Shortening of the period for registration in the commercial register to 2 working days

The above change results from an amendment of Act no. 547/2011 Coll. amending and supplementing Act no. 431/2002 Coll. on Accounting, as amended and on amendments to certain laws.The explanatory memorandum to the amendment justified the shortening of periods for registration in the commercial register by an effort to improve the business environment in the Slovak republic with reference to Government Resolution no. 486/2011 of 6th July 2011.

The first weeks of the effectiveness of this amendment that reduced the period for registration to 2 working days, for several submissions we noticed an extension of the deadlines for a further 10 days. Extension of periods was justified by the commercial registers staff  by workload and thus the inability to equip filling within the statutory period.

Amendment to Act no. 530/2003 Coll. on the Commercial Register and amending certain acts also added a provision which governs the commencement of the period for registration, if the proposal was submitted in paper form.

If the proposal for registration was not filed by electronic means and the court fee has been paid by credit card, postal order to the appropriate account, transfer from a bank account or through short message service (SMS), period starts to run from the date when the court found what fees transaction it is.

The explanatory memorandum to the amendment justified the need for this amendment as follows:“It seems necessary to specify in relation to the proceedings in matters of registry, since when starts the period for registration in the commercial register, if the proposal was not filed by electronic means.

Payment of court fees before the proceedings, when filing the submission by postal order, transfer from a bank account etc., is associated with a risk of substantial extension of procedure which consists in the impossibility to identify the payer and the fees transaction, whereas the fee before filing the proposal does not have any identifier that would allow to check the payment. As a result, arises the need to manually identify the fees transaction. Therefore determined commencement of the period for registration in the commercial register if the proposal was not filed by electronic means and the court fee has been paid by cashless payments will be up to the day when the court identifies the fees transaction.”Our  law firm has rich experience in the field of registration to the commercial register. Since we have a qualified electronic signature, communication with client is faster and saving up to half of the fee. If interested in filing the proposal for registration in the commercial register, please contact us.