Slovakia: New Restrictions For Business Residence Permit Obtaining
Slovak government introduced several changes to the Act No. 404/2011 on the Residence of Foreigners, with major implications regarding Residence Permit for Business Purposes. Changes have been approved on May 20 and are set to take force from July 1, 2025.
What are the changes?
The following changes have been made specifically to the process of obtaining a Residence Permit for Business Purposes (hereinafter – the “Business RP”):
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Initial applications for the Business RP will need to be submitted via Consulates of Slovakia abroad. Previously the process was possible via in-country immigration police offices;
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Quota has been introduced. Number of possible applications for 2025 is limited to 700, with available slots different for various Slovak Consulates. For example most slots are available in Tbilisi, Georgia (68), Belgrade, Serbia (62), and Hanoi, Vietnam (53). Previously there was no quota for this type of residence permit;
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A new document – business plan – will need to be submitted as part of documents package. Such business plan will need to be written using the official template provided by the Ministry of Economy;
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Changing Residence permit type to Business RP from another RP type will be allowed only if the applicant’s RP has been valid for at least two years. Previously this term was 1 year;
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Bank statements for the last 3 months will no longer be required to confirm proof of financial means. Instead, confirmation of the current balance will be required from two bank accounts (one for personal expenses and one for business operations).
Other changes:
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The validity period of the National visa required for applying for residence in Slovakia has been extended from 90 to 120 days;
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The requirement to provide photos for residence permit applications or renewals has been removed;
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After submitting a residence permit application the applicant is allowed to legally remain in Slovakia until the decision is made by the authorities.
What are the implications?
Introduced changes heavily restrict obtaining of a specific Residence Permit for Business purposes, which is likely to dramatically reduce immigration of individual entrepreneurs looking to set up their business in Slovakia. These new restrictions are more impactful for residents and citizens of countries, in which consulates of Slovakia allow for the lowest amount of applications under established quota.
Other changes can be considered positive, especially for applicants looking for an easier legal way of staying in Slovakia after applying for the residence permit.