Slovakia’s corporate-registration framework has undergone a significant overhaul, changing both how company information is accessed and how corporate changes are registered, according to BPV Braun Partners Partner Martin Provaznik.

“The new Act on the Commercial Register is the major recent development for corporate lawyers,” Provaznik begins. Alongside a new online Commercial Register interface, containing publicly available company information, he says the reform has substantially changed procedures for registering companies and corporate changes.

Under the new framework, attorneys have acquired a new role. “We now have the possibility to carry out a form of authorization of corporate documents,” Provaznik explains. “We verify the person and can prepare and authenticate documents concerning matters such as establishing a company, transferring shares, or removing or appointing managing directors.”

Previously, parties could generally rely on notarized signatures for such corporate changes. Under the new system, which Provaznik reports became effective on August 17, the authentication requirements have become more formalized, with attorneys able to perform the new authorization procedure, while notaries can handle the relevant documentation through notarial deeds. He describes the change as particularly relevant for routine corporate work because it applies to “some of the most common company actions, from incorporating limited liability companies to changes in management and share transfers. For lawyers, it consequently creates a new line of activity in a registration process that previously relied more heavily on notarial involvement.”

A considerably broader change to Slovak private law is also approaching. “Parliament has just approved a new Civil Code,” Provaznik reports, noting that the vote took place on the day of the interview. “This will completely change the Civil Code that we have had for roughly 60 years.” The legislation still requires presidential signature, with Provaznik expecting the new framework to take effect in 2027.

Beyond legislative reform, Provaznik describes a relatively subdued economic environment. “The economy is not doing particularly well, and because of that, there is a certain stagnation across a number of fields,” he says. “That means we are seeing fewer of some kinds of mandates and increases in others.”

M&A activity continues, but without the characteristics of a booming transactional market. At the same time, Provaznik reports increasing work involving distressed situations. “We are seeing an increase in distressed situations in Slovakia,” he notes.

Energy is another area where he sees growing legal activity, while real estate remains comparatively resilient despite the broader environment. “Real estate is not doing extremely well, but it is still doing reasonably okay,” Provaznik reports in conclusion. “The situation is quite complex because individual sectors are each developing somewhat differently.”