Faster Filings, Fewer Secrets: Slovakia’s New Commercial Register Tests the Limits of Transparency

Slovakia has launched its most extensive overhaul of the Commercial Register in more than two decades. The New Act on Commercial Register transformed the register from a largely administrative database into a legally reliable digital source of corporate information.

A register built for speed and trust

For companies, the reform promises a more streamlined journey through the system. Applications are filed electronically and, if the statutory conditions are met, the general registration deadline is two working days.

Simplification is accompanied by professionalisation. Key corporate documents, including founding documents, share transfer agreements and certain major shareholder decisions, must generally take the form of a notarial deed or a document authorised by an attorney. If a company chooses representation in the registration procedure, only an attorney, a notary or an employee of such company may represent it. The aim is to exclude unaccountable intermediaries, improve the quality of filings and reduce incomplete or defective applications.

The reform also offers greater flexibility. Slovakia has abolished long-standing restrictions on chains of single-member limited liability companies. That change is particularly relevant to holding structures and international investment groups. Previously; they struggled to work with these rules, which were rather uncommon in most European jurisdictions.

When transparency becomes a problem

The controversy began almost immediately after the new system went live. Slovakia’s Data Protection Authority confirmed that documents accessible through the register contained national identification numbers, complete home addresses, handwritten signatures and identity-document numbers. Their combination can create obvious privacy and impersonation risks.

The documents themselves are not new. The collection of corporate documents has long been public, and copies could previously be obtained by inspecting the court file or using the state’s electronic register services. Since 17 August, the Ministry itself acknowledges that online access has become simpler; documents can now be viewed free of charge through the specialised portal without demonstrating a legal interest and without the necessity to go through a special court procedure.

That distinction matters. A document available after a deliberate request, possible payment or recorded court visit is legally public - but not practically exposed in the same way as a document retrievable online within seconds. This is the key point of the dispute: the reform may not have published new personal data, but it has made access to existing personal data much easier. This way it also facilitates the collection and combination of such data for man purposes, including those of rather shady businesses.

By JUDr. Valter Pieger

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