What are advantages of Slovak ready-made LLCs?
List of advantages of Slovak ready-made LLC:
Ready-made LLC and its purchase has many advantages. The advantages of a ready-made Ltd. are listed below:
- Time saving, even 60 days of time: you can already start your business in the name of the ready-made LLC on the day of appointment as managing director.
- it has a paid-up share capital of at least € 5.000.
- Slovak ready-made LLC is already registered in the commercial register: ready-made s.r.o. is already registered in the commercial register, which means that it already has legal personality.
- Slovak ready-made LLC has a trade licence.
- It has been assigned an ID number, a CIT number and also a VAT number if it is a VAT payer.
- has many objects of business registered.
- it may have an open bank account.
- has never carried out economic and business activity.
We will discuss each of the above advantages of a ready-made LLC in more detail below.
What is slovak ready-made LLC?
Slovak ready-made LLC is a limited liability company established in the Slovak Republic by a company that specializes in the sale of Slovak ready-made companies. Such Slovak LLC has never been in business and is only for quick sale to foreign and Slovak clients who want to start a business. A Slovak ready-made LLC has a paid-up share capital of at least 5,000 €, has definitely been assigned an ID number and issued a trade license, is registered with the tax office and has been assigned a CIT number. Some Slovak ready-made LLCs are also registered for VAT, so-called Slovak ready-made LLC VAT payers.
The name Slovak ready-made LLC is derived from the word “ready-made”, which means pre-prepared. The essence of a Slovak ready-made LLC is that it is already finished and ready for its immediate sale to speed up the start of the business.
You can start your business almost immediately. How is this possible?
One of the biggest advantages of a Slovak ready-made LLC is that it allows you to start your business in Slovak republic virtually immediately. The quick start of business is possible because with a Slovak ready-made LLC purchase, the entrepreneur is appointed to the position of managing director of the existing LLC at the moment of its purchase, i.e. already at the time of signing the transfer documentation for the purchase of the company. This means that on the date of appointment as a managing director, the managing director also acquires the right to act on behalf of the Slovak ready-made LLC.
Slovak ready-made LLC is already registered in the Commercial Register.
The advantages of the Slovak ready-made LLC include the fact that it is already duly registered in the Slovak Commercial Register. This means that you don’t have to wait for the new LLC to be established, which can take up to 30 days. The registration of a Slovak ready-made LLC in the Commercial Register has a practical meaning, namely that the LLC has legal personality. In human terms, the company has reached its majority and therefore has the ability to acquire rights and obligations. In other words, it is capable of carrying on the business and activities for which it was established.
Slovak ready-made LLC has been assigned an ID.NO., a CIT and a VAT ID NO.
A ready-made LLC established in Slovakia already has all the necessary basic registrations that an LLC needs to operate. The ID number – the identification number of the organization is assigned in the process of issuing a business license by the relevant trade licensing authority.
Another registration is the registration with the tax office for corporate income tax. In this process, a CIT number – tax identification number is assigned. The CIT is used when communicating with the tax authorities and takes about 15 days to issue. You will save this time when you buy a ready-made LLC.
Other advantages of a Slovak ready-made LLC include that some ready-made companies are also registered as VAT payers and have been assigned a VAT ID number. It takes more effort to get registered as a VAT payer and it is a more complicated registration process with the tax office. If the LLC has a VAT registration, the buyer of a Slovak ready-made LLC of a VAT payer saves an additional 30 days and avoids the annoying process of registering as a VAT payer.
It has registered the most commonly used business objects
The Slovak ready-made LLC has registered the most frequently used business objects. Companies specialising in the sale of shelf companies in Slovakia already know from experience and also from statistical data which trades are used most often. Therefore, it is an advantage if the company you are buying has also registered your subject of business, which speeds up the time of starting a business.
Slovak ready made LLCs may already have a bank account
The advantages of a Slovak ready-made LLC are wide, e.g. they are also sold together with an open bank account. Most often, these are ready-made LLCs of VAT payers, which are sold with an open bank account. This means that you can start receiving payments into the account immediately and do not have to wait. Once the ready-made LLC has been transferred to the client, the new managing director needs to visit the bank and change the disposition rights to the account.
They have never carried out an economic activity – clean track record.
It is typical for a ready-made LLC to have never carried out an economic activity. This is why ready-made companies are sometimes referred to as shelf companies, which translates as ’empty shells’. This fact is an unquestionable advantage over buying a dubious company with a history of having carried out business activity in the past. Buying such an untested company with a history can be a big risk.
A ready-made LLC in Slovakia must have duly paid up its share capital at its formation, which in the case of an LLC company is a minimum of €5,000. Thus, you do not have to pay back this share capital because the original founder has already done so. So you don’t need to have €5,000 to buy a ready-made LLC in Slovakia.
How to start a business more conveniently and as quickly as possible?
In case you do not feel like it or you do not have the time and energy to go through the process of setting up an LLC on your own, you can contact us and we will be happy to provide you with a ready-made LLC starting from € 1.000, with which you can start your business in just 4 hours.
Autor článku: 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.