Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the ATVP decision, including banking and payment rails.
Get an investment license in Slovenia.
A MiFID licence with a price list in points: the Agencija za trg vrednostnih papirjev licenses a borznoposredniška družba under ZTFI-1, with capital routed by art. 177 to ZBNIP art. 11 - €75,000, €150,000 or €750,000 by service set - and a tariff that values a point at €4.20, charges 400 points per service and stops at 1,200, so the fullest licence costs €5,040. The investor-compensation scheme covers €22,000 per client. Corporate tax is 22% for 2024-2028 under the flood-reconstruction act, 19% in the general rule. The clock we plan against is the six months of MiFID II art. 7(3), which binds Slovenia. The file is in Slovene; the passport reaches 30 EEA states.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Slovenia in brief
Capital by cross-reference, a tariff in points and a compensation ceiling of €22,000.
Slovenia licenses investment firms under the Zakon o trgu finančnih instrumentov (ZTFI-1), Uradni list 77/18 of 30 November 2018, amended by ZTFI-1B (July 2021, the IFD), ZTFI-1C (June 2024) and ZTFI-1D (October 2025: the MiFID review, DORA, ESAP). Art. 20(2) defines the borznoposredniška družba as an investment firm with its seat in Slovenia, a legal person only, licensed for the nine services of art. 11, from reception and transmission to OTF operation. Capital travels by cross-reference: ZTFI-1 art. 177 sends it to art. 11 of the Zakon o bonitetnem nadzoru investicijskih podjetij (ZBNIP), Uradni list 123/21 - €750,000 for own-account dealing or firm-commitment underwriting, €75,000 for a firm limited to services 1, 2, 4, 5 and 7 that may not manage client money or instruments, €150,000 for every other firm. Fund managers are licensed separately: a družba za upravljanje under ZISDU-3 at €125,000, an AIF manager under ZUAIS at €125,000, or €300,000 if self-managed.
The Agencija za trg vrednostnih papirjev (ATVP) is the gate, and its tariff is unusually concrete. Under the Tarifa o taksah in nadomestilih (Uradni list 75/19, amended 86/21) a point is worth €4.20; item 6/1 charges 400 points per investment service, capped at 1,200 points - €5,040; item 4/2 charges 200 points, €840, for a management-board licence. The decision period we plan against is the six months of MiFID II art. 7(3), which binds Slovenia; the ATVP publishes no processing statistics. Investor compensation is €22,000 per client under the ZTFI-1 guarantee scheme, per the Ministry of Finance's note of 14 May 2026. Corporate tax runs at 22% for 2024-2028 under the reconstruction act, 19% in the general rule. Filing is in Slovene. We run it from Ljubljana.
A MiFID licence priced in points: the ATVP licence for a borznoposredniška družba under ZTFI-1 - capital €75k/€150k/€750k under ZBNIP art. 11, a tariff of €4.20 a point capped at €5,040, €22,000 of investor cover, MiFID II's six months, the 30-state passport.
22% corporate tax through 2028, 19% in the general rule. Six months under MiFID II art. 7(3), with no processing statistics published. Filing in Slovene. Built end to end from Ljubljana.
The two builds
The borznoposredniška družba - or the fund manager under ZISDU-3 or ZUAIS.
Two ATVP licences under three acts: the investment firm under ZTFI-1 at €75,000-€750,000 by service set, and the fund manager under ZISDU-3 or ZUAIS at €125,000. Slovenia has no MiFID art. 3 light regime - the tied agent under art. 40 is the only step below. We fix the act before the file.
The ZTFI-1 investment firm - or the €125k fund manager.
01 - BORZNOPOSREDNIŠKA DRUŽBA
The ZTFI-1 investment firm
Dovoljenje za opravljanje investicijskih storitev in poslov under ZTFI-1 for the nine services of art. 11 - with ZBNIP art. 11 capital at €75,000 without client money or instruments, €150,000 as the general tier, €750,000 for own-account dealing, firm-commitment underwriting or an OTF dealing on own account - priced at 400 points a service.
Dovoljenje za opravljanje investicijskih storitev in poslov under ZTFI-1 for the nine services of art. 11 - with ZBNIP art. 11 capital at €75,000 without client money or instruments, €150,000 as the general tier, €750,000 for own-account dealing, firm-commitment underwriting or an OTF dealing on own account - priced at 400 points a service.
- ✓Nine services of ZTFI-1 art. 11, ancillary services beside them
- ✓€75,000 - services 1, 2, 4, 5, 7, no client money or instruments
- ✓€150,000 - every other firm (ZBNIP art. 11(3))
- ✓€750,000 - own-account dealing, firm-commitment underwriting, OTF dealing
- ✓Tariff 6/1: 400 points a service, at most 1,200 (€5,040)
- ✓6 months under MiFID II art. 7(3)
02 - DRUŽBA ZA UPRAVLJANJE · AIFM
€125,000 initial capitalThe fund manager under ZISDU-3 or ZUAIS
The družba za upravljanje licence under ZISDU-3 art. 33 at €125,000, or the AIF manager under ZUAIS art. 62 at €125,000 (€300,000 self-managed), each plus 0.02% of assets over €250 million capped at €10 million - with individual portfolio management, advice and custody of units as add-ons, and registration only below €100 million (€500 million unleveraged) under ZUAIS art. 38.
Družba za upravljanje under ZISDU-3 art. 33 or AIF manager under ZUAIS art. 62 at €125,000 (€300,000 self-managed) plus 0.02% over €250m - registration only below €100m.
- ✓ZISDU-3 art. 33 - €125,000 UCITS manager
- ✓ZUAIS art. 62 - €125,000 external · €300,000 self-managed
- ✓+0.02% of AUM over €250m, cap €10m
- ✓Portfolio management, advice and custody of units as add-ons (ZISDU-3 art. 32(3))
- ✓Registration only below €100m / €500m (ZUAIS art. 38)
- ✓Tariff 42/1: 800 points (€3,360) · AIFM 50/1: 300 points (€1,260)
Costs and timelines are confirmed for your case before any work begins. The ATVP tariff prices the application in points at €4.20 each; the annual supervision fee for a brokerage firm sits in Part II of the tariff and is confirmed with the ATVP and itemised in your quote.
Why Slovenia
A tariff you can compute, capital you can trace and a tax rate with an end date.
Slovenia sells the passport at a price fixed in points - under a statute amended four times since 2018 to keep pace with Brussels.
✓
A tariff in points
€4.20 a point under the ATVP tariff: 400 points per service, 1,200 at most - €5,040 for the fullest licence, €840 for each management-board licence, €420 to register a tied agent. Arithmetic, not a quote.€4.20 each, €5,040 cap.
✓
Capital you can trace
ZTFI-1 art. 177 points to ZBNIP art. 11, and art. 11 prints the IFD tiers verbatim: €750,000, €150,000, €75,000 - with art. 11(5) confirming that non-trading-book holdings do not make a firm a dealer.Art. 177 to ZBNIP art. 11.
✓
€22,000 of cover
The ZTFI-1 guarantee scheme covers €22,000 per client, per the Ministry of Finance's note of 14 May 2026 - €2,000 above the Directive 97/9/EC minimum - and every firm licensed for investment services is a member, with the ATVP register doubling as the list.Above the directive.
✓
A tax rate with an end date
22% corporate income tax applies to the tax bases of 2024 to 2028 under the reconstruction act; the general rate the statute returns to is 19%, on the FURS page dated 27 July 2026.19% after 2028.
✓
The 30-state passport
One ZTFI-1 licence serves the EEA by notification under the one-month and three-month periods of MiFID II arts 34-35; a bank providing the same services is licensed by Banka Slovenije with ATVP conduct supervision.One ZTFI-1 licence.
✓
Six months, in Slovene
The clock to plan against is the six months of MiFID II art. 7(3) from a complete file; the ATVP publishes no processing statistics to shorten it. The file is in Slovene, the licensed board sits in Ljubljana, and completeness at filing is the only lever on time.MiFID II art. 7(3); Slovene file.
How it compares
How Slovenia differs from other routes.
The honest comparison: a tariff in points and €22,000 of cover - against a fee-per-service neighbour to the south and a flat-tax neighbour to the north-east.
Slovenia vs other jurisdictions
| Feature |  Slovenia | Other jurisdictions |
|---|---|---|
| Regime | ZTFI-1 · ZBNIP - Securities Market Agency (ATVP) | ZTK Croatia · WAG 2018 Austria |
| Capital | €75k / €150k / €750k - ZBNIP art. 11 | ZTK čl. 10 Croatia · WPFG Art. 13 Austria, same tiers |
| Passport | 30 EEA states · no art. 3 light regime | Austria Art. 4 providers none |
| Timeline | 6 months, MiFID II art. 7(3) · no published stats | Austria 6 months (WAG Art. 3 para 5) · Hungary 3 months |
Regime
SloveniaZTFI-1 · ZBNIP - Securities Market Agency (ATVP)
Other jurisdictionsZTK Croatia · WAG 2018 Austria
Capital
Slovenia€75k / €150k / €750k - ZBNIP art. 11
Other jurisdictionsZTK čl. 10 Croatia · WPFG Art. 13 Austria, same tiers
Passport
Slovenia30 EEA states · no art. 3 light regime
Other jurisdictionsAustria Art. 4 providers none
Timeline
Slovenia6 months, MiFID II art. 7(3) · no published stats
Other jurisdictionsAustria 6 months (WAG Art. 3 para 5) · Hungary 3 months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Slovenia | Borznoposredniška družba - ATVP | 22% to 2028 · 19% general | ZBNIP art. 11 €75k-€750k, licence max €5,040 |
 Croatia | Investicijsko društvo - HANFA | 10% to €1m revenue · 18% above | ZTK čl. 10 €75k-€750k, fee €1,400-€10,200 a service |
 Austria | Wertpapierfirma - FMA | 23% CIT | WPFG Art. 13 €75k-€750k, AG or cooperative, no fee |
 Hungary | Befektetési vállalkozás - MNB | 9% CIT · local tax up to 2% | Bszt. § 13 €75k-€750k, 3 months, fee HUF 2.7m |
SloveniaLicense typeBorznoposredniška družba - ATVP
Taxation22% to 2028 · 19% general
RequirementsZBNIP art. 11 €75k-€750k, licence max €5,040
CroatiaLicense typeInvesticijsko društvo - HANFA
Taxation10% to €1m revenue · 18% above
RequirementsZTK čl. 10 €75k-€750k, fee €1,400-€10,200 a service
AustriaLicense typeWertpapierfirma - FMA
Taxation23% CIT
RequirementsWPFG Art. 13 €75k-€750k, AG or cooperative, no fee
HungaryLicense typeBefektetési vállalkozás - MNB
Taxation9% CIT · local tax up to 2%
RequirementsBszt. § 13 €75k-€750k, 3 months, fee HUF 2.7m
Before you apply
Requirements for the Slovenian licence.Requirements for the licence.
The ATVP reviews under ZTFI-1 and ZBNIP, and the application is priced before it is read - 400 points a service. The checklist below is what a passing file contains.
01
Slovenian legal person - a borznoposredniška družba with its seat in Slovenia under ZTFI-1 art. 20(2); no individual can hold the licence.
02
Initial capital - €75,000, €150,000 or €750,000 under ZBNIP art. 11 by service set, as ZTFI-1 art. 177 requires.
03
Management-board licences - each member needs the ATVP's dovoljenje za opravljanje funkcije člana uprave (tariff 4/2, 200 points), and since ZTFI-1C supervisory-board members need one too.
04
Qualifying holders - approved by the ATVP; ZTFI-1 sets no foreign-ownership limit.
05
Business plan and organisation - compliance, risk management and internal audit under Delegated Regulation (EU) 2017/565, plus the ICT continuity policy and plans ZTFI-1D added for DORA.
06
Prudential machinery - ZBNIP applies Regulation (EU) 2019/2033 directly: K-factors, a quarter of fixed overheads and the permanent minimum; art. 7 lets the ATVP move a firm with consolidated assets of €5 billion or more under the CRR.
07
Client-asset arrangements - segregation under the ZTFI-1 chapter on safeguarding client instruments and money where the service set holds them.
08
Investor compensation - membership of the sistem jamstva za terjatve vlagateljev at €22,000 per client; the ATVP's licence register is also the scheme's list of members.
09
The tariff - 400 points per investment service at €4.20, at most 1,200 points (€5,040); 200 points per ancillary service, at most 600 (€2,520).
10
Slovene-language filing - the ATVP publishes some English translations, but the statute, the forms and the questions run in Slovene.
01
Legal person, seat in Slovenia.
02
Capital per ZBNIP art. 11.
03
Board members licensed individually.
04
Holders approved by the ATVP.
05
2017/565 organisation, DORA plan.
06
IFR own funds live.
07
Client assets segregated.
08
Scheme membership, €22,000.
09
Tariff in points, computed.
10
Filing in Slovene.
Reflects ZTFI-1 as amended by ZTFI-1B, 1C and 1D, ZBNIP and the ATVP tariff (Uradni list 75/19, 86/21) as of 2026.ZTFI-1 + ZBNIP + ATVP tariff, as of 2026.
How it works
From first call to the ATVP register.
01
Act and tier
ZTFI-1, ZISDU-3 or ZUAIS decided, services fixed under art. 11, tier chosen - €75k, €150k or €750k - and the tariff computed in points before drafting.ZTFI-1, ZISDU-3 or ZUAIS.
02
Company and bench
Slovenian entity, capital paid, board members ready for their individual ATVP licences and holders for approval.Ready for licences.
03
The application
Business plan, organisation, ICT continuity and the policies - complete at filing, the 6/1 tariff computed, so the art. 7(3) clock starts.Complete, tariff computed.
04
ATVP review
Six months from a complete file under MiFID II art. 7(3) - the ATVP publishes no processing statistics, so we plan to the outer wall.Six months, MiFID II.
05
Licence and passport
Register entry, scheme membership, EEA notifications - 30 markets open.30 markets open.
Quick facts
RegulatorSecurities Market Agency (ATVP)
LicenceBorznoposredniška družba
No client assets€75,000
General tier€150,000
Dealing · underwriting€750,000
Licence tariff400 points a service, max €5,040
Statutory clock6 months (MiFID II art. 7(3))
Corporate tax22% to 2028 · 19% general
The ATVP publishes no processing statistics - so the honest plan is MiFID II's six months plus the time it takes to make the file complete, priced in points before it is read.
On the ground in Slovenia
Run from our Ljubljana office.
Prifinance - Slovenia
Ljubljana · Slovenia
Ljubljana, Slovenia
01
Company and capital
Slovenian legal person with its seat in Slovenia (ZTFI-1 art. 20(2)), in the company form the ATVP accepts for your model, ZBNIP art. 11 capital paid to the tier - the ground closed before the file opens.Art. 20(2) closed.
02
The ATVP file, in Slovene
Business plan, the 2017/565 organisation, the DORA-era ICT continuity plan and the policies drafted in Slovene - and defended through the ATVP's question rounds.With the DORA plan.
03
Board licences
Management-board and, since ZTFI-1C, supervisory-board members taken through their individual ATVP licences at 200 points each - sourced from Ljubljana's regulated-firm bench, with our Budapest office close by.200 points each.
04
Passporting and launch
Guarantee-scheme membership by licence, EEA notifications at one month for services and three for a branch, banking live - 30 markets from one Slovenian base.30 states at launch.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Slovenia.
A 22% rate with a 2028 end date, 22% VAT with financial services exempt and a tariff that replaces the licence fee.
22% through 2028
The general davek od dohodkov pravnih oseb is 19%, but the tax bases of 2024, 2025, 2026, 2027 and 2028 are taxed at 22% under the post-flood reconstruction act, per the FURS page of 27 July 2026.19% general.
Dividend withholding
Dividends to non-resident shareholders carry a davčni odtegljaj under ZDDPO-2; the rate is confirmed per shareholder before the structure is fixed.Per ZDDPO-2, confirmed.
DDV 22%
The standard rate is 22%, with 9.5% and 5% reduced rates on the FURS page of 1 September 2026; the financial-services exemption sits in ZDDV-1 art. 44 and is confirmed per service line.Finance exempt.
No bank levy on a brokerage
The FURS page lists a davek na bilančno vsoto bank as a separate levy on banks' balance sheets - a line a brokerage firm's model does not carry, confirmed per structure.Banks only.
The annual supervision fee
Part II of the ATVP tariff sets the letno nadomestilo za nadzor; the basis for a brokerage firm is confirmed with the ATVP for your service set, and the 2021 amendment added 600 points, or 50 a month, for systematic internalisers. Itemised in your quote.Part II, in points.
The licence tariff
400 points per investment service at €4.20, at most 1,200 points (€5,040); 200 per ancillary service, at most 600 (€2,520); 200 points (€840) per board member; 100 points (€420) per tied agent.At the cap.
Tax summary
Corporate tax22% to 2028 · 19% general
Dividend withholdingPer ZDDPO-2, confirmed per case
VAT22% · finance exempt
Licence tariff€5,040 maximum
Board licence€840 each
*Figures as of 2026 per Slovenian law and the FURS. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Slovenian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
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Slovenia · ATVP
Launch your investment firm in Slovenia with expert support.
Full-service assistance - from the Slovenian entity and the ZTFI-1 file to the ATVP licence, board licences, passporting and ongoing compliance - run through our Ljubljana office.
Get a consultation →Free legal opinion
Is Slovenia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Slovenian investment licence, answered.
Which licence does an investment firm need in Slovenia?+
The dovoljenje za opravljanje investicijskih storitev in poslov for a borznoposredniška družba under ZTFI-1 - a legal person with its seat in Slovenia (art. 20(2)) licensed for the nine services of art. 11. Fund managers are licensed separately as a družba za upravljanje under ZISDU-3 or an AIF manager under ZUAIS.
What capital does ZBNIP art. 11 require?+
€750,000 for own-account dealing or firm-commitment underwriting, and for an OTF operator dealing on own account; €75,000 for a firm limited to reception and transmission, execution, portfolio management, advice and placing without firm commitment that may not manage client money or instruments; €150,000 for every other firm. ZTFI-1 art. 177 makes the cross-reference.
How long does the ATVP take?+
Six months from a complete application under MiFID II art. 7(3), which binds Slovenia and is the clock we plan against. The ATVP publishes no processing statistics, so there is no shorter average to quote. Completeness at filing is the lever: a file that is complete on day one runs the clock once.
What does the licence cost at the ATVP?+
It is computed, not quoted: a point is €4.20 under the tariff of Uradni list 75/19 as amended by 86/21; item 6/1 charges 400 points per investment service up to 1,200 points, so €1,680 for one service and €5,040 at the cap; ancillary services 200 points each up to 600; a board-member licence 200 points, €840.
Is there a light adviser regime?+
No - ZTFI-1 has no MiFID art. 3 light regime. The only step below the full licence is the odvisni borznoposredniški zastopnik under art. 40, a tied agent acting in the name and for the account of one investment firm, registered at 100 points (€420).
Who has to be in place?+
Management-board members each holding the ATVP's dovoljenje za opravljanje funkcije člana uprave, supervisory-board members with their own licence since ZTFI-1C, approved qualifying holders and staffed compliance, risk and internal-audit functions. Residency and staff minimums are confirmed per structure.
How is a client protected if the firm fails?+
The sistem jamstva za terjatve vlagateljev under ZTFI-1 guarantees €22,000 per investor, per the Ministry of Finance's note of 14 May 2026 - above the €20,000 minimum in Directive 97/9/EC. Every firm licensed for investment services is a member; the contribution mechanics are confirmed with the ATVP.
How are Slovenian investment firms taxed?+
22% corporate income tax on the tax bases of 2024 through 2028 under the reconstruction act, against a general rate of 19%; 22% VAT with financial services exempt under ZDDV-1 art. 44; a withholding on dividends to non-residents under ZDDPO-2 confirmed per shareholder; plus the ATVP's annual supervision fee in points.
Slovenia or Croatia for a new firm?+
Croatia is cheaper on tax - 10% up to €1 million of revenue, 18% above - and prices each service in euro, from €1,400 to €10,200, with HANFA counting seven investment firms at end-2025. Slovenia caps the licence at €5,040, covers €22,000 per client and taxes at 22% until 2028. Zagreb for the rate; Ljubljana for the ceiling.
Why Prifinance for Slovenia?+
A Ljubljana office with our Budapest office close by, a file written in Slovene to ZTFI-1 and ZBNIP with the tariff computed before filing, and the board members taken through their individual ATVP licences ahead of the application. Guarantee-scheme membership and the EEA notifications run as part of launch.
Which licence?+
ZTFI-1 borznoposredniška družba.
Capital?+
€75k/€150k/€750k.
How long?+
Six months, MiFID II.
Cost?+
€4.20 a point, €5,040 cap.
Light regime?+
None - tied agents only.
People?+
Board members licensed.
Client protection?+
€22,000 per investor.
Taxes?+
22% to 2028.
Or Croatia?+
10% tax vs the ceiling.
Why you?+
Ljubljana office, Slovene file.
Client notes
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Slovenian route fits your project and what it will cost.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Securities Market Agency (ATVP) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.