Temporary residence - business (s.r.o.)

In today's era of globalization and growing economy, more and more people are interested in doing business abroad. The Slovak Republic is one of the countries that offers opportunities for entrepreneurs from abroad. In order for foreigners to legally do business in Slovakia, they must obtain a residence permit for the purpose of doing business. In this article, we will talk more about what the conditions are for granting this permit and how the process of applying for it takes place.

Who is entitled to a residence permit for the purpose of doing business?

A residence permit for the purpose of doing business can be granted to foreigners who plan to engage in self-employment or another type of business activity in Slovakia.

The process of applying for a residence permit for the purpose of doing business

The process of applying for a residence permit for the purpose of doing business consists of several steps:

• A foreigner must first make a business plan, which he will submit when applying for a residence permit for the purpose of doing business. The business plan should contain information about business activities, planned investments and employees.
• Subsequently, it is necessary to submit an application for a residence permit for the purpose of doing business at the relevant foreigner's office or Slovak consular representation in the country of origin.
• The application must include complete documentation, including a business plan, proof of funds and other required documents (eg criminal record, proof of education, etc.).
• If the application is approved, the foreigner will receive a residence permit for the purpose of doing business valid for up to two years (with the possibility of extension).

Conditions for granting permission

A residence permit for the purpose of doing business can only be granted if:

• the seriousness and feasibility of the business plan is demonstrable
• the applicant proves sufficient financial resources for the implementation of the business plan
• the applicant fulfills all other requirements established by Slovak law
  
  

Rights and obligations of a foreigner with a residence permit for the purpose of doing business

A foreigner with a residence permit for the purpose of doing business has the right to conduct business in Slovakia in accordance with his business plan and applicable laws. At the same time, he also has the obligation to comply with all rules and regulations regarding business, employment and residence in Slovakia.

Summary

A residence permit for the purpose of doing business is essential for foreigners who want to start their own business in Slovakia. The application process can be complex and requires thorough preparation, but if you follow the correct procedure and meet all the requirements, it is possible to succeed and start a new life as an entrepreneur in the Slovak Republic.