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Open a Limited Partnership in Slovakia

Open a Limited Partnership in Slovakia

The Slovak limited partnership (LP or komanditna spolocnost, k.s. in Slovakia) is a type of company very similar to general partnerships. The legal provisions for registering a company as limited partnership are contained in the Slovak Commercial Code.

If you want to open a limited partnership in Slovakiaour Slovak lawyers can prepare all the documents necessary for the establishment and registration of the business on your behalf.

The particularities of limited partnerships in Slovakia

Limited partnerships in Slovakia can be founded by two or more individuals or legal entities, called partners. There are two types of partners who can open a limited partnership in Slovakia: a limited partner (Komanditista) which is liable for the obligations of the company up to the amount of the invested share capital and a general partner (Komplementar) which is liable for the partnership’s financial obligations with his or her personal assets, but he can manage the company and act in behalf of it. The Partnership Agreement is the core document of a limited partnership and it contains relevant information about:

•    The company`s business name;
•    The registered address and business activities;
•    The partners of the company;
•    The contribution of each limited partner;
•    Indications about partners bearing limited or general liability.

A limited partner is liable for the partnership`s obligations up to the extent of his/her capital contribution in the partnership. The minimum capital contribution when registering a limited partnership in Slovakia with the Commercial Register.is 250 EUR. Other special features of limited partnerships in Slovakia include: the circumstances when an audit is required (the audit is carried out according to international accounting standards), that no corporate bodies need to be established and that no reserve fund is necessary.

Our attorneys in Slovakia can offer complete guidance to businessmen interested in opening a limited partnership.

Steps in opening a limited partnership in Slovakia

A few steps need to be concluded in order to start a limited partnership in Slovakia. These are the following:

•    decide on a name for the company you intend to open – you can apply for a name certificate with the Commercial Register held by the District Court;
•   draw the foundation documents and other relevant papers and have them notarized with a notary public – our solicitors in Slovakia can help you with the entire procedure;
•    apply for a trade license with the Trade Authority, register for taxation with the District Court;
•   Specifiy the minimum capital requirements necessary to start a limited partnership;
•  Register with disability and unemployment insurance, with pension and sickness insurance with a local insurance company.

Foreigners who want to open a limited partnership in Slovakia are required to hold a temporary residence permit in Slovakia. This rule does not apply to citizens from an EU/EEA member states.

If you need legal assistance in opening a limited partnership, don`t hesitate to contact our law firm in Slovakia.