We have informed you about the amendment to the Commercial Register Act several times in the last two years and we have explained to you 12 things that you should not miss in connection with this amendment (HERE and HERE).

In particular, it is an obligation to add to the Commercial Register the identification data of the shareholders (birth number or ID number), resp. other bodies of the company, e.g. executive director, proxy, liquidator, etc.

In this time (September 30, 2021), the first period with which this amendment is connected has expired. But what does this mean for entrepreneurs?

First of all, there is no need to panic that you have missed the legal deadline and you risk a fine. On the contrary, now is the time when you must fulfill the obligation whether you want to or not, because the registry courts will not enter any changes in the Commercial Register from 1.10.2021 unless you have fulfilled this obligation.

If the company does not fulfill its obligation even by September 30, 2022, then it does face a real sanction of up to EUR 3,310.

At present, the Government of the Slovak Republic has an amendment to the Commercial Register Act on its table, with effect from December 1, 2021. This amendment plans to order the registry courts to automatically complete the identification data of the shareholders resp. other bodies concerned in the companies.

If such data completion is made, the registry court will send a notification to the company in its e-mailbox. However, if you do not receive such notification by May 31, 2022, the automatic data entry has failed, and the company must comply with the obligation at its own expense. The original deadline for fulfilling the obligation is maintained, it is September 30, 2022.

Attention - automatic completion of data for foreign companies will not be possible. Registry courts have no place to draw identification data of foreign persons. Therefore, if you are a foreign legal entity, we do not recommend that you rely on automatic data entry.