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INVESTMENT FUND – TO OPEN OR NOT TO OPEN? When setting up investment structures, we encounter various business models in practice. Some clearly fit within the existing regulatory framework, while for others, it is necessary to strike a balance between the client’s original vision, regulatory requirements, and the economic efficiency of the proposed solution. If […]
99 out of 100 Slovak entrepreneurs do not pay themselves a market-rate salary or market-rate executive compensation from their own companies. As a partner in a Slovak consulting firm with annual revenue of 5 million EUR—excluding (i) public contracts and (ii) work from international networks—I am fortunate that the majority of our revenue comes from […]
Slovakia will have its own private (“endowment”) fund. Parliament today approved the new Civil Code—the first major recodification of private law since 1964. Along with it, a relatively significant amendment proposed by the KDH was also passed, introducing the concept of a private fund into Slovak law—something we, as experts in the field, have been […]
A family business doesn’t have to end with the children. And that’s not a failure. According to available statistics, nearly one in four owners of Slovak family businesses fears that their children will not want to take over the business, and one in five already expects that their children will not get involved. Passing a […]
In the easternmost corner of Slovakia (Topoľa), we spoke with the Cholev brothers (GARDEON®) about how to conquer Europe (from Turiec). For companies that are expanding, the question inevitably arises sooner or later: Wouldn’t it be better for the parent company to be based abroad? Sometimes, yes. For many, however, no. Why? Simply put, a […]
This increase is primarily due to the Slovak legislature’s reckless inflationary policy-making. The general consequence? 1) more words = higher costs for legal advisors; 2) it fosters apathy or hostility toward the rules (the system), which undermines the rule of law. What are the specific consequences? • An entrepreneur has “10 companies” because of the […]
When people hear the term “Švarc system,” most business owners immediately think of the labor inspectorate. However, fines imposed by the labor inspectorate are capped at 200,000 euros, and in practice, such amounts are rarely imposed. In my blog, I discussed the topic of penalties for the “Švarc” system, as well as when a seller […]
If your accountant doesn’t know how to use the software, you’re paying for their clicking—not for their expertise. Nine years ago, I opened Pohoda for the first time. My impression? MS-DOS on a 386💾. As the years went by, I tried other software like Profit365, Omega, and MRP, but only Pohoda from STORMWARE SK stuck […]
Since there is about one year left until the elections, we spoke with Marián Viskupič of Freedom and Solidarity about the tax proposals they have put forward, including their proposal for an “Estonian tax.” You can find the full interview here: https://lnkd.in/dPbE844n
