The equity participation of foreign persons in Slovak legal entities is regulated by § 24 of Act No. 513/1991 Coll. (Commercial Code). For business purposes, a foreign person may participate in the establishment of a Slovak legal entity or participate as a partner in an already established Slovak legal entity. They may also establish a Slovak legal entity themselves or become the sole partner of a Slovak legal entity.
If the foreigner is a citizen of an EU member state or a country that is a member of the OECD, they can be a managing director of an s.r.o. without needing to provide a residence permit. However, such a foreigner must provide an extract from the criminal record of their home country or from any country where they have resided recently.
If the foreigner is a citizen of a third country, a residence permit in the Slovak Republic will be required. This foreigner must first be appointed to the position of managing director of the company. They can then apply for a residence permit at the diplomatic mission of the Slovak Republic in their home country. While the foreigner's residence permit application is being processed in the Slovak Republic, another managing director must be appointed to manage the company during this period. Once the residence permit is granted to the foreigner who wishes to be the company's managing director, the managing director can be registered in the Commercial Register. (The relevant residence permit in the territory of the Slovak Republic must also be submitted for registration).
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