<h2>Introduction: Where to Open a Sole Proprietor (živnostník) Account in Slovakia — Overview of Options</h2>
<p>Opening a bank account is one of the key steps after registering a sole proprietorship <i>(Slovak: živnostník)</i> in Slovakia. Without an account, you won’t be able to receive payments from clients, pay taxes, or run your business legally. But many entrepreneurs, especially <b>foreigners,</b> face the question: <b>which bank should I choose and how to open an account?</b></p>
<p>Slovak banks offer reliable infrastructure, but the account opening process can be complicated, especially for non-residents. On the other hand, modern fintech services like <b>Revolut and Revolut Business</b> allow you to open an account online — quickly and without bureaucracy. However, there are nuances: <b>transaction tax and the need to submit reports.</b></p>
<p>In this article, we’ll break down <b>what options are available for sole proprietors in Slovakia,</b> the differences between Slovak banks and Revolut, and help you choose the best option for you.</p>
<p><b>🟩 Disclaimer:</b> As of April 2025, Slovak authorities are considering the elimination of the tax on financial transactions. If the decision is made, doing business in Slovakia will become even easier.</p>

<h2>Business Account for Sole Proprietors in Slovak Banks: Pros, Cons, and Requirements</h2>
<p style="margin-bottom: 5px;">If you are already in Slovakia, you can open a <b>business account at a local bank.</b> This is the classic, reliable, and safe option — but, as always, there are nuances:</p>
<ul style="margin-top: 7px;">
<li><b>Account opening is only possible in person</b> — it cannot be done online.</li>
<li>You will need documents: <b>sole proprietorship certificate, residence permit/temporary asylum,</b> sometimes contracts and issued invoices.</li>
<li><b>Foreigners are often denied without explanation,</b> the decision depends on the specific employee and branch.</li>
<li><b>Account opening time: from 1 to 5 business days.</b></li>
<li>The main advantage is that the <b>transaction tax</b> <i>(Slovak: transakčná daň)</i> is automatically deducted, and no additional reports are required.</li>
<li>Disadvantages include <b>opaque tariffs, outdated bank interfaces, and poor English support.</b></li>
</ul>
<p>The best banks for sole proprietors in descending order of quality: <b>Tatra banka, ČSOB, VÚB, UniCredit, mBank, Fio banka.</b></p>

<div class="responsive-table-container">
<table border="1" cellpadding="6" cellspacing="0">
  <tbody>
    <tr>
      <td>Bank</td>
      <td>Free Account Management</td>
      <td>Account Management Fee</td>
      <td>Mobile App</td>
      <td>Instant Payments</td>
      <td>Net Profit</td>
    </tr>
    <tr>
      <td><b>Revolut*</b></td>
      <td>∞</td>
      <td><samp>0-10 €/month</samp></td>
      <td>⭐️⭐️⭐️⭐️⭐️</td>
      <td>✅</td>
    </tr>
    <tr>
      <td><b>Tatra banka</b></td>
      <td>12 months</td>
      <td><samp>7-19 €/month</samp></td>
      <td>⭐️⭐️⭐️⭐️½</td>
      <td>✅</td>
    </tr>
    <tr>
      <td><b>Slovenská sporiteľňa</b></td>
      <td>12 months</td>
      <td><samp>7-40 €/month</samp></td>
      <td>⭐️⭐️⭐️⭐️</td>
      <td>✅</td>
    </tr>
    <tr>
      <td><b>VÚB</b></td>
      <td>12 or 6 months</td>
      <td><samp>8-22 €/month</samp></td>
      <td>⭐️⭐️⭐️⭐️</td>
      <td>✅</td>
    </tr>
    <tr>
      <td><b>UniCredit Bank</b></td>
      <td>12 months</td>
      <td><samp>7-15 €/month</samp></td>
      <td>⭐️⭐️⭐️</td>
      <td>✖️</td>
    </tr>
    <tr>
      <td><b>365.banka</b></td>
      <td>✖️</td>
      <td><samp>8-40 €/month</samp></td>
      <td>⭐️⭐️⭐️</td>
      <td>✖️</td>
    </tr>
  </tbody>
</table>
</div>

<h2>Revolut for Sole Proprietors in Slovakia — Convenient, but There Are Limitations</h2>
<p>If you are outside Slovakia or want to quickly start operating without visiting a bank, <b>Revolut</b> (including a personal account) can be a great solution at the start.</p>
<p><b>The account is fully opened online</b> — from a few hours to 1 business day.<br/>
<b>You can use the standard personal account,</b> as long as it is used exclusively for receipts from sole proprietorship activities.<br/>
<b>The only downside is the transaction tax</b> <i>(Slovak: transakčná daň);</i> you need to submit transaction reports and pay it manually.</p>
<p style="margin-bottom: 5px;">What does this mean in practice? Once a month, you need to:</p>
<ol style="margin-top: 7px;">
<li>Export <b>outgoing transactions.</b></li>
<li>We will calculate the tax and submit the report.</li>
<li>Pay the transaction tax amount.</li>
</ol>
<div class="blog-services"><p><b>📌 If you use Revolut as a sole proprietor</b>&nbsp;— we can take care of submitting reports and calculating the tax. Just use our accounting services, and we’ll do everything correctly and on time.</p></div>

<h2>Transaction Tax (transakčná daň) for Entrepreneurs in Slovakia</h2>
<p>All sole proprietors in Slovakia are required to pay a <b>tax on financial transactions,</b> regardless of where the bank account is opened — in Slovakia or abroad.</p>
<p style="margin-bottom: 5px;">Tax rates:</p>
<ul style="margin-top: 7px;">
<li><b>0.4% of the amount of each outgoing payment</b> (up to <samp>40 €</samp> per transaction);</li>
<li><b>0.8% for cash withdrawals at ATMs.</b></li>
</ul>
<p><b>🟩&nbsp;Exempt from tax:</b> incoming payments and card payments.</p>
<p>If you have an account with a Slovak bank, the tax is automatically withheld, and no reports need to be submitted. If you use <b>Revolut or another foreign bank</b>&nbsp;— you must <b>calculate, submit reports, and pay manually,</b> once a month.</p>

<h2>How We Help You Choose an Account and Account for Taxes — Solutions from Oki-Doki.sk</h2>
<p>We help entrepreneurs launch businesses in Slovakia without unnecessary bureaucracy and confusion with banks and taxes:</p>
<div class="blog-services">
<h3>💳&nbsp;We’ll Open a Revolut Account for You for Free&nbsp;— <samp>0 €</samp></h3>
<p>Online opening: quick, remote, and turnkey.<br/>
<a href="https://revolut.com/referral/?referral-code=dmytroxt8n!APR1-25-AR-H1" target="_blank">👉&nbsp;Free Revolut Account Opening</a><br/>
<a href="/en/kontakty" target="_blank">👉&nbsp;Free Help with Account Opening</a></p>
</div>
<div class="blog-services">
<h3>📑&nbsp;Transaction Tax Report Calculation and Submission</h3>
<p>If you have an account in Revolut or another foreign bank.<br/>
<a href="/en/sluzby/uctovnicke-sluzby" target="_blank">👉&nbsp;Transaction Tax Reports</a></p>
</div>
<div class="blog-services">
<h3>📘&nbsp;Accounting for Sole Proprietors&nbsp;— <samp>from 30 € per month</samp></h3>
<p>Transparent, with support for VAT, reporting, and all related questions.<br/>
<a href="/en/sluzby/uctovnicke-sluzby" target="_blank">👉&nbsp;Accounting for Sole Proprietors</a></p>
</div>
<div class="blog-services">
<h3>✅&nbsp;Sole Proprietorship Registration without Personal Visit to Slovakia&nbsp;— <samp>from 105 €</samp></h3>
<p>Fully remote through our service, with a virtual address for 1-2 years.<br/>
<a href="/en/sluzby/zalozenie-zivnosti" target="_blank">👉&nbsp;Sole Proprietorship Registration with Virtual Address</a></p>
</div>


How to open a bank account for a sole proprietorship in Slovakia: Slovak bank vs Revolut, taxes, reports, fees, EU clients.

Bank Account for Sole Proprietorship in Slovakia: Slovak Bank or Revolut?