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parties, etc.). Periods for the return of “performance replacing own resources” are suspended during the periods when it cannot be returned due to the mandatory provisions of Slovak commercial law. If the “performance replacing own resources” is returned to the creditor despite the statutory prohibition, members of the statutory body (e.g. directors, members of the BoD) who held office at the time the performance was provided and those who held offices as the members of the statutory body in the period in which the company did not claim the return of the performance shall be jointly and severally liable for its return towards the company as well as the company’s creditors. Special business or investment visa issues Citizens of the EU/EEA/Switzerland (hereinafter jointly “EU citizen”) do not need any special permit to live and work in Slovakia. An EU citizen who is the holder of a valid identity card or travel document is entitled, without any further conditions or formalities, to reside in Slovakia for three months from his/her entry into Slovakia. If the EU citizen resides in Slovakia for more than three months, he/she is obliged to apply for registration of residence in Slovakia. An application for the registration of residence must be filed in an official form in person at a police department within 30 days from the lapse of three months from the entry into Slovakia. A third country national may apply for one of the following types of residence: i) temporary residence, ii) permanent residence and iii) tolerated residence. Temporary residence can be granted for one of the purposes listed in the Act on Residence of Foreigners (e.g., employment, study, family reunion, etc.), for a certain period of time, after which a third country national must apply for renewal of the temporary residence. A permanent residence
permit entails foreign nationals to long-term residence in Slovakia as well as journeys abroad and back. It is a more stable type of residence, which is granted to foreign nationals for a longer period than temporary residence. Foreign nationals with a permanent residence permit enjoy the same rights and duties as all citizens of Slovakia in most areas of life (e.g., employment, health care, social affairs, and public life on the regional level). Tolerated residence is a special type of residence, which can be granted to a foreign national exceptionally for a short time period in order to overcome a specific situation. A third country national may be employed in Slovakia only under specific conditions, such as if he/she: i) was granted Blue card, ii) was granted temporary residence for the purpose of employment on the basis of a confirmation on the possibility to fill in a vacancy, iii) was granted a work permit and temporary residence for the purpose of employment, iv) was granted a work permit and temporary residence for the purpose of family reunion within the first 9 months from being granted the residence, v) was granted a work permit and temporary residence of a third country national with acknowledged long-term residence in another EU Member State within the first 12 months from being granted the residence, vi) was granted a confirmation on the possibility to fill in a vacancy and his/her application for temporary residence for the purpose of employment was accepted, from the date of confirmation until the temporary residence for the purpose of employment is granted, and vii) other. Restrictions on remitting funds outside of the jurisdictions (withholdings, etc.) Dividends from profits generated as from 2017 and paid to an entity or an individual resident in a country that has not concluded a tax treaty
ILN Corporate Group – Establishing a Business Entity Series
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