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A foreign entrepreneur from a third country should not get sick, let him do prevention in his homeland, but he should live in Slovakia

Imagine that you are a foreigner who decided to go abroad to create a limited liability company. It is obvious to you that for this you must fulfill all legal conditions. For example, you have to get a temporary residence, show about 25,000 euros in your accounts, find housing for at least six months, sign preliminary contracts with partners as a future LLC and wait for a decision on the application for the residence. After obtaining a residence, you must immediately move to the country in which you received it and live there for at least six months, earning at least 1,000 euros net, otherwise your residence for business purposes will be canceled. At the same time, you will not be able to fully enjoy medical care, since you cannot be covered by state health insurance. These are the current conditions for entrepreneurs who come to Slovakia from third countries, but try to look at it with their eyes.

A foreign entrepreneur must be a resident to do business

Currently, a foreign entrepreneur from a third country who is not an EU or OECD citizen can establish a limited liability company only if he previously receives a residence permit in Slovakia, most often for the purpose of doing business. Of course, he can register a company with a Slovak manager, but they have to trust each other, which in many cases is difficult or even impossible. This legislation is Slovak specific, and although neighboring countries register companies without a residence requirement for a managing director, everything is different in Slovakia. A foreign entrepreneur must arrange accommodation for the purpose of doing business. One of the requirements for temporary residence for the purpose of doing business is a physical presence in Slovakia for more than half of the calendar year.

Health insurance for third country nationals

An entrepreneur from a third country can receive arbitrarily high profits, hire any number of Slovaks and pay them any remuneration, even tens of thousands, but the managing director under no circumstances can become a state insured person in Slovakia, and, accordingly, his children cannot be insured either. He can buy commercial insurance, but it often only covers necessary care, not prevention.

Prevention at home

The offer of commercial insurance for foreigners is also limited, and only one insurance company offers prevention with the involvement of primary care doctors under contract. However, if the client suffers from a chronic disease, for example, asthma or suffered a heart attack, the price of insurance increases several times so that the insurer is ready to reimburse the costs of treatment. Thus, the price of insurance does not depend on the results of the activities of a foreign entrepreneur for the company, that is, on the size of the tax burden and fees, but varies depending on the state of his health. However, most insurers offer only basic health insurance, which for such an entrepreneur means that he and his children will pay for each visit to the doctor.

Suggestions and comments

You must change one of the two conflicting rules. Either a foreign entrepreneur must not reside permanently in Slovakia, for example, third-country nationals are allowed to engage in entrepreneurial activity without observing the condition of physical presence on our territory for more than half of the calendar year, or if we require their physical presence in Slovakia, they must be able to pay medical fees on our territory and thus also become insured persons.

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