This economy profile presents the Doing Business indicators for Slovakia. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June
1, 2014 (except for the paying taxes indicators, which cover the period January–December 2013).

Overview of Slovakia Economy – This page summarizes Doing Business 2015 data for Slovakia. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.

Pluses and minuses of the business climate in Slovakia

Slovakia’s basic economic environment still needs improvement. The rule of law is weak, allowing corruption to flourish, and there is a lack of transparency in the government and state-owned sector.

Entities of business law under the Business Code Act are entrepreneurs, the state and its bodies, local territory entities and other subjects. This Code recognizes these types of business corporations

Several types of companies can be established in Slovakia, according to the needs and possibilities of the owners.

This site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Slovak Republic.

The companies register is administered by the Ministry of Justice. Entry to the register is obligatory for companies, cooperatives and for some specific physical entities stated by law. 

19% on income up to 35 022 EUR. 25% on income above 35 022 EUR

The standard rate of VAT is 20 percent. There is a reduced rate of VAT amounting to 10 percent. This rate is applicable to certain pharmaceuticals and healthcare products and to books.

Slovakian VAT compliance and rates

The Corporate Tax Rate in Slovakia stands at 22 percent. Corporate Tax Rate in Slovakia averaged 27.43 percent from 1993 until 2015, reaching an all time high of 45 percent in 1993 and a record low of 19 percent in 2004. Corporate Tax Rate in Slovakia is reported by the Tax Directorate, Slovakia.

The Personal Income Tax Rate in Slovakia stands at 25 percent. Personal Income Tax Rate in Slovakia averaged 29.55 percent from 1995 until 2014, reaching an all time high of 42 percent in 1996 and a record low of 19 percent in 2004. Personal Income Tax Rate in Slovakia is reported by the Tax Directorate, Slovakia.

Visa information for tourists, students and business

By applying for Slovak Visa, a foreigner applies for so-called Schengen Visa which allows him/her to travel inside of the Schengen Area without any restrictions. Schengen Visa holders do not need additional special visa for Slovakia.

This site describes all forms of public transportation in the major cities in Slovakia

Slovak Telekom is the largest Slovak multimedia operator with many years of experience and responsible approach to doing business. The company is an universal operator offering residential and corporate clientele benefits of a comprehensive solution provided from a single source. Telekom brand offers the complex portfolio of voice and data services provided via fixed and mobile network.

May, 2015 – Deutsche Telekom is acquiring the 49-percent stake of Slovak Telekom that it does not already own for a purchase price of EUR 900 million

Getting to Slovakia – quickly and cheaply – gets easier every season. Getting around inside Slovakia remains easy and inexpensive.

Labor Law in Slovakia

This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, improve job quality for workers, or make workers redundant for economic reasons in Slovak Republic. 

Unemployment benefit system consists of unemployment insurance and social assistance.

Social insurance information for Slovakia from the US Social Security Administration

Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more

Cost of everyday items

US Department of State – Go to Safety and Security for updates from the Swedish government

Before travelling, the Department strongly recommends that you obtain comprehensive travel insurance which will cover all overseas medical costs, including medical repatriation/evacuation, repatriation of remains and legal costs. 

Most schools in Slovakia are owned by the state, though there are a few church-owned and private schools. Students go to school five days a week, from Monday until Friday. Summer holiday in primary and secondary schools in Slovakia is from the 1st of July until the 31st of August. There is a few days holiday around Christmas and Easter, and on national holidays. Pre-school education in Slovakia is for children from 3 to 6 years old.

A complete description of the education system from primary through university

Attitudes and values are very important in trying to develop a business relationship between two cultures or countries. Slovaks are well known for their professionalism and level-headedness in business. They are friendly, but reserved, and it will take a few visits to get to know you before they can really feel comfortable with you.

Guide to Slovakia and Slovak culture, society, language, etiquette, customs

The climate of the Slovakia can be described as typical European continental influenced climate with warm, dry summers and fairly cold winters. January is the coldest month with daytime temperatures usually around zero, but in some cases winter months can be very cold with temperatures far below zero and strong, cold northeasterly winds, called Bora, especially in the mountainous regions. 

Slovakia belongs to the northern moderate climatic zone, with four seasons. The weather in Slovakia changes a lot by the influence of dry continental air from the west and the humid ocean air from the North, Baltic and Mediterranean Sea. 

Schedule of public and defacto holidays

National holidays in Slovakia

Demographic information includes population, quality of life, health, sports, technology, energy and the environment

This CIA site features map and brief descriptions of the geography, people, government, economy, communications, transportation, military and transnational issues

Import and export regulations from the Slovak Republic customs

Export information for Slavokia

See Trade Agreements on this site

Apartments and houses for rent in Bratislava

As Slovak Republic is part of the European Union, there are regulations in travel industry, which ensure that the standards are comparable to those in other EU countries.

Information portal about tourism in Slovakia. Cultural and natural sights, UNESCO, spa resorts, activities, accommodation, interactive maps, current events and more.

Popular Destinations in Slovakia