Do you want to run a business? Have you studied all the applicable laws, researched all the required details - and get still surprised by something new over and over again?

If you do not want to approach a lawyer with the foundation of a company or small business, there are also other options. The first and risky one (due to your lacking experience) - is to manage everything on your own. The second option is to buy an already existing company and the third option is to approach a notary.

With the foundation of certain legal company forms, e.g. a joint stock company (Inc. - Slovak abbr.: a.s.) or limited liability company (Ltd. - Slovak abbr.: s.r.o.) - the involvement of a notary is explicitly required by law. With other companies, it is in the sole discretion of the participating parties. The notary will verify the identity of the founding persons on the spot, what significantly increases the security of the agreement between both parties. In the case of any doubts, the notary is obliged to perform further researches. Should the notary fail to verify the identity, so he/she must deny the drawing-up of the notarial protocol or deny the authorisation of such an agreement. A record must be made about it.

A notary saves your money

Everywhere, but particularly in business - the saying „Time is money“ is true more than ever, especially, ff you have decided to find a partner for your business. You need more documents and more laws apply to you as well. This is also the reason, why you should consult a notary when founding joint companies. The ideal way however is to found a company straight at the notary office. The notary has the necessary experience and knows the problems entrepreneurs face most often. In most cases, it is formal mistakes, which can be easily remedied - but the whole incorporation in the Business Register takes longer. The notary will advise you which type of company is the most suitable for you: A limited partnership company, a public company, limited liability company or a joint stock company?

The incorporation in the Business Register is no longer decided by a judge in a civil proceeding, but by a higher judicial clerk within the so-called other activities of the courts. This clerk only assesses the formal correctness of the request as well as the provision of all required appurtenances. The register courts are obliged to incorporate the company in the Business Register within five business days after the request has been filed.