How to Open a Corporate Bank Account in Slovakia?

How to open corporate bank account in slovakia

Company formation in Slovakia 18. October 2023

How to Open a Corporate Bank Account in Slovakia: A Guide for Foreign Businessmen. 

Setting up a business in Slovakia is an attractive prospect for many foreign entrepreneurs, thanks to its strategic location in Central Europe, skilled workforce, and business-friendly environment. However, one crucial step in establishing your business presence in the country is opening a corporate bank account. This guide provides a step-by-step overview to streamline the process for you.


1. Choose a Suitable Bank

Slovakia hosts a mix of local and international banks, each offering a variety of corporate banking services. Some of the prominent banks include:

  • Slovenská sporiteľňa (part of Erste Group)
  • Tatra banka (part of Raiffeisen Group)
  • VÚB banka (part of Intesa Sanpaolo Group)
  • ČSOB

When choosing a bank, consider the following:

  • Banking fees and service charges
  • Ease of online banking and international transfers
  • English-speaking staff and customer service


2. Gather Necessary Documentation

While requirements may vary slightly between banks, generally, you’ll need:

  • Proof of company registration in Slovakia (e.g., an excerpt from the Commercial Register)
  • Company’s articles of association
  • Identification documents (passport or ID) of company directors and anyone authorized to use the account
  • Tax Identification Number (TIN)
  • Proof of address for the company and for individual signatories
  • List of UBO (ultimate beneficial owners).

For non-resident directors or shareholders, the bank might also require additional documentation, such as:

  • A notarized copy of the passport
  • Proof of residential address (e.g., utility bill or bank statement)


3. Schedule an Appointment

It’s recommended to schedule an appointment with your chosen bank to open the account, especially if you don’t speak Slovak. This ensures you’ll be attended by a bank officer familiar with the requirements for foreign businessmen.


4. Visit the Bank in Person

Many Slovak banks require the presence of the company’s representative when opening the corporate bank account. Be prepared to explain your business operations, expected turnover, and the nature of transactions.


5. Await Account Approval

Once you’ve submitted all necessary documents, the bank will review your application. The approval process can take anywhere from a few days to a couple of weeks. Upon approval, you’ll receive your account details, online banking credentials, and other necessary tools to manage your account.


6. Understand Banking Operations

Familiarize yourself with Slovak banking practices. Some things to note:

  • Business hours: Most banks operate from 9 AM to 5 PM on weekdays.
  • Currency: Slovakia uses the Euro (€).
  • International transfers: Check with your bank about fees and any additional documentation required for large international transactions.


  • Professional Assistance: Consider hiring a local business consultant or attorney familiar with the banking landscape. Their knowledge can save you time and ensure you navigate the process smoothly.
  • Multiple Signatories: If your business operations require it, you can add multiple signatories to the account.
  • Regular Updates: Ensure that the bank is kept informed about any changes in your company’s structure or key personnel.
  • Shelf companies with opened bank account: You can take advantage of buying Slovak ready-made company which has open bank account.


Opening a corporate bank account in Slovakia is a straightforward process when you’re prepared. With the right documentation in hand and a clear understanding of local banking nuances, foreign businessmen can swiftly set their financial operations in motion in this Central European business hub.

Note: Always check with the bank and local legal counsel for the most up-to-date requirements and regulations.

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.