Set up a Sole Trader in Slovenia
Set up a Sole Trader in SloveniaUpdated on Monday 27th March 2017
Rate this article
based on 3 reviews.
based on 3 reviews.
A sole trader in Slovenia represents the simplest form of doing business in this country. It aims at the inclusion on the business market of natural persons – both local and foreign, who want to start a company here. A sole trader requires minimum accounting procedures and the taxation system is different than in the case of other types of commercial companies that can be registered here; our team of lawyers in Slovenia can offer legal assistance on the documents required when opening a business here, as well as on the other legal requirements related to the incorporation procedure.
Legal aspects for Slovenian sole traders
Unlike other types of legal entities in Slovenia, the sole trader assumes that the investor will be held accountable for the company’s debts, as there is no legal distinction between the founder and the business. A sole trader can be registered only by natural persons who can become liable with their own personal property.
However, a positive aspect related to the sole proprietorship refers to the fact that that there is no minimum share capital requirement during the incorporation procedures.
It is important to mention that, in the situation in which the business develops during its operations, the founder will be able to change the legal entity of the business. The most common scenario in this sense refers to the modification of the sole trader into a limited liability company, which provides numerous advantages to its shareholders, especially when referring to the liability aspects, on which our team of attorneys in Slovenia can provide an in-depth presentation.
Documents for registering a Slovenian sole trader
Businessmen who want to open a company in Slovenia as a sole trader will need to provide minimum documentation, as presented below:
• a valid ID document;
• a Slovenian tax number;
• a personal identification number.
The sole traders operating in Slovenia will be required to register for taxation purposes with the tax administration. At the same time, it is important to know that the sole proprietorship operate on a self-employment scheme.
Businessmen are welcomed to contact our law firm in Slovenia for more details referring to other registration requirements when setting up a sole trader in this country.