If you are currently deciding on buying a ready-made company, before you buy one, it's a good idea to consider these 4 questions:
The business name must not be interchangeable with another existing business name already registered in the Commercial Register. You can verify the existence of a business name by searching on www.orsr.sk Principles for creating a business name we discussed in another article that focused in detail on changing a business name.
Your company's registered office can be in any property for which the owner grants you written consent. This is known as the property owner's consent for the registration of the property address as your company's registered office in the Commercial Register. This means it can even be an apartment or house where you have permanent residency. Alternatively, you can have your registered office in office or commercial premises that you lease under a rental agreement.
A suitable solution can also be the use of a so-called virtual office service. A virtual or registered office is a way to save money on expensive office space while maintaining the image of a company located at a prestigious address. A registered office service allows companies to have a property address registered in the Commercial Register as their company's registered office and also provides services for receiving and storing mail. This simplifies administration, as you don't have to worry about collecting mail or going to the post office.
Depending on the business activities your company will engage in, it must have these activities registered in the Commercial Register. The basis for registering a business activity in the Commercial Register is a business license. In most cases, a business license is obtained under the Trade Licensing Act and is called a trade license certificate. A trade license certificate is issued for specific trades, a list of which can be found on the Ministry of Interior's website - Trade Licensing Department. Here you will find a list of free, regulated, and craft business activities from which you can choose your own business activities.
It's advisable to address the question of VAT registration before purchasing a ready-made company, as it can save you money. In some cases, it might be beneficial for you to buy a ready-made company that is already VAT registered. When is it worthwhile to buy a VAT-registered company?:
However, each situation requires individual assessment, so be sure to analyze your situation with the company from which you are purchasing the business.
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