The Slovak Republic is to overhaul and streamline its business register, creating an online portal that will reduce the time needed to register new businesses and make it easier to keep records up to date. The government has earmarked almost EUR 10 million for overhauling the IT systems of its trade register, and has launched a call for tender.
The aim is to enable new companies to register instantly by rationalising the current, five-day process. The overhaul should also eliminate the need for companies to submit data multiple times to public authorities (the once-only principle).
In addition, the government of Slovakia is increasing the number of company registrars from 8 to 150. These firms [or people?] work with the registry courts, registering new companies and keeping records up to date.
The call for tender for the modernisation of the trade register IT systems was announced by the Deputy Prime Minister’s office for eGovernment and IT management (Informatizacia) on 18 August. The deadline for submission of bids is 13 October.
The project will ensure 100% quality and integrity of data in the business register that will be legally applicable online. The information published within the IS OR [??] will be legally binding even without the need to extract data from the Commercial Register.
Various checks on registrations will also be supported, such as automatic control of all reference registries, and in particular financial reporting.
In this context, it will be important to link to the Disabled Persons Registry. This will allow selected actions to be blocked and existing records to be deleted, as well as addressing the consequences of the Criminal Liability Act. [I don’t find this para very clear. Is it the registrars who will have this power? And why is disability especially important in the context of company registrations?]
The modernisation of the trade registry is co-financed by the European Regional Development Fund.