Conversion of crowns to euros in Business Registry to be made simpler

  • 20. October 2008

Entrepreneurs will soon be able to convert basic stock and equity in the Business Registry in a simpler way.

“The court can automatically convert data in crowns to euros, subject to [owners’] approval,” Justice Ministry spokesman Michal Jurči informed TASR (The News Agency of the Slovak Republic). This process should be made available from the beginning of 2009 according to the Amendment to the Act on Business Registry, now in its second reading in the Parliament.

“This is a significantly easier way. The simple approval of the entrepreneur is sufficient in order to make the unofficial sum in euros official. There is no need to submit a decision after such approval, and the entrepreneur will find the binding data on the internet,” Justice Minister Štefan Harabin explained. Approximately four million crowns (EUR132,776) will be saved on postage alone thanks to the simpler conversion process, and no queuing will arise in the Business Registries in courts.

“Courts can not convert crowns to euros officially without prior consent. The European Court has ruled on this matter already,” Jurči added.

 (Source: TASR; 19.10.2008)
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