Navigation path

Share on 
	Share on Facebook
  
	Tweet it
  
	Share on google+
  
	Share on linkedIn
  
    
      E-mail
Set page to normal font sizeIncrease font size by 200 percentBookmark this pageChoose high-contrast version

Slovakia

Winding up

Updated 04. 2010

Legal requirements

The conditions for winding up a company's activities are set down in Articles 68-75 of the Commercial Code.

The conditions for winding up and suspending a trade are set down in Articles 57-59 of the Act on Licensed Trades (Trade Licensing Act).

Types of dissolution

Different types of company dissolution:

  • voluntary:
  • with legal successors,
  • without legal successors,
  • involuntary - through a ruling of a Bankruptcy Court or General Court.

Voluntary liquidation

Under the Commercial Code, a company can wind itself up voluntarily:

  •  through liquidation - the partners voluntarily decide to liquidate the company, which continues to have legal personality, although, for reasons of the impending dissolution, it may only perform actions connected with the liquidation.
  • suspension of a company through the expiry of a time period or the achievement of an objective
  • suspension of a company with a legal successor - through the suspension of the company a legal successor is created, taking on all of the rights and obligations.

Enforced dissolution

When an existing business winds up its operations, it has to liquidate and distribute its assets to the owners or shareholders. Liquidation is not required if the company has no assets.

Liquidation is carried out by the company's statutory body or a liquidator. If a company is wound up by court order, a liquidator is nominated by the court, and information about the liquidation is recorded in the Commercial Register.

The liquidator will inform all known creditors that the company is in liquidation, and he must publish this in the Trade Journal (Obchodný vestník).

If any assets remain following liquidation - surplus assets - these will be distributed between the partners as per the Memorandum of Association (spoločenská zmluva).

The final act of the liquidator is to request the  company's removal from the Companies Register.

When filing for bankruptcy is the only option left for a business owner, it pays to cut losses, initiate proceedings sooner rather than later, and move on to a new business project.

Administrative procedures

One-stop shop

The role of a one-stop shop is fulfilled by Trade Licensing Offices, which provide the following services:

registration of the taxpayer with the tax authority and notification of the setting up of a workplace,

registration in the mandatory health insurance system. At Trade Licensing Offices, natural persons may also register a change to the payer of insurance for a self-employed person.

Deregistration

A company is dissolved on the day it is removed from the Commercial Register.

Business deregistration

The final act in the winding up of a company by liquidation is the submission of a proposal for the company to be removed from the Commercial Register. The liquidator submits the proposal for the company to be removed from the Commercial Register within 90 days of approval of the final accounts, the final report on the liquidation and the proposal for distribution of surplus assets.

The proposal for removal shall include as attachments the final accounts and final report together with the proposal for distribution of surplus assets. The final accounts and the final report, together with the proposal for distribution of surplus assets, are lodged in the Collection of Deeds.

Where a registered entity is being wound up with liquidation, the proposal for removal from the Commercial Register shall include the following attachments:

  • final accounts
  • liquidation report together with proposal for distribution of surplus assets,
  • other documents - proof of fulfilment of duty to publish - publication of the fact that the company has gone into liquidation with an invitation to creditor companies and other entities and bodies affected thereby to register their claims or other rights within a time period not shorter than 3 months.

The completion of liquidation is proven through submission of a document demonstrating the completion of liquidation - a decision of the AGM approving the final accounts, the final report on the liquidation and the proposal for distributing surplus assets.

Social security deregistration

A business owner must inform the health and social insurance agencies of any changes which may affect premiums, including any winding up of a business, within eight days. As from the date on which a trading licence is cancelled, social welfare insurance premiums no longer need to be paid.

The deregistration from the Register of Employers must be communicated to the Social Insurance Agency on the printed form:

The business owner shall also notify the Health Insurance Agency of the change.

Tax deregistration:

The tax office (daňový úrad) and also the tax administrator (správca dane) must be informed of the winding up of a trade. The tax registration certificate (osvedčenie o registrácii pre daň) must be returned within 30 days.

Other procedures

Notification of  winding up a trade is recorded in the Trade Register (živnostenský register) and cannot be revoked. Notification of winding up a notifiable trade (ohlasovacia živnosť) must be sent to the Trade Licensing Office.

An  application must be made to wind up a concession trade. Applications for winding up are sent to the Trade Licensing Office - an administrative fee is payable. The Office will issue a decision notice to cancel a trading licence (živnostenské oprávnenie) within 30 days at the latest.

Help & advice

Help & advice

Professional advice and expert assistance in the area of winding up a company is provided by the following institutions:

E-mail a business organisation near you

The EU runs a network (Enterprise Europe Network) of local business organisations in most European countries that may be able to help you.

Choose your country and town and enter your enquiry below.

Country

Austria

Feldkirch

Graz

Innsbruck

Klagenfurt

Linz

Salzburg

Wien

Belgium

Antwerpen

Arlon

Brugge

Brussels

Charleroi

Gent

Hasselt

Leuven

Libramont

Liège

Mons

Namur

Nivelles

Bulgaria

Dobrich

Plovidiv

Ruse

Sandanski

Sofia

Sofia

Stara Zagora

Vratsa

Yambol

Croatia

Osijek

Rijeka

Split

Varazdin

Zagreb

Cyprus

Nicosia

Czech Republic

Brno

Liberec

Ostrava

Ostrava

Pardubice

Plzen

Praha

Usti nad Labem

Denmark

Aalborg

Copenhagen

Herning

Kolding

Viborg

Estonia

Tallinn

Finland

Helsinki

Oulu

Tampere

Turku

Vantaa

France

Amiens

Annecy

Aulnat

Besançon

Bordeaux

Bourg en Bresse

Caen

Cayenne

Chalons-en-Champagne

Chambéry

Dijon

Fort-de-France

Grenoble

Lille

Limoges

Lyon

Marseille

Marseille

Marseille

Montpellier

Montpellier

Nancy

Nantes

Orléans

Paris

Pointe-à-Pitre

Poitiers

Privas

Rennes

Rouen

Saint-Denis

Saint-Etienne

Strasbourg

Toulouse

Valence

Germany

Berlin

Bremen

Bremenhaven

Chemnitz

Dresden

Düsseldorf

Erfurt

Frankfurt/Oder

Freiburg

Hamburg

Hannover

Kaiserslautern

Kiel

Konstanz

Leipzig

Magdeburg

Mannheim

Mülheim an der Ruhr

München

Osnabrück

Potsdam

Reutlingen

Rostock

Saabrücken

Stuttgart

Trier

Ulm

Villingen-Schwenningen

Wiesbaden

Greece

Athens

Heraklion

Ioannina

Kavala

Kozani

Thessaloniki

Tripolis

Volos

Hungary

Budapest

Debrecen

Győr

Nyíregyháza

Pécs

Szeged

Székesfehérvár

Zalaegerszeg

Ireland

Dublin

Italy

Abruzzo

Aosta

Apulia

Apulia

Ascoli Piceno

Basilicata

Bologna

Bologna

Cagliari

Calabria

Calabria

Campania

Catania

Catania

Florence

Genova

Gorizia

Milano

Milano

Milano

Molise

Naples

Naples

Palermo

Palermo

Perugia

Pesaro

Pordenone

Ravenna

Rome

Rovereto

Sassari

Sicily

Terni

Torino

Torino

Torino

Trieste

Trieste

Udine

Venezia

Venezia

Venezia

Latvia

Riga

Lithuania

Kaunas

Klaipėda

Vilnius

Luxembourg

Luxembourg

Malta

Pieta`

Netherlands

Den Haag

Nieuwegein

Norway

Ås

Oslo

Stavanger

Tromsø

Poland

Bialystok

Gdańsk

Kalisz

Katowice

Kielce

Konin

Kraków

Lublin

Lublin

Olsztyn

Opole

Poznań

Rzeszów

Szczawno-Zdrój

Szczecin

Szczecin

Toruń

Warsaw

Warsaw

Wroclaw

Zielona Góra

Łódź

Portugal

Aveiro

Braga

Coimbra

Évora

Faro

Funchal

Lisboa

Ponta Delgada

Porto

Romania

Arad

Bacau

Bucuresti

Cluj-Napoca

Constanta

Craiova

Galati

Iasi

Ramnicu Valcea

Timișoara

Slovakia

Bratislava

Prešov

Slovenia

Koper

Ljubljana

Maribor

Spain

Albacete

Alicante

Badajoz

Barcelona

Bilbao

Bilbao

Ciudad Real

Donostia- San Sebastian

Ferrol

Las Palmas de Gran Canaria

Llanera

Logroño

Madrid

Murcia

Oviedo

Palma

Pamplona

Paterna (Valencia)

Santa Cruz de Tenerife

Santander

Santiago de Compostela

Sevilla

Toledo

Valencia

Valladolid

Vitoria- Gazteiz

Zaragoza

Sweden

Borlänge

Göteborg

Jönköping

Kramfors

Luleå

Malmö

Örebro

Östersund

Stockholm

Umeå

Västerås

Växjö

United Kingdom

Belfast

Bristol

Cambridge

Cardiff

Coventry

Inverness

London

Manchester

Newcastle

Yorkshire and Humber

Enter your message here

* required field (you must enter data here)