New Business Register Act to make setting up a new company more expensive and complicated

The new Business Register Act and an accompanying Commercial Code revision, effective August 17, will make setting up a new company more expensive and complicated. It will no longer be enough to fill out a form available online and have a signature verified at a registry office; the founding deed or partnership agreement will have to take the form of a notarial record or be authorized by an attorney. The fee for setting up a company will rise by half, to €290-320. Registering changes at a company will also become more complex. On the positive side, data on the Business Register website will become legally binding, so various institutions will no longer require an extract from the register. The register will be administered by the Žilina District Court.

(hnonline.sk, dennikN.sk)