The depository of a "standard fund" or of a "special fund" must be incorporated within the EU/EEA. According to Directive 85/611/EEC, a depository of an  undertaking for collective investment in transferable securities (UCITS) must either have its registered office in the same EU country as that of the undertaking or be established in the EU country if its registered office is in another EU country. Managers of standard funds, European standard funds, alternative investment funds and foreign alternative investment funds must have their registered office and headquarters in the Slovak Republic. EU/EEA-incorporated management companies may establish a branch in the Slovak Republic, subject to notification (see Directive 2011/61/EU).
"Section 4 - Funds and their classification
(1) Funds are classified into domestic collective investment undertakings and foreign collective investment undertakings.
(2) A domestic collective investment undertaking may be:
(a) a common fund or an investment fund with variable capital;
(b) a domestic collective investment undertaking with legal personality, being a commercial company or a cooperative having its registered office in the territory of the Slovak Republic, collecting funds from multiple investors in order to make investments in accordance with the defined investment policy in favour of those investors.
(3) A domestic collective investment undertaking as defined in paragraph 2(a) may be established as a standard fund or as a special fund. [...]
(5) A standard fund is deemed to be a fund, into which funds are collected through public offers with the aim of investing the funds so collected into transferable securities and other liquid financial assets under Section 88 on the principle of risk limitation and risk spreading. The principle of risk limitation and risk spreading does not apply to a standard fund or to its sub-fund that is a feeder fund. Where a standard fund meets the conditions stipulated by this Act, it is deemed to be a fund meeting the conditions laid down by a legally binding act of the European Union referred to under point 1 of Annex 1. A standard fund may not be converted into an alternative investment fund.
(6) An alternative investment fund is deemed to be a domestic collective investment undertaking which is not a standard fund and into which funds are collected through public or private offers with the aim of investing the funds so collected in assets specified by this Act or determined by the alternative investment fund's rules. An alternative investment fund is deemed to be a collective investment undertaking which is not subject to the European Union's legally binding act relating to undertakings for collective investment in transferable securities. An alternative investment fund is deemed to be a special fund and a domestic collective investment undertaking as defined in paragraph 2(b).
(7) A special fund may be a public special fund or a qualified investors' special fund. A public special fund may be:
(a) a special securities fund; (b) a special alternative investment fund; (c) a special real-estate fund.
[...]
Section 27 - Management company and foreign management company
(1) A management company is a joint-stock company established for the purpose of conducting business, which has its registered office in the territory of the Slovak Republic and whose scope of business is the establishment and management of standard funds and European standard funds or alternative investment funds and foreign alternative investment funds under an authorisation granted by Národná banka Slovenska; it is incorporated in the Commercial Register. [...]
(14) A foreign management company is a legal entity having its registered office outside the territory of the Slovak Republic, which has an authorisation for establishing and managing collective investment undertakings granted by the country in which it has its registered office. 
(15) A branch of a foreign management company is an organisational unit of a foreign management company which is situated in the territory of the Slovak Republic, all the branches of a foreign management company established in the territory of the Slovak Republic by 
a foreign management company shall, in regard to the authorisation to conduct activities in the Slovak Republic, be considered a single branch.
Section 28 - Authorisation for establishing and managing standard funds and European standard funds
(1) The decision on whether to grant an authorisation for establishing and managing standard funds and European standard funds shall be taken by Národná banka Slovenska, and an application for such authorisation shall be submitted by a joint-stock company or by a founder.
(2) Where the applicant is a joint-stock company, Národná banka Slovenska shall grant an authorisation as referred to in paragraph 1 only upon the proven fulfilment of the following conditions: [...]
(h) the registered office and headquarters of the management company is situated in the territory of the Slovak Republic;
[...]
Section 28a - Authorisation for establishing and managing alternative investment funds and foreign alternative investment funds
(1) The decision on whether to grant an authorisation for establishing and managing alternative investment funds and foreign alternative investment funds shall be taken by Národná banka Slovenska; an application for such authorisation may be submitted by a joint-stock company or a founder thereof.
(2) In the case that the applicant is a joint-stock company, Národná banka Slovenska shall grant an authorisation as referred to in paragraph 1 only upon proven fulfilment of the following conditions: [...]
(h) the registered office and headquarters of the management company is situated in the territory of the Slovak Republic;
[...]
Section 60 - General provisions on the cross-border performance of activities [...]
(2) A foreign management company, which has its registered office in the territory of a Member State may perform the activity for which it has been granted an authorisation by the competent supervisory authority of its home Member State, either by the establishment of a branch or on the basis of the freedom to provide services. A foreign management company may establish and manage standard funds under this Act on the basis of:
(a) the notification referred to in Section 64 or the notification referred to in Section 65; and
(b) fulfilment of the conditions stipulated by the legal regulations of the foreign management company's home Member State and by this Act.
[...]
Section 64 - Performance of activities by a foreign management company in the territory of the Slovak Republic through the establishment of a branch
(1) A foreign management company which has its registered office in the territory of another Member State may establish a branch in the territory of the Slovak Republic for the purposes of performance of activities for which it has been granted an authorisation for such activities by the competent authority of its home Member state, on the basis of a notification of the competent supervisory authority of its home Member State delivered to Národná banka Slovenska, along with information on the projected operation of this foreign management company in the territory of the Slovak Republic.
[...]
Section 66c - Authorisation for the activities of a non-European management company
(1) A non-European management company may manage alternative investment funds or European alternative investment funds and distribute securities or shareholdings in alternative investment funds or foreign alternative investment funds that it manages in the Slovak Republic or in another Member State based on an authorisation granted by Národná banka Slovenska, if the Slovak Republic is the reference Member State of this non-European management company.
(2) For authorisation under paragraph 1 to be granted, fulfilment of the following conditions must be demonstrated:
(a) the Slovak Republic has been determined as the reference Member State in accordance with this Act and such determination has been approved by the European Supervisory Authority (European Securities and Markets Authority) or that it was acted in accordance with paragraph 5;
(b) the conditions under Section 28a(2)(a) to (g) and (k); the provision of (h) are unprejudiced hereby;
(c) a legal representative for the non-European management company in the Slovak Republic has been designated;
(d) the legal representative of the non-European management company under (c) together with the non-European management company shall ensure the performance of the function of a contact point for investors, for Národná banka Slovenska, for other relevant competent supervisory authorities of the Member States and for the European Supervisory Authority (European Securities and Markets Authority) in the scope of authorised activities of the non-European management company in the European Union and shall be sufficiently competent and equipped at least for performing the function of compliance under this Act;
(e) cooperation arrangements44a are concluded between Národná banka Slovenska, the relevant competent supervisory authorities of the home Member States of the European alternative investment funds concerned and the supervisory authorities of a non-Member State, in which the non-European management company is established, in order to ensure an effective exchange of information enabling Národná banka Slovenska and the competent supervisory authorities of the Member States concerned to exercise supervision;
(f) the non-European Member State, in which the non-European management company is established, is not listed among non-cooperative jurisdictions and territories elaborated by the Financial Action Task Force on Money Laundering, established within the Organisation for Economic Cooperation and Development, OECD (hereinafter 'FATF');
(g) the non-European Member State, in which the non-European management company is located, has concluded and has an international agreement or a multilateral convention with the Slovak Republic in effect which are in accordance with the provisions of Section 26 of Model Tax Convention of the OECD on Income and Capital and which ensure the effective exchange of information in tax matters;
(h) exercise of supervision by Národná banka Slovenska is not impeded by the legal code of a non-Member State nor by any limitations in the competences of supervisory authorities of a non-Member State in exercising supervision;
(i) a non-European management company shall demonstrate that if there are existing provisions of this Act or of a legally binding act of the European Union governing alternative investment fund managers with which compliance is impossible for the nonEuropean management company due to their incompatibility with the provisions of legal acts that relate to the non-European management company or non-European alternative investment fund and that:
1. it is not possible to comply with both the provisions of this Act or of a legally binding act of the European Union governing alternative investment fund managers and the provisions of legal acts that relate to the non-European management company or nonEuropean alternative investment fund;
2. the legal code that relates to the non-European management company or non-European alternative investment fund provides for equal rules having the same regulatory purpose and providing the same level of protection for investors in the respective fund and that the non-European management company and non-European alternative investment fund complies with the provisions of this legal code.
[...]
Section 70
(1) A domestic collective investment undertaking shall have a depository. An umbrella fund and its sub-funds shall have one depository. The depository shall ensure the depository safekeeping of assets in the collective investment undertaking concerned and shall verify whether the management company handles the assets in that collective investment undertaking in accordance with this Act.
(2) The depository of a standard fund or of a special fund may only be:
(a) a bank whose issued authorisation covers the provision of a non-core service consisting in the safekeeping and management of financial instruments for the account of a client,  including the holder's administration and related services, in particular management of funds and financial collaterals;
(b) a foreign bank which has its registered office in the territory of a Member State having its branch established in the territory of the Slovak Republic and whose authorisation issued in accordance with the respective legal regulation of its home Member State covers the provision of the non-core service as specified in (a).
(3) A depository of an entity as referred to in Section 4(2)(b) may only be:
(a) an entity as referred to in paragraph 2;
(b) a stockbroker subject to a capital adequacy requirement under another act47 at least in the amount of EUR 730,000 and whose authorisation for providing investment services covers the provision of the ancillary service of safekeeping and management of financial instruments on account of a client, including holder's administration and related services, in particular the management of funds and financial collaterals;
(c) a foreign stockbroker which has its registered office in the territory of a Member State having a branch established in the territory of the Slovak Republic and whose authorisation issued in accordance with the respective legal regulation of its home Member State covers the ancillary service and which is subject to the same capital adequacy requirement as specified in (b);
(d) in the case of an entity as referred to in Section 4(2)(b) with no applicable redemption right during the period of five years from the date of the initial investment, which fund, in accordance with its investment policy, does not invest in assets that must be safekept under other legislation, or invests mainly in issuers or unlisted companies in order to acquire potential control over such companies under Section 137c, a depository may also be an entity which performs the functions of a depository as part of its professional or business activities that are subject to mandatory professional registration, or the performance of which is subject to legal regulations or rules of professional conduct, and can provide sufficient financial and professional guarantees to enable it to perform effectively the depository functions and fulfil duties arising under those functions. [...]" (Act on Collective Investment (203/2011 Coll.), last amended by Act no. 156/2019 Coll. of 13 May 2019, Sections 4, 27, 28, 28a, 60, 64, 66c and 70 [unofficial translation])
Act on Collective Investment (203/2011 Coll.), last amended by Act no. 156/2019 Coll. of 13 May 2019, Sections 4, 27, 28, 28a, 60, 64, 66c and 70
Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), Article 23
Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010
[<a href="https://www.slov-lex.sk/pravne-predpisy/SK/ZZ/2011/203/20190701.html">Act</a>],[<a href="https://www.nbs.sk/_img/Documents/_Legislativa/_BasicActs/A203_2011.pdf">Act_ENG</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32009L0065">Directive</a>],[<a href="https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02011L0061-20190113">Directive</a>]