povolenie na pobyt

Renewal of residence permit



What profit must a self-employedperson report?


One of the most pressing concerns of Slovak residence permit holders isthe net profit required for renewal. In this article, we will tell youwhat is the minimum profit requirement for sole traders for a hassle-free renewal of a residence permit in Slovakia.

So, first of all, we would like to stress that it is mandatory to declarea net profit for renewal, i.e. after all taxes and statutory deductionshave been paid.

The amount of net income for renewal changes each year because it isdirectly related to the living wage, which changes on 1 July. However,the difference is usually not significant:

2017199.48 €
2018205,07 €
2019210,2 €
2020214,83 €
2021218,06 €

According to the Act on the residence of foreigners in Slovakia (ActNo. 404/2011 Coll.), a foreigner must prove income for the previous taxperiod in order to renew a temporary residence permit.


As it is in real life – simulating the situation:


Option 1:

Your residence permit expires on 1.1.2022.

It is recommended that you submit your residence permit renewal documents at least 90 days before your residence permit expires. Accordingly, you will be submitting documents in 2021 and you mustprove your earnings for 2020.


Option 2:

Your residence permit expires on 31.12.2022.

In this case, you will go for renewal in 2022, so the profit is shown for2021.


Option 3:

Your residence permit expires on 20.2.2022.

And this option is the most interesting, because here you have the right to choose whether you want to report a profit for 2020 or for 2021. It all depends on whether you want to file a renewal in 2021 or only in thefirst months of 2022.


What net profit must be reported for a successful renewal?


If you are self-employed and were in business during the previous tax year, the minimum amount of net profit is calculated according to the following formula:

20 times the minimum subsistence level in the year in which you apply for an extension of your residence permit.


Option 1:

Your residence permit expires on 1.1.2022.

As you are renewing your residence in 2021, the net profit for 2020 for your trade must be at least €4,361.2 (20 x 218.06 (2021 subsistence minimum)).


Option 2:

Your residence permit expires on 31.12.2022.

In this case, you have to show net profit equal to 20 x subsistence minimum for 2022. The subsistence minimum for 2022 will be known on1.7.2022.


Option 3:

Your residence permit expires on 20.2.2022.

If you decide to apply for renewal of your residence permit in 2021, yournet profit for 2020 must be EUR 4,296.6 (20 x the minimum subsistence level for 2021). If you apply in 2022, the net profit for 2021 is EUR 4 361.2.


What net profit should a self-employed person report if they have not been in business for the whole tax year?


In this case, the amount is calculated according to the following formula:

Number of months of validity of the residence permit x 2 x the minimum subsistence level in the year in which the application for renewal of the residence permit is made.

Let’s look at examples:


Option 1:

The first residence permit for business purposes was issued from 31.12.2020 till 5.6.2021.

In this case, you have to submit documents in 2021 and show a profit for 2020 of €436.12 (1 month of residence permit validity x 2 x 2021 subsistence minimum).


Option 2:

The first residence permit for business purposes was issued from 2.1.2020 till 31.12.2021.

In this case, the net profit for 2020 must be at least EUR 5 233.44 (12 months of residence permit x 2 x 2021 minimum subsistence level).


Option 3:

The first residence permit for business purposes was issued from 31.12.2020 till 1.3.2022.

If you want to apply for renewal in 2021 (December), you will need toshow a net profit for 2020 of € 436.12. If you decide to do it at the beginning of 2022, then the amount of 4,361.2 euros (20x the minimumsubsistence level in 2021, since you submit documents before 1.7.2021), since in this case you have been doing business for the entire past taxperiod, i.e. whole year.


It is important to note that to renewal at the police, you must submit a Result of Economic Activity and not a business bank account statement. However, this document may also be requested by the Aliens Police. The Result of Business Activity is issued at the tax office after you have filed your tax return for the relevant period.