak ready-made companies with bank account and VAT registration
✅ VAT, VIES, and bank account setup
✅ Virtual office, mailbox, and compliance support
✅ Multilingual service and ongoing guidance
👉 Visit www.setupmart.com to start your Slovak company with confidence — no guesswork, no stress.
Mgr. Dominik Ondrišeje
Dominik is co-founder of the SetupMART project. Dominik is responsible for corporate services and implementation of modern technologies in our services at SetupMART. Dominik is dedicated to the sale of ready-made companies since 2011. Dominik studied law at the Pan-European School of Law.