Important Changes To The Commercial Code

October 2020 – A major amendment to Slovak Act No. 153/1991 Coll. Commercial Code (the "Commercial Code") and related legislation entered into force on 1 October 2020. Below we provide a summary of key changes that may affect many entities carrying out business in Slovakia:

1     New restrictions on shareholders and directors of limited liability companies

Persons against whom a debt enforcement procedure (in Slovak: exekúcia) is being conducted can neither acquire nor transfer a share in a Slovak limited liability company, nor can they be appointed to the office of director of a Slovak limited liability company.

2     Changes to the data registered with the Commercial Register