Temporary residence for business purposes

The business plan for an application for temporary residence for business purposes should be well-structured, clear and convincing. It should contain the following main sections:

1. Introductory data

2. Description of business activity

3. Market and competitive analysis

4. Marketing strategy

5. Financial plan

6. Organisational plan

The business plan should be realistic, specific and credible, as the police and the Ministry of Economic Affairs assess whether the business will actually be viable and beneficial.

The alien must show sufficient financial security for both residence and business activities, with the documents to be submitted depending on the legal form of the business.

Financial security of the stay

The foreigner must prove that he or she has sufficient financial means to stay in Slovakia. The minimum amount is calculated as 12 times the minimum subsistence level.

Evidence:

• Bank statement (can be from a foreign bank if in English or officially translated)
• Confirmation from the bank of available funds.

Financial security of business activities

It is demonstrated by whether the foreigner will be doing business as Self-employed (sole trader) or as Managing director s.r.o.

Self-employed (sole trader) - must demonstrate at least 20 times the minimum subsistence level.

Managing Director s.r.o. - must demonstrate at least 100 times the minimum subsistence level.

The SR Police assess the sufficiency of funds on an individual basis, so it is advisable to have a higher amount than the minimum requirement.

The accommodation must meet the requirements of Section 62 (f) of Act No. 355/2007 Coll. on the protection, promotion and development of public health and on amendments and supplements to certain acts and Section 8 (1) of Decree No. 259/2008 Coll. of the Ministry of Health of the Slovak Republic on the details of the requirements for the internal environment of buildings and on the minimum requirements for lower standard apartments and accommodation facilities. According to the above, the living area of a lower standard apartment must be at least 12 m2 per occupant and 6 m2 for each additional personwho lives in the household with him. The useful floor area of the lower standard flat must be at least 15 m2.

Proof of accommodation arrangements must show that the third-country national has accommodation arrangements for at least six months of the temporary stay; if he or she applies for a temporary stay of a shorter duration, he or she must show that accommodation arrangements have been made for the duration of the temporary stay. In the case of family reunification, the third-country national must prove the provision of shared accommodation with the third-country national with whom he/she is applying for family reunification.