Slovakia: a Place to Grow

16th Edition Your key to understanding the Slovak business environment and its challenges € 7 investmentinvestment AdvisoryAdvisory gUgUididEE 2015/20162015/2016

17th Edition Your key to understanding the Slovak business environment € 7 investment Advisory gUidE 2016/2017

Slovakia: a place to grow

general partner content advisor

titulka.indd 1 18. 11. 2016 11:44:39 titulka.indd 1 20. 11. 2015 13:30:43 The Slovak investment environment Contents 3 through the eyes of the Investment Support Association - ISA Investment Advisory Guide CONTENTS Investor’s checklist 4-13 Slovakia basics 4 Slovakia & central Europe: distances, population 4 Trade Development Agency different type of production for example electric goods etc. Foreign direct investment: overview 5 Industrial parks in Slovakia 6 (SARIO) has 42 projects with Following the manufacturing industry are the services (20%) Slovak infrastructure 6 the investment potential in and IT sector (10%). Business service centres (BSCs) 7 Information on Slovak regions 8-9 progress. Investment Support the end of this election term in 2020, courts should act faster and the rule of law Structure of regional economies, Largest companies in Slovak regions 8-9 Association (ISA) reports that it ISA: Queries by sectors should improve. That is at least the vision of Justice Minister Lucia Žitňanská, who Useful contact details 10 prepared 94 investors´ queries in took up the post in April 2016 – one that she also held once before. Industry in Slovak regions 10 By Timeline: Construction of a new plant 12 For now, it is still just a vision and a promise, just like the one to scrap tax licences, which the gov- the year 2016. Timeline: Establishment of a new company 13 Services ernment pledged to do by 2018, but which still lacks an actual legislative proposal. Meanwhile, the recent Timeline: Mass recruitment 13 20% changes in taxes and levies, set to become effective as of 2017, come as a disappointment to entrepreneurs IT 10% active in Slovakia. Much like the tax on dividends, some see the changes as violating the principle of Opportunities 14-25 Other single taxation. Automotive industry 14 ISA: Queries by individual months 18% Startups 18 Even though the tax policy might not always be a cause for celebration among businesses and there Information technology (IT) 20 remains a lack of qualified workers in some sectors, Slovakia has confirmed its position as an automotive Investment opportunities: patents and startups 22 13 Agriculture 23 12 industry stronghold. 11 11 11 Manufacturing OthTheer three carmakers operating in the country hit production records in 2015, and they are expected 26-43 9 Industry Government policy & legislation to 18%repeat or increase those numbers in 2016. Construction is underway in Nitra for the premises of the Tax changes and combating shells 26 7 7 7 52% 6 Legislation: FAQ from Slovak clients 27 fourth carmaker to join them, Jaguar Land Rover (JLR). It is expected to boost economic growth, and Interview: Justice Minister 28 increase the high technological standard for car production. Supporting investments in Slovakia 30 Legislation: FAQ from foreign clients 31 The ink on the contract between JLR and Slovakia was hardly dry before the question was asked Criminal liability of legal entities 32 whether Slovakia could become a home to yet one more carmaker. Yes, it can, say market watchers. But it 10 largest law firms in Slovakia 37 10 largest international law firms in Slovakia 38 January February March April May June July August September October The aim of the ISA is to assist investors in the penetration will need to focus on innovation and smart solutions, and electric cars could be an answer for that. 10 largest Slovak law firms 39 to the Slovak market. The five years of existence of the associ- And there is a potential for this development, given the thriving startup ecosystem in the country, Law firms - Top 5 all-time deals in Slovakia 40 which is mostly shaped by the private sector. People from the startup community believe that the poten- Law lirms - 2015/2016 top 5 deals in Slovakia 41 Slovakia´s investment environment showed the potential ation has profiled main fields, in which members support the International law firms in Slovakia 42 for grow and to surprise of some, this is not happening only investors - Architecture & Design, Audit & Tax Services, tial could be even more promising if only public initiatives did not run parallel to private ones, serving as Slovak law firms in Slovakia 43 competition rather than a partnership. in the western part, but throughout the country. Investors Development Services, Construction Engineering, Environ- mental Advisory, Euro Funds Assistance, Energy, Finance & But none of that shapes the atmosphere of the country as much as the corruption scandals and per- Economy & business environment 44-51 are interested to explore new opportunities in the other ception of corruption have, particularly over the past year. People are losing their trust in institutions and Slovak economy 44 Accounting Services, Insurance Services, IT & Telecom, Legal Statistics: Slovakia & the European Union 45 regions of Slovakia as well. Among the most frequently the political situation in the country. Much like in other countries in the region, this leads some voters to Investment highlights 46 expressed factors are the educated workforce with lower Services, Recruitment & HR Services, Management Advisory, Chambers of commerce 48 look toward extreme alternatives. Consulting firms: management 49 labor costs in a combination with high productivity and Real Estate. These fields show the results of cooperation In a time of economic growth and prosperity, this looks to be the main challenge now facing the Consulting firms: finance and tax 50 most importantly – Eurozone membership and overall11 between ISA, their experts and experiences and SARIO with country. Consulting firms: specialised 51 stability. The region itself is responsive and keen to help in know-how. Using their means and professional experience, By Michaela Terenzani, The Slovak Spectator 7 7 the SARIO/ ISA can assist the investors even in setting up Labour market & education 52-57 job creation with the 6multilevel cooperation of the regional Labour market: overview 52 5 5 their business case. This provides Slovakia with the potential Job portals 53 government, local schools and universities, which could be HR companies in Slovakia 53 seen as huge benefit3 and step forward. Successful projects in of attracting new investment, bringing in (along with the IS Statistics: wages & labour costs 54 2 Statistics: labour market 55 the regions could work as an example of continuously company) also up-to-date technology or entire research depart- Employment relations in Slovakia 56 improving investment environment of the country. It ments. FAQ: Dealing with Slovaks 56 y y l y t r r N FIN r r a ly e e a a rch ri u us b b S remainsu uthe trutha thatp all theM regionsJune of JSlovakia have quiteo n r A ug t a b M A tem c Real estate 58-65 J e p O F e Róbert Šimončič large advantage in educated, productive and multilingualS EST Real estate market overview 58 General Manager of SARIO and Chairman of the ISA Executive Committee RUS Real estate prices in Slovakia (sale, rent) 60 Moscow workforce which tops EU statistics. According to the Euro- DK IRL LT Construction firms 62 Copenhagen pean Commission, Slovak labor force ranks third in the GB Vilnius BY Real estate consulting 63 Developers 65 NL Warsaw EU in attaining upper secondary or tertiary education and B Real estate agencies 65 Brussels D PL for the automotive industry. Although the truth Using their means and professional experience, L Prague Kyiv 80% of our population speaks at least one foreign language. CZ UA SK F Vienna MD Foreigners in Slovakia 66-69 Inis thatterms the of performance,“wheels” of Slovakthat sector labor forceserved ranks as afirst in the SARIO/ISA-tandem can assist the investors CH A H SLO RO Chisinau What foreigners ask before relocation to Slovakia? 66 CEE labor productivity charts and yet still keeping high Bucharest Trade licences and doing business in Slovakia 66 “vehicle” for other industry sectors as well. The P Belgrade even in setting up their business case. This AND I BIH Lisbon SRB So a FAQ: EU citizens - dealing with immigration authorities 67 cost efficiency. From the perspective of the structural BG E FAQ: Non-EU citizens dealing with car manufacturers accelerated the development of provides Slovakia with the potential of attracting Rome AL MK investment demands, there is not sole emphasis on car Tirana immigration authorities 68 industrythe entire anymore supply-chain, for several deli yearsvering now. theEven necessary if the data new investment, bringing in (along with the GR TR Relocation companies 68 Athens showsproduction that theinputs, automotive as well industry as support still services.have massive company) also up-to-date technology or entire M CY Index 70 impactAlong onwith investments, that, Slo vakiaas evidenced is gradually by the becominglatest Jaguar an research departments. LandroverSSC for the investment entire Euroin Nitra,-African which region.results in According massively expand subcontracting companies and increasing total to independent analyses, the SSC-sector employs employment ISA reports reflect that almost 40% of invest- Róbert Šimončič ment35 to queries40 thousand in manufacturing people deli industryvering servicesare focused for on General Manager of SARIO and Chairman of the ISA Executive Committee

SP016088/001

titulka.indd 2 18. 11. 2016 11:14:01 4 Investor’s Checklist Investor’s Checklist 5

Slovakia Basics (more information  pages 14-25) Government structure: parliamentary In Slovakia, there is a special levy for Ratings Main economic activities by gross Main import countries (2015): Main sectors by no. of employees 2 Area: 49,036 km democracy – the cabinet headed by doing business in regulated sectors. Slovakia: Foreign Currency added value (2014): Share of (2Q/2016): Country import Land use (2014): agricultural land: Opportunities the prime minister holds the executive In 2016 the government proposed Long-Term Debt (Nov 2014) Agriculture, forestry and fishing 4.4% Manufacturing 24.6% Germany 15.7% 48.9%, forest: 41.1%, urban areas: Slovakia promotes itself as the largest car powers and the country’s highest doubling the levy to a monthly rate of rating outlook Industry 25.26% Wholesale and retail trade; Czech Republic 11.2% 12.5% Construction 8.36% Repair of motor vehicles 4.8%, water: 1.9%, other: 3.3% producer per capita in the world (190 legislative body is the 150-member 0.726 percent, or 8.712 percent per Standard & Poor‘s A+ stable China 8.7% Trade,transport, accom., food serv. 22.14% Construction 9.0% Protected area as national parks, in 2015) with three carmakers located parliament. The president is the head annum as of the beginning of 2017. Moody‘s A2 stable South Korea 6.6% Information and communication 4.38% Public administration, defence 8.9% in western Slovakia (Bratislava, Trnava, Fitch A+ stable Russia 5.4% & social security protected grounds: 22.65% of state and the formal head of the Only companies with profits exceeding Financial and insurance activities 4.19% Poland 5.1% Health and social work 7.4% Borders with neighbouring states: Hun- and close to Žilina). While the fourth executive office with limited powers. €3 million would be obliged to pay the Real estate activities 6.72% Taxes Education 7.1% gary (654.8 km), Poland (541.1 km), carmaker, the British Jaguar Land Rover, Free trade agreements: Slovakia, as a levy, while the levy will apply only to Professional, scientific and technical Transport and storage 6.7% the Czech Republic (251.8 km), Austria is already building its plant near Nitra, member of the EU (the EU is a party to profits from activities conducted in the VAT basic rate 20% activities; administrative and support 7.38% Utility prices: VAT reduced rate on books, medicines service activities Accommodation, food ser. 4.6% (106.7 km) and Ukraine (97.8 km) it sees an even bigger space for the de- trade agreements and other agree- regulated sectors. The regulated sec- 10% Some utility prices are regulated by and selected food Public admin., education, health 13.56% the Regulatory Office for Network Other 19.2% Time zone: GMT/UTC +1 hour velopment of the network of carmakers’ ments with a trade component both in tors to which this levy applies include Income tax 19% Other 3.6% Currency: euro € subcontractors, especially in the east of the WTO context and bilaterally with energy, insurance and re-insurance, Corporate income tax (as of 2017) 21% Industries (ÚRSO). It issues new Economically active population Language: Slovak the country. The second strongest pillar certain countries and regions) has free public health insurance, electronic Foreign direct investment (EUR mil): regulations at the end of the year for by education (2Q/2016): Population (2015): 5.426 million of Slovakia’s industry is the electrotech- trade agreements with Norway, Ice- communications, pharmaceuticals, po- Tax for motor vehicles paid by business the next year. entities only Year Cumulative INFLOWS (48.8% men, 51.2% women) nical industry with companies in Galanta, land, the Faroe Islands, the former Yu- stal services, railway transport, public 2003 17,239 2,637 Electricity prices Elementary and without education 5.4% Average age of population (2015): Nitra, and Nové Mesto nad Váhom, to goslav Republic of Macedonia, Albania, water pipes and sewages, air transport Local taxes are set by municipalities. 2004 20,693 3,245 Electricity prices for households and Secondary without A level exams 28.1% 40.13 years mention a few. Other sectors with a tradi- Montenegro, Bosnia and Herzegovina, and provision of health care. They include taxes for real estate, dog li- 2005 25,087 2,501 small companies consist of several Secondary school with A level exams 44.2% Life expectancy (2015): 79.7 years tion in Slovakia are the chemical industry the Palestinian Authority, Syria, Tunisia, There is also a special levy in the cences, usage of public space and others. 2006 29,284 4,626 parts of which some are regulated by University 22.2% 2007 32,412 2,935 (women), 73 years (men) and forestry. IT is a promising sector in Morocco, Israel, Jordan, Lebanon, banking sector to be paid on corporate Excise taxes are applied on alcoholic the Regulatory Office for Network Note: English is compulsory starting beverages (spirits, wine, beer), electricity, 2008 36,226 3,323 Industries (ÚRSO). Total population increase per 1,000 Slovakia, where apart from Bratislava, Egypt, Algeria, Mexico, South Africa, and private individuals’ deposits. The 2009 36,469 -4 from the third grade; a second inhabitants (2015): 0.09% also in Košice and Žilina there have been CARIFORUM States, Madagascar, levy was set as degressive and should coal, natural gas, oil, and tobacco products 2010 37,665 1,336 Electricity prices for industrial foreign language is compulsory Nationalities: Slovak: 81.1%, Hungari- built strong IT clusters. Slovakia has also Mauritius, the Seychelles, Zimbabwe, gradually decrease from 0.4 percent to Tax licences: Companies registered in 2011 40,173 2,511 consumers: €0.112 per kWh (2015, from the fifth grade. an: 8.4%, Roma: 2% (10% - estima- become home to several business service the Republic of Korea, Papua New 0.1 percent. The special bank levy was Slovakia are obliged to pay tax licences. In 2012 41,780 2,321 Eurostat) ted), other: 1.7% (Czech, Ruthenian, centres, most of which are currently Guinea, Fiji, Iraq, Colombia, Peru and designed to be a temporary measure, practice, this means a minimal corporate 2013 42,072 -455 Electricity prices for businesses Labour cost of producing €100 tax that the company must pay even if it 2014 43,232 -455 Ukrainian, German, Polish, Russian), located in Bratislava with opportunities Central America (Source: EC) to be terminated once banks have * preliminary data in Slovakia also include regulated GDP (2015)*: 6.7% other and undeclared to spread into other parts of Slovakia. Regulation paid a total of €1 billion. In 2016 the has made a loss. However, if the company portions of the fee for the National Hungary €26.6 pays a tax licence in the year in which it Religion: Roman Catholic 62%, Evan- The trend of transitioning the economy The Regulatory Office for Network government revised the legislation, Cumulative FDI by country of origin (2014): Nuclear Fund (€3.21 per MWh as Slovakia €29.5 towards services is visible by the mushro- was in the red, it can gradually deduct of July 1, 2015) and the charge for Poland €31.7 gelical 5.9%, Greek Catholic 3.8%, Industries (ÚRSO) regulates the energy setting the levy at a flat 0.2 percent, Country Share of FDI Reformed 1.8%, Orthodox 0.9%, oming of startups and R&D centres, sector as well as water management valid until 2020. the sum of the paid tax licence from the operating the national grid (€21.99 Czech Republic €32.6 Netherlands 19.74% Estonia €39.5 other 1.6%, not specified 10.6%, no many of which can utilise EU funds or the in areas such as price policies, while The government also proposed corporate tax liability in the upcoming Austria 15.67% per MWh as of January 1, 2016). three years, or it can use all sums in the United Kingdom €58.8 religion 13.4%; Literacy: 99.6% state’s investment incentives. the sector of telecommunications imposing a new special levy on Czech Republic 10.29% Water Germany €60.0 first year after it made the loss, if its cor- Germany 8.56% Capital: Bratislava (population (more information  pages 26-43) and postal services is overseen by the insurance companies. They will be Regulated prices in Bratislava (water France €64.3 (2015): 422,932 Regulatory Authority of Electronic obliged to pay a special levy of 8 porate tax liability is minimally as high as Luxembourg 8.35% €1.1231 per m3, sewage €1.1059 Italy €66.0 Italy 6.42% Other major cities: Košice (239,200), Government Communications and Postal Services percent from non-life insurance policies the paid tax licence. Tax licence rates are m3); in Košice (water €1.572 per m3, Austria €67.2 divided into three groups (€480, €960, South Korea 6.40% Sweden €74.2 Banská Bystrica (79,027) policy & legislation (RÚ), which along with pricing over- as of 2017. Hungary 5.39% sewage €1.0800 per m3) (Source: Towns (2013): 138 (settlements with Membership in international institu- sees the distribution of frequencies. General government debt (2015): €2,880) based on the entity’s turnover Belgium 5.00% water management companies in * based on statistics provided by OECD more than 5,000 inhabitants) tions: European Union, the eurozone, The National Bank of Slovakia (NBS) 52.5% of GDP and whether it is a VAT payer. During Cyprus 2.75% Bratislava and eastern Slovakia) (GDP per hour worked, current prices) and Eurostat (labour costs per hour in euro, 2,890 (settlements NATO, OECD, WTO, WHO, UN, is responsible for financial market their first year of existence companies France 2.34% Villages (2013): State’s investment incentives: Transportation costs: whole economy - excluding agriculture and with fewer than 5,000 inhabitants) OSCE, and others supervision.  pages 30-31 are exempt from the payment of the tax Other 9.09% A united motor vehicle tax public administration) licence. The government also proposes Note: several companies which have Fuel prices (Oct, 2016): 98 octane invested in Slovakia are registered in the replacing the 14-percent health levy paid petrol €1.470 per litre, LPG €0.553, Trade unions: Unions in Slovakia Slovakia and central Europe: distance of selected destinations (km, min), population from dividends with a 7 percent tax on Netherlands, Luxembourg or Cyprus, even though their country of origin is different. diesel €1.110 work under the umbrella organisation Ostrava (294,000) (108 km, 1 h 40 min) dividends to be paid as of 2017. Toll rates: €0.020-€0.242 / km Confederation of Trade Unions (KOZ). Business entities: Cumulative FDI by economic activity (2014) (www.emyto.sk) A revision to the law on collective Poland The most popular legal forms of business Bank account: Opening a bank bargaining as of 2014 re-introduced entities in Slovakia: account by a business entity: the mandatory extension of higher- -self-employed individual / samostatne Slovenská Sporiteľňa - monthly fee level collective agreements to all zárobkovo činná osoba – SZČO (no Economic activity Share of FDI from €0-39.9; VÚB - monthly fee businesses in a given industrial sector Krakow (760,000) (228 km, 3h 15 min) requirement for registered capital) Manufacturing 33.42% the Czech Financial and insurance from €5.9; (even those that have not signed on Košice (256 km, 3h 20 min) -joint-stock company / akciová spoloč- activities 24.52% Žilina Tatra Banka monthly fee from €7 individually) and thus boosted the (81,000) nosť, a.s.: (minimum registered capital Wholesale and retail trade; Republic Poprad repair of motor vehicles and 9.07% power of unions. Observers have (53,000) Prešov €25,000) Martin (87,000) motorcycles noted several times that KOZ is not a (57,000) -limited liability company / spoločnosť s (more information  pages 52-57) Real estate activities 7.78% politically independent organisation Bratislava (201 km, 1h 55 min) ručením obmedzeným, s.r.o. (minimum Administrative and support service activities 7.53% Labour market & education for its repeated support for the ruling Žilina (256 km, 3h 20 min) registered capital €5,000) Trenčín Professional, scientific and Number of national holidays: 15 Smer party. Brno (400,000) (130 km, 1h 30 min) (56,000) Prievidza Košice As of January 1, 2017 it will be possible 3.97% (239,000) technical activities Paid holidays: 20 days (25 days for (48,000) to launch so-called simple joint-stock Uzhgorod (120,000) (98 km, 1h 40min) Other 13.71% employees aged 33+) Banská Bystrica companies with €1 basic capital (simple (more information  pages 66-69) (79,000) Foreign trade (2015) Notice period: one month at least Bratislava (401 km, 4 h 40 min) shareholder companies. These will Prague (1.2 mil.) (328 km, 3h 15 min) Export (2015): €67.68 billion Employment contracts:  page 70 Foreigners in Slovakia Zvolen be limited to small and medium-sized Žilina (201Trnava km, 1h 55 min) (43,000) Import (2015): €64.36 billion Minimum wage: €405 (€435 as of As Slovakia is a member of the (66,000) companies, especially startups. Banská BystricaNitra (211 km, 2h) January 1, 2017) European Union and the Schengen (78,000) Main export countries (2015): Average nominal monthly wage Area, citizens of countries in the (more information  pages 44-51) Košice (401 km, 4 h 40 min) Ukraine (2015 / 2014): €883 / €858 Schengen Area do not need a Slovak Country Share of Vienna (1.8 mil.) Miskolc (163,000) (90 km, 1h 30 min) Economy & business export Monthly wage costs (2014): €1,310 visa. Nationals of third countries (80 km, 57 min) Germany 22.4% BRATISLAVA Győr (129,00) (80 km, 55 min) environment Social and health insurance: generally need a visa to stay in Slovakia (420,000) Czech Republic 12.4% Inflation (9/2016): -0.5% Poland 8.3% Employers pay for their employees while visa applications can be filed Austria Budapest (1.8 mil.) (200 km, 2 h) GDP growth (2015): 3.6% Austria 6.0% 10% health insurance and 35.2% three months prior to the planned trip Hungary GDP per capita 2014 (nominal / Hungary 5.6% social insurance as a % of their brutto at the earliest, and granting the visa France 5.6% PPP): USD15,979 / USD29,758 wage. may take between 15 and 60 days. Administration Financial Ministry, Environment the OECD, Eurostat, Republic, Slovak the of Office Statistical Slovakia, of Bank National The Sources: 6 Investor’s Checklist: industrial parks & infrastructure Investor’s Checklist: Business service centres in Slovakia 7

(more information  pages 58-65) Industrial Park (Jaklovce) - 2.1 ha Industrial Park (Nová Dubnica) - 7.5 ha Industrial Park (Kechnec) - 332 ha Industrial Park (Nováky) - 9.7 ha Infrastructure & real estate Industrial Park (Kojšov) - 0.9 ha Industrial Park (Partizánske) - 26 ha Industrial parks in Slovakia Industrial Park (Krompachy) - 2.1 ha Industrial Park (Považská Bystrica) - 10 ha (industrial park’s name - location - area in hectares) Industrial Park (Michalovce) - 14.2 ha Industrial Park (Rakoľuby) - 14 ha Industrial Park (Moldava nad Bodvou) - 65 ha Industrial Park Javorinská (Myjava) - 16 ha Banská Bystrica Region Industrial Park (Rožňava) - 15.9 ha Industrial Park West (Prievidza) - 48 ha Industrial Park (Hliník nad Hronom) - 25 ha Industrial Park (Sobrance - Bunkovce) -104 ha Industrial Zone (Trenčín) - 115 ha Industrial Park (Hnúšťa) - 44 ha Industrial Park (Švedlár) - 2.8 ha Žilina Industrial Park (Kriváň) - 10.8 ha Industrial Park (Trebišov) - 10 ha Trnava Region Považská Industrial Park (Malý Krtíš) - 22 ha Industrial Park (Veľká Ida) - 29.4 ha Industrial Park (Galanta) - 12.5 ha Bystrica Industrial Park (Nová Baňa) - 22 ha Industrial Park (Veľké Kapušany) - 20.9 ha Industrial Park (Kostolné Kračany) - 34 ha Industrial Park (Tomášovce) - 32 ha Industrial Park II. (Michalovce) - 7.6 ha Industrial Park (Sereď) – 261 ha Industrial Park (Tornaľa) - 19.8 ha Industrial Zone (Kráľovský Chlmec) - 37 ha Industrial Park (Voderady) - 80 ha Industrial Park Areál PPS (Detva) - 29 ha Industrial Zone (Podskala - Spišská Nová Ves) - 5.6 ha Industrial Park South (Sládkovičovo) - 40 ha Senica Nové Mesto nad Váhom Industrial Park Gemer (Rimavská Sobota) - 7.1 ha Industrial Park West (Sládkovičovo) - 50 ha Košice Industrial Park Jelšoviny (Poltár) - 23.5 ha Prešov Region Logistic Park (Trnava) - 50 ha Industrial Park (Medzilaborce) - 4.75 ha Industrial Park Juh (Krupina) - 12 ha ProLogis Park (Galanta Gáň) - 18.5 ha Piešťany Industrial Park Juh (Lučenec) - 70.8 ha Industrial Park Ferovo (Vranov nad Topľou) - 16.9 ha Technological Park (Trnava) - 0.85 ha Industrial Park Juh II. (Lučenec) - 5.5 ha Industrial Park Matejovce (Poprad) - 14 ha Industrial Park Vihorlat (Snina) - 46 ha Trnava Industrial Park Majer - Šalková (B. Bystrica) - 35.7 ha Žilina Region Nitra Industrial Park Pod Bachtárom (Vígľaš) - 14 ha Industrial Park Za traťou (Lipany) - 8.5 ha Business Park (Krásno nad Kysucou) - 12.6 ha Industrial Park Pod Hrbom (Žarnovica) - 53 ha Industrial Zone (Humenné) - 64 ha CTP Industrial Park (Dolný Hričov) - 40 ha Nové Zámky Industrial Park Pod Lipou (Žarnovica) - 18 ha Industrial Zone (Kežmarok) - 27 ha Industiral Park KIA (Teplička nad Váhom) - 424 ha Industrial Park Rohozná (Brezno) - 63 ha Industrial Zone Záborské (Prešov) - 26 ha Industrial Park (Bytča) - 8.7 ha Industrial Park Sever (Rimavská Sobota) - 13 ha Nitra Region Industrial Park (Čadca) - 9 ha Industrial Park Trstená (Detva) - 12 ha Industrial Park (Čab) - 20 ha Industrial Park (Gbeľany) - 20 ha Industrial Park ZSNP (Žiar nad Hronom) - 335 ha Industrial Park (Hurbanovo) - 7.1 ha Industrial Park (Horný Hričov) - 10.8 ha Industrial Park (Nitra) - 210 ha Industrial Park (Košťany nad Turcom) - 10.1 ha Bratislava Region Industrial Park (Palárikovo) - 44 ha Industrial Park (Martin - Sučany) - 255 ha DNV Logistics Park (Bratislava) - 18 ha Industrial Park (Štúrovo) – 170 ha Industrial Park (Nededza) - 2 ha Industrial Park Eurovalley (Malacky) - 207 ha Industrial Park (Vráble) - 23 ha Industrial Park (Oravská Jasenica) - 10 ha Industrial/Logistic Park PointPark (Lozorno) - 40 ha Industrial Park Géňa (Levice) - 65 ha Industrial Park (Strečno) - 9 ha Logistic Park Senec (Senec) - 56 ha Industrial Zone (Diakovce) - 7.5 ha Industrial Park (Varín) - 16.6 ha Industrial Park CTPark (Martin) - 30 ha Košice Region Trenčín Region Industrial Park MARO (Sučany) - 5.9 ha Industrial Park (Cestice) - 77.8 ha Industrial Park (Dubnica nad Váhom) - 21 ha Industrial Park Punch (Námestovo) - 20.5 ha State investment inCentives for BSCs in Slovakia (2002-2016) Industrial Park (Gelnica) - 0.32 ha Industrial Park (Chocholná - Velčice) - 38 ha M1 Logistic & Industrial Park (Nižná) - 4.1 ha Company Year New employees State incentives Dell 2004 274 1,955,121 € Slovak infrastructure (highways, main railways, airports) Dell 2006 851 6,546,650 € T-Systems Slovakia 2006 512 4,905,995 € R5 T-Systems Slovakia 2008 900 11,976,366 € IBM Slovensko 2013 150 1,575,000 €

Žilina D3 T-Systems Slovakia 2013 350 5,079,000 € R6 Poprad R4 Schaeffler Slovensko 2014 53 997,535 € D1 Holcim Business Services 2014 61 719,800 € Prešov Holcim Business Services 2015 80 652,000 € Trenčín R3 Osram 2015 205 1,230,000 €

Banská Bystrica Košice R2 Business services provided by the BSCs located in Slovakia Sliač Sme Source: Piešťany Largest BSCs in Slovakia* Other 10% R8 R1 R2 BSC Locations Procurement 42% Trnava Accenture Bratislava D2 R3 Sales & Fulfillment 47% Nitra AT&T Bratislava, Košice Human Resources 52% planned highways DELL Bratislava D4 highways under construction Hewlett-Packard Bratislava Customer Services 63% BRATISLAVA highways Henkel Bratislava R7 highways (half profile) IT Services 68% IBM Bratislava, Košice main railways Financial Services & Accounting 89% international airport Johnson Controls Bratislava T-Systems Košice 0% 10%10 20%0% 30%30%4 40%0% 50%50%6 60%0% 70%70%8 80%0% 90% 100%

* more than 1,000 full-time employees Source: BSCF 2014 Survey, AmCham 8 Information on regions and structure of regional economies Information on regions and structure of regional economies 9

Share of economic activities in regional economies (2014) Source: Statistics Office of the Slovak Republic Žilina Region The largest companies in the Žilina Region Prešov Region economic activities / regions Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Region Region Region Region Region Region Region Region Population as of/on 31.12.2015 690,434 Donghee Slovakia, (Strečno) - Engineering Population as of/on 31.12.2015 820,697 Agriculture, forestry and fishing 1.6% 4.6% 4.0% 8.9% 2.5% 9.8% 5.4% 4.2% Size 6,811 km2 Ferona Slovakia (Žilina) - Trade Size 8,972 km2 Hyundai Steel Slovakia (Gbeľany) - Metallurgy & metal Industry in total 16.5% 36.0% 31.4% 33.2% 26.8% 20.5% 22.1% 27.7% Share of Slovak GDP creation 2014 11.04% processing Share of Slovak GDP creation 2014 9.07% Construction 5.0% 6.7% 8.0% 8.2% 13.5% 9.3% 15.0% 7.7% Distance between Bratislava and Žilina (by car) 201 km (111 min) Schaeffler Slovensko, (Kysucké Nové Mesto) - Engineering Distance between Bratislava and Prešov (by car) 410 km (4.5 h ) Trade,transport, accom., food serv. 25.8% 17.4% 21.8% 21.9% 18.6% 22.1% 22.0% 22.1% Unemployment rate 2015 10.3% KIA Motors Slovakia (Teplička nad Váhom) - Car manu- Information and communication 5.2% 5.2% 2.7% 2.6% 4.3% 3.8% 3.1% 6.2% facturing Unemployment rate 2015 16.8% Average monthly wage in 2015 (self-employed not included) €918 Metsä Tissue (Žilina) - Paper & wood processing industry Average monthly wage in 2015 (self- Financial and insurance activities 8.3% 2.6% 2.9% 2.2% 3.1% 2.9% 2.3% 2.2% Average nominal monthly wage 2015 (wages of self-employed included) €786 Mobis Slovakia (Gbeľany) - Engineering -employed not included) €799 Real estate activities 9.4% 7.0% 3.2% 4.3% 6.5% 5.3% 6.3% 6.8% Average nominal monthly wage 2014 €750 Mondi SCP (Ružomberok) - Paper & wood processing Average nominal monthly wage 2015 €683 Professional, scientific and technical activities; Monthly wage costs per employee 2014 €1,182 industry (wages of self-employed included) 9.6% 4.4% 4.8% 6.7% 8.4% 7.6% 6.7% 7.1% Panasonic Electronic Devices (Trstená) - Electrotechnical administ. and support serv. Economically active population by education in 2Q / 2016 Average nominal monthly wage 2014 €657 Public admin., education, health 12.5% 14.4% 18.4% 10.1% 12.6% 15.8% 14.2% 13.2% industry a) elementary and without education 5.1% Sejong Slovakia (Lietavská Lúčka) - Automotive industry Monthly wage costs Other 6.1% 1.8% 2.7% 1.8% 3.6% 2.9% 3.1% 2.8% per employee 2014 €1,018 b) secondary without A level 34% Stredoslovenská Energetika (Žilina) - Electricity distributor Cumulative share of all sectors, Economically active population 11.8% 18.5% 20.4% 11.0% 13.6% 14.9% 13.7% 9.2% c) secondary with A level Sungwoo Hitech Slovakia (Žilina) - Automotive the individual share of which is < 5.5 % 42.7% Váhostav - SK (Žilina) - Construction by education in 2Q / 2016 d) university 18.2% Visteon Electronics Slovakia (Námestovo) - Electrotechnical a) elementary and without education 7.2% trnava Region The largest companies in the Trnava Region b) secondary without A level 26% Population as of/on 31.12.2015 559,697 Agropodnik (Trnava) - Chemical industry c) secondary with A level 43.9% Size 4,147 km2 ArcelorMittal Gonvarri SSC Slovakia (Senica) - Metallurgy & metal process. d) university 22.8% Share of Slovak GDP creation 2014 11.43% Bekaert Hlohovec (Hlohovec) - Metallurgy & metal processing The largest companies in the Prešov Region Datalogic Slovakia (Trnava - Zavar) - Electrotechnical industry Bukocel (Hencovce) - Paper & wood processing industry Distance between Bratislava and Trnava (by car) 56 km (37 min) Enagro (Leopoldov) - Trade, biofuel Chemosvit (Svit) - Chemical industry Unemployment rate 2015 11.0% Enviral (Leopoldov) - Chemical industry; Enargo (Leopoldov) - Trade COOP Laterod (Lada) - Trade Average monthly wage in 2015 (self-employed €930 I.D.C. Holding (Sereď) - Food industry GGP Slovakia (Poprad) - Engineering not included) Johns Manville Slovakia (Trnava) – Glass industry Lear Corporation Seating Slovakia (Prešov) - Automotive Average nominal monthly wage 2015 (estimation Metrans /Danubia/ (Dunajská Streda) - Transport Merkury Market Slovakia (Prešov) - Furniture supplier of wages of self-employed included) €799 PSA Groupe Slovakia (Trnava) - Car manufacturing Milk-Agro (Prešov) - Food industry Average nominal monthly wage 2014 €772 Protherm Production (Skalica) - Engineering Pivovary Topvar (Veľký Šariš) - Food industry Samsung Electronics Slovakia (Galanta) - Electrotechnical industry 13.6% Tatravagónka (Poprad) - Engineering Monthly wage costs per employee 2014 €1,195 13.7% Schaeffler Skalica (Skalica) - Engineering Whirlpool Slovakia (Poprad) - Engineering Economically active population by education in 2Q / 2016 Tate & Lyle Slovakia s.r.o. (Boleráz) - Food industry 26.8% a) elementary and without education 3.6% 12.6% 22.1% Topaz LPG (Piešťany) - Electrotechnical industry and trade Žilina košice Region b) secondary without A level 31.5% 14.2% Vaillant Industrial Slovakia (Skalica) – Engineering Population as of/on 31.12.2015 796,650 c) secondary with A level 48.3% VUJE (Trnava) - Construction; ZF Slovakia (Trnava) - Engineering 8.4% 13.5% 15% d) university 16.6% ŽOS Trnava (Trnava) - Engineering 18.6% 6.7% Size 6,751 km2 6.5% Share of Slovak GDP creation 2014 11.5% 6.3% 22% Distance between Bratislava and Bratislava Region Košice (by car) 401 (4.5 h) Population as of/on 31.12.2015 633,288 Unemployment rate 2014 13.0% Size 2,054 km2 Prešov Average monthly wage in 2015 (self- €945 Share of Slovak GDP creation 2014 27.89% 9.2% -employed not included) 20.4% Unemployment rate 2015 5.7% Trenčín Average nominal monthly wage 2015 13.2% Average monthly wage in 2015 (self- (wages of self-employed included) €803 €1,319 31.4% 27.7% -employed not included) Average nominal monthly wage 2014 €775 Average nominal monthly wage 2015 €1,122 7.1% Monthly wage costs (wages of self-employed included) 18.4% 7.7% per employee 2014 €1,254 8% 6.8% 22.1% Average nominal €1,107 Banská Economically active population monthly wage 2014 6.2% Košice 21.8% Bystrica by education in 2Q / 2016 Monthly wage costs €1,712 a) elementary and without education 7.1% per employee 2014 b) secondary without A level 28.6% Economically active population 11.8% 14.9% c) secondary with A level 46.1% by education in 2Q / 2016 6.1% 16.5% 9.8% d) university 18.2% a) elementary and without education 3.3% The largest companies in the Košice Region b) secondary without A level 18.7% 12.5% 15.8% 20.5% BSH Drives and Pumps (Michalovce) - Electrotechnical industry c) secondary with A level 40.1% 25.8% Embraco Slovakia (Spišská Nová Ves) - Engineering d) university 37.9% 9.3% Eurovia SK (Košice) - construction 9.6% 22.1% The largest companies in the Bratislava Region Trnava 7.6% Getrag Ford Transmissions Slovakia (Kechnec) - Engineering

Allianz - Slovenská poisťovňa (Bratislava) - insurance 9.4% 8.3% Inžinierske stavby (Košice) - Construction AT&T (Bratislava) - IT Nitra Labaš (Košice) - Retail chain Billa (Bratislava) - Retail chain BRATISLAVA Magneti Marelli Slovakia (Kechnec) - Electrotechnical industry Eset (Bratislava) - IT Pikaro (Košice) - Trade in metallurgy industry 18.5% SCA Hygiene Products (Košice) - Paper & wood processing industry Eustream (Bratislava) - Transport of natural gas 11% n Agriculture, forestry and fishing Faurecia Slovakia (Bratislava) - Automotive 10 largest companies in Slovakia T-Systems Slovakia (Košice) - IT 8.9% n Industry Grafobal Group (Bratislava) - Printing industry & media market 36% 10.1% (based on sales revenue in 2015, logos on the map) U. S. Steel Košice (Košice) - Metallurgy & metal processing IBM Slovensko (Bratislava) - IT n Construction U-Shin Slovensko (Košice) - Automotive IKEA Components (Malacky) - Trade / Services 14.4% n Trade, transport, accom., food serv. 1. Volkswagen Slovakia (Bratislava) - Car manufacturing Východoslovenská Energetika (Košice) - Electricity distributor 6.7% 33.2% J&T Group (Bratislava) - Investment group n Information and communication 2. KIA Motors Slovakia (Teplička nad Váhom/Žilina) - Car Yazaki Wiring Technologies (Michalovce) - Electrotechnical industry Johnson Controls International (Bratislava) – Engineering 6.7% manufacturing 7% n Financial and insurance activities Kaufland Slovenská republika (Bratislava) - Retail chain 8.2% 3. Slovnaft (Bratislava) - Oil refinery 21.9% Banská Bystrica Region Lidl Slovenská republika (Bratislava) - Retail chain 17.4% Real estate activities 4. Samsung Electronics Slovakia (Galanta) - Electrotechnical Population as of/on 31.12.2015 653,024 Metro Cash and Carry (Ivanka pri Dunaji) - Trade n Professional, scientific and technical activities; administrative industry 2 Národná diaľničná spoločnosť (Bratislava) - Operation of highways Size 9,454 km and support service activities 5. PSA Groupe Slovakia (Trnava) - Car manufacturing OMV Slovensko (Bratislava) - Gas stations 6. Slovenské Elektrárne (Bratislava) - Electricity producer Share of Slovak GDP creation 2014 8.65% Orange Slovensko (Bratislava) - Telecommunications n Public admin., education, health 7. U. S. Steel Košice (Košice) - Metallurgy & metal processing Distance between Bratislava and 211 km Penta Investments (Bratislava) - Investment group n Other 8. Slovenský Plynárenský Priemysel (Bratislava) - Gas supply Banská Bystrica (by car) (118 min) Phoenix Zdravotnícke zásobovanie (Bratislava) - Trade 9. Continental Matador Rubber & Continental Matador Truck Unemployment rate 2015 15.3% of Lists 2016, TrendSource: Book Top 200, SAS Automotive (Bratislava) - Automotive n Cummulative share of all sectors, the individual share of Tires (Púchov) - Tyres Average monthly wage in 2015 (self- €861 Siemens (Bratislava) - Trade & IT which on the regional GDP in the respective region did not 10. Tesco Stores SR (Bratislava) - Retail chain -employed not included) Slovak Telekom (Bratislava) - Telecommunications exceed 5.5 % Average nominal monthly wage 2015 Slovenská Elektrizačná Prenosová Sústava (Bratislava) - Electricity (wages of self-employed included) €751 transmission trenčín Region The largest companies in the Trenčín Region Slovenská Sporiteľňa (Bratislava) - Banking Population as of/on 31.12.2015 589,935 C & A Mode (Kočovce) - Clothing retail chain Average nominal monthly wage 2014 €730 Slovenské Elektrárne (Bratislava) - Electricity producer Size 4,501 km2 Continental Matador Rubber, Continental Matador Truck Tires (Púchov) - Tyres Monthly wage costs per employee 2014 €1,111 Slovenský Plynárenský Priemysel (Bratislava) - Gas supply Share of Slovak GDP creation 2014 9.5% Emerson (Nové Mesto nad Váhom) - Electrotechnical industry nitra Region The largest companies in the Nitra Region Economically active population Fortischem (Nováky) - Chemical industry Slovnaft (Bratislava) - Oil refinery Distance between Bratislava and Trenčín (by car) 130 km (75 min) Population as of/on 31.12.2015 682,527 ACHP Levice (Levice) - Chemical industry by education in 2Q / 2016 Strabag Pozemné a inžinierske staviteľstvo - Construction Hanon Systems Slovakia (Ilava) - Electrotechnical industry Size 6,344 km2 de Miclén (Levice) - Chemical industry Unemployment rate 2015 7.2% Seoyon E – HWA automotive Slovakia, (Dubnica nad Váhom) - Engineering a) elementary and without education 8.2% Tatra Banka (Bratislava) - Banking Share of Slovak GDP creation 2014 10.92% Duslo (Šaľa) - Chemical industry Average monthly wage in 2015 Hella Slovakia Front-Lighting (Kočovce) - Automotive Foxconn Slovakia (Nitra) - Electrotechnical industry b) secondary without A level 26.6% Tesco Stores SR (Bratislava) - Retail chain €902 Distance between Bratislava and Nitra (by car) 94 km (56 min) c) secondary with A level 44.5% Tipos árodná lotériová spoločnosť (Bratislava) - Lotteries (self-employed not included) Hella Slovakia Signal-Lighting (Bánovce nad Bebravou) - Automotive Gamex Trading (Komárno) - Trade Hornonitrianske Bane Prievidza (Prievidza) - Mining industry Unemployment rate 2015 10.8% d) university 20.7% Statistical Office of the Slovak Republic Unipetrol Slovakia (Bratislava) - Trade Average nominal monthly wage 2015 €812 Heineken Slovensko (Nitra) - Beverages Volkswagen Slovakia (Bratislava) - Car manufacturing (estimation of wages of self-employed included) Iljin Slovakia (Pravenec) - Engineering; Leoni Slovakia (Trenčín) - Automotive Average monthly wage in 2015 (self-employed not included) €855 Matador Automotive Vráble (Vráble) - Engineering The largest companies in the Banská Bystrica Region VÚB (Bratislava) - Banking Average nominal monthly wage 2014 €779 Leoni Slovakia (Trenčín) - Automotive Average nominal monthly wage 2015 (wages of self-employed incl.) €736 Med – Art (Nitra) - Trade Adient (Lučenec) - Engineering Západoslovenská Energetika (Bratislava) - Electricity distributor Monthly wage costs per employee 2014 €1,169 Magna Slovteca (Nové Mesto nad Váhom) - Chemical industry Average nominal monthly wage 2014 €705 Osram Slovakia (Nové Zámky) - Electrotechnical industry CBA Slovakia (Lučenec) - Retail chain Železnice Slovenskej Republiky (Bratislava) - Rail transportation Matador holding (Púchov) - Engineering Rieker Obuv (Komárno) - Shoemaking industry Continental Automotive Systems Slovakia – Engineering Economically active population Nestlé Slovensko (Prievidza) - Food industry Monthly wage costs per employee 2014 €1,100 Železničná spoločnosť Cargo Slovakia (Bratislava) - Rail by education in 2Q / 2016 Secop (Zlaté Moravce) - Engineering Ekoltech (Lučenec) - Production of furniture Považský cukor (Trenčianska Teplá) - Food industry Economically active population by education in 2Q / 2016 Slovenské Energetické Strojárne (Tlmače) - Engineering LESY Slovenskej Republiky (Banská Bystrica) - Forestry transportation a) elementary and without education 3.2% a) elementary and without education 4.9% Železničná spoločnosť Slovensko (Bratislava) - Rail transportation Raven, (Považská Bystrica) - Trade Šped-Trans Levice (Levice) - Transport Slovalco (Žiar nad Hronom) - Metallurgy & metal processing b) secondary without A level 31.6% TRW Automotive (Nové Mesto nad Váhom) - Automotive b) secondary without A level 29.1% Teldar (Komárno) - Trade Slovenská Pošta (Banská Bystrica) - Postal services (several companies from this list have their Slovak headquarters in c) secondary with A level 44.7% Unipharma (Prievidza) - Trade c) secondary with A level 44.2% ZKW Slovakia (Krušovce) - Automotive Železiarne Podbrezová (Podbrezová) - Metallurgy & metal Bratislava with branches and activities in all Slovak regions) d) university 20.5% Yura Corporation Slovakia (Lednické Rovne) - Engineering d) university 21.7% processing 10 Investor’s Checklist: contact details / industry in regions xxxxxxxxx 11

Support for investors tion about opportunities to draw EU Taxes and customs Tel: +421 (0)2 5729-2111 Slovak Investment and Trade Development funds for innovation in businesses Tax section of the Financial Administration of www.szrb.sk (only limited EN version) Agency / Slovenská agentúra pre rozvoj Tel: +421 (0)2 5824-8202 the Slovak Republic investícií a obchodu (SARIO) www.siea.sk (only limited EN version) - administering taxes Employees, visa - supporting the investment projects of Tel: +421 (0)2 4827-3154 and registration domestic and foreign investors, providing Information about www.financnasprava.sk Office of Border and Alien Police Want To Do Business With The State? consultancy and aid to investors, and existing businesses Customs section of the Financial Administra- Úrad hraničnej a cudzineckej polície assisting SMEs in their search for export Business Register of the Slovak Republic tion of the Slovak Republic - registering foreigners living in Slovakia, and trade opportunities abroad Obchodný register Slovenskej republiky - customs policy, customs tariffs, origin of issuing residence permits and work Get Ready For a New Register of Public Sector Partners Tel: +421 (0)2 5826-0100 (OR SR) goods, administering indirect taxes permits; Tel: +421 (0)961 050-701 www.sario.sk - a database of all businesses active in Slo- Tel: +421 (0)2 4827-3154 www.minv.sk/?uhcp (Slovak only) As part of the Government´s efforts to in- tors and tax advisors based lic sector partner, to withdraw Business and Innovation Centre www.financnasprava.sk vakia administered by the Justice Ministry Social Insurance Agency / Sociálna poisťovňa crease the transparency of public funds spend- in the Slovak Republic. from the contract. Accuracy Podnikateľské a inovačné centrum (BIC) www.orsr.sk - state-run social security provider, regis- - business and innovation consult- Trade Register of the Slovak Republic Control and audit bodies tration of employees for social insurance ing, a Register of Public Sector Partners is ex- The authorised person will of data entered in the Register ing, transnational technology transfer, Živnostenský register Slovenskej republiky National Labour Inspectorate funds; Tel: +421 (0)906 171-989 pected to be established by law on 1 February be required to identify the can be challenged by anyone financial consulting, regional develop- Národný inšpektorát práce www.socpoist.sk (only limited EN version) (ŽR SR) 2017. This Register will replace the current beneficial owner for the through a qualified suggestion, ment, support in the EU Framework - a database of all individuals working - state watchdog, enforcement of labour- Confederation of Trade Unions Programmes for research, technology under trade licences in Slovakia related legislation, work conditions and Konfederácia odborových zväzov (KOZ) Register of Beneficial Owners, which is lim- first entry into the Register, and such a person will also have development and innovation, project www.zrsr.sk occupational safety - association of labour unions, protecting ited to public procurement. The new legisla- and thereafter to verify their access to the file of the verifica- management and investment consulting Tel: +421 (0)55 797-9902 Slovak Chamber of Commerce and Industry the rights of workers tion will be of general application and a pub- identity in connection with tion procedure, which in such Tel: +421 (0)2 5441-7515; www.bic.sk Slovenská obchodná a priemyselná komora www.safework.gov.sk (only limited EN Tel: +421 (0)2 5023-9103 Investment Support Association (SOPK) version) www.kozsr.sk (only limited EN version) lic sector partner, according to this legislation, any change in the beneficial case will be conducted by the Združenie pre rozvoj investícií (ISA) - gathering industrial and commercial Slovak Environmental Agency can essentially be any natural or legal person owner, and also every year as registration body. - support for the presentation of invest- Slovenská agentúra životného businesses, assisting in finding a local Associations receiving funds, assets or other property rights of December 31 of the cal- The Act will include ex- ments and their benefits for the develop- business partner prostredia (SAŽP) National Union of Employers ment of Slovakia; www.isa-association.sk - environmental impact assessment from public resources, including EU funds. endar year. The obligation emptions for lower value Tel: +421 (0)2 5443-3291; web.sopk.sk Republiková únia zamestnávateľov (RÚZ) JUDr. Ján Azud, Tel: +421 (0)907 910-646 (only limited EN version) Tel: +421 (0)48 437-4111 - organisation of employers in Slovakia, Like the current Register, also the new one to verify identification will transactions; while public sec- Slovak Business Agency (SBA) www.sazp.sk/eia Partner Statistics Office / Štatistický úrad which is comprised of two-thirds of shall contain data primarily concerning the cover, inter alia, also the case tor partners may not include a - assisting small and medium businesses - statistical information about Slovakia, a Slovak Trade Inspection employers producing 70 percent of GDP in Slovakia, securing the building of database of all businesses and institutions Slovenská obchodná inšpekcia (SOI) and 80 percent of the Slovak export beneficial ownersof public sector partners. of contract awards, the content of which will person who should receive one-time funding infrastructure for business development registered in Slovakia; Tel: +421 (0)2 - authority for internal market surveillance Tel.: +421 (0)2 3301-4280 A beneficial owner can be any natural person, be performance covered by public funds, if not exceeding the amount of € 100,000 or in (incubators); Tel: +421 (0)2 5024-4500 5023-6222; www.statistics.sk Tel.: +421 (0)850 111-937 www.ruzsr.sk (only limited EN version) who actually controls a person doing busi- there was no identification of beneficial own- the aggregate not exceeding the amount of € www.sbagency.sk www.soi.sk (only limited EN version) Federation of Employers’ Associations Slovak Tourist Board / Slovenská agentúra Ministries Asociácia zamestnávateľských zväzov a ness with the state and any natural person, in ers in the last six months before the contract 250,000 per calendar year, in case of repetitive pre cestovný ruch (SACR) Economy Ministry Land registry združení (AZZZ) favour of which such entity carries on busi- was signed. performance. A public sector partner, for ex- - advisory and consultancy services Ministerstvo hospodárstva Katastrálny úrad / Land registry for travel entities, bodies of local state - organisation of employers in Slovakia, ness or trade. In simple terms, these shall be The registration body will be the District ample, shall not be a person, who will acquire - the departments of entrepreneurship - information about land ownership which promotes and protects common administration and local governments, and of export and foreign trade are part www.katasterportal.sk/kapor the natural persons, who actually own the Court in Žilina. The Register itself will be assets, property rights or other proprietary administering a database of home and business, commercial and employers’ of the ministry; Tel: +421 (0)2 4854-1111 interests of members companies doing business with the State. publicly available on the website of the Min- rights in a one-off transaction, the aggregate foreign travel entities www.economy.gov.sk (only limited EN Banks Tel: +421 (0)2 5070-0801; www.sacr.sk Tel.: +421 (0)2 4425-8295 The law will include an exhaustive list of per- istry of Justice of the Slovak Republic. Non- value of which does not exceed the amount version) Export-Import Bank www.azzz.sk (only limited EN version) Slovak Agency for International Develop- Justice Ministry / Ministerstvo spravodlivosti sons, who are deemed to be beneficial owners. compliance with the obligations under the of € 100,000. ment Cooperation / Slovenská agentúra of the Slovak Republic / EXIM Banka Business Alliance of Slovakia - the ministry’s website provides informa- - supporting exports by financing and Podnikateľská aliancia Slovenska (PAS) If this cannot be determined, new Act will result in severe Natural and legal persons registered in pre medzinárodnú rozvojovú spoluprácu tion on courts that secure the legal pro- (SAMRS) insuring export credits - professional association representing beneficial owners will be con- sanctions. If, for example, the current Register of beneficial owners will cess of establishing a business in Slovakia Tel: +421 (0)2 5939-8111 - administering the Slovak Aid pro- selected entrepreneurs and employers Tel: +421 (0)2 8889-1111 www.eximbanka.sk sidered members of senior a public sector partner indi- be automatically considered as public sector gramme, implementation of development Tel.: +421 (0)2 5823-3481; alianciapas.sk www.justice.gov.sk (Slovak only) National Bank of Slovakia management. Among them cated in his application for partners. These entities will be required to aid programmes; www.slovakaid.sk Slovak Agricultural and Food Chamber Foreign and European Affairs Ministry Národná Banka Slovenska (NBS) Slovenská poľnohospodárska a potravinárska will be a statutory body, a registration false data regard- provide verification of the beneficial owner Tel: +421 (0)2 6820-5011 Ministerstvo zahraničných vecí a európskych Slovak Innovation and Energy Agency - central bank, providing statistical infor- komora (SPPK) záležitostí mation about balance of payments and member of the statutory ing the beneficial owner, or according to the new Act by 31 July 2017. Slovenská inovačná a energetická agentúra - information on embassies, consular - association representing companies body, a holder of procuration fails to meet his obligation Failure to comply with this obligation will be (SIEA) currency rates; www.nbs.sk operating in agriculture, food industry, services, and business departments of Tel: +421 (0)2 5787-1111 and a manager directly re- to apply for registration of reason for removal from the Register. Persons, - free-of-charge energy consulting for Slovak embassies abroad biological, technical and related trade Slovak Guarantee and Development Bank services, as well as NGOs and others in households and businesses, monitoring Tel: +421 (0)2 5978-1111 Slovenská záručná a rozvojová banka (SZRB) porting to the statutory body. changes in the relevant data, who are currently parties to a contract, based innovation activities in Slovakia, informa- www.foreign.gov.sk agriculture; www.sppk.sk (only limited Besides the general ap- the court shall impose a fine on which they receive funds or assets from the - providing guarantees for loans EN version) Tel.: +421 (0)2 5021-7111 plication of the new Regis- in the amount of economic state budget, from the budget of a local self-

Source: Statistical Office of the Slovak Republic ter, an extremely important benefit. If this cannot be government or public institution, and which

change is the fact that the JUDr. Ivan Šafranko, determined, the fine will meet conditions for entry into the Register, Industry in Slovak regions (2015) 3.5% 4.17% Senior Consultant 9.7% 13% underlying document for en- range from € 10,000 up to € will be required to ensure registration by 31

7.6% 14.4% 7.1% try into the Register will no longer be only 1,000,000. For infringements of the law, the July 2017. If this requirement is not met, the 4.7% 13.7% 5.7% 5.9% 5.7% an affirmation of the beneficial owner, but a fines imposed on the statutory bodies of com- public sector entity, who is the other party to Žilina 8.5% 16.1% so-called verification document issued by an panies may be up to € 100,000 and on the the contract, will not be in delay, if for this 15.5% 56.6% authorised person. Its release will be preceded beneficial owners, up to € 10,000. The au- reason that party will not perform according 8.2% by an identification and verification process thorised person entered in the Register at the to the contract and at the same time will have 10.5% Prešov 31.9% Trenčín 17.9% of the beneficial owner. time of breach will be the guarantor for fines the right to withdraw. 8.8% 13.1% 13.8% 13% 5.6% 6.3% 4.7% 22.1% The authorised person will be an im- imposed on the statutory body. The decision 13.1% Banská 5.5% 16.1% portant element in the process of registra- on the fine for the above stated reasons will Bystrica Košice 16.4% 6% 27.3% 5.6% 7.1% 27.3% 21.3% 38.4% tion, as only such authorised person will be also be a decision to exclude, which in prac- 12.8% 13.6%

28.3% 5.2% 16% 7.2% 4.1% able to initiate the registration procedure. At tice means that the statutory body will not be 35.1% the same time, however, this person will be able to work as a member of a statutory body Trnava held accountable for the proper identification or a member of a supervisory body of a com- BRATISLAVA Nitra n Chemical & pharmaceutical n Motor vehicles 6.8%

43.8% 5.6% n Electricity, gas, steam supply n Paper & wood processing of beneficial owners. The authorised persons pany for a period of three years. This decision T +421 2 3233 3441 [email protected] 6.7% n Electrotechnical industry n Textile & leather processing 11% may include lawyers, notaries, banks in- also gives the right to the party to the con- F +421 2 3233 3443 www.rc-cms.sk 4.7% n Engineering (motor vehicles not incl.) n Cummulative share of industries, cluding branches of foreign banks, audi- tract, who provides funds or assets to the pub- 5% n Food industry the individual share of which of all 32% 18.7% n Manufacture of other non-metallic industrial production in the respective mineral products region did not exceed 4 % Inz_Vizitka.indd 1 05.10.16 12:38 9.4% n Metallurgy & metal processing

SP016105/001

Ruzicka1_PR_2016.indd 1 18. 11. 2016 11:55:34 12 Investor’s Checklist: timelines Investor’s Checklist: timelines 13

1) TIMELINE FOR BUILDING OF PRODUCTION HALL WITH SMALL IMPACT ON ENVIRONMENT* ; PRUDENT TIMING 2B) TIMELINE FOR ESTABLISHMENT OF JOINT STOCK COMPANY * (10,000 m2 hall in industrial park, 100 new employees, development of the facility with a general contractor) Working days Action Months Action 0 1 2 3 4 5 6 7 8 9 10 11 12 13 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 decision decision drafting of notarial deeds and other founding documents agreement on a future contract for the whole project (plot included) investment contribution payment and bank establishment of a company (more information in 2A & 2B tables) confirmation** registration with the Tax Office, a health insurance company and the registration of trade license social security provider Sociálna Poisťovňa registration with the Business Register “small” Environmental Impact Assessment (EIA) = assessment of a new plant’s environmental impact by professionals from different * without publicly traded shares and without public offer of shares * * bank confirmation will not be necessary after 1.1.2016 fields; timing includes preparation of all documentation, approval pro- Source: SOUKENÍK – ŠTRPKA, law firm (www.akss.sk) cess and issuance of the final permit by the Ministry of Environment development permit (permit which confirms possibility to use selected plot for planned construction of building; this permit also confirms that planned building meets all legal conditions and after finalisation 3) TIMELINE FOR MASS RECRUITMENT (100 NEW EMPLOYEES) will be usable), it is issued by stavebný úrad (the building office) located in the district where project will be realised Month Action 1 2 3 4 5 6 contract for puchasing the plot identification of needs (preparation of the plan) registration of the purchased plot in the land register (cadastre) at the katastrálny úrad (the cadastre office) located in the district where advertising, mass mail, sourcing project is realised 600 CVs 600 CVs 600 CVs 600 CVs 600 CVs reading CVs (3,000 CVs read) building permit (permit for construction of building); it includes all le- 300 calls 300 calls 300 calls 300 calls phone screening (1,200 phone calls) gal conditions, which have to be followed during construction process, in order to obtain the final building approval which allows the investor 150 interviews 150 interviews 150 interviews 150 interviews job interviews: recruitment agency & applicants to use the building for production (if during the construction process (600 interviews) the investor is making changes in its original project it is necessary to introduction of selected CVs to potential employer legalise all the changes before the final approval) 100 CVs 100 CVs 100 CVs 100 CVs (400 CVs introduced) investing (payments) 60 interviews 80 interviews 80 interviews 80 interviews job interviews: potential employer & applicants (300 interviews) construction 30 applicants 40 applicants 40 applicants 40 applicants selection of applicants for training (150 applicants selected) hiring and training people (more information in the table 3) 60 applicants 60 applicants training (120 applicants participating in a training) installation of equipment and machinery 100 employees 100 hired applicants final inspection and final approval (for final inspection it is necessary Source: Lugera & Maklér, recruitment agency (www.lugera.sk) to prepare all documentation which also includes the design of the construction, safety approvals, functionality of the building, etc) 4) PROJECT TIMELINES BASED ON DIFFERENT METHODS OF ACQUIRING INDUSTRIAL SPACE start of new production after 14 months Months Method * Integrated permit (IPPC) is issued by the Ministry of Environment for a bigger investment as well as an investment which may have a bigger impact on the environment especially from industries such as metallurgy, mining, chemistry, wood processing etc. It integrates several permits which are necessary during realisation of the project. The whole process might take six 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 months and this period includes preparation of all documentation, approval process and issuance of the final permit by the Ministry of Environment lease of vacant (existing) space in an Source: GFI a.s., property development and design consultant (www.gfi.sk) and ENTO, projecting and advisory company (www.entoke.sk) existing park location pre-lease of desired space in an existing park location 2A) TIMELINE FOR ESTABLISHMENT OF LIMITED LIABILITY COMPANY built to suit in a new location - chosen by Working days Action the investor

0 1 2 3 4 5 6 7 8 9 10 11 acquisition of an existing facility to be adopted for the investor’s future needs decision acquisition of serviced land and develo- signing of founding documents pment of the facility with an industrial developer investment contribution payment and bank confirmation* acquisition of serviced land and deve- permission from the tax office** lopment of the facility with an general contractor (the whole construction registration of the trade license process in this alternative takes 14 months, i.e. the same period of time as in the Registration with the Business Register table above (documentation and permit process included)) *bank confirmation will not be necessary after 1.1.2016 ** in case of establishment by domestic person (confirmation, that domestic person does not have delinquent tax obligations) n Transaction process (selection of a final location as well as final method of acquiring industrial space)n Construction or fit-out works (documentation and obtaining of all permits included) Source: SOUKENÍK – ŠTRPKA, law firm (www.akss.sk) Source: CBRE, real estate consultant (www.cbre.sk) 14 opportunities opportunities 15

tion of the multinational car manufacturers. On referendum. Experts see it as an advantage for the In respect to the growing sector of subcon- the other hand, the significant production of the carmaker to have a plant in an EU member state tractors Sinay highlights the advantageous posi- Car manufacturers setting new records SUV portion of the car-manufacturing portfolio after the Brexit. tion of Slovakia in the middle of central Europe. in Slovakia is based predominantly on the quality In Slovakia, more than 40,000 people have “This predestines the global suppliers here to Subcontractors are growing along with overall production in Slovakia and reliability of work, Vaňo said. already shown interest in working for JLR. How- manufacture products for several customers in While the high-end SUV models could be ever, it will not start wide-scale recruitment for the region, but also outside of it,” said Sinay. produced profitably anywhere in the world with jobs at the plant for another 12 to 18 months, JLR is already in discussions with a number Slovakia’s three automotive plants, cars Automotive industry by the numbers head of CEE research at Sberbank Europe, told almost any level of labour cost, “producing these said Lisa Palmer from JLR corporate affairs. of subcontractors about the potential of the new were pouring off production lines at The Slovak Spectator. high-end models in central Europe with a local The carmaker has not specified yet what cars Slovak plant. Share of annual GDP 13% record speed in 2015. But it may take The Nitra plant is part of a massive global lower cost base obviously makes their production it will manufacture in its Nitra plant. “These discussions are ongoing, but it is too Share of the automotive production of industrial Inmore research and development into electric cars production in Slovakia 44% expansion by JLR and it is its first manufactur- even more profitable,” said Vaňo. “As part of our commitment to introduce soon to share any details,” said Palmer. to continue powering future growth. ing facility in Europe outside of the United While cheap labour used to be one criterion more lightweight products, the new plant will But JLR’s investment has already brought Share of the automotive production in the 35% Over the last 25 years the automotive indus- industrial exports of Slovakia Kingdom. for carmakers coming to Slovakia, this has not manufacture a range of new aluminium JLR new investments to Slovakia as well as the exten- try has become a pillar of Slovakia’s economy as Number of people employed directly in automo- “The arrival of the carmaker JLR con- been true in many recent cases also because the vehicles,” Palmer told The Slovak Spectator. sion of existing ones. tive production >80,000 well as an engine of development. The three ma- firms the strategic place of Slovakia within the carmakers belong in their regions to the best Pavel Dvornák from PwC Slovensko esti- For example, Spanish producer Gestamp Total number of people employed in the automo- jor carmakers and their subcontractors account tive industry >200,000 developed industrial states of the EU but also the payers, according to Jesný. Nevertheless, this is mates that the quartet of carmakers in Slovakia plans to build a new €100 million stamping for up to 13 percent of gross domestic product whole world,” Sinay said. compensated by high labour productivity. should manufacture more than 1.3 million annu- plant near Nitra. The state supports the invest- Value of exports generated by the automotive €17 bn and in 2015 the country surpassed 1 million production JLR would not only create a significant “The fact that car preproduction in Slovakia ally by the end of the decade. ment with a €9 million stimulus in the form of a vehicles produced in a single year. The sector Number of cars produced annually in Slovakia >1,000,000 number of jobs but it also promises “application is very competitive is also proven by the fact that subsidy for the purchase of tangible fixed assets. looks set to grow even further in 2016, while Source: ZAP SR of the latest assembly technologies in the chain, parent carmakers assign new models for produc- JLR attractive for subcontractors Construction work should begin by the end of the outlook with prospects of putting a brand where a car is at its end,” Sinay pointed out. tion into their branches in Slovakia,” said Jesný. The new carmaker is already bringing several 2016, with production launch scheduled for new plant of the fourth carmaker in operation in resilience despite the global diesel emissions While the construction of the plant itself “If this did not pay off they would not do it.” subcontractors with it to Slovakia. mid-2018. 2018 is more than positive. scandal. would mean a boost to the economy estimated “Supplying firms for the automotive industry Existing suppliers are also expanding. “In the long term, there is additional space In response to diesel gate VW has an- by the National Bank of Slovakia as equal to Building a new plant usually offer global services, so they do not sup- Faurecia has been building a new plant for for growth that should be supported by the nounced a bigger focus on the production of some 0.4 percentage points of annual GDP In December 2015, JLR picked Slovakia ply only one brand,” said Sinay of ZAP. “This completing seats in Lozorno for more than €20 investment of Jaguar Land Rover,” Juraj Sinay, hybrid and electric cars. This could have a posi- through 2021, the fourth carmaker would also over the UK, the United States, Mexico and Po- indicates that the companies which will come to million, South-Korean Hanon Systems Slovakia, president of the Automotive Industry Association tive impact on Bratislava’s plant, which already elevate the already high technological level of land as the site for its new €1.4-billion plant. Slo- Slovakia with JLR, or based on its recommenda- producing air conditioners for the automotive (ZAP), told The Slovak Spectator. manufactures Volkswagen e-up! and the hybrid Slovakia’s automotive industry, Jesný noted. vakia is supporting the investment with state aid tion, already have customers here.” industry, launched the construction of a new The main challenges facing the automo- Volkswagen Touareg. “JLR is known as a producer of high-end of €130 million as well as with the preparation Thus global subcontractors established in production hall in Ilava in late 2015. Continen- tive sector in Slovakia as well as globally are the In the north of the country, Kia Motors cars, technologically very demanding and of premises for the plant and road construction. Slovakia may see a new customer coming to the tal Automotive Systems opened the new premises demand for cars and the question of fuels, ac- Slovakia in Teplička nad Váhom increased its car with high quality and thus also expensive,” he Its initial capacity should be 150,000 vehicles per table. of its R&D centre in Zvolen and Matador has cording to Martin Jesný, analyst with the Slovak production by 4 percent in 2015. In June 2015 it explained. year when it starts production in 2018. The com- “To reduce costs, it is possible that the pro- announced expansion of its automotive branch Automotive Institute. introduced a new cee’d model and in December When choosing the location for its new pany will also create roughly 2,800 direct jobs duction technologies focused on projects, which too. Germany’s Brose has completed the first part “For carmakers today it is a serious ques- also the long-expected fourth generation of the European manufacturing facility, JLR was not and thousands of indirect ones. The construction JLR plans for Slovakia, will be implemented of construction of its strategic plant in Prievidza tion what fuel alternative to classic fossil fuels, Kia Sportage. hunting for the cheapest possible cost, but more of the plant started in September 2016. in production plants in the region,” said Sinay. while the total investment should amount to meaning petrol and diesel, will be the strongest,” Trnava-based PSA Groupe Slovakia also importantly for an environment that would be JLR’s parent company, India’s Tata Mo- “Also smaller suppliers situated in the region may €50 million. Hyunnam SK plans to build a new said Jesný, seeing this as a predominant factor achieved a record in car production in 2015. conductive to high-quality production, Vaňo tors, goes on with its plans despite the Brexit obtain bigger orders.” plant for casting car components in the industrial for where to focus R&D and investments. “It Thanks to the growing demand for the restyled said. is highly probable that this would be connected Peugeot 208, its production increased by 18.7 “Slovakia’s success in attracting foreign inves- R5 with electricity.” percent. tors is hence attributable not to the argument of Carmakers and “The main theme of 2015 was the confirma- the low cost of labour, but most importantly to subcontractors D3 Record year of 2015 tion that the Trnava plant will manufacture a the attractive proportion between the qualifica- in Slovakia Žilina The three carmakers in Slovakia - Volkswa- new Citroën model,” the company states on its tion and cost of the labour force,” said Vaňo. R6 Poprad R4 gen Slovakia (VW SK), Kia Motors Slovakia and website. And while it is difficult to compare the D1 PSA Groupe Slovakia - manufactured 1,038,483 profitability of car production in Slovakia and Prešov cars in Slovakia in 2015, an increase of almost JLR is coming abroad without the information about the intra- Trenčín R3 70,000 units from 2014. Of these, VW manu- Still, record production numbers were company transfer pricing, Vaňo pointed out two Banská Bystrica factured 397,458 units, Kia 338,000 and PSA not the biggest story in the Slovak automotive distinct trends. Košice 303,025 vehicles. The carmakers manufactured industry in 2015. It was undoubtedly the an- “First, the multinational car manufacturers R2 190 cars per 1,000 Slovak citizens. nouncement of the British carmaker Jaguar Land in Europe, which were slow in deploying their Sliač For Volkswagen Slovakia, 2015 was the year Rover (JLR) investment in a brand new facility resources and investments in the central and Piešťany of the launch of production of the new genera- near Nitra. eastern Europe, seem to suffer the most in terms R8 R1 R2 tion of Audi Q7, spokewoman Lucia Kovarovič “The JLR investment thus plays a very im- of overall profitability,” said Vaňo. Trnava Makayová told The Slovak Spectator. The com- portant ‘flagging value’ for Slovakia, as it brings it Hence, it appears that in particular the pro- D2 R3 subcontractor pany also launched record investments and hit onto the radar of the many other future potential duction of the small and medium-sized models Nitra planned highways a new record in employment with some 10,800 investors not only from the UK but also from in countries such as Slovakia (as well as the Czech highways under construction highways workers. The production numbers, 3,000 units other parts of the world, including among others Republic, Hungary and Poland) plays an impor- D4 highways (half profile) higher than the year before, show Volkswagen’s investors from India or Japan,” Vladimír Vaňo, tant role for maintaining the profitable produc- BRATISLAVA R7 main railways international airport

Source: Automotive Industry Association of the Slovak Republic SP015093/001 16 opportunities opportunities 17

park in Krásno nad Kysucou with an investment Market watchers also note that the new Largest receivers of state investment “Acquiring this production means that our with western Slovakia and thus he can imagine Investment in R&D needed planned at almost €17 million. plant and the arriving or expanding supplier insentives in automotive sector factory has increased its status to a special facility, production that is technologically less demand- The example of AeroMobil shows that Slova- between years 2003-2016 Adient, a spin-off of the automotive seatings network would pose problems for the labour producing small vehicles for the mainstream B ing and utility vehicles or trucks would be a kia has smart designers and engineers. But what Total state in- and interiors businesses of Johnson Controls market. ZAP is aware that suppliers’ competi- Company vestment insentives segment,” PSA Groupe Slovakia General Direc- better fit. remains a problem is the lack of investments. and the biggest automotive technology centre tiveness will depend on whether the number of in EUR mil tor Remi Girardon told the TASR newswire on “Also the presence of a steelmaker in eastern Anton Ondrej, the head of FOR-CE, a in Slovakia, also sees the arrival of JLR as a new capable experts, from manual occupations to Kia Motors Slovakia 233.09 June 29, 2016. Slovakia, U.S. Steel Košice, may speak for such think-tank focused on improving the business opportunity for its facilities in Slovakia. management positions, will be sufficient, Sinay PCA Slovakia 166.02 In 2017 the new C3 model is expected to production, which is more demanding for environment in Bratislava, pointed out, that Slo- “You are an automotive power and Jaguar admitted. GETRAG FORD Transmissions Slovakia 57.50 account for more than half of overall produc- volumes of materials,” said Jesný, adding that vak scientists have already developed technolo- will further strengthen this,” said Frank Toenni- To cope with the labour shortage, which also Mobis Slovakia 47.30 tion, with the projected figures nearing 360,000 U.S. Steel Košice has technologies for supplying gies that are much cheaper than, for example, the ges, the head of the technology centre in Trenčín. extends beyond the automotive sector, several Magneti Marelli Slovakia 41.44 cars in 2018. By then, the facility is expected to carmakers. super-fast tube-based travelling system Hyper- In terms of R&D, Slovakia has not been the automotive companies have joined the dual Continental Matador Rubber 34.51 employ 4,200 people. Another factor which speaks for placing a loop, much discussed recently. country of one or two development centres as it education scheme connecting state schools with Honeywell Turbo 23.08 fifth carmaker in eastern Slovakia is its develop- “They are able to bring minimally a com- used to be for a quite long period of time, Jesný private firms in an attempt to train students with Johnson Controls Lučenec 22.20 Is there space for a fifth? ing IT sector. parable technological challenge,” said Ondrej stressed, adding that the number of technology skills best suited to obtain jobs. In the 2016- Continental Automotive Systems Slovakia 18.23 Slovakia is already home to manufactur- “Software is one of the main developing ar- during a discussion in June. But since Slovakia is and development centres of various sizes has 2017 school year, the scheme entered its second ing plants for three global carmakers, with eas in the automotive industry,” said Jesný. “This a small country, there is not enough funding. VOLKSWAGEN SLOVAKIA. 14.30 increased to double digits. Apart from Adient, year, and it still needs some bugs to be ironed construction of a fourth facility underway. is because more and more apparatuses in cars are “Also here in Slovakia we have such Source: Ministry of Economy Continental Automotive, Plastic Omnium near out and especially increase interest in technical Still, experts and market watchers say there is controlled by computers, while industrial pro- revolutionary solutions that are cheaper and Bratislava and the Slovak arm of the German positions. “Our plan to invest about €1.5 billion space for a fifth plant, especially in eastern or duction is becoming more and more intelligent commercially closer to realisation than Hyper- producer of bearings Schaeffler are among them. in Slovakia between 2012-2016 is still alive,” south-eastern Slovakia. On the other hand the and smart too. In eastern Slovakia there are many loop,” Ondrej said. Among these he listed the “The biggest among them really have very Positive figures for 2016 said Kovarovič Makayová, adding that they Economy Ministry points out the incomplete companies that are very active in this.” automated transportation system (ATS) connect- strong competencies and secure, so-to-say, In the coming years, the market is expected have constructed a new press shop for Porsche highway system and a weak local network of ing autonomous and electronic cars and based on complete services for carmakers in Slovakia,” said to grow further. The European Automobile while hundreds of robots and the latest subcontractors as the drawbacks of eastern Is a flying car the fifth one? shared economy, a patent by Branislav Sitár. Jesný. Manufacturers’ Association (ACEA) forecasts technologies are just being installed. Simulta- Slovakia. But behind all the discussions about whether growth for EU passenger car sales in the region neously they are building a new assembly hall While it would be perfect if such a plant Slovakia could get a fifth carmaker or not, Labour force, taxes and more New interactive database at 5 percent for 2016. Commercial vehicle sales for Porsche. manufactures, for example, electric cars, it is one is already actually growing here gradually. Existing carmakers are already complain- In the meantime the Economy Ministry, should also grow substantially. In terms of units, Kia, which will mark 10 years of produc- more probable that such a plant would manufac- Bratislava-based AeroMobil is developing a flying about a shortage of qualified workers and ZAP and the state Slovak Investment and Trade this would mean over 14 million passenger cars tion of cars in Slovakia in late December 2016, ture utility vehicles. ing car, has moved into its new premises and is are calling for changes in education to prepare Development Agency (SARIO) are working sold. expects to achieve results in 2016 comparable Automotive experts would like to see the working to turn its prototype into a commercial people better for the labour market. The short- on a complete and interactive database of sup- “However, we are still below the pre-crisis with 2015 with investments planned at €60 already wide mix of types of cars manufactured product. age will likely boost competition for existing pliers of the automotive industry in Slovakia level of 15.5 million units,” ACEA spokesman million. in Slovakia becomes even more varied. “We want to change the way people travel,” skilled labour, thus pushing wages higher. The from the viewpoint of networks, geographical Kasper Peters told The Slovak Spectator. For PSA, 2016 is also its 10th year in Slovakia “The production of utility vehicles, including Juraj Vaculík of AeroMobil company told the sector also keeps complaining about high taxes location and specialisation. The creation of the Carmakers and market watchers in Slovakia and the launch of production of the new Citroën trucks would fit into the total production struc- Hospodárske Noviny daily. and electricity prices, as well as still-incomplete database is part of SARIO’s national project, expect 2016 to be another strong year, but may C3, the fourth model to be manufactured in ture,” said Sinay. The company stresses that its engineers and highways in Slovakia and lack of connections to whose launch is planned for the second quarter not surpass 2015’s record production pace as Trnava, looks to be a boost. The new model, Jesný would like to see the mix of car types designers are looking for very specific solutions the Czech Republic and Poland. of 2017. some carmakers halted production to introduce which would bring the plant a total investment made in Slovakia extended to electric cars or because the flying car is not ‘only’ a car and not The production of more sophisticated cars “The creation of an interactive database of new models. of €80 million and will be manufactured only in hybrids, pointing out that Slovakia already has ‘only’ a plane. Currently the company is working will be conditioned on the implementation of subcontractors for the industry is an important Nevertheless, the first half of 2016, which is the Trnava plant, was introduced to the public in some tradition in this, as Volkswagen Slovakia on a prototype that would be suitable for serial the results of applied research and development, starting point for further activities concerning usually stronger in car production, has brought September at the Paris show while the first cars produces these types of cars. production in terms of legislation and certifica- especially at supply firms with Slovak ownership the development of the logistics network, the new records when the number of cars manufac- with the C3 logo should arrive to their clients in “But as such cars are not a mass segment for tion. Testing is planned for later in 2016. The portfolio, Sinay highlighted. localisation of production, and increasing the tured increased by 4.5 percent y/y. November 2016. now, the production of electric cars and hybrids aim is to offer a machine that will not be only “a “This is a challenge for all players active in competitiveness of the industry as a whole,” said The carmakers keep investing in their facili- PSA plans to manufacture 315,000 cars in would rather go via the already existing produc- toy for billionaires”; it should be affordable for industrial and applied research in Slovakia (i.e. Sinay. ties in Slovakia. 2016, which is an increase by 4 percent y/y. tion,” said Jesný. ordinary people, said Vaculík. They want to start universities, the Slovak Academy of Sciences He also points out that for now manufactur- taking orders and advance payments in 2017 and and private research institutions) if they want to ing in the eastern and southern areas is low-cost the first AeroMobil is planned to be delivered in participate in these processes more actively,” said Carmakers in Slovakia and less technologically developed compared 2018. Sinay. They are also likely to join international re- Jaguar Land Rover (Nitra) – under construc- 2006, Kia Motors Slovakia manufactured more than arrival in Slovakia in 2003 search networks within the automotive industry, Number of cars produced in Slovakia tion 2.4 million cars, including 338,000 in 2015 www.psa-slovakia.sk 1.038.483 he added. Only slightly more than 16 percent of Production: Annual capacity is projected at Models: Kia cee’d, Kia Sportage and Kia Venga 987.718 971.160 926.555 suppliers in Slovakia carry out their own research 150,000 vehicles Employees: more than 3,800 Volkswagen Slovakia (Bratislava) Employees: around 2,800 during the first phase Total investment: more than €1.7 billion since its Production: Since its 1992 launch VW Slovakia has and development, according to 2014 statistics, Total investment: €1.4 billion while a further arrival in Slovakia in 2004 manufactured more than 4.5 million cars, including with more than 1,450 employees working in this investment would raise capacity to the maximum www.kia.sk 397,458 in 2015 639.763 field, Sinay highlighted. For ZAP, the support for 571.071 575.776 561.933 300,000 vehicles per year Models: Volkswagen Touareg, Audi Q7, bodies of implementation of applied research and develop- 463.140 Construction of the plant started in September PSA Groupe Slovakia (Trnava) Porsche Cayenne, Volkswagen up!, Volkswagen ment for suppliers is one of the important targets 2016 and production should be launched in 2018 Production: Since the 2006 launch PSA Groupe e-up!, Škoda Citigo and SEAT Mii www.jaguarlandrover.com Slovakia has manufactured more than 2 millions Employees: about 10,800 295.380 in its strategy that runs until 2020. cars, including 303,025 in 2015 Total investment: €3.4 billion since its arrival in 218.349 “It is one of the basic conditions for the Kia Motors Slovakia (Teplička nad Váhom, Models: Citroën C3 Picasso and Peugeot 208 Slovakia in 1991 future competitiveness of not only the automo- near Žilina) Employees: about 3,500 www.vw.sk tive industry in Slovakia,” Sinay said. Production: Since the launch of serial production in Total investment: more than €1 billion since its 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 By Jana Liptáková, Spectator staff * estimation; Source: ZAP SR * estimation; Source: Source: car makers 18 opportunities opportunities 19

At what stage of development are investors most likely to invest in startups SBA organises an initiative called Startup 80% 75% 5% Sharks to improve initial conditions for startups

69% Startups open for business 70% through the state budget in 2016.

Biggest challenges: investments, human resources and expansion into new markets 60% Law now defines the term ‘startup’ lovak innovators are still mostly young well- From 2017, small entrepreneurs that operate 50% educated men in pre-seed or seed stages who in Slovakia will be able to hire a personal coach,

rely upon their own money or resources 40% 38% get direct or indirect state support with less Sfrom their families and surroundings. But the paperwork or find information about support foreign trends of venture capital and crowdfund- 30% schemes on one site. The government approved a

ing are beginning to improve their prospects. 19% new law on the promotion of small and medium 20%

The startup ecosystem in Slovakia is still 13% sized enterprises (SMEs) in mid-October 2016

experiencing a boom even though the number of 10% that defines startup, using specific EU terms, and 6% startups has not increased dramatically as com- requirements to get state support. pared to 2015. The quality of innovations, reputa- 0% SAPIE considers the law a good step towards Idea/ Beta/ Early Growing Expanding Maturity Any stage of tion of mature companies and the brands of the Sme Source: Concept Prototype revenue revenues to new markets development supporting SMEs which should help develop

companies have all improved overall, experts say. try to find new ideas and strategies show changes Venture capital financing is steady, according KPMG Startup Ecosystem Survey 2016 Source: business culture, strengthen the environment and “Finally, Slovakia and its startup ecosystem in the way multinational companies think also in to Štefunko. While some funds end their invest- support innovation and new ventures. On the have made it at least on to the European map,” our region,” Zámečník told The Slovak Spectator, ment period, the public Slovak Investment Hold- BlueYard Capital and is moving its headquarters interested in it, Zámečník said. other hand, it is important to have a transparent Ivan Štefunko, managing partner of the venture listing “Software as a Service” (SaaS) ideas as the ing announced appeals to the management of to New York. Michal Koor, CEO and co-founder Štefunko mentioned the success of growing selection process with experts from the ecosystem and seed capital company Neulogy Ventures, told fastest growing. The ecosystem is shaped mainly other funds through public-private partnerships. of Vectary, says that as an industrial designer he companies Sli.do and GA Drilling and fixed stars involved who understand the needs of startups in The Slovak Spectator. by the private sector which brings positives, but In contrast, financing from banks remains a wanted to make designing more effective, so he Eset, Sygic and PixelFederation as very influential their development stage, Dzurovčinová said. also missed opportunities. In 2015 nearby coun- problem. Banks are not accustomed to looking invested time into developing a parametric tool role models for innovators. This new entity is an excellent initiative for Innovators develop themselves tries like Austria and the Czech Republic created at a company’s potential, but only at its current which can easily change shapes while getting “It is proof that we can make top players in companies where shares are often the only ‘cur- The startup scene opened up six to eight years schemes to support existing institutions that be- losses or gains, he said. interactive feedback. this sector also from Slovakia,” Štefunko said. rency’ to pay employees, according to Zámečník. ago with the introduction of well-established gan as private initiatives, according to Zámečník. “They do not look at reasons why the com- “Later I realised this approach combined There are also companies like Prizeo, a plat- “While in the practical world we cannot international initiatives like the BarCamp confer- “In Slovakia, the public sector rather seems pany is in a loss – for example because it invested with a community would make it much easier form for influencers to raise money and awareness determine clear barriers in the startup defini- ence, the entrepreneur marathon Startup Week- to do parallel activities that compete with the in marketing or development,” Štefunko said. for anybody to start with 3D modeling,” Koor for their chosen causes with prize-based fan cam- tion, from the legal point of view it was necessary end, meetings with the community at the Startup private sector and thus to some extent distort the told Techcrunch.com. The transformative online paigns, that founder Andrej Pančík sold to tech to determine a definition which creates more Grind and the homegrown Startup Awards com- market,” Zámečník said. Young people 3D design tool empowers users to create and mogul Todd Wagner; KickResume which received favourable conditions for companies in search of petition. Thanks to such activities, startups have Business ambition and willingness to bear customise ready-to-print 3D models directly support from the Slovak American Foundation the right markets for their innovative products,” become a trend with an expanding community in From seeds to scaleups a greater risk favours young, educated people. in their browser. It is also a community-driven to develop its activities in the United States; and Zámečník said. Slovakia. In contrast with 2015, Marek Zámečník Meanwhile, the Slovak Alliance for In- Nearly 73 percent of those launching a startup platform that allows users to share and collaborate the flying car company AeroMobil which is set to from the new 0100 Campus co-working space in ternet Economy (SAPIE) pointed to greatest are under 35, just 9 percent are over 40 and 85 on designs, the company says. start sales in 2018, said Dzurovčinová. How to further improve? Bratislava now sees new investors, more ambitious startup challenges including investments, human percent have a university or college degree. This The government should liberalise immigration projects, the first larger investment rounds from resources and expansion into new markets. stems from the recently published third survey by Other startups State support weak rules for people from countries outside the EU, said foreign investors and more interest from corpora- Slovak companies are largely in the pre-seed and KPMG Slovensko, in which they asked startups, Other prominent startups include Staf- The Slovak government supports innova- Štefunko. In addition, the state should support ini- tions in innovation activities. seed stages, so they await growth and the shift corporations, the public sector, startup spaces and fino, Croptech and Exponea. Exponea provides tive entrepreneurs amounting to more than €18 tiatives that encourage startups as the private sector “Organising hackathons and promoting edu- to scaleups, according to SAPIE Director Petra investors about the startup ecosystem in Slovakia. advanced analytics for business-to-consumer web- million through 2018 within the Concept for can more efficiently handle resources. The public cational events through which larger companies Dzurovčinová. First phase companies have in addition been sites with significant clients from Germany, the Supporting Startups and Startup Ecosystem in the sector should rather act as a catalyser of the startup still relying excessively on bootstrapping without Czech Republic, the United States and Southeast Slovak Republic. However, Slovakia has begun to ecosystem, not as competition, Zámečník said. 71% 70% How have startups been funded an external investor. Personal savings constitute Asia. At present, a couple of foreign investors are lag behind other countries in the region since the “It is a numbers game – the more projects 71 percent and angel capital just 36 percent of concept was first introduced, Dzurovčinová said. arise or get support, the more successful compa- Which stage are startups currently in 60% business financing in Slovakia. Both are rates “As many as 14 EU countries now offer nies we can create,” Zámečník said.

similar to 2014, when the share of venture capital Expanding to new 5% Idea/Concept startup visas for businesses from third countries In Lithuania, the cabinet has sent a new

jumped up by 10 percentage points to 25 percent, markets 9% that Slovakia ratified but never implemented,” measure to parliament defining startup tax at 50% according to the survey. Dzurovčinová said. Also the EU’s system of Blue flat monthly amount of €252 per employee. The Card for employment of high-qualified workforce law also let startup employees enroll in a highly 40% 36% 3D modelling Growing revenues 18% from third countries is optional and its practice qualified workforce scheme where the govern- One new Slovak startup is a company called in Slovakia would bring gains for the overheated ment covers all social tax, and waives employee 30% 25% Vectary. It now belongs to the group of world- labour market, she said. Business as well as access and corporate income tax for startups, according 21% wide 3D designing tools like Thingverse 3D, Beta/Prototype 42% to specific forms of financing are supported by to Dzurovčinová. 18% 20% professionals’ Autodesk 123d, kids’ Tinkercad the Slovak Business Agency (SBA) as a common “The Slovak government has in contrast and Blender. In comparison with others, however, platform of the public and private sectors com- announced an increase of health and social levies 10% it brings a new platform that combines a 3D posed of representatives of the Economy Ministry, which will negatively affect high-income groups 5% 4% modelling tool with a community. the Entrepreneurs Association of Slovakia and the of people [who are] key for IT companies,” 0% The company, part of the Neulogy Ventures Early revenue 26% Slovenský Živnostenský Zväz, an association rep- Dzurovčinová said. Personal Friends Angel Venture Crowdfunding Bank Other savings and family investor capital portfolio, raised a seed round of $2.5 million with resenting self-employed trade and craft workers. By Peter Adamovský, Spectator staff Source: KPMG Startup Ecosystem Survey 2016 Source: KPMG Startup Ecosystem Survey 2016 Source:

Maturity; 0% 20 opportunities opportunities 21

in 2016, Eset, which had been on this list for urgent. The sector lacks people even though the Prospects for the future 13 consecutive years, was replaced by software average wage of an ICT worker is high. ITAS sees two possible developments for Lack of experts challenges ICT sector company Aliter Technologies. “Almost immediately only a part of ITAS the ICT labour market. In the pessimistic one importance of information employees and a large number of self-employed Number of ICT companies On the other hand, for the second con- members would be able to employ more than there would be no improvement on the part of and communication technolo- on one side and some dominant companies on operating in Slovakia secutive year Slovakia wasn’t represented in the 10,000 people,” said Lelovský. the educational institutions despite the growing gies will only increase, but this the other. Number of employees Number of ICT companies or category of Rising Stars. In this respect Lelovský sees large space for demand on the part of employers for a qualified Theremains a challenge for Slovakia and its economic The average wage of an ICT worker was ICT self-employed Analysis of the international rankings improvement while Slovakia should take neigh- workforce. This may lead to the departure of ICT reliance on industrial manufacturing. €1,968 per month in 2014, 93 percent higher self-employed 10,167 shows that Slovakia achieves the average or bouring countries, in which a foreign professional companies from Slovakia due to lacking labour Companies will digitalise their processes and than the average wage in the Slovak economy. 0 - 9 7,218 below-the-average values and the tendency is can get a work permit within a few days as an force, poorer performance by the ICT sector and will need significantly more internet computer High wages mean also high compulsory health 10 - 19 231 both for the values and the standing of Slovakia example. missing the train on smart industry. The optimis- technology (ICT) experts, Mário Lelovský, the and social insurance contributions as well as paid 20 - 49 113 to fall back or at best to stagnate, according to “In Slovakia this takes more than six tic scenario is that changes are made in education head of the IT Association of Slovakia (ITAS) income taxes. 50 - 249 91 the Importance of the ICT Sector for Slovakia months,” said Lelovský. and that employment in this sector grows. wrote in the intro to the Importance of the ICT In terms of corporate taxes, ICT companies 250 - 499 20 study for 2016. In one of the rankings that But what Lelovský sees as the biggest hin- “I do not want to be too pessimistic, but Sector for Slovakia study for 2016. paid €167 million in 2014 which accounted 500 - 999 2 assesses the overall development of the ICT drance in the development of the ICT sector is there is still a lot of work ahead of us,” said “Slovakia is traditionally a strong industrial for 8.6 percent of corporate taxes paid by all 1,000 and more 5 sector, Slovakia has fallen behind other six education. Not only are there no people to teach, Lelovský. “We need a change in society; we need economy, which these changes will affect the companies. Source: The ICT sector in Slovakia study by INESS Consult, countries in comparison with 2011. The same but there is also a lack of interest among the the state to realise that assembly halls are not here most,” he predicts. Moreover, the return of the state aid in ICT is based on data of the Slovak Statistics Office, April 2015 applies to its unfavourable 20th position from young generation, which “prefers lighter fields of forever and that educated people can move the In order to maintain the competitiveness 0.7 years whereas in the automotive industry it is among 28 EU countries in the ICT Develop- studies and an uncertain future contrary to well country in the proper direction.” of Slovakia’s economy the Slovak government 4.2 years. ITAS also points out that while the state According to the World Economic Forum, ment Index where Slovakia appeared in the 45th paid positions in the ICT sector, which are not Lelovský pointed out that all the changes in must support digitising the economy and take a is supporting the arrival of the fourth carmaker, Slovakia is transitioning from an efficiency-driven position and which resulted in a lower position only about programming”, according to Lelovský. education have one common feature, tech skills positive stance towards the ICT sector on all levels Jaguar Land Rover, which is building a brand new to innovation-driven stage of development, and in Digital Economy and Society Index 2015 Nevertheless, Lelovský sees an improvement will be necessary no matter the profession. starting with education via re-qualifications up to plant near Nitra with a subsidy of €130 million, thus should implement measures to support in- with a total score of 0.42. in terms of education as those responsible in the “And while in some sectors there will be more motivating companies to innovate, Lelovský said. this sum is four times greater than all the incen- novation and R&D. “In this regard, Slovakia is in the same group government have started to pay a greater attention robots, the number of people who will be able to Education remains a challenge, since there tives for the ICT sector ever provided by the state. “Addressing research and innovation, support with other countries with low performance that to this matter. mend and maintain them will have to increase is not just a lack of teachers but also low interest Experts agree that the ICT sector has an to SMEs, quality education and inclusive labour achieve results only slightly above the average,” “We plan in cooperation with Labour too,” he said. of young people in studying IT. ICT companies enormous importance for Slovakia’s economy. markets may foster convergence and com- reads the study. Ministry to launch a project of re-qualification In this respect, the ITAS study highlights that have also been calling for better conditions for “Slovak economic growth used to be driven petitiveness of the Slovak economy, helping to When comparing various indexes and crite- and together with the Education Ministry we are information technologies are not solely about the doing business in Slovakia. All told Slovakia is mainly by the thriving manufacturing sector, achieve sustainable growth in the long run,” said ria, the study identifies the public sector as the operating a project of IT Academy,” said Lelovský, electronisation of processes, or eGovernment, but estimated to lack more than 10,000 IT experts. especially its automotive part, but in recent years Muchová. weakest link. adding that in the latter they plan not only to also about improving efficiency across multiple the country has seen an increase in the impor- Muchová recalled that the European Com- “Slovakia lags behind in areas like enforce- educate future employees but also those who sectors. Especially important they seem to be ICT sector in Slovakia tance of the ICT sector,” Katarína Muchová, mission approved Slovakia’s Research and Innova- ment of the law and public procurement of would teach them. in the area of industrial production where it is The ICT sector accounts for 4.6 percent of economic analyst with the Slovenská Sporiteľňa tion operational programme for the 2014-2020 advanced technologies where it ranks among the already common to speak of a new technological GDP, compared to 13 percent of GDP generated bank, told The Slovak Spectator. period with allocations reaching up to €2.3 bil- least progressive not only in comparison with eGovernment matters revolution referred to as Industry 4.0. by the automotive industry. While the ICT share The gross value added contribution of the in- lion. The priorities relate to particular economic other western European countries but also in In 2015 Slovak President Andrej Kiska “Industry 4.0 represents a great opportunity may look small, it has been achieved by a labour formation and communication sector was almost areas (among them automotive and mechanical global rankings,” reads the study. criticised the electronisation of state and public for development of production with higher added force making up only 2.3 percent of the employ- 5 percent of the total in the first half of 2016, engineering industries, ICT, consumer electronics It identifies four problematic areas with a services in Slovakia for not progressing fast value for Slovakia’s economy,” reads the analysis. ment in Slovakia or just 62,000 people, according according to Muchová. and electrical equipment) as well as addressing the rather big influence of the state. These are ineffi- enough, despite the presence of ambitious “If the state does not create conditions for the to the study Importance of the ICT Sector for “Although it is unlikely at the moment that scientific and research capacities of the country. ciency of the public administration, lack of human projects. growth of the ICT sector, Slovak companies will Slovakia study for 2016 ITAS elaborated in coop- ICT will take over the dominant position of capital, weaknesses of the business environment ITAS perceives this criticism as justified but again only import new technologies, without the eration with INESS Consult. manufacturing, the country supports the sector Source of innovation and growth and availability of broadband internet connection. Lelovský hopes that better times are coming. benefits their development brings.” The ICT sector is specific with a large as it understands its increasing importance,” said Ivan Lužica, partner at Deloitte in Slovakia, In the meantime, as of November 2016 Based on the estimates of the Boston Con- number of small companies with one to three Muchová. sees the ICT sector as an engine propelling the Lack of IT experts state bodies and institutions have to primar- sulting Group - analysing implementation of new Number of ICT students at Slovak universities in 2014 economy. Out of all challenges the ICT sector faces, ily communicate electronically via electronic technologies in the German economy - these new “It is exactly this sector which is the source of the lack of IT experts is probably the most letterboxes. innovations are going to increase productivity of innovation and growth,” Lužica told The Slovak the manufacturing sector by 5-8 percent with a Value of ICT market per capita in 2014 (€) 967 Spectator. 800 possibility for carmakers to grow by more 10-20 The Deloitte Technology Fast 50 ranking in percent, the study reads. 700 Žilina Central Europe that Deloitte published in late “Foreign investors will understandably want Ružomberok 600 215 October 2016, proves this. It is prepared based on to implement these innovations also in Slovakia 500 1,578 their five-year revenue growth. where it is possible to count on similar values of 291 Five Slovak companies placed in the latest 400 growth,” the analysis reads. “This presents an im- Banská Bystrica Košice 300 Trnava annual ranking. Compared with 2015 Slovakia’s mense opportunity for the ICT sector as well as a 277 772 position remained more or less stable. But in 200 possibility to increase the manufacturing share of 2013 only two Slovak companies appeared in the 100 high added value in Slovakia.” Nitra ranking and in 2014 it was three. 0 But ITAS warns that this potential may well

4,656 ia ia ia ia ry ia d ia ia a a a Slovakia again had a representative in ‘The lic n a tv n ri ni ni be hindered or even reversed under the current en ak at g la an ss a o ub to o La u lg d ov p ov un h ma Es Cr Po it Ru ce Big Five’, the ranking of companies that are too Sl Re Sl H L Bu Ro ICT conditions in Slovakia. Komárno h Ma ec bratislava 182 big to compete with the smaller companies. But Cz By Jana Liptáková, Spectator staff Source: Centrum vedecko-technických informácií Source: ICT Market Report 2014/2015, EITO One law firm decided not to provide information and is not listed: Barger Prekop s.r.o.

22 opportunities opportunities 23

Investment opportunities available to be turned into investment projects Patents BatSuite (www.batsuite.com) LittleLane (www.littlelane.eu) Slovak agriculture faces changes Slovak University of Technology Bracelet/glove with hardware which constantly emits Educational games for kindergartens and primary Multifunctional device for the modification of cellu- sound waves and receives its echoes, thanks to which the schools as well as for children and their parents. lose materials and a method of modifying cellulose visually impaired can better sense their environment. Maguss While self-sufficient in milk, beef, poultry, eggs and sugar, sector lags in pork, fruits and vegetables materials BeeSafe (wpa.beesafe.me) Interactive mobile multiplayer spell casting game The invention is related to a multifunctional device for Corporate and personal emergency application and which combines augmented reality with real world. the modification of cellulose materials, especially prin- platform providing security for people, family members MultiplexDx (www.multiplexdx.com) ted and paper products, and a method of modifying and employees. Package of diagnostic tools necessary for successful mall organic farms are scarce in Slova- cellulose materials by volatile impregnating substances Benjamin Button (www.benjaminbutton.co) treatment of cancer, including 3D diagnostics. kia, a country where agriculture is still Three-chamber gasifier Wearable camera for kids designed like a button. Orderlord (landing.orderlord.com) symbolised by a sector comprising mostly The technical fields of the invention include machi- Balcony Cultivator (challenge.biomimicry.org) Restaurant delivery management software. Slarge-scale production. neries, devices and apparatuses for the chemical and Design balcony pots, or entire small ecosystem, with Photoneo (www.photoneo.com) energy industries as well as processing of the solid three connected functional parts – bottom part for Development of 3D scanners (static scene) and 3D Historically, Slovakia was the less industrial- waste combustion of hydrocarbon materials in a composting, middle part for plant cultivation and top cameras (dynamic scene) for the production industry, ised and less modernised part of Czechoslovakia, continuous way. part for the assumed irrigation. self-driven cars and virtual reality. Machinery worm Blue Vision Labs (www.bluevisionlabs.com) Pygmalios (www.pygmalios.com) but in the years that followed World War II it This gadget is dedicated to the solution of worm node Mobile application for creating 3D models to print in Platform for the analysis of customer behavior in brick- too went through the transition from agricul- construction in machineries, mainly in compacting 3D printers. -and-mortar stores in real time. machines such as briquette or pellet presses for making CapturingReality (www.capturingreality.com) Stemi (stemi.wolftown.agency) tural through industrial to a service-oriented of various materials. State-of-the-art all-in-one photogrammetry software Mobile application which enables immediate voice and economy. Following those developments, Additive for increasing the Cetane number of diesel solution which automatically extracts 3D models from picture consultation regarding a 12 lead ECG with a Slovakia’s agricultural sector has experienced fuels and bio-diesel fuels, and its use a set of ordinary images and/or laser-scans. cardiologist in the nearest PCI cardiocentre. also filed under international application PCT/ Cloudo (www.cloudo.co) Tootoot (tootoot.co.uk) difficult years. SK2014/050015 and European patent application Platform to search and organise stuff in the cloud. Mobile-friendly safeguarding platform for schools, The main challenge is the lack of interest EP14727092.0 Corvus (www.corvuskit.com) colleges and universities to report incidents of bullying, among young people in going into farming, Pellet mill: This technical solution is related to pellet Set of applications (smart screen reader and special en- cyber bullying, racism, extremism, radicalisation, mill construction and belongs to the briquetting and vironment) which makes touchscreen Android phones sexism, mental health and self harm directly to place coupled with climate change that shifts locations Source: TASR pelleting of bulk materials. accessible to blind and partially-sighted users. of learning. of cultivation, excessive yields of certain crops, a Contact the patent holders: Crafting Plastics (www.craftingplastics.com) Vectary (signup.vectary.com) milk price crisis, foreign ownership of local land Know-how Centre, Technology Transfer Office Production of environmentally friendly and non-toxic 3D online designing tool with community-driven plat- Slovak University of Technology in Bratislava coloured bio-plastic material which can be used in the form to create and customise ready-to-print 3D models and low self-sufficiency in essential food prod- ees working in agriculture and 59,400 employees information gathering. The measure includes Vazovova 5, 812 43 Bratislava; www.ksp.stuba.sk/en fashion industry. directly in the browser and to share and collaborate ucts. Despite these dire circumstances agricul- in the food industry, in 2014 the numbers stood financial support of €33 million for primary Lucia Rybanská, [email protected], tel. +421 Croptech (www.croptech.com) on designs. (0)917 669-217 Smart automation and monitoring hydrophonic Vestigen (www.vestigen.com) ture experts see opportunities for Slovaks, mostly at 51,500 and 50,200 employees, respectively. milk products in 2016, of which €30 million Michaela Behúlová, [email protected], solutions for plant care. Equipment for diagnosis of health or life quality in organic farming, agro-tourism and specialised Between 1995 and 2014, the employment rate will be provided by the Finance Ministry and tel. +421 (0)905 293-270 Drone´n´base (www.dronenbase.com) conditions and modules for Google ARA smartphone crop production. in the sector fell by 73 percent, according to €3 million from the Agriculture Ministry, said Comenius University and Slovak Academy of Drones designed for gaming. with sensors for measuring the amount of glucose in Sciences eDocu (www.edocu.sk) the blood of diabetics and the proper functioning of “Companies which regularly fit in the SPPK statistics. Prime Minister Robert Fico as he introduced the In vivo isolation of CTCs Software which uses iTags as QR codes or NFC chips to the kidneys. top 100 agriculture companies or participate The fall comes amid a decline in agricultural measure, as reported by the TASR newswire. Technology taking advantage of magnetic nanopar- inform interested persons about producers, repairers Waste.it (www.wasteit.sk) in the Najkrajší chotár (Most Beautiful Land production, transformation and dissolution of ticles coated with a monoclonal antibody that are injec- and time of latest repair of scanned items and to Mobile application for monitoring of the the waste ted into the bloodstream via an intravenous cannula, provide other information about them. levels in the containers and notification about any Area) competition show evidence that they can non-agricultural activities and subsequently the Targeting a new generation as well as of a special wire comprising a magnetic core Groupsolver (www.groupsolver.com) damage or pollution. produce even in the unflattering conditions of low diversification of activities, low work valu- But the milk crisis is not the sole prob- coated with a non-magnetic mantle. Service for surveying customers which combines the our agriculture,” Slovak Agriculture and Food ation and loss of manual work, Holéciová said. lem the agriculture sector has to cope with. Contact the patent holder: Martin Gróf, grof.martin@ ease of free online survey software and professional University of Technology Incubator of STU - InQb savba.sk, tel: +421 (0)904 983-265 tools with advanced analytics. Pionierska 15, 831 02 Bratislava; [email protected]; Chamber (SPPK) spokeswoman Jana Holéciová She explained that employment in agriculture Generational replacement and lack of business Karmadilo (www.karmadilo.com) www.inqb.sk told The Slovak Spectator. depends on material and production efficiency, structures that would meet the demand for Startups Platform for efficiently obtaining marketing data within Department of the Slovak University of Technology saving costs and potential to sell products on specific regional products are among the long- AeroMobil (www.aeromobil.com) which respondents get a cash prize for provision of in Bratislava, which aims its activities at supporting Slovak prototype roadable aircraft which will be their opinions and choose non-profit or charitable startups. Its aim is to help the economy and tie Decline in performance domestic or foreign markets. term challenges listed by Jana Gasperová of the available for sale in 2017/2018. organisations to which the prizes automatically go. science, research and innovation with business In 2016, production and revenues of the Agriculture Ministry. AgentBalance (www.agentbalance.com) KickResume (www.kickresume.com) practice and thus enhance the competitiveness of Milk crisis affects the sector Solution that enables contact centre managers and Platform to create a standout resume, cover letter and the region and contribute to the objectives of the agriculture sector declined and only one-fifth Low interest in working in the sector among team leaders to better understand their agents. a career website quick and easy. Lisbon Strategy. of companies in the sector expect growth of Development in the sector is affected by qualified youth is a problem that the chamber their market share, the results of the survey of a frequent changes to EU subsidy programmes, is aware of too, Holéciová confirmed. SPPK research and analysis firm CEEC Research show. which impacts consumer prices. Sanctions thereby welcomes the dual education system in While the average company’s utilisation was against Russia leading to a surplus of pork, which 33 agricultural and food companies edu- VGD SLOVAKIA has a combined team 83 percent in August 2016, pessimism arises record-breaking grain harvests and unresolved cate students with the greatest interest in fields primarily in livestock production, said Jiří Vacek, problem of milk prices are all factors, said Vacek. like farmer-mechanisation and pastry baking in of 90 professionals available to assist you director of CEEC Research. The market is fore- “The market expects a large fall in sales due the academic year 2016/2017. in your investment decisions. cast to contract by 1.1 percent in 2017. to overproduction,” Vacek said. Responding to the need to employ about As a result of fewer livestock, milk produc- In 2016, Slovak dairy producers experi- 1,990 new people under 40 years of age in tion fell in 2007-2014 by 10.7 percent, beef enced milk crisis due to overproduction and low the sector, the ministry launched a project to by 25.4 percent and poultry by 12.1 percent. retail prices. To solve the crisis, the Agriculture support young farmers who are starting their Though consumption of pork, beef and poultry Ministry decided to stabilise the sector, support own animal and crop production businesses. also fell, the consumption of milk increased by employment in regions and acquire detailed data The basic measure of the project is a subsidy of 17.5 percent, according to Dagmar Matoušková on dairy farming for a long-term strategy. €50,000. of the Research Institute of Agricultural and By late September, 1,760 of the total 2,692 Other measures include a state aid scheme VGD SLOVAKIA s.r.o., Moskovská 13, 811 08 Bratislava, T +421 2 5541 0624 - vgd.eu Food Economics (VÚEPP). dairy farmers had joined the medium-term for employment of disadvantaged persons, the While in 2005, there were 81,500 employ- project which involves payments to farmers and European Social Fund for Employment, operat- SP016028/005 24 opportunities opportunities 25

ing and investment loans for novices and non- A strong feeling of belonging to the soil which could discourage cross-border investment. northern areas where they can take advantage of repayable financial aid of the 2014-2020 Rural and respect to traditions is still present mostly The EC has forced Slovak authorities to amend accumulated water during winter. Plant breeders Development Programme for Slovakia. among the rural population. the law and liberalise rules for foreigners acquir- point to a return to the Slovak breeds which are “That is why gardening still represents an ing land in Slovakia. better at handling fluctuations in temperature Local patriotism important part of the life of people, despite the The draft amendment introduced in July and water deficit than the western-European The rural character of Slovakia well into fact that the economic side of farming is no 2016 abolishes the requirement of 10 years ones, said Holéciová. the 20th century also meant that until just a few longer the most important,” Jamborová told The of residence permit to increase transparency, In the last two years, experts have recorded decades ago it was still common to see farm Slovak Spectator. awareness of market offers and number of increases in soy-beans and partly in field pea, animals in every village backyard. Agricultural In 2013-2014, subsistence farmers preventive actions against speculative buying of which are often used as renewable energy production was thus a natural part of peo- participated in the total market of vegetable land for non-agricultural purposes, according to sources. Roman Hašana of the Research Institute ple’s lives from a young age. Today, cows for produce on average by almost 40 percent and in Gasperová. of Plant Production (VÚRV) pointed out that personal use are rare and are mostly replaced domestic consumption by 60 percent. The big- “Other modifications may reduce the ad- plant types began to change in the restructuring by poultry, pigs, rabbits and bees, the ministry gest share of subsistence farmers was in cabbage ministrative burden and improve access of active of production after 1989 and since 2004 the listed. (24.1 percent), tomatoes (13.6 percent), carrots farmers to the land,” Gasperová told The Slovak sector has gradually lost its processing capacity. In the 1970s and 1990s the efforts of Slovak (11.6 percent), peppers (9.5 percent), onions Spectator. “Ongoing processes of meteorological households in rural areas to sustain themselves (8 percent), cucumbers (6.3 percent), gherkins The residency period applied only to sales of character which we can carefully call climate from their own farming products were booming. (5 percent), parsley (3.1 percent), kohlrabi (5.2 land of more than 2,000 square metres situated change do not significantly affect the structure of People living in the countryside would produce percent) and celery (0.6 percent), according to outside an urban area. In Slovakia, there were vegetable production in Slovakia,” Hašana told home-made, healthy products for themselves VÚEPP. a total of nearly 7,000 such areas outside and The Slovak Spectator. and even for their children living in cities. They “Subsistence farmers less addressed cultiva- inside village areas by July 2016, the Sme daily Rare crops already include root vegetables

would breed poultry, rabbits, produce eggs, tion of eggplants, beans, watermelons, red reported. and flax for fibre production. Hop-fields have Sme Source: pork meat and lard, vegetables, potatoes, fruits, pumpkins and spinach, which apparently stems In addition to the amendment, Agriculture been reduced and cultivation of tobacco is in crops jumped by 62.8 percent thanks to their work to our own people,” Vacek said. and other products, said VÚEPP analyst Mária from the difficulty of growing them,” Jamborová Minister Gabriela Matečná announced that she retreat due to protection of public health. A fur- increased use in energy and construction indus- More village families breeding a few hens Jamborová. In some cases they would even make said. would gather the relevant self-governing farm- ther decrease is in fruits, vegetables and potatoes tries, Matoušková of VÚEPP noted. and rabbits or cultivating tomatoes and potatoes money selling their overproduction to their ers’ organisations for a round-table on October cultivated only on 8,066.15 hectares compared are desirable, said Holéciová. neighbours or friends. Foreign ownership in spotlight 24, to discuss the possibilities of joint action in to 26,056.32 hectares in 2002, according to the Differences in self-sufficiency “When a small child gets used to healthy This created a significant “cushioning effect” With a large part of Slovak land under proposing constitutional solutions to the prob- ministry. The rate of self-sufficiency depends on home-made food, it will reach for more home- in the society that tamed the social consequences foreign ownership, former agriculture minister lem. She claims there are public concerns that “We recorded a significant decrease also volume of production and consumption, which made Slovak products as an adult,” Holéciová of transformation and restructuring of the Ľubomír Jahnátek in 2014 adopted the Act on Slovakia would become vulnerable to speculative in legumes like lentils and beans which were should not be lower than 80 percent, said said. society, and also contributed to taming the big Acquisition of Property Right to Agricultural land purchases and that the farmers’ organisa- gathered from historically lowest acreage of 60.4 Matoušková. The indicator has worsened in milk However, business-oriented farms and the difference between living standards of people in Land which required foreign buyers to be active tions are calling for a constitutional amendment hectares [in 2016] compared to 322 hectares in and beef, although the beef sector is still more trend towards professionalisation of groups of cities and people in villages. in agricultural production for at least three years to prevent potential negative consequences. 2010,” Gasperová said. than self-sufficient (108.3 percent), and grains individual farmers have significantly accelerated, Some people are now returning to farming and have a residence permit in Slovakia valid for and oil bearing crops achieve positive results. Jamborová said. and breeding animals on their own land. Such at least 10 years. Production structure alters Problems with surplus “We have also reached self-sufficiency in regional products of high quality and safety However, the European Commission (EC) In comparison with crop planting in the The current unstable era and climate change milk (89.1 percent) and poultry (93.4 percent) Government intervention guarantee that customers keep returning and criticised the rules as restricting free movement past, farmers currently raise more durum bring fluctuations in harvested agricultural even though their domestic production has not The current government in its programme do not prefer ordinary retailers, said Gasperová. of capital and hindering the right to settle, wheat and shift corn production to more commodities. In 2016, Slovak farmers cropped fully covered their consumption,” Matoušková statement pledged to develop production where around 3.2 million tonnes of grain, 2.3 million told The Slovak Spectator. authorities amend the regulation of dairy prod- Development of production and consumption of plant commodities in 2014 (2007 = 100 percent) tonnes of which the country has to export due In addition, the country is self-sufficient in ucts in schools including selection of the product to low stocks of livestock and low consumption, egg and sugar, of which products and consumes range, determination of the amount of the state 300.0 290.8 according to SPPK. about 180,000 tonnes, according to SPPK. Self- aid and the highest charges paid by students. “We have become exporters of raw material sufficiency is not the case in pork sector where There is also a target to promote free market 250.0 and import it back in the form of processed the production reaches now less than 50 percent development, where authorities have prepared a products, therefore, we do not produce added of consumption. draft law on veterinary medicinal products and 200.0 value in Slovakia but in other state,” Holéciová The situation is alarming in fruits (66.1 per- technical devices, plans to adopt the EU legisla- said. cent) and vegetables (73.6 percent), Matoušková tion of livestock breeding and increase support 168.6 162.8 150.2 151.3 151.1 In comparison with 2015, Slovakia produces added. for sources of employment, Gasperová said. 150.0 139.8 131.7 327,600 tonnes (11.4 percent) more of thick- “In 2015, the project of development of veg- 115.9 114.0 106.0104.4 sown grains although acreage of sown land is less How to be more independent etable and livestock production and update of 103.3 99.6 102.5 98.3 97.4 90.2 100.0 81.3 about 10,100 hectares (1.8 percent). Similarly, Vacek suggests better protection for do- the register of orchards in relation to main types there are greater yields of seed corn by 522,600 mestic producers instead of companies which of apple and pear trees were implemented for the 50.0 tonnes (56.2 percent), potatoes by 49,600 import goods into the country, re-package it and first time,” Gasperová said. 15.4 tonnes (37.9 percent), silage corn by 708,900 pretend they are “Slovak producers”. The future In addition, the Concept of Development 0 tonnes (34.5 percent), sunflowers by 71,700 of food self-sufficiency is in the state hands and of Slovak Agriculture for 2013–2020 aims to tonnes (41.1 percent) and sugar beet by 185,000 local patriotism, he said. increase production of agricultural commodities Corn Rye Grains Wheat Barley Colza Fruits (15.3 percent). The Statistics Office (ŠÚSR) “People buy by price and there is a lack of to 80 percent of current consumption. Sunflower Vegetables expects a fall in the barley and oats yield. national pride and education already in primary By Peter Adamovský

Oil bearing crops Production Consumption In 2007-2014, production of oil bearing schools that purchasing Slovak products gives Spectator staff Source: VÚEPP 26 Government policy & legislation Government policy & legislation- 27

“We believe this could have a moderately updates will be done annually, when a contract is Peter Bubla said. positive effect if the law is observed, mostly in its concluded, when the authorised person changes, “It is no formal matter,” Bubla said. “Provid- New tax laws and combating shells spirit, which is transparency,” PAS Executive Di- or when the company is paid by the state. ing these services is connected with significant rector Peter Kremský told The Slovak Spectator. “That means that in key moments the state reputation risk on the part of the authorised Lower corporate tax and the abolition of tax licences could make the lives of businesses easier Shell companies have played a role in most and the public will always know who the final persons.” The ministry also relies on more severe of the country’s major corruption scandals and beneficiary is,” Leontiev stressed. Critics of the sanctions to discourage companies from stating allegations, most recently the Medical Group in law, however, point to the fact that a final benefi- false or incomplete data in their registration. Im- ix months into its term, the government’s 2014 that was involved in the overpriced purchase ciary who owns less than a 25 percent stake in the portantly, the state should have the right to cancel first measures which will affect the business of a CT device in the Piešťany hospital. company does not have to be identified. the contract with such a company. environment in Slovakia are taking a clear Under the new law, every subject that gains Under the new rules, if a company or a The anti-shell law got the green light from the Sshape. Cutting the corporate income tax and money from public resources or public property natural person that seeks to do business with the parliament on October 25. abolishing tax licences have pleased businesses, (above a certain value) will be required to publish state wants to be entered in the register, it needs “The proposal to widen the current register even though the package of tax changes also their final beneficiary or beneficiaries. The law the stamp of an intermediary, a person that even of owners of companies who do business with includes things they would rather not see hap- will thus apply to public resources across the under the current legislation against money the state, and doubling the check of data through pening – like a tax on dividends. Furthermore, board, explains Andrej Leontiev, a partner at the laundering has the obligation to report suspicious attorneys or tax advisers is welcomed, but in the the parliament has passed the Justice Ministry’s Taylor Wessing law firm who cooperated on the operations and investigate the final beneficiaries: Slovak circumstances it is really just a small step in flagship measure for this term, the amendment to draft law. So far, such rules have only applied to a bank, an attorney, an auditor or a tax advisor. the fight against shell companies,” Transparency the law targeting shell companies dealing with the public procurement. These persons will be co-responsible for the data International Slovensko a non-governmental state, on October 25, 2016. The key change is that the register will be that a private person enters in the register corre- watchdog commented on the draft law earlier in Shell companies continue to pose a prob- public and regularly updated, Leontiev said. The sponds with reality, Justice Ministry spokes person July. By Michaela Terenzani, Spectator staff lem for the country as they appear behind most corruption scandals the country has seen in recent years. Meanwhile, corruption continues Legislation: FAQ from Slovak clients Q: What are the pros and cons of having a business A: Could companies end up behind bars in Slovakia? Q: Is there a chance to recover a debt claim? How to be a problem for the business environment Sme Source: and the country in general. In October 2016 the Danko, Fico, Bugár, from left. The original coalition of four shrank to a coalition of three. licence and founding a company? What form of No, they can’t – even if the new Corporate Criminal long will the process take? A: The chance to recover a company should I choose? Liability Act in effect since July 2016 introduced a dif- debt claim depends not only on the court’s decision, but World Economic Forum published its ranking of A: The decision concerning the right type of vehicle ferent approach to corporate crime. A company may be particularly on the existence of the debtor’s assets. Yet countries based on a corruption index, in which Corporate tax down, new taxes appear percent corporate tax, but after cutting it to 21 for a particular project or business depends on various punished with one of nine possible sentences, including the effective court proceeding does not guarantee the Slovakia placed as the second most corrupted The government entered office with the percent and simultaneously introducing a 7-per- aspects related to that particular business. dissolution, ban on participation in public tenders, or recovery of debt claims. The chance is created by choos- country in Europe, sharing the position with promise to reduce the corporate income tax from cent tax on dividends, their tax burden would For example, for an individual running a local business, a monetary penalty up to €1.6 mil. A company may be ing contractual partners in foresight, learning about Ukraine, after Moldova. 22 to 21 percent, while the SNS pushed for the actually increase to 26.5 percent. like a craftsperson, who is directly performing the work accused of over 50 possible offences, such as corruption, their solvency from public registers, preparing quality and does not have any intentions of expanding the busi- aggrieving the customer, unfair business practices, contractual materials or securing claims in an adequate tax to be cut even lower in the coming years, to be The tax changes disappointed businesses in ness, it could make sense to keep on running the busi- offences against the environment or tax and insurance way. The average length of a civil court proceeding Crossing the lines the lowest in the region, i.e. 18 percent. general, the Slovak Business Alliance (PAS) wrote ness in the form of a one-man business. In certain cases, evasion. All of which were chosen to be considered as was 14-16 months last year, according to the Justice The ruling coalition originally started with The slash in corporate income tax was in its comments on the Index of Business Envi- the tax advantages or family status of the entrepreneur corporate offences. It may be convicted directly, without Ministry’s statistics, but the time involved is actually four parties. Smer is the strongest of them, fol- presented in September as part of a package of tax ronment for the third quarter of 2016. The index might be relevant as well. the need to prove the fault of, or identify the offending longer. The more difficult the dispute is, the higher the lowed by the Slovak National Party (SNS) and changes to become effective as of 2017. is down by 2.73 percent to 52.7 points, the worst In case there are more persons involved in the business individual. Even acts of ordinary employees may result in risk of court procrastination, ineffective court actions and and there is potential for further growth, then it would criminal liability of a company. Of additional importance obstructions of the litigation parties. The new procedural Most-Híd, which formerly stood rather in opposi- “The aim of the change is to improve the in the past three years. This is mainly due to the be more suitable for such a business to be carried out is that a company may be held liable for the “sins” of rules offer some space to accelerate the proceedings as tion to the two parties it partnered with after the business environment and increase the motiva- tax and levy policies of the government. through a stand-alone vehicle. In most of the cases another company it has acquired or merged with, since they move the duty to submit evidence to the litigants elections. Sieť, with the smallest presence in the tion of entrepreneurs to pay taxes,” explained the Meanwhile, the government is also decreasing the preferred type of vehicle would be either a private the liability for criminal offences is assumed by legal suc- and limit the possibilities of courts to substitute this duty. coalition, has lost its relevance in the months fol- Finance Ministry. the tax burden on the self-employed. The Finance limited liability company or a joint stock company. cessors. Dominika Bajzathová, lawyer at Kinstellar Katarína Kováčová, partner at Ružička Csekes lowing the elections and only two of its MPs cur- Companies welcomed the lowered income Ministry is increasing the flat-rate 40 percent of The advantages of establishing the separate vehicle include limitation of liability of the members (share- Q: What does a company in crisis mean in practice? Q: How do I terminate employment? rently represent the coalition in the parliament. tax, but tax experts criticise the introduction of the expenses they can deduct to 60 percent, with holders), ability to transfer or to increase/expand the A: A company in crisis is defined in the Commercial A: The safest way to terminate employment is by In its programme statement, the third govern- a new 7-percent tax on dividends, which actually the cap raised from €5,040 per year to €20,000. membership (shares) in the vehicle and thus to provide Code as a company which is bankrupt (i.e. if it is a properly drafted mutual agreement, covering all ment of Robert Fico, which started its four-year interferes with the principle of single taxation. This change also means that the self-employed the business with additional funds. The establishment of indebted or insolvent) or which is facing impending outstanding rights and duties, in particular financial term in office in March 2016, particularly focused “By introducing this tax the government will pay lower health and social insurance contri- the vehicle could also be more advantageous from the bankruptcy (if the ratio of its equity to its liabilities is entitlements. This limits the threat of potential claim on lowering the unemployment rate. At that throws out the principle of single taxation and butions. tax law and accounting point of view. lower than 8:100 / the ratio for 2016 is set to be 4:100 of the employee for invalidity of termination. If the As it is considerably more expensive and administra- and the ratio for 2017 is set to be 6:100/). In effect, this employment is to be terminated unilaterally by the point Fico talked about crossing the psychologi- lines Slovakia in the range of other European Insurance companies and companies from tively burdensome to establish and maintain a joint stock means that the company in crisis will be prohibited, employer, a favoured option is to terminate the employ- cal line and going under 10 percent, an aim that countries,” Wilfried Serles, managing partner regulated sectors are displeased with the changes company and since there are practically no differences in during the period of crisis, from paying out the so-called ment based on a decision on so-called organisational Fico labelled “ambitious but absolutely realistic”, for Grant Thornton Slovensko, told The Slovak as these either introduce new tax duties for them the operation possibilities, most investors and entrepre- external funding, which replaces the company’s own re- changes causing redundancy. If the employee becomes and which was in fact fulfilled within the first Spectator. “And by doing so they lost one of their or increase existing ones. Tax experts also criticise neurs prefer a private limited liability company, unless sources, from providing company funds to its associates redundant due to the cancellation of their job position, half-year of his term. In September 2016, the last main advantages in selling Slovakia to foreign the frequency of tax changes in Slovakia. the law stipulates a particular type of business. without appropriate consideration, etc. The statutory such position cannot be reopened by the employer for As of January 2017, the simplified joint stock company body of the company in crisis is obliged to take all neces- two months following the termination of the previous unemployment rate was measured at 9.4 percent. investors.” What businesses do welcome is the planned (new legal form) enables the accommodation of the sary measures in order for the company to overcome employment. Of course business and life also bring The government, in its manifesto, pledged to The new duty would apply only to Slovak abolition of tax licences as of 2018. different interests of different shareholder groups and the crisis. The aim is the protection of creditors as well situations where unilateral termination for breach of create 100,000 new jobs and boost the employ- owners of companies and leave foreign owners offers effective ways to agree on special option rights, as the prevention against “exploitation” of companies. discipline or bad performance is also needed. As this is a ment rate, particularly focusing on young people unaffected. Under the adopted change, levies Targeting shell companies – again including employee option schemes. Nevertheless, only a limited liability company, joint-stock much more challenging exercise, the golden rule in such and people from socially disadvantaged com- from dividends to health insurers, which currently Among the measures that businesses believe Radovan Pala, partner at Taylor Wessing company or limited partnership (if its general partner is a case should be to act diligently, have proper grounds not an individual) may become a company in crisis. and evidence available and to have the stamina for a munities, while taking into account the growing amount to 14 percent, will be abolished. could have a positive effect on the business Q: What does the criminal liability of companies Galina Vlčková, junior associate at SOUKENÍK – potential court challenge. Michal Šimunič, attorney at lack of qualified workers that businesses have Tax experts point out that while before the environment is the amended anti-shell law, the mean? ŠTRPKA ČECHOVÁ & PARTNERS complained about. tax changes businesses were burdened by the 22 flagship measure by the Justice Ministry. 28 Government policy & legislation Government policy & legislation 29

should have penal consequences and which one courts will be the ones to decide in the end, and TSS: You have been criticised by many should result in drawing political responsibility the conditions of detention must always fulfill for joining this government. How should the Trust in institutions is key because it does not have a penal dimension. That the criteria of the given member state. These are justice department look at the end of your results in the criminalisation of politics, but also all legal technicalities that might also have their term in 2020, so you could say that it was all Courts should be specialised so that they can work faster, says the justice minister the politicisation of criminality, and that creates political connotations. worth it? the atmosphere we are in right now. Unless this LŽ: The law enforcement will have notably about her plans for the 2016-2020 term changes, nothing will change about the percep- TSS: In Slovakia, there are many concerns increased. In other words, we will be able to set tion either. about the functioning of the prosecution. up the judiciary system and its specialisations, so Would the European prosecutor help solve that it will create conditions for higher quality he Slovak Spectator spoke to Justice 25, after this interview took place]. sible for the culprits to hide behind a company. TSS: Are there any measures effective in some problems on the national level too? rulings. Courts will act faster. We are doing the Minister Lucia Žitňanská just before LŽ: Yes, it does concern the business envi- Also, some crimes were missing quite illogically. other countries that could be an inspiration LŽ: The European prosecutor’s office should utmost to achieve that. the flagship law of her department for ronment too, as it might be perceived as more For instance, one of the sanctions is banning the for Slovakia in this regard? be set up to prosecute crimes that violate the Tthis term, the amended anti-shell company law, red tape for those who will want to do business company from participating in public procure- LŽ: We have made it very far in the preven- interests of the EU, plus the now debated cross- TSS: Do you feel like you have to make got a green light in the parliament. The law with the state. But it is legitimate in the era of ment, but machinations in public procurement tion of corruption, mainly in transparency. We border VAT fraud. This is mostly about cases compromises with your coalition partners brings more red tape, but the minister believes the Panama Papers that the state wants to know were not among the crimes. have the publishing of contracts, and we have that involve crimes which violate the financial regarding your agenda? it to be a legitimate demand in the era of the who is hiding behind a company. the anti-shell company law. What we still need interests of the EU. Like fraud involving EU LŽ: Not when it comes to my department, Panama Papers. TSS: But even after your amendment it to pass is the material responsibility of public money. Eurojust [the EU judicial cooperation no. The programme statement in the part that TSS: Couldn’t the additional red tape does not include giving advantage to a credi- officials. That is one task I have on the table and unit] should focus on cooperation in criminal concerns my department to a large extent copies The Slovak Spectator (TSS): One of the discourage companies from participating in tor, such as in the Váhostav case (which led to that I will definitely propose in the course of issues of different types, like terrorism and such. the programme of Most-Híd in this area. It main concerns voiced by foreign investors in public procurement tenders? passing the law in 2015). next year. Another thing we need to deal with But of course a certain group of crimes would be was our priority in the coalition talks. It’s the Slovakia is the poor law enforcement in the LŽ: It might discourage a company that LŽ: Now you surprised me, I would have to is to make the law on proving property origin prosecuted on the level of the European prosecu- coalition agreement, and the priorities have been country. What is your plan in this respect for would be interested in competing for one look at the whole text to see whether it is there work. And that is a crucial question for the tor. But there are fewer crimes that violate the set there. Every coalition can only function well the next four years? order with a smaller amount of resources from or not. future too. Police, prosecution, courts. I take the interests of the EU. I do not see much of an when agreements are observed. For now, I have Lucia Žitňanská (LŽ): Law enforcement the state budget. But where large volumes [of responsibility for the courts in this regard. overlap there. In other words, the homework, not encountered the violation of agreements is also about the speed of court proceedings resources] are concerned, we are talking about TSS: The departure of Štefan Harabin our prosecution and its public role, is in our with regard to my department. and then the actual enforcement of what has such interesting orders that the red tape and its from top posts in the judiciary was seen as a TSS: The EU Council is now discussing hands. By Michaela Terenzani, Spectator staff been ruled by the court. One thing is to have a cost are negligible in comparison. And for com- breaking point, but businesses keep saying the introduction of a European prosecutor, ruling and another one is to have it fulfilled in panies who supply the state regularly, I think that not much has changed in the courts. with the hopes that it will be a closed deal reality. We are now working on one fast measure it’s a negligible cost too, because they only need What should be done next? before the end of Slovakia’s presidency of the that should be effective as of 2017: fast-tracked to register once, and not repeatedly for each LŽ: I’m glad that in the latest survey by council. payment orders in electronic proceedings, which procurement tender they want to partake in. Via Iuris and the Judicial Council, trust in the LŽ: The Slovak presidency has been doing should be issued only by the Banská Bystrica judiciary has increased. And the sole fact that its utmost to reach the agreement. At the recent District Court. It aims to make the process as TSS: Businesses in Slovakia are still there is a more cultivated debate about the council session we had the consolidated text for fast as possible, while communications should not fully aware of what another law, on the judiciary and that there are more trustworthy the first time, there is still a number of open take place exclusively in electronic form, to have criminal liability of legal persons, could mean persons at its helm than Štefan Harabin, have issues. We have six weeks until the December payment orders issued quickly. We want to make for them. definitely contributed to that. I’ve been saying all council session, enough time for bilateral meet- payment orders more attractive, so the court fee LŽ: Foreign companies shouldn’t be unfa- along that Harabin is a symptom rather than the ings, to find a solution that could be passed. will be set at half of the standard fee. miliar with it, since Slovakia is among the last cause and that it cannot be solved from one day Over the next year [2017] we will work on a countries to introduce the measure. to another. We are taking important steps and I TSS: What are the concerns you hear most major analysis of our judiciary system to prepare can imagine there will be some visible results in frequently? changes that will allow for more specialisation of TSS: How can a company prevent, for some three years’ time, concerning the speed of LŽ: One of the big issues is whether the courts and judges for individual agendas. That example, a situation when it is held criminally court proceedings. European prosecutor should also deal with big way we want to speed up court proceedings. We liable for a crime committed by its employee? cross-border VAT frauds. The discussion is also will have to work on this intensively for the next LŽ: There is really a scale of possible punish- TSS: Slovakia ranked as almost the worst about the financial limit, whether it should two or three years. ments, starting with financial fines that the country in the recent index of corruption per- be set at €5 million or €10 million. That’s one company can later demand from the employee. ception ranking. Why are we still unable to big issue where many member states are stuck, TSS: So by the end of your term courts If we are talking about really serious sanctions, fight corruption in such a way that it would because as soon as you say tax, it alludes to tax should be more narrowly specialised based on like dissolving a company, it would really have bring actual results into public perception? harmonisation. So it requires a lot of explaining your analysis? to be a very serious crime, one which does not LŽ: Too many scandals that nobody drew that this is just a penal issue. And then there is LŽ: Yes. We are starting with distrainment allow any company to hide behind an employee. responsibility for. In result, then, people simply a number of details, like what competencies the in Banská Bystrica now, but we will also deal That really is the responsibility of the company do not believe that the fight is effective, and that office will have towards the European Court with other specialisations. We would like to set to set up a system in which something like that probably causes the low trust in institutions, of Justice, what will comprise discretionary this up in 2017 and 2018. cannot happen. on the level of penal law. And that causes the remedies, or what will be the relations with perception to be what it is. Trust in institu- member states that do not participate. So there TSS: One major piece of legislation is the TSS: Why have you decided to add more tions is absolutely key in this, because today the are many legal issues and of course we have also law on a register of partners of the public sec- crimes to the catalogue listed in the law? consequences are such that it seems impossible been searching for a way to set up the competen- tor, or the so-called anti-shell company law. LŽ: Because there simply are groups of to talk about individual cases normally; we cies of the institution as such, so as not to violate Sme Source: Lucia Žitňanská (Most-Híd) has served as the justice minister in the third government [The parliament passed the law on October crimes where we cannot afford to make it pos- are losing the ability to distinguish which case the principle of subsidiarity. Of course, national of Robert Fico since April 2016. 30 Government policy & legislation Government policy & legislation 31

l reaching the required share of new technology from the total amount of Investment support in Slovakia eligible costs (40% or 20%) nvestment aid is regional support aimed at Zones l the acquisition of non-current tangible l the acquisition of non-current tangible encouraging investments and creating new Overall aid from all sources is limited by EU and intangible assets at no less than €10 and intangible assets at no less than €10 jobs in Slovakia. Individuals and legal enti- legislation and divided into several categories. million, €5 million, €3 million or €0.2 million, €5 million, €3 million or €0.2 Ities that are authorised to do business in Slova- For this purpose, Slovakia is divided into three million while no less than 50% must be million while no less than 50% must be kia, and whose investment activities and projects parts – western, central, and eastern. In contrast covered by business’ equity or assets covered by business’ equity or assets meet the conditions of the Act on Investment with the previous legal regime, cash forms of l the acquisition of new production and l creation of new jobs – increase of the Aid (Act 561/2007 Coll. on Investment Aid) are investment aid can in principle be granted in all technological equipment designated for overall number of employees by at least 40, eligible to apply for investment aid. regions. production purposes or 10 l Maximum intensity of aid reaching the required share of new Types of investments eligible for support Western Slovakia 25% technology from the total amount of By Lucia Guzlejová, l Industrial production Central Slovakia 35% eligible costs (60%, 50%, 40% or 30%) senior consultant at PwC in Slovakia TASR Source: l Technology centres Eastern Slovakia 35% l creation of new jobs – increase of the l Strategic service centres overall number of employees by at least 40, l Tourism Conditions for industrial projects and tourism or 10 new jobs Legislation: FAQ from foreign clients Investment projects can be supported, pro- Forms of investment incentives vided they meet the following conditions: Technology (R&D) centres Q: Is it better to establish a branch office or a com- A: In general, according to the Commercial Code, a fore- the unwillingness and incapability of respective autho- pany in Slovakia? ign entity – i.e. natural person with residence outside of rities to solve the corruption suspicions promoted in If an investor meets the set conditions, they Industry Conditions for granting investment A: The Slovak Commercial Code allows foreign Slovakia or a legal person established outside of Slovakia the media in a trustworthy way. As a result, the public can apply for the following types of state aid: l the building of a new business, the ex- incentives to technology centres include: entities to either open a branch office or to establish – can do business on Slovak territory under the same sees the corrupt behaviour also in cases where there l a subsidy for the acquisition of non- pansion of an existing one, the diversification l the construction of a new technology a separate (standalone) subsidiary company. The conditions and in the same scope as Slovak citizens do. is no real corruption, for example, in cases of losing a current tangible or intangible assets of production to new products which were centre or expansion of an existing one activity of a branch can fully replace the activities of In regard to a foreign natural person as a partner or court dispute or public competition. a subsidiary company. founder of a legal entity, there are no special conditions Such a perception of corruption, however, has its po- l income tax credit not manufactured before, or a radical change l the acquisition of non-current tangible The main difference between a branch and a stan- applying to them. The situation is different in the case sitives. People are more sensitive to corrupt practices l a contribution for new jobs in the production programme of an existing and intangible assets valued at no less than dalone subsidiary company, and at the same time of foreigners acting as a statutory body. Prior to their which were considered “ordinary” in the past, like l transfer of real estate business €500,000, while no less than 50% must be the main disadvantage of a branch, is that a branch registration in the Commercial Register, as a person cronyism, and are ready to help in revealing them and covered by business’ equity or assets does not constitute a separate legal entity/vehicle. authorised to act on behalf of the legal person, the achieve the observation of the principles of justice Maximum intensity of investment aid in Slovak regions l creation of new jobs – increase of the This means that the founder of a branch is liable for registration court checks whether this natural person and equality before the law. Unlike in the past, higher overall number of employees by no less than all obligations of the branch and that debts of the has a valid residence permit in Slovakia. The obligation transparency can be observed in the state bodies’ ac- branch are directly enforceable on its founder. The in the preceding sentence does not apply to European tions, and not only in fulfilling their legal duties. When 30 advantages of a branch are that it is easy to open/ Union citizens or to citizens of OECD member states. approaching the authorities, real efforts to be helpful l at least 70% of the total number of establish and to close, and it does not have to build According to the Slovak legislation, operating a business towards clients when implementing their projects or staff of a technology centre must have a any initial (registered) capital. Usually, a branch is one of the purposes for granting a temporary residen- solving their problems can be seen. university education is preferred in a situation in which an initial loss is ce permit. Though the perception of law enforcement has not expected, enabling the founder to use this loss for A foreign natural person has some additional obligations been improved by the measures adopted by the cu- tax purposes abroad. when obtaining a trade licence. According to the Slovak rrent government (changes to the court proceeding, Business service centres Andrej Leontiev, partner at Taylor Wessing legislation, concerning trade notification, a natural and bankruptcy proceedings), this disability of the Conditions for granting investment person with residence abroad is required to provide state to protect healthy business environment can be incentives to strategic service centres Q: What is the tax system like in Slovakia and what a national authorised person for delivery purposes. A an impulse for entrepreneurs to be more responsible include: are the tax rates? foreign person is also obliged to submit a confirma- and far-sighted regarding their business activities and A: Compared to western Europe, the overall tax tion of integrity not older than three months (Slovak avoid situations in which they would have to rely on Western Slovakia l the construction of a new strategic (except for the Bratislava Region) burden is relatively low and the tax system is simple. state authorities provide this confirmation for Slovak state bodies. Central Slovakia service centre or the expansion of an The corporate income tax rate is 22 percent, yet nationals). Tomáš Balún, associate at Ružička Csekes existing one Eastern Slovakia can be expected to fall to 21 percent from 2017. According to the Commercial Code, a foreign person can l the acquisition of non-current tangible Dividends (both received and paid) are currently tax do business in Slovakia also as an enterprise of a foreign Q: What are the responsibilities of a statutory body? exempt. Only dividends received by Slovak individuals person or as a branch of a foreign person and both of A: Generally a statutory body is liable for any damage This map, available for industry as well as tourism, and intangible assets valued at no less than €400,000 while no less than 50% must be are subject to health insurance (14 percent). Health them are obliged to be registered in the Commercial Re- caused to the company by a violation of duties, unless indicates minimum investments required in the individual districts in Slovakia insurance contributions are proposed to be abolished, gister. Natural persons – entrepreneurs with residence it can demonstrate its acting with due care and in covered by business’ equity or assets in exchange for a more favourable 7 percent withhol- in one of the EU member states or in one of the member good faith of a company’s best interests. A breach of l creation of new jobs – increase of the ding tax on paid dividends. This tax will, however, not states of the OECD are exempted from this obligation. duties may result in a damage compensation claim, overall number of employees by no less apply if the EU Parent-Subsidiary Directive or double Michaela Pavlinská, junior associate at SOUKENÍK which can also be raised in certain cases by the than 40 tax treaty exemptions overrule the domestic tax tre- - ŠTRPKA creditors of a company. The liability of the statutory atment. Dividends received by companies should still body cannot be excluded; any agreements concluded l at least 60% of the total number remain tax exempt. VAT legislation is fully harmonised Q: What is the state of corruption in Slovakia? What with the statutory body in this respect are invalid. of staff must have a university education with the EU, with the VAT rate at 20 percent. A special is the law enforcement like? The statutory body is also not liable for execution of levy is paid by certain regulated businesses (such as A: Corruption is a phenomenon that negatively a decision of general meeting, provided it is not in Tourism energy, insurance, banks, railways or airlines) at a rate impacts the economy, the business environment in breach of the law or corporate documents, while this l the construction of a new of 0.363 percent of annual profit (0.4 percent in the Slovakia and most of all the trust of people in the state does not relate to the duty to file for bankruptcy of the comprehensive tourism centre or an banking sector). bodies and authorities. According to the corruption company. Proper corporate governance, gathering Adam Hodon, partner at Kinstellar index published by Transparency International, of information prior to adopting decisions, and clear expansion of an existing one by offering Slovakia was the fifth worst in corruption perception lines of responsibility, can limit exposure. Specific new services Q: What permits or specific conditions are foreign among the EU countries in 2015. Inhabitants notice liability insurance for statutory bodies can add further l the acquisition of new technological persons required to meet if they want to start opera- the corruption especially in health care, justice and the comfort. Michal Šimunič, attorney at ČECHOVÁ & equipment designated for offering services ting their business in Slovakia? activities of ministries. This is caused particularly by PARTNERS 32 Government policy & legislation Government policy & legislation 33

trial, which may also include revealing business “The laws in Europe are generally not as Sanctions secrets or other confidential information. How- strict though, although they may have a similar n dissolution of the company; Criminal liability: ever, such disclosures will not constitute a breach effect” she added. n seizure of its property; of confidentiality obligations, as disclosures to On the other hand, when it comes to police n financial sanction; investigating authorities are usually permitted by raids or carrying out a sentence, cross-border n ban on activities; Firms should focus on prevention several contractual clauses, she added. communication between criminal authorities is n ban on accepting subsidies, subventions “Problems may arise when a court file is at a very good level. In addition, the parliament or money from EU funds; Preparation for all the risks arising from a new criminal liability law seems inevitable n accessed by various intervening parties,” Ba- passed a law that would enable smooth recogni- ban on attending public competitions; times of authorities having to i.e. the extent of measures will be very different jzáthová said, adding that any further disclosure tion of sentences issued abroad, which should n duty to publish the verdict. find a specific person in order The company is prosecuted and will depend on the analysis each company may put the company at significant risk, as simplify cross-border matters, Schweizer said. for a crime committed to launch a criminal prosecu- will carry out,” Schweizer said. business secrets usually contain a large scope of Also due to these cases it is important to commit a crime without the foreign representa- n to the benefit of the company; Thetion against a company are over. know-how. Once that is made public, it could have good compliance programmes, as criminal tives even noticing it. n in the name of the company; Slovakia was the last EU country to adopt Beware of risky business partners affect “not only the operation of a company but prosecution still poses risks. In such cases it is important to carry out a n within the activities of the company; a law on the criminal liability of legal entities, Businesses should also prepare for potential also its ability to be competitive on the market, “Mainly big companies have already man- more detailed risk analysis and prepare more n via the company. drawing inspiration mostly from similar Czech investigations in connection with a crime com- notwithstanding negative implications on its aged to do so,” Schweizer said, explaining that in-depth compliance programmes to prevent any laws. Though the law only became effective Who can make the company mitted by their supplier or business partner. strategic business planning”. since the parent companies have compliance misconduct, she stressed. in July 2016, it has already been amended as responsible Such criminal proceedings might generate Yet this may be mitigated by clear indica- programmes in place, their branches also take “In western countries the programmes n a statutory body or its member; the Justice Ministry proposed an extention of several problems, said Bajzáthová. For example, tion that the information belongs amongst trade such initiative. usually also contain establishment of a forensic n a person carrying out supervisory the catalogue of crimes for which firms can be agreements with business partners sometimes secrets, said Schweizer. The only thing they need to do now is adjust analysis team which investigates wrongdoing, or control activities; prosecuted. contain clauses under which any pending their compliance programmes to the Slovak wilful misconduct or even negligence effecting n a person entitled to represent or decide The law does not only mean that the police proceeding of such nature may constitute the Are parents at risk? conditions, the lawyer said. operations within the company, regardless of the n in place of the legal entity. can prosecute an entire company, but it also right to terminate the agreement. Or, business Branches of foreign companies established in criminal prosecution,” Schweizer said. Adding forces the firms to adopt measures to protect and supervising bodies, or people authorised to partners might decline further business with Slovakia could also land their mother companies Distance is not an excuse that without proper investigation and decision- themselves from potential prosecution. represent it. However, this is not the case of state a company that is being prosecuted. One can in trouble; but in that sense organisational units Even in cases in which a company’s author- making based on findings of the internal team, “Many companies, however, still do not bodies and authorities. therefore expect a substantial negative impact on and subsidiaries need to be distinguished. Or- ised representatives or members of its board of companies may incur financial risk, which many realise the impact of the law,” Lucie Schweizer, The presumption of innocence applies in business. ganisational units do not have a legal personality, directors do not reside in Slovakia, they should cannot afford. partner at Ružička Csekes law firm, told The criminal proceedings against legal entities just Moreover, in the proceeding, the court may which means that its parent company may be take heed of about the protective measures Even if the companies adopt as many Slovak Spectator. like in any other criminal proceedings. impose some restraining and securing orders. directly responsible for its activities, regardless of against potential criminal prosecution. The Slo- precautions as possible, without valuating their The recent survey carried out by the com- “This means that a company will be looked The company might be prohibited from dispos- its location, Schweizer explained. vak law contains the principle of strict liability, effectiveness within the company, the company pany Screening Solutions confirms this. Only upon as ‘innocent’ until proven guilty by a valid ing certain assets or rights, Bajzáthová added. In regard to the latter, prosecution depends which means that though they are absent, they may still face risks connected with the criminal 38 percent of survey respondents said they had and non-appealable court decision,” Dominika “Such orders could ultimately lead to restric- on the laws on criminal liability of the legal are still responsible for their firm’s actions, ac- proceeding as the law provides quite extensive implemented or were planning to implement Bajzáthová, lawyer at the Kinstellar law firm, tions on the performance of a company’s normal entities adopted by the country in which the cording to Schweizer. interpretations of possible involvement of the measures with regard to the new law. Only 6 told The Slovak Spectator. business, i.e. on the performance of its obliga- parent firm resides. US legislation, for example, For the purpose of the criminal proceeding, criminal proceeding bodies. percent of respondents find the law beneficial Not even this principle, however, prevents tions to its business partners,” she explained. is extraterritorial, meaning the activities of the it is necessary to have one joint representative in “The question of legality and opportunity for them, while 21 percent claim they do not see the potential harm to a company’s reputation, Schweizer recalled a case from the Czech subsidiary have an impact on the parent firm. Slovakia. This may become a bit tricky, especially is discussed in every jurisdiction,” Schweizer any merits. even if it is found not guilty at the end of the Republic where a company saw its finances and If the subsidiary is prosecuted, the parent com- in cases when it is this person who commits the said, adding that the law is flexible enough to The criminal prosecution of a company is proceeding, Bajzáthová and Schweizer agree. property being frozen for two years as there was pany, for example, has to report these problems crime. be applied in various situations and its actual only the tip of the iceberg. There are also other a suspicion that it was involved in a crime. In to the regulatory authorities, and it even may “Internal fraud is the worst,” Schweizer said, application will hopefully provide more insight risks for companies: harm to their reputation, Every company must take precautions the end, however, it turned out the suspected have an impact on its stock value, Schweizer explaining that these people know exactly how into answers, which we currently do not have. financial, operational or insurance risks involved, “One of the most significant downsides of company was innocent and the court decided on said. the company works and it is easier for them to By Radka Minarechová, Spectator staff many internal as well as external processes may a pending criminal prosecution is its effect on un-freezing its assets. be somehow affected by the original prosecu- a company’s good reputation,” Bajzáthová said. A similar case may also occur in Slovakia tion, Schweizer said. That is why it is advisable for companies to take as the police seizure may include agreements, “daily precautionary measures” to avoid criminal invoices, server or other IT equipment as well Prosecution is a risk for reputation prosecution. as other property including machinery, if there Back in 2010, Slovakia first introduced what This is done via the so-called compliance is a reasonable belief that it is important for the was called the indirect criminal liability of legal programmes: internal policies that deal with criminal proceeding as such, Schweizer said. persons as part of the Criminal Code. It worked supervision over the compliance with legal “This is, however, nothing new in the crimi- in a way so that the whole company could be regulations, which should mitigate the potential nal legislation, the law on the criminal liability prosecuted only if its links to a specific person harm, Schweizer added. of legal entities only extends the possibilities of who committed a crime were proven. As far as she knows, the General Prosecutor’s its use,” the lawyer added. There is no such requirement under the new Office will require companies to have at least a rules, yet there are specific conditions which basic directive on the criminal liability of legal Business secrets might be revealed need to be fulfilled. The crime needs to be com- entities, regularly update it, regular trainings in Given that the new act contains no mitted to the financial benefit of the company, this field and also identify risks every company provisions on obtaining evidence, the criminal in its name or via its activities. Those who can may face in the future. authorities apply general provisions of the Crim- commit such a crime could be its statutory “As the requirement is to have effective com- inal Procedure Rules, said Bajzáthová. These representatives, members of the controlling pliance programme in place, the effectiveness, include a broad obligation to cooperate during a Source: TASR Source: Even an employee is capable Who‘s who: attorneys in Slovakia 35 of „ravaging“ firm Bartošík Peter Nemčíková Dana In my practice, I am frequently confronted with and claiming damages against such a person. I believe that exact definition of acts (or failure Partner Partner Bartošík Šváby s.r.o. Ružička Csekese s.r.o the question whether an employee has the capability If the person in question is an employee, the to act) of an employer will deem a breach of work- T +421 2 3233 3444 [email protected] Plynárenská 7/A, 821 09 Bratislava - Ružinov Vysoká 2/B, 811 06 Bratislava - StaréF +421 Mesto 2 3233 3445 www.rc-cms.sk of devastating the firm or endanger its CEO, why provisions of the Labour Code and/or Civil Code ing discipline from its own (commercial, manufac- www.bartosiksvaby.sk www.rc-cms.sk this might happen and what are the consequences of dealing with compensation for damages will be ap- ture, business) perspective – which have been duly Tel.: +421(0)2 5244-2181 Tel.: +421(0)2 3233-3441 Inz_Vizitka.indd 2 05.10.16 12:38 such an event for the employer, employee, supervi- plied appropriately. Where a failure of the employ- notified to all employees together with potential Year of becoming an attorney: 2004 Year of becoming an attorney: 2001 E-mail: [email protected] E-mail: [email protected] sors or for CEO. er’s executive body, or member of the executive body consequences of such acts – will greatly improve the To begin with, a laconic answer to the majority (who is in many cases deemed employee, although position of an employer who chooses to serve a ter- Graduate of: Comenius University in Bratislava Graduate of: Comenius University in Bratislava of the above questions would be “yes”: his/her position is different from the legal aspect), mination notice or “fire” an employee on the spot. Areas of law: real estate, corporate, M&A, energy law, labor law, litigation, Areas of law: banking & finance, corporate and M&A Employers and their CEOs may face a num- employer may choose to follow the provision of the Nonetheless, only the court can decide, whether the intelectual property ber of risks associated with illegal conduct of an Commercial Code. termination of employment by notice or instantly employee. Indeed, this may be a result of the new is, or is not valid and effective. law concerning criminal liability of legal entities Damage claims against employees Belovičová Silvia Ružička Jaroslav (Criminal Liability Act No. 91/2016) that came Committing a criminal offence listed in the Defence Partner Managing partner into effect on 1 July 2016. CL Act by employee may cause damages to the em- Employers having in place compliance guide- Squire Patton Boggs s.r.o. Ružička Csekes s.r.o. Zochova 5, 811 03 Bratislava - Staré Mesto Vysoká 2/B, 811 06 Bratislava - StaréT +421 Mesto 2 3233 3444 [email protected] Damage means a fine imposed on the em- F +421 2 3233 3445 www.rc-cms.sk ployer. lines, i.e. internal policies dealing with supervision www.squirepattonboggs.com www.rc-cms.sk Why can this happen? ployer or other damages associated with criminal over compliance with legal regulations are already Tel.: +421(0)2 5930-3411 Tel.: +421(0)2 3233-3441 Supervision of an employee may not be suffi- activity. partly prepared for the defence. They only need to Year of becoming an attorney: 2001 Year of becoming an attorney:Inz_Vizitka.indd 1992 2 05.10.16 12:38 cient. If such an employee commits a criminal of- Negligent and intentional criminal offences will give certain consideration to the new piece of leg- E-mail: [email protected] E-mail: [email protected] fence, his/her employer, i.e. legal be treated differently. islation and adjust and/or amend accordingly their Graduate of: Comenius University in Bratislava, Utrecht University Graduate of: Comenius University in Bratislava entity, may be held liable. Having regard to the fact that internal policies. Areas of law: restructuring & insolvency, banking & finance Areas of law: real estate, construction, corporate and M&A, infrastructure, PPP Hypothetically, this would in- majority of criminal offences pur- From the CL Act perspective, it is necessary to volve an employee of a company suant to the CL Act are classified prevent an employee from committing a crimi- committing a criminal offence as intentional criminal offences, nal offence pursuant to the CL Act, expose his/her listed in the new Criminal Liabil- claims for compensation for dam- employer to criminal prosecution and to ensure Csekes Erika Šváby Boris ity Act (CL Act), and the crime ages caused by a conduct other – as part of the control and supervision procedures Managing partner Partner will be “assigned” to the company. than ‘negligent act’ will not be re- – compliance with all applicable legal and other Ružička Csekes s.r.o. Bartošík Šváby s.r.o. Vysoká 2/B, 811 06 Bratislava - StaréT +421 Mesto 2 3233 3444 [email protected] Plynárenská 7/A, 821 09 Bratislava - Ružinov In other words, criminal proceed- stricted solely to claiming amounts regulations. F +421 2 3233 3445 www.rc-cms.sk ings may be conducted against the equalling “only” to four times the What may help in general – apart from the gen- www.rc-cms.sk www.bartosiksvaby.sk Tel.: +421(0)2 3233-3432 Tel.: +421(0)2 5244-2181 Inz_Vizitka.indd 2 05.10.16 12:38 employer and the employer might employee’s average monthly sal- eral application of the CL Act to legal entities, em- Year of becoming an attorney: 1992 Year of becoming an attorney: 2006 by convicted and punished in a ary. We would recommend to ployers – is a functioning and efficient prevention, E-mail: [email protected] E-mail: [email protected] Mgr. Sylvia Szabó, manner that was applicable solely claim compensation for damages in practical control mechanism and other measures Partner to individuals in the past. Nonethe- cash, and to claim also potential lost legal entities already have in place for other reasons. Graduate of: Comenius University in Bratislava Graduate of: Comenius University in Bratislava Areas of law: corporate and M&A Areas of law: corporate, M&A, litigation and dispute resolution, labour law, real less, the employer would not be detained; rather, profit. Damage may be caused also where employer A number of foreign companies active in Slo- estate law, contract law it would face e.g. the penalty of a ban on further is required to pay either a fine imposed in other type vakia have similar measures in place, such as meas- business. of proceedings, such administrative proceedings, or ures against fraud, corruption, measures supporting is required to compensate for costs of removal of a whistleblowing, prevention of unfair conduct that Who can be responsible? damage. Where final conviction has been handed are based – in addition to the Slovak law – also on Kollár Renátus Šváby Igor Partner Partner Executive Officers and an employee whose down against the employee, then we are of the opin- the laws of the USA (FCPA) or United Kingdom Allen & Overy Bratislava, s.r.o. Bartošík Šváby s.r.o. responsibilities include also supervision over other ion that employer would not be required to provide (Anti-bribery Act). Another set of efficient measures Eurovea Central 1, Pribinova 4, 811 09 Bratislava - St. Mesto Plynárenská 7/A, 821 09 Bratislava - Ružinov employees (i.e. “compliance manager”) are deemed evidence of the employee’s guilt and may claim the would include good quality drafting of employment www.allenovery.com www.bartosiksvaby.sk ‘qualified persons’. entire damage against the employee. contracts, working rules, codes of ethics, regular up- Tel.: +421(0)2 5920-2400 Tel.: +421(0)2 5244-2181 I believe that cases where qualified persons will In order to determine the employee who acted dates and amendments to existing internal policies Year of becoming an attorney: 2002 Year of becoming an attorney: 2009 E-mail: [email protected] E-mail: [email protected] cause problems to their companies will not be rare. illegally, the employer should perform its internal and regular employee training, together with cor- In the majority of cases, this will happen if an execu- investigation process. In doing so, employer would rect evaluation and assessment of the conduct by Graduate of: Comenius University in Bratislava Graduate of: Comenius University in Bratislava tive body or supervisor underestimates the super- be able to lodge a claim for damages correspond- and acts of employees and subsequent application Areas of law: banking and finance Areas of law: real estate, contract law, intellectual property, employment, litiga- vision or control over employees. ing to four times the employee’s average monthly of consequences that would support the protection tion, bankruptcy a restructuring Illegal conduct by employees may result in salary as a result of negligent conduct, and possibly and defence of employers’ interests. employers filing damage claims against its execu- also a claim for damages pursuant to the Civil Code, Mgr. Sylvia Szabó, Partner dealing with legal tive and representative bodies if it is proven that the should the employee’s employment be terminated. aspect of corporate criminality issues Magál Martin Valko Marián executive body breached its obligation to carry out Employers are advised to introduce and and compliance programs Managing partner Partner adequate and sufficient supervisory and control ac- strictly follow adequate and effective preventive Allen & Overy Bratislava, s.r.o. Valko Marián & partners, s.r.o. Eurovea Central 1, Pribinova 4, 811 09 Bratislava - St. Mesto Porubského 2, 811 06 Bratislava - Staré Mesto tivities whereby it made the employee’s illegal con- measures. www.allenovery.com www.mvalko.sk duct or act possible. Tel.: +421(0)2 5920-2400 Tel.: +421(0)2 3231-3820 hoW can companies Year of becoming an attorney: 2001 Year of becoming an attorney: 2002 What are the consequences? “get riD” of employees? E-mail: [email protected] E-mail: [email protected] According to the CL Act, a criminal offence An employer that is able to determine what ex- Graduate of: Comenius University in Bratislava, University of Cambridge Graduate of: Comenius University in Bratislava committed by an employee may result, apart from actly amounts to a breach of the working discipline Areas of law: corporate, commercial, dispute resolution practice in the CEE Areas of law: corporation law, company law, civil law, property law, administra- T +421 2 3233 3421 [email protected] punishment of the employee, employer, also ren- and how such a breach is to be penalised will have F +421 2 3233 3443 www.rc-cms.sk region tive law, litigation, mediation dering the responsible qualified person liable, an easier life and will always be in the right.

Inz_Vizitka.indd 1 05.10.16 12:38

SP016105/002

Ruzicka2_PR_2016.indd 2 18. 11. 2016 12:13:50 LARGEST LAW FIRMS IN SLOVAKIA 37

10 LARGEST LAW FIRMS IN SLOVAKIA 2016 1. Advokátska kancelária Ecker-Kán & Partners 2. SOUKENÍK – ŠTRPKA 3. Ružička Csekes 4. Allen & Overy Bratislava 5. Advokátska kancelária RELEVANS 6. Havel, Holásek & Partners 7. White & Case 8. Kinstellar LAW FIRMS 9. Škubla & Partneri IN SLOVAKIA 10. PRK Partners This ranking of the 10 largest law firms in Slovakia was created based on five factors derived from 2015 data to which we gave different weights: number of attorneys (36% weight); 2016 number of law graduates (practicing longer than 3 years) besides attorneys (18% weight); number of law graduates (practicing less than 3 years) besides attorneys (6% weight); sales revenue (25% weight); net profit per partner (15% weight). A few law firms decided not to provide information and are not included in this ranking.

10 largest 10 largest law firms by revenue 10 largest 10 largest law firms by ppp* law firms 1. Allen & Overy Bratislava law firms 1. Advokátska kancelária Ecker-Kán & Partners 2. Advokátska kancelária Ecker-Kán & Partners 2. White & Case 3. Kinstellar profit 3. Allen & Overy Bratislava Sales 4. Ružička Csekes per 4. Škubla & Partneri revenue 5. White & Case 5. Advokátska kancelária RELEVANS 6. SOUKENÍK – ŠTRPKA partner 6. Kinstellar 7. Havel, Holásek & Partners 7. PRK Partners IN SLOVAKIA 8. PRK Partners IN SLOVAKIA 8. Ružička Csekes 9. Hamala Kluch Víglaský 9. BOĽOŠ & PARTNERS 2016 10. Advokátska kancelária RELEVANS 2016 10. Valko Marián & partners * sales revenue in 2015 * net profit in 2015, ** includes only partners with share on profit

LAW FIRMS Number Law graduates besides 10 largest Number of law of attorneys (practice > 3 years graduates attorneys / practice < 3 years) law firms 1. SOUKENÍK – ŠTRPKA 53 23 30 (10 / 20)

2. Ružička Csekes 34 34 0 (0 / 0)

3. Havel, Holásek & Partners 31 16 15 (4 / 11) IN SLOVAKIA number 4. Advokátska kancelária Ecker-Kán & Partners 26 17 9 (5 / 4) of law 5. Advokátska kancelária RELEVANS 26 17 9 (8 / 1) 6. Advokátska kancelária agner & partners 25 14 11 (6 / 5) graduates 7. TaylorWessing e/n/w/c advokáti 23 13 10 (5 / 5) 8-9. Allen & Overy Bratislava 22 17 5 (2 / 3)

8-9. Škubla & Partneri 22 15 7 (4 / 3) 2016 IN SLOVAKIA 10. Bartošík Šváby 20 11 9 (5 / 4) 10. Deloitte Legal 20 10 10 (5 / 5)

2016 10. PRK Partners 20 12 8 (3 / 5) * average number of full-time law graduates in 2015 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract)

general partner content advisor 38 LARGEST international LAW FIRMS in slovakia LARGEST SLOVAK LAW FIRMS 39

10 LARGEST INTERNATIONAL LAW FIRMS IN SLOVAKIA 2016 10 LARGEST SLOVAK LAW FIRMS 2016 An international law firm has headquarters outside of Slovakia or is in association with / integrated into an international A Slovak law firm has headquarters in Slovakia and is not in association with / integrated into an international group group (network) of law firms that helps in a significant way to apply systems and processes (network) of law firms that helps in a significant way to apply systems and processes 1. Allen & Overy Bratislava 1. Advokátska kancelária Ecker-Kán & Partners 2. Havel, Holásek & Partners 2. SOUKENÍK – ŠTRPKA 3. Kinstellar 3. Ružička Csekes 4. PRK Partners 4. Advokátska kancelária RELEVANS 5. White & Case 5. Škubla & Partneri 6. TaylorWessing e/n/w/c advokáti 6. Bartošík Šváby international 7. PETERKA & PARTNERS 7. Advokátska kancelária agner & partners 8. Deloitte Legal slovak LAW FIRMS LAW FIRMS 8. Hamala Kluch Víglaský 9. bnt attorneys-at-law 9. Futej & Partners IN SLOVAKIA 10. Dentons Europe CS LLP This ranking of the 10 largest international law firms in Slovakia was created based on five factors derived from 2015 data to which we gave different weights: number of attorneys 10. ČECHOVÁ & PARTNERS (36% weight); number of law graduates (practicing longer than 3 years) besides attorneys (18% weight); number of law graduates (practicing less than 3 years) besides attorneys This ranking of the 10 largest Slovak law firmswas created based on five factors derived from 2015 data to which we gave different weights: number of attorneys (36% weight); num- 2016 (6% weight); sales revenue (25% weight); net profit per partner (15% weight). A few law firms decided not to provide information and are not included in this ranking. 2016 ber of law graduates (practicing longer than 3 years) besides attorneys (18% weight); number of law graduates (practicing less than 3 years) besides attorneys (6% weight); sales revenue (25% weight); net profit per partner (15% weight). A few law firms decided not to provide information and are not included in this ranking.

10 largest 10 largest international 10 largest 10 largest international law firms by pPP* 10 largest Slovak law firms 10 largest Slovak law firms by PPP** law firms by revenue 10 largest 10 largest international international by revenue 1. Allen & Overy Bratislava 1. White & Case slovak 1. Advokátska kancelária Ecker-Kán & Partners slovak 1. Advokátska kancelária Ecker-Kán & Partners law firms law firms law firms 2. Kinstellar 2. Allen & Overy Bratislava law firms 2. Ružička Csekes 2. Škubla & Partneri 3. White & Case profit 3. Kinstellar 3. SOUKENÍK – ŠTRPKA 3. Advokátska kancelária RELEVANS Sales 4. Havel, Holásek & Partners 4. PRK Partners Sales 4. Hamala Kluch Víglaský profit 4. Ružička Csekes 5. PRK Partners per 5. Havel, Holásek & Partners 5. Advokátska kancelária RELEVANS per 5. BOĽOŠ & PARTNERS revenue 6. Dentons Europe CS LLP 6. PETERKA & PARTNERS revenue 6. BOĽOŠ & PARTNERS 6. Valko Marián & partners 7. TaylorWessing e/n/w/c advokáti partner 7. BBH advokátska kancelária 7. ADV. KANC. DVORECKÝ & BOHUNICKÝ** partner 7. Bartošík Šváby IN SLOVAKIA 8. PETERKA & PARTNERS IN SLOVAKIA 8. TaylorWessing e/n/w/c advokáti 8. Škubla & Partneri 8. Advokátska kancelária Bugala - Ďurček 9. Lansky, Ganzger & Partner Rechtsanwälte 9. Noerr 9. Paul Q 9. SOUKENÍK – ŠTRPKA 2016 10. Noerr 2016 10. bnt attorneys-at-law 2016 10. Barger Prekop 2016 10. MAREK & PARTNERS * sales revenue in 2015 * net profit in 2015, ** includes only partners with share on profit * sales revenue in 2015; ** from January 29, 2016: ADVOKÁTSKA * net profit in 2015, ** includes only partners with share on profit KANCELÁRIA DVORECKÝ & PARTNERI

10 largest Number of law Number of Law graduates besides attorneys (practi- 10 largest Number of law Number of Law graduates besides attorneys (practi- international graduates attorneys ce > 3 years / practice < 3 years) graduates attorneys ce > 3 years / practice < 3 years) slovak law 1. SOUKENÍK – ŠTRPKA 53 23 30 (10 / 20) law firms 1. Havel, Holásek & Partners 31 16 15 (4 / 11) firms 2. Ružička Csekes 34 34 0 (0 / 0) 2. TaylorWessing e/n/w/c advokáti 23 13 10 (5 / 5) 3-4. Advokátska kancelária Ecker-Kán & Partners 26 17 9 (5 / 4) 3. Allen & Overy Bratislava 22 17 5 (2 / 3) number 3-4. Advokátska kancelária RELEVANS 26 17 9 (8 / 1) 4-5. Deloitte Legal 20 10 10 (5 / 5) number 5. Advokátska kancelária agner & partners 25 14 11 (6 / 5) of law 4-5. PRK Partners 20 12 8 (3 / 5) 6. Škubla & Partneri 22 15 7 (4 / 3) of law 7. Bartošík Šváby 20 11 9 (5 / 4) graduates 6. PETERKA & PARTNERS 18 13 5 (3 / 2) 8. Futej & Partners 18 11 7 (4 / 3) 7-9. bnt attorneys-at-law 17 12 5 (2 / 3) graduates 9. ČECHOVÁ & PARTNERS 16 10 6 (3 / 3) 7-9. Kinstellar 17 10 7 (3 / 4) IN SLOVAKIA 10. IKRÉNYI & REHÁK 15 9 6 (3 / 3) 7-9. White & Case 17 12 5 (3 / 2) 10. Malata, Pružinský, Hegedüš & Partners 15 7 8 (4 / 4) 2016 10. Dentons Europe CS LLP 15 11 4 (1 / 3) 2016 10. Paul Q 15 8 7 (0 / 7) * average number of full-time law graduates in 2015 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract) * average number of full-time law graduates in 2015 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract) Law Firms - 2012 Top 5 Deals in Slovakia

40 Top 5 All-Time Deals of the Largest Law Firms in Slovakia 2015/2016 Top 5 Deals of the Largest Law Firms in Slovakia 41

Deal 1 Deal 2 Deal 3 Deal 4 Deal 5 Deal 1 Deal 2 Deal 3 Deal 4 Deal 5

Názov (v abecednom poradí) www Názov (v abecednom poradí) Company www (listed alphabetically) www Company (listed alphabetically) Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other www Advokátska kancelária Ecker-Kán & Partners, s.r.o. l l l l l www.ecker-kan.sk Representing crude oil pipeline com- Representing Slovak Telekom in one of Representing construction companies Representing Slovak banks in a group Bankruptcy proceedings of Slovak pany TRANSPETROL, a.s. in a group its largest competition law disputes. in the largest cartel agreement case of approx. €590 mil. FOREX trading bank DEVÍN BANKA, a.s. of 100+ lawsuits challenging state's in Slovakia. lawsuits. Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other Buy side Selling side Government Creditor/Borrower Other ownership of its shares. Advokátska kancelária Ecker-Kán & Partners, s.r.o. l l l l l l Advokátska kancelária RELEVANS s.r.o. l l l l l www.ecker-kan.sk Representing foreign investor in Advising major international Representing private client in approx. Representing Slovak Telekom in Representing National Property Fund www.relevans.sk Providing comprehensive legal Providing comprehensive legal services Representing state cargo companies Representing the plaintiff against the Legal advisory to the seller (cargo approx €1.1 bn property dispute. investment group in approx. €400 €235 mil. international arbitration approx. €110 mil. damages lawsuit. in approx. €65 mil. damages lawsuit. services to a financial holding com- to the buyer on the acquisition of the ZSSK Cargo, Inc. and Railway Com- Slovak Republic in a dispute over company) related to the preparation mil. lawsuit. (VIAC) dispute. pany regarding the entry of foreign multifunctional property Eurovea in pany Slovakia, Inc., as defendants in a damages of more than €30 mil. due to of contractual documentation relating investors to the holding company Bratislava. dispute for compensation of damages profit payments restrictions to share- to the sale of its rolling stock of freight Advokátska kancelária RELEVANS s.r.o. l l l l l and increasing the share of foreign of more than €82 mil. holders of private health insurance carriages to a successful tenderer. investors in the financial holding. companies (the bankrupt European www.relevans.sk Advising the debtor in connection with Providing comprehensive legal services Providing comprehensive legal servi- Representing the plaintiff against the Providing comprehensive legal advice health insurance). the refinancing of multifunctional com- to the Slovak investment fund on the ces to the buyer on the acquisition of city of Bratislava, relating to the de- to arranger in connection with the plex Eurovea, the largest real estate acquisition of BENESTRA, the leading full ownership of DoubleTree by Hilton molition of buildings PKO, a claim for issuance of bonds with a transaction Allen & Overy Bratislava, s.r.o. l l l l l loan on the Slovak market in 2016. telecom provider. in Košice. damages and for unjust enrichment. volume of €135 mil. www.allenovery.com ENEL on the sale of its 66 % stake Infracapital, one of the largest Euro- Západoslovenská energetika, a.s. An international arbitral institution as Slovenské elektrárne, a.s. on the in Slovenské elektrárne to EPH and pean infrastructure investment funds, (E.ON Group), the largest electricity defendant in a €1.5 bn claim for da- completion of Mochovce Nuclear creating a temporary joint venture on the acquisition of the Slovak utility distributor in Slovakia, on the mages initiated by a Slovak company Power Plant. with EPH. group GGE. establishment of its inaugural before Slovak courts. Allen & Overy Bratislava, s.r.o. l l l l l €1 bn EMTN programme and www.allenovery.com ENEL on the sale of its 66% stake Slovenské elektrárne, a.s. in a dispute Global retailer during a dawn raid Consortium in connection with D4 / Deutsche Bank on Romanian loan inaugural issue under it. in Slovenské elektrárne to EPH and with the Slovak Government regarding carried out by the Slovak competition R7 motorway project (bypass of Brati- portfolio financing. Havel, Holásek & Partners s.r.o., advokátska l l l l l creating a temporary joint venture the Gabčíkovo Hydropower Plant. authority and in ensuing proceedings slava) in the amount of €1.4 bn. kancelária with EPH. before the competition authority. www.havelholasek.cz Comprehensive legal advice to ČSOB Comprehensive legal advice to Ahold Comprehensive legal advice to the Comprehensive legal advice to a major Comprehensive legal advice to Ribera Group in connection with the acquisition its exit from the Slovak market. Slovak Government in connection with heat generation concern in connection Salud Grupo-Analysis relating to a Havel, Holásek & Partners s.r.o., advokátska l l l l l on of VB Leasing. the sale of shares in Slovenské elek- with the entry of a strategic investor "transfer of an enterpise" and transfer kancelária trárne, a.s. by ENEL Produzione S.p.a. with regard to the efficient tax and of rights and obligations under em- to ENERGETICKÝ A PRŮMYSLOVÝ legal cross-border reorganisation of ployment relationships in connection www.havelholasek.cz Comprehensive legal advice to ČSOB Comprehensive legal advice to a major Comprehensive legal advice to the Comprehensive legal advice to Ribera Comprehensive legal advice to the HOLDING, a.s. the company worth tens of millions with a major PPP project to build and Group in connection with the acquisiti- heat generation concern in connection Slovak Government in connection Salud, S.A. on a possibility to build MoE in connection with the sale of euros. operate a new University Hospital on of VB Leasing. with the entry of a strategic investor with the sale of shares in Slovenské and operate a new University Hospital of a part of an enterprise between in Bratislava. worth tens of millions of euros. elektrárne, a.s. in the form of a PPP project. subsidiaries and post-transaction settlement. Kinstellar, s.r.o. l l l l l www.kinstellar.com Advising on privatisation of SPP Advising Cerner Corporation, a leading Advising Arcapita Bank on its €240 VINCI CONCESSIONS and MERIDIAM Advising Ballymore Properties Limited (Slovak gas company), one of the global supplier of healthcare technolo- mil. acquisition of the real estate INFRASTRUCTURE on the €1.24 bn on the sale of their retail, office, hotel Kinstellar, s.r.o. l l l l l largest ever transactions in the history gies, on the USD1.3 bn acquisition of portfolio and asset management ope- refinancing of the Slovak Republic’s and residential property EUROVEA in www.kinstellar.com Sberbank Europe AG on the sale of Unilever Group on an internal reorga- TATRA BANKA and a syndicate of E.ON in connection with the restructu- Advising Porsche AG on the acqui- of Slovakia, valued at USD2.7 bn. Siemens Health Services. rations of Pinnacle Central & Eastern first PPP project, the R1 Expressway, Bratislava to Trenesma Limited. 99.5 % stake in its Slovak subsidiary, nisation aiming to separate a particular Slovak banks on a secured financing to ring of its Slovak operations, as part of sition of KUKA Enco Werkzeugbau Europe. through the issue of bonds listed on Sberbank Slovensko, a.s. line of their business from the rest of Tatravagónka. E.ON’s group level reorganisation stra- in Slovakia. the Luxembourg Stock Exchange by its operations. tegy (formation of UNIPER group). the concessionaire, Granvia.

PRK Partners s.r.o. l l l l l l l PRK Partners s.r.o. l l l l l www.prkpartners.com Providing complex legal advice to Local legal advice to GDF Suez and Providing complex merger/control Offering Slovak legal advice to General legal assistance for Colas in www.prkpartners.com Providing complex legal advice to Legal advice regarding the issue of Representation of the Slovak subsidia- Legal advice to media company in co- Representation of major international the Consortium consisting of Cintra, E.on Ruhrgas in connection with the advice for HOLCIM in relation to a Sberbank, the largest bank in Russia, relation to negotiations with Slovenské the Consortium consisting of Cintra, emissions and possible consequences ry of the leading European insurance nnection with dispute with operators bank – in connection with the Slovak Macquire and Porr in relation to the divestment of their shareholding in planned transaction in Western and in connection with the practice of CEE elektrárne on the completion of the Macquire and Porr in relation to the arising thereof, including advice on subject in passive legal proceedings. due to unauthorised dissemination legal aspects of an acquisition of a PPP D4/R7 Project. Slovenský plynárenský priemysel, a.s. Central Europe. operations by Volksbank. nuclear power plant Mochovce. PPP D4/R7 Project. competition aspects. of programme services to media portfolio of bank loans. company in Slovakia. Ružička Csekes s.r.o. l l l l l www.rc-cms.sk Advised Slovak government on 3 Advised JESS, a.s. on the development Advised National Motorway Company Advised U.S. Steel on the esta- Advised E.ON Energie AG on the motorway PPP projects (total value of a new nuclear power plant worth on the development of an approxi- blishment of a joint-venture with the acquisition of 49 % of shares in Ružička Csekes s.r.o. l l l l l over €10 bn). The R1 project was the €4 to 6 bn. mately €1 bn electronic toll collection largest Slovak steel producer – VSŽ Západoslovenská energetika, a.s. in www.rc-cms.sk Advised the Slovak Ministry of Health Advised the consortium of Hochtief, Advised Slovenská Sporiteľňa as Advised a leading global car producer Advised BAUMAX AG on the sale of its 1st PPP project that reached financial system in Slovakia. a.s. Košice with a share capital of the process of privatisation. on the development of a new universi- Iridium & DIF on participation in a a financing bank in relation to re- on its major investment in Slovakia. activities in Slovakia incl. share sales, closure and received the Project Fi- USD130 mil., on privatisation and ty hospital in Bratislava. €4 bn DBFOT PPP tender for almost -acquisition and re-development of the ongoing business transfer, employees, nance Int. Europe Infrastructure Deal investment contract negotiations with 60 km of motorways near Bratislava Apollo I project. real estate, etc. Award in 2009. the Slovak Government. (D4/R7). Škubla & Partneri s. r. o. l l l l l www.skubla.sk Representing a client in an interna- Representing a Slovak financial Legal counselling, legal due diligence, Acquisition of Sberbank – leading Fully fledged assistance regarding Škubla & Partneri s. r. o. l l l l l tional arbitration case against the institution in a case regarding financial representing client and participation legal advisor of purchaser in one the acquisition of the leading Slovak Slovak Republic in connection with derivates valued at over €100 mil. in on complete contractual and following of the largest acquisitions of 2015. media houses Plus 7 dní, Trend and www.skubla.sk Representation in two proceedings Comprehensive legal advice regarding Acquisition of Sberbank - complex Representation in a case of notifica- Legal advice regarding taxpayers´ investment protection and damage court and arbitration proceedings and legal documentation in connection Legal advise incl. competetive binding of a 45 % stake in media house Petit over the payment of fees for energy the development project incl. legal advise incl. binding bid, DD, SPA tion of concentration to the Slovak claims over late payment interest on compensation claim worth over €500 connected complex legal counselling with acquisition of a Slovak bank bid, due diligence, SPA negotiation, Press including subsequent corporate supplies. Execution proceedings on syndicated financing of construction negotiation, representation before Antitrust Office based on joint control excessive VAT deductions. mil. and representing in connected for the major shareholder of this (Dexia), incl. legal counselling after representation before National Bank restructuring and merger clearance. the recovery of a monetary claim. of shopping & entertainment center National Bank and Antitrust Office. together with other shareholder. national cases and proceedings. institution. the takeover. and Antitrust Office. Bory Mall. SOUKENÍK – ŠTRPKA, s. r. o. l l l l l www.akss.sk Representation of client before the Advising client in connection with Provision of legal advice to client with Provision of legal advice with regards Advising client in connection with SOUKENÍK – ŠTRPKA, s. r. o. l l l l l l Antimonopoly Office of the Slovak Re- settlement of property and legal issues regards to the construction of small to action for annulment of a decision development of a new centre of www.akss.sk Advising VODOHOSPODÁRSKA Advising Slovenská elektrizačná preno- Advising the client on the sale of large Advising Tepláreň Košice, a.s. on a Advising ESIN group, a.s. in connec- public in case of alleged breach of the relating to the hydroelectric power hydroelectric power plant Sačukov. of the Office for Public Procurement Tatranská Lomnica - development of VÝSTAVBA on the settlement of sová sústava, a.s. on a €95 mil. finance retail centre to a foreign real estate €78.4 mil. investment loan facility for tion with the development of a new competition law (business company plant Gabčíkovo-Nagymaros. and action for the annulment of a con- hotel/retail/parking premises. property/legal issues relating to the contract with EIB for modernising the fund (value €89.5 mil.). the construction of gas desulphurisati- centre of Tatranská Lomnica (hotel/ operating in retail). tract awarded in public procurement hydroelectric power plant Gabčíkovo- electricity network. on equipment. retail/parking premises) €20 mil. procedure. -Nagymaros (€146 mil.) White & Case s.r.o. l l l l l www.whitecase.com Representation of the Slovak Ministry PSA Peugeot Citroen - €700 mil. Represented ČSOB, SLSP and Representation of EPH on the acquisi- Represented a group of banks in of Transport on the 1,7 billion PPP investment in its new manufacturing Société Générale, acting as joint lead tion of 66 % of the shares of Slovenské connection with the financing of White & Case s.r.o. l l l l l l construction of the Bratislava D4 car plant in Trnava. managers, in connection with Slovak elektrárne. the acquisition of Telefonica Czech www.whitecase.com Representation of EPH on the acquisi- Representation of the Slovak Ministry Representation of JP Morgan and Citi Representation of the Slovak Ministry Representation of P3 Logistic Parks in bypass and the R7 expressway. Republic’s issuance of its €1.5 bn Republic, major mobile operator in the tion of 66 % of the shares of Slovenské of Economy and MH Invest in connection the €900 mil. dual-track IPO/direct of Transport on the €1.7 bn PPP con- connection with €1.4 bn. long-term 4.375% notes due in 2027. Czech Republic and Slovakia, by PPF elektrárne. on with €1.5 bn investment by strategic sale of a stake in Slovak Telekom. struction of the Bratislava D4 bypass refinancing process agreed with a Group, with total financing amounting investor Jaguar Land Rover. and the R7 expressway. group of international institutions. to €2.288 bn. 42 international law firms slovak law firms 43

An international law firm has headquarters outside of Slovakia or is in association with / integrated into an international group (network) of law firms that helps in a significant way to apply systems and processes. A Slovak law firm has headquarters in Slovakia and is not in association with / integrated into an international group (network) of law firms that helps in a significant way to apply systems and processes.

Five areas, which account for the greatest proportion of the law firm's Other Five areas, which account for the greatest proportion of the law firm's Other business in 2016 / Päť oblasti, ktoré v agende právnickej firmy mali services / business in 2016 / Päť oblasti, ktoré v agende právnickej firmy mali services / v roku 2016 najväčší podiel Ostatné

v roku 2016 najväčší podiel Ostatné služby služby

Názov (v abecednom poradí)

Adresa www Riaditeľ

Názov (v abecednom poradí) Mesto PSČ Telefón Telefón Adresa www Riaditeľ E-mail Fax E-mail Mesto PSČ Telefón Telefón Three sectors, in which E-mail Fax E-mail Company (Listed alphabetically) your law firm has the most Three sectors, in which Address www Chief executive officer clients / Tri sektory, z ktorých Company (Listed alphabetically) your law firm has the most City, Postal code Phone Phone má vaša kancelária najviac Živ. prostredie / Dane Due diligence prostredie Živ. law Criminal / Sports / Family / Športové / Rodinné právo Trestné Address www Chief executive officer clients / Tri sektory, z ktorých E-mail Fax E-mail besides (lawyers attorneys) in 2015/ of establish./ No. lawyers Year Languages 2015 / (počet bez právnikov advokátov) v r. právnikov Rok založenia / Počet Jazyky in 2015 / No. of attorneys No. of attorneys in SR (no. foreign) advokátov v SR (zahraničných) in SR / Poč. worldwide / No. of branches 2015 / poč. advokátov vo svete / poč. pobočiekv r. v SR klientov Establishment M&A Litigation & arbitration law Bankruptcy law & commercial Contractual Competition Intellectual property Labour law & PPP projects Public procurement law & regulation Administrative relations Credit Securities & transactions Other Due diligence / Tax/ Environment City, Postal code Phone Phone má vaša kancelária najviac 1 Advokátska kancelária RELEVANS s.r.o. Alexander Kadela premium listing Živ. prostredie / Dane Due diligence prostredie Živ. law Criminal / Sports / Family / Športové / Rodinné právo Trestné E-mail Fax E-mail besides (lawyers attorneys) in 2015/ of establish./ No. lawyers Year Languages 2015 / (počet bez právnikov advokátov) v r. právnikov Rok založenia / Počet Jazyky in 2015 / No. of attorneys No. of attorneys in SR (no. foreign) 2015 v r. advokátov v SR (zahraničných) in SR / Poč. worldwide / No. of branches / poč. advokátov vo svete / poč. pobočiek v SR klientov Establishment M&A Litigation & arbitration law Bankruptcy law & commercial Contractual Competition Intellectual property Labour law & PPP projects Public procurement law & regulation Administrative relations Credit Securities & transactions Other Due diligence / Tax/ Environment 1 Giese & Partner, s.r.o. - organizačná zložka Slavomír Čauder premium listing Dvořákovo nábrežie 8A www.relevans.sk +421(0)917 803-736 2011 17 (0) real estate, banking & no no Bratislava - Staré Mesto +421(0)2 3235-4602 [email protected] 26 (9) 17 finance, trade no no Lazaretská 12 www.giese.sk +421(0)2 2051-0110 2009 6 (2) real estate, banking & no no l l l l l Bratislava - Staré Mesto +421(0)2 2051-0110 [email protected] 7 (NA) NA finance, insolvency & no no 811 02 +421(0)2 5941-8115 E, 1 yes no 811 08 +421(0)2 2051-0199 E, F, G, R, 1 restructuring l l l l l yes no [email protected] [email protected] 2 Bartošík Šváby s.r.o. Peter Bartošík, Boris Šváby premium listing 2 PRK Partners s.r.o. Martin Kříž premium listing Plynárenská 7/A www.bartosiksvaby.sk +421(0)2 5244-2181 2005 11 (0) real estate, banking & yes no Bratislava - Ružinov +421(0)2 5244-2181 [email protected] 20 (9) 11 finance, industry no no Hurbanovo námestie 3 www.prkpartners.com +421(0)2 3233-3232 2006 12 (2) banking & finance, no no l l l l l E, F, G, 1 Bratislava - Staré Mesto +421(0)2 3233-3232 [email protected] 20 (8) NA energy, trade yes no 821 09 +421(0)2 5244-2182 [email protected] yes yes [email protected] 811 06 +421(0)2 3233-3222 E, F, G, R, 1 l l l l l yes no [email protected] 3 BEATOW PARTNERS s. r. o. Peter Mikletič, Branislav Brocko premium listing Panenská 23 www.beatow.com +421(0)2 5273-1235 2010 6 (0) real estate, banking & yes no Bratislava - Staré Mesto +421(0)2 5273-1235 [email protected] 9 (3) 6 finance, health care yes no 3 Allen & Overy Bratislava, s.r.o. Martin Magál l l l l l Eurovea Central 1, Pribinova 4 www.allenovery.com +421(0)2 5920-2400 1999 17 (2) real estate, banking & yes no 811 03 +421(0)2 5273-3329 [email protected] E, F, G, R, 1 yes yes Bratislava - Staré Mesto 811 09 +421(0)2 5920-2400 [email protected] 22 (5) NA finance, energy l l l l l no no [email protected] [email protected] +421(0)2 5920-2424 E, F, G, R, 1 yes no 4 Ružička Csekes s.r.o. Jaroslav Ružička, Erika Csekes premium listing 4 bnt attorneys-at-law Margareta Sovova Vysoká 2/B www.rc-cms.sk +421(0)2 3233-3441 2009 34 (2) real estate, energy, public yes yes Bratislava - Staré Mesto +421(0)2 3233-3444 [email protected] 34 (0) NA administration yes yes Cintorínska 7 www.bnt.eu +421(0)2 5788-0088 2004 12 (2) real estate, banking yes no l l l l l Bratislava - Staré Mesto 811 08 +421(0)2 5788-0088 [email protected] 17 (5) 50+ & finance, industry, l l l l l yes no 811 06 +421(0)2 3233-3443 [email protected] E, F, H, G, R, 1 yes yes [email protected] +421(0)2 5788-0089 E, G, 1 health care yes no [email protected] 5 Deloitte Legal s. r. o., advokátska kancelária Miroslava Terem Greštiaková 5 Advokátska kancelária agner & partners, s.r.o. Vojtech Agner Digital Park II, Einsteinova 23 www.deloittelegal.sk, www.deloitte.sk +421(0)2 5824-9111 2010 10 (3) real estate, banking & yes no Špitálska 10 www.agnerpartners.sk +421(0)2 5296-1089 2007 14 (0) industry, trade, transport no no Bratislava - Petržalka 851 01 +421(0)2 5824-9111 [email protected] 20 (10) 1700 finance, trade l l l l l yes no Bratislava - Staré Mesto 811 08 +421(0)2 5296-1089 [email protected] 25 (11) 14 & logistics no no l l l l l [email protected] E, K, G, 3 yes yes [email protected] +421(0)2 5296-3577 E, 6 no yes 6 Dentons Europe CS LLP, organizačná zložka Peter Kubina Štefánikova 15 www.dentons.com +421(0)2 2066-0223 1996 11 (1) real estate, banking & no no 6 Advokátska kancelária Ecker-Kán & Partners, s.r.o. Matej Kán Bratislava - Staré Mesto 811 05 +421(0)2 2066-0111 [email protected] 15 (4) 7900 finance, trade yes no l l l l l Nám. M. Benku 9/C1 www.ecker-kan.sk +421(0)2 5020-2911 1990 17 (0) banking & finance, public no no [email protected] +421(0)2 2066-0999 E, F, H, G, 1 yes no Bratislava - Staré Mesto 811 07 +421(0)2 5020-2911 [email protected] 26 (9) 17 administration, trade l l l l l yes no R, Pl, [email protected] +421(0)2 5020-2914 E, F, G, R, 1 yes no 7 Havel, Holásek & Partners s.r.o., advokátska kancelária Jaroslav Havel 7 CLS Čavojský & Partners, s.r.o. Peter Čavojský Mlynské nivy 49, Block H www.havelholasek.cz +421(0)2 3211-3900 2008 16 (4) real estate, industry, trade no no Zochova 6-8 www.clscp.sk +421(0)2 5564-3365 2006 7 (0) banking & finance, no no Bratislava - Ružinov 821 09 +421(0)2 3211-3900 [email protected] 31 (15) 180 yes yes l l l l l Bratislava - Staré Mesto 811 03 +421(0)2 5564-3365 [email protected] 13 (6) 7 energy, industry l l l l l no no [email protected] +421(0)2 3211-3901 E, F, H, G, R, 1 yes yes [email protected] +421(0)2 5564-3361 E, Cr, F, G, S, 2 yes no Pl, I, S, 8 Kinstellar, s.r.o. Patrik Bolf 8 ČECHOVÁ & PARTNERS s. r. o. Tomáš Rybár Hviezdoslavovo nám. 13 www.kinstellar.com +421(0)2 5929-1111 2000 10 (2) real estate, banking & yes no Štúrova 4 www.cechova.sk +421(0)2 5441-4441 1990 10 (0) industry, health care, no no Bratislava - Staré Mesto 811 02 +421(0)2 5929-1111 [email protected] 17 (7) 130 finance, trade l l l l l yes no Bratislava - Staré Mesto 811 02 +421(0)2 5441-4441 [email protected] 16 (6) 10 trade l l l l l no no [email protected] +421(0)2 5929-1210 E, F, H, G, R, 1 yes no [email protected] +421(0)2 5443-4598 E, F, G, R, 1 yes no 9 Noerr s.r.o. Pavol Rak 9 Hamala Kluch Víglaský s.r.o. Roman Hamala, Martin Kluch, Peter Víglaský Palisády 29/A www.noerr.com +421(0)2 5910-1010 2004 7 (3) real estate, industry, trade no no Poštová 3 www.hkv.sk +421(0)2 5441-0160 2006 7 (0) real estate, banking & yes no Bratislava - Staré Mesto 811 06 +421(0)2 5910-1010 [email protected] 11 (4) 500+ l l l l l no no Bratislava - Staré Mesto 811 06 +421(0)2 5441-0160 [email protected] 14 (7) 7 finance, other l l l l l yes yes [email protected] +421(0)2 5910-1011 E, G, 1 yes no [email protected] +421(0)2 5441-0761 E, F, G, R, 1 yes no PETERKA & PARTNERS advokátska kancelária s.r.o. 10 Ján Makara, Andrea Butašová organizačná zložka 10 Krivak & Co, s.r.o. Martin Krivák Kapitulská 18/A www.peterkapartners.com +421(0)2 5441-8700 2001 13 (0) real estate, banking & yes no Gajova 13 www.krivak.sk +421(0)2 5710-0411 1996 6 (0) banking & finance, no no Bratislava - Staré Mesto 811 01 +421(0)2 5441-8700 [email protected]; 18 (5) 150 finance, industry yes yes l l l l l Bratislava - Staré Mesto 810 00 +421(0)2 5710-0411 [email protected] 6 (6) 6 energy, trade l l l l l no no [email protected]; makara@ +421(0)2 5441-8701 [email protected] E, Bul, F, D, H, 1 yes no [email protected] +421(0)2 5410-0410 E, 1 yes yes peterkapartners.sk G, R, Pl, S, 11 Rödl & Partner Advokáti, s. r. o. Maroš Tóth 11 NOVICKÝ advokátska kancelária s.r.o. Jaroslav Novický Lazaretská 8 www.roedl.com/sk +421(0)2 5720-0410 2001 9 (1) real estate, energy, yes no Františkánska 5 www.aknovicky.cz +421(0)907 880-086 2009 2 (0) real estate, banking & no no Bratislava - Staré Mesto 811 08 +421(0)2 5720-0444 [email protected] 12 (3) 422 industry l l l l l yes no Košice - Staré Mesto 040 01 +421(0)55 727-5225 [email protected] 4 (2) 2 finance, industry l l l l l no no [email protected] +421(0)2 5273-3643 E, G, R, 1 yes yes [email protected] +421(0)55 727-5113 E, 1 yes yes 12 Schönherr Rechtsanwälte GmbH, organizačná zložka Stanislav Kovár 12 Paul Q, s.r.o. Pavol Blahušiak Prievozská 4/A (Apollo II) www.schoenherr.eu +421(0)2 5710-0701 2009 7 (3) real estate, banking & yes no Karadžičova 2, Twin City, Block A www.paulqlaw.com +421(0)2 5828-2802 1991 8 (0) real estate, IT, trade yes no Bratislava - Ružinov 821 09 +421(0)2 5710-0701 [email protected] 9 (2) 308 finance, trade l l l l l no no Bratislava - Staré Mesto 811 09 +421(0)2 5828-2828 [email protected] 15 (7) 8 l l l l l yes no [email protected] +421(0)2 5710-0702 E, G, 1 yes no [email protected] +421(0)2 5828-2829 E, G, 1 yes no 13 Squire Patton Boggs s.r.o. Tatiana Prokopová 13 SOUKENÍK – ŠTRPKA, s. r. o. David Soukeník, Peter Štrpka, Miroslav Hlivák Zochova 5 www.squirepattonboggs.com +421(0)2 5930-3411 1991 6 (0) real estate, banking & yes no Šoltésovej 14 www.akss.sk +421(0)2 3220-2111 2003 23 (0) real estate, energy, trade yes no Bratislava - Staré Mesto 811 03 +421(0)2 5930-3411 tatiana.prokopova@squirepb. 9 (3) 1500 finance, trade no yes l l l l l Bratislava - Staré Mesto 811 08 +421(0)2 3220-2111 [email protected] 53 (30) 23 l l l l l yes yes [email protected] +421(0)2 5930-3415 com E, F, G, R, 1 yes yes [email protected] +421(0)2 3220-2110 E, H, G, 5 yes yes 14 Škubla & Partneri s. r. o. Martin Škubla 14 TaylorWessing e/n/w/c advokáti s. r. o. Andrej Leontiev Panenská 6 www.taylorwessing.com +421(0)910 966-262 2004 13 (2) real estate, IT, industry yes no Digital Park II, Einsteinova 25 www.skubla.sk +421(0)2 5778-8800 2002 15 (0) real estate, banking & yes yes Bratislava - Staré Mesto 811 03 +421(0)2 5263-2804 [email protected] 23 (10) 1200 l l l l l no no Bratislava - Petržalka 851 01 +421(0)2 5778-8800 [email protected] 22 (7) 15 finance, health care l l l l l yes no [email protected] +421(0)2 5263-2677 E, G, 1 yes no [email protected] +421(0)2 5778-8055 E, F, G, 1 yes no 15 White & Case s.r.o. Marek Staroň 15 Valko Marián & partners, s.r.o. Marián Valko Hlavné námestie 5 www.whitecase.com +421(0)2 5441-5100 1997 12 (1) banking & finance, no no Porubského 2 www.mvalko.sk +421(0)2 3231-3820 1991 7 (0) real estate, banking & yes no Bratislava - Staré Mesto 811 01 +421(0)2 5441-5100 [email protected] 17 (5) NA energy, industry l l l l l yes no Bratislava - Staré Mesto 811 06 +421(0)2 3231-3820 [email protected] 11 (4) 7 finance, trade l l l l l yes yes [email protected] +421(0)2 5441-6100 E, F, G, R, S, 1 yes no [email protected] +421(0)2 5441-1141 E, F, G, 1 yes yes NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team 44 Economy & business environment Economy & business environment 45

example via investments in the automotive further tightening of the labour market, which is all deliver a tax bonanza. The state will receive and energy sectors. The key is investment by about to approach a full employment scenario. this year €590 million more in tax revenues than Slovak economy should uphold Jaguar Land Rover (JLR), which alone has the it expected a year ago. A positive budget revenue potential to boost GDP cumulatively by 2.5 Expect some labour market woes scenario is also in cards for 2017. In fact, the percentage points by 2020. In 2017, the positive Yet there is a flip side to such a scenario. overall public sector is now counting on a tax positive trends in 2017 contribution of JLR will be delivered through Already some companies, especially in manu- intake of €2.3 billion (equivalent to 3.6 percent solid growth that Slovakia the construction of the factory in Nitra, while facturing, complain of a lack of available skilled of GDP) higher than the Ministry of Finance has been experiencing for the the actual production of cars will begin to boost workers. Also in other sectors, for example IT, had predicted back in 2014. Moreover, on the past two years should con- GDP as of 2018. demand for professionals now exceeds supply, spending front, the state enjoys the benefits of Thetinue in 2017, at the rate of 3-4 percent in real leading to remuneration issues. As the labour the decreasing costs of debt service, as interest terms. Growth drivers should be broadly bal- GDP growth projections, including the impact of market tightens, such issues will become more rates plunge; simultaneously it saves on social anced between domestic and external demand. Jaguar Land Rover (% y/y in real terms) prevalent, pushing up wage costs for some insurance costs as the number of unemployed 4.0 The automotive industry should remain the with JLR companies and curtailing expansion plans for shrinks faster than was foreseen. without JLR 3.6 key sector, amplified by the Jaguar Land Rover 3.8 others. Most of this fiscal leeway will be spent. 3.6 investment in Nitra Region. The Slovak labour 3.6 Wage growth will potentially be boosted Indeed, the projected public finance deficit 3.5 market is about to approach a full employment 3.4 by the return of inflation to positive territory. in 2017 will increase, not decrease relative to 3.4 3.3 scenario and see growing pressure on wages. This 3.4 To be sure, such a scenario has been on the earlier plans. To be sure, the headline deficit 3.2 Source: ŠÚ SR, VÚB will have a two-sided impact on the economy 3.2 3.2 table for the past two years, but has failed to is planned to decrease, to 1.3 percent of HDP

3.0 – supporting private consumption and service 3.0 materialise. This time, however, it appears to from 2.1 percent expected in 2016. Earlier sectors on the one hand, but tempering corpo- 2.8 be different, as global oil prices are no longer plans, however, saw the deficit in 2017 shrink to rate investment because of a prospective lack of 2015 2016F 2017F 2018F 2019F falling and the turnaround also manifests in the just 0.5 percent of GDP. Moreover, the decrease skilled labour force on the other. Wage growth Meanwhile, the construction sector should prices of other global commodities, including in the budget deficit now foreseen in 2017 is also will be boosted by the return of inflation to continue to benefit from the continuing residen- food. mainly delivered at the expense of big compa- positive territory. tial property boom as demand for housing looks nies, for example, in the banking, insurance, and set to remain strong – supported by low interest Fiscal leeway spent, tax hikes to cover the gap regulated energy sectors, which will pay higher Where we stand rates and the wide availability of housing loans. On the fiscal front, fast economic growth, special levies than previously envisaged.

The Slovak economy grew in the first half VW Source: At the same time we expect that household con- growing employment, and more effective tax By Zdenko Štefanides, chief economist with of 2016 by 3.6 percent year-on-year, matching prices continue rising. Spurred by historically sumption will continue to recover along with the administration (especially closing the VAT-gap) VÚB bank the previous year’s growth pace. This was a better Unemployment rate: Slovakia vs Eurozone (ILO low interest rates and aggressive mortgage refi- than expected outcome, which counted on pay- methodology, seasonally adjusted) nancing campaigns by local banks, in mid-2016, 18 Eurozone Basic statistical data - Slovakia & the European Union back from an EU-funded infrastructure boom Slovakia demand for residential property pushed prices and thus some growth moderation. To be sure, 16 up at a pace reminiscent of the boom in 2007. Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary Population 1.1.2016 (mil.) 339.70 510.06 82.16 5.43 37.97 10.55 9.83 payback in public investment after the 2015 14 While earlier on, property price growth was GDP Percentage change 2014 / 2015 2% 2.2% 1.7% 3.8% 3.9% 4.5% 3.1% frenzy associated with the last-minute utilisation primarily comprised of flats in Bratislava and 12 Unemployment (%) in September 2016, seasonally adjusted 10% 8.5% 4.1% 9.4% 5.7% 4% 5% of EU funds from the previous programming bigger towns, by now it has spread across all Annual inflation (%) in September 2016 0.4% 0.4% 0.5% -0.5% -0.2% 0.5% 0.7% period did materialise. Private investment and 10 Source: Eurostat, VÚB regions, now encompassing also family houses. source: Eurostat exports, however, compensated for the predict- 8 Responding to the increased demand for hous- GDP - Slovakia & the European Union able EU-funded boom-bust cycle. A major and ing, supply has also increased. The number of Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary 6 GDP per capita 2015 (€) 30,600 28,700 37,200 14,400 11,300 15,500 11,000 long-awaited surprise, nonetheless, came from 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 flats under construction is now the highest since private consumption, which has left a stronger the communist era. GDP per inhabitant in PPS, 2014, EU 28 = 100% 107% 100% 124% 76% 68% 84% 68% Tale of two price trends GDP per inhabitant in PPS, 2015, EU 28 = 100% 106% 100% 125% 77% 69% 85% 68% than usual footprint in local retail stores and in source: Eurostat, World Bank, exchange rate USD/EUR used was the average of 2015 the second quarter posted the fastest year-on- With the ongoing tightening of the labour Where we are heading year gain in the past seven years. market, wages began to increase a bit, rising The Slovak economy should also continue to Public finances & taxes - Slovakia & the European Union Indeed, in the past few years, the slow recov- nominally 3 percent over a year ago in the first enjoy strong growth momentum in 2017, with Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary Government deficit in 2015 (%) -2.1% -2.4% 0.7% -2.7% -2.6% -0.6% -1.6% ery of private consumption has been the weak half of 2016. Their rise, however, would prob- real GDP growth of around 3.5 percent. Both Government debt in 2015 (% of GDP) 90.4% 85% 71.2% 52.5% 51.1% 40.3% 74.7% link of most forecasts, which assumed that par- ably have been higher if not for deflation in domestic and foreign demand should contrib- Total general government revenue 2015 (% of GDP) 46.5% 44.9% 44.7% 42.9% 38.9% 41.3% 48.5% ticipating in the improving labour market would consumer prices – a phenomenon in the Slovak ute positively to this development. Regarding Top statutory personal income tax rate, % - - 47.5% 25% 32% 15% 16% make households not only more able, but also economy now for the third year. foreign demand, however, uncertainty remains. Corporate income tax rate, % - - 30.2% 22% 19% 19% 19% more willing to spend. Instead, households used Indeed, in the mirror image of the slow Brexit is of particular importance, especially as * arithmetic average (all members) source: Eurostat, OECD additional income for savings or investments in recovery in private consumption, consumer it may impact growth of Slovakia’s main trading Labour Market - Slovakia & the European Union (Based on Labour Force Survey) Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary housing rather than consumption. The turning prices in the past two years have also defied the partners in the eurozone, and their appetite for Employment rate 2015 (%) * 69.0% 70.1% 78% 67.7% 67.8% 74.8% 68.9% point, nonetheless, appears to have finally ar- forecasts predicting a rise. While external cost- Slovak exports. For the time being, though, we Unemployment rate 2015 (%) 10.9% 9.4% 4.6% 11.5% 7.5% 5.1% 6.8% rived this year, during which the labour market driven factors (cheap oil, gas, food) and special see this impact as limited and project positive Long-term unemployment rate 2015 (%) 5.5% 4.5% 2% 7.6% 3% 2.4% 3.1% Labour productivity in 2015 per person employed surpassed several milestones: 1) the number of subsidies (rail fares) are mainly to blame for the contribution to GDP growth from net exports 107% 100% 106.5% 82.8% 74.3% 79.4% 69.8% (EU 28 = 100, based on PPS series) jobs in the economy rose to an all-time high; prolonged period of the declining consumer as Slovak-based companies gain market shares The hourly labour cost in the business economy in 2015 (€)** 29.5 25 32.2 10 8.6 9.9 7.5 2) the number of jobless declined to pre-crisis price index, domestic demand-driven pressures abroad. The hourly labour cost in the business economy in 2014 (€)** 29.2 24.6 31.4 9.7 8.4 9.4 7.3 Total nominal hourly labour cost in second quarter 2016 1% 1.4% 1.8% 1.2% 2.5% 3.2% 3% levels; 3) the unemployment rate declined below hitherto have remained surprisingly absent. Concerning domestic demand, the private % change compared with same quarter of previous year the eurozone’s, for the first time ever. In contrast to consumer prices, property sector should be the main growth driver, for * rate is calculated by dividing the number of persons aged 20-64 years in employment by the total population of the same age group , **estimation source: Eurostat 46 Economy & business environment Economy & business environment 47

building a greenfield factory in Sereď for €40.25 which is by 188 percent more than the previous planned by the end of 2018. The total cost may million. Also, the state should lend assistance it in year. Slovak Investment and Trade Development amount to €75.2 million. The building with Investment highlights the form of tax relief amounting to €1.9 million. Agency assisted in 19 successful investment capacity of 20,000 spectators will be surrounded n December 2015 altogether. The Slovak state owns the remaining a total of 438 new jobs in Slovakia by the end The China Energy Company Limited projects in the first half of 2016, up by 36 per- by commercial buildings, including shops, Prime Minister Robert Fico and representa- 34 percent. of 2019. The companies plan to invest together (CEFC) intends to increase its capital share in cent annually. These projects will directly create private flats and office space. Once the stadium tives of the British carmaker Jaguar Land Rover The foundation stone of a new assembly hall €17.66 million. the Czech-Slovak investment group J&T from more than 2,000 jobs, and thousands of others is completed, the state will purchase it from (JLR) signed an official investment agreement, where the Porsche Cayenne will be assembled The software company Global Logic less than 10 percent to 50 percent. Representa- indirectly. tycoon Ivan Kmotrík whose firm is in charge of confirming the investment at €1.4 billion for was laid at the Volkswagen plant in Bratislava. Slovakia announced it will create 200 new jobs tives of both companies have confirmed the deal the construction. Slovakia. The first cars should leave the plant The carmaker will invest €300 million in the in Košice and 100 in Žilina over the next two by inking a strategic partnership agreement. The n July 2016 US company Altra Industrial Motion will near Nitra in 2018. JLR plans to build 150,000- project and production is due to begin by the years. The company will develop special software investment is estimated at €980 million. CEFC Spanish company Gestamp will build a new build a new plant in Zlaté Moravce (Nitra 300,000 cars a year. It should employ 2,800 end of 2017. for carmakers, which they will deliver to the asked the National Bank of Slovakia to clear factory in the village of Lužianky near Nitra. Its Region) for €18 million. It may employ about people in the first phase, and later increase that Prysmian Group plans to expand its opera- Delphi company. its purchase of a 50 percent stake as the stake investment amounts to some €100 million and 500 people. to 3,900. The government will directly subsidise tion in the eastern Slovak town of Slatina and increase is subject to approval of competent will create 400 new jobs. The factory is to make A third company showed interest in buying the plant’s construction with €130 million. The build a new factory for telecom cables in Prešov. n FEBRUARY 2016 regulators in all countries where J&T Finance car components for automakers including Jaguar the Košice-based steel factory, U. S. Steel, the state will invest nearly €450 million into the The company plans to invest €48.6 million. Maccaferri Central Europe began trial Group operates. Land Rover. Chinese firm CEFC. Representatives of Russian industrial park where investment will be located, In 2015 the cabinet approved the stimuli operations in its largest European production The German firm Freudenberg IT decided Metalloinvest company, and an unspecified according to Denník N. The investment will for 16 companies, amounting to a total of €50 plant in Senica. The investment was planned to n APRIL 2016 to open its new subsidiary in Košice, planning Chinese company visited the Košice plant. The increase Slovak exports by more than 5 percent million. reach €6 million. The plant should employ 160 Every fourth foreign investor in Slovakia to create dozens of jobs by the end of 2016. It Americans could get up to $800 to 900 million in 2019 and 2020, according to the Financial More and more Slovaks work in shared people. plans to expand production and hire new peo- wants to create a total of 180 jobs in Košice. for the sale. In early 2013, they signed a memo- Policy Institute (IFP), a government think tank. service centres (SSCs) for foreign firms. There Tatry Mountain Resorts announced con- ple, according to a survey carried out by foreign Korean company Hyundam Slovakia will randum with the Slovak state in which they It also expects the new carmaker to strengthen are 48 SSCs in Slovakia and 83 percent of struction of a new cableway in Slovakia’s biggest chambers of commerce. build a new plant in Lietavská Lúčka (Žilina promised to stay and do business in the country; the GDP growth by aggregate 2.5 percent by them hired new staffers in 2015, according to a ski resort Jasná with total costs of €14 million. It IBM plans to double the capacity of its Region). It plans to hire 50 more people (apart the validity of the memo expires in 2018. 2020. The Japanese company Takenaka will survey conducted by personnel agency Grafton will begin operation in winter 2016. client innovation centre in Košice. The centre from 80 already employed) to produce 1.5 mil- Completion of the nuclear power plant in build the plant. Slovakia. The DIY store OBI opened 13 shops in employs experts in IT and was founded in 2007, lion fuel pumps a year. Mochove will be late. Even new deadlines for the French company Helske Ltd. confirmed its Slovakia, taking over the stores from Baumax, and has 200 employees, according to TASR. German company Etilog, based in Stam- two blocks, autumn 2017 and 2018, five years investment in Spišská Nová Ves. It will invest n JANUARY 2016 after it left the country. sried, wants to move its plant to Prešov. In after the original deadlines, may not be final. €14 million in the research and development It took Slovakia seven years to overcome the Unicorn Systems, which develops software n may 2016 the final phase, up to 500 people could find The budget of €4.6 billion will increase by an centre in the next three years and will employ crisis. Employment reached the pre-crisis level of solutions, opened a new development centre in Slovenské Pivovary Topvar brewery in Veľký jobs there. The company has begun training additional €500 million. 80 people. 2.4 million workers in 2015. Prešov. It will employ 80-120 IT experts. Šariš is for sale. SABMiller group that acquired employees. Etilog is a global technology leader Italian energy giant Enel agreed to sell a The Best Hotel Properties network, owned Korean investor Dongil Rubber Belt it in 2006 is selling off several beer brands in in the production of transport packaging for the n October 2016 portion of the Slovenské Elektrárne power by financial group J&T, sold two hotels: one in Slovakia will build a new plant in Považská central and eastern Europe due to the proposed automotive industry. Online bank ZUNO, part of the Raiffeisen producer to the Czech company Energetický the High Tatras and one in Bratislava. The buyer Bystrica (Trenčín Region), which will employ acquisition by AB InBev. group, is winding down its operation in Slova- a Průmyslový Holding. It sold the 33-percent is the Redside Fund established by Pavol Krúpa’s 150 people. Another 170 jobs may be created by n August 2016 kia. Its clients will be taken over by sister banks stake for €375 million. The remaining 33 per- financial group Arca Capital. The price of the suppliers. Total investment is €27 million and n June 2016 Chinese company Leyard Shenzhen Opto Tatra Banka. cent, which Enel will sell only after the third and transaction was €56 million. the plant should produce gaskets for cars. The first Chinese companies have launched Electronics, focusing on manufacturing giant Real estate developer HB Reavis sold Aupark fourth blocks of the Mochovce nuclear power The cabinet passed investment incentives for Provident Financial, one of the most their operations at Senec-based (Bratislava displays for stadiums or shopping centres, will Piešťany shopping centre to NEPI for €39.5 plant are completed, may be sold for the same two investors totaling €6.83 million. The com- important lending companies in Slovakia, has Region) D1 Expo-Business Centre with a total establish its only European production plant in million. sum. The Italians may thus receive €750 million panies IEE Sensing Slovakia and BcLoad plan announced it will no longer lend money in of some €10 million invested into the project by Prešov. After completing the second phase of Patrik Tkáč and other partners of J&T the country. It was discouraged from further Asian investors. The centre should also assist the construction the number of employees should group are leaving Energetický a Průmyslový operation in Slovakia by laws for protection of entry of Asian, predominantly Chinese, com- rise to 200. Holding (EPH) which owns stakes in the Slovak debtors. Provident dissolved a network of some panies and investors to the European market. It US businessman Erik Assimakopoulos sold gas transmitter Eustream, SPP Distribúcia and 800 agents through whom the firm provided consists of 80 administration-expo units with the Bratislava Radisson Blu Carlton Hotel to a stake in Slovenské Elektrárne. The sale of the loans and collected installments directly at 1,800 square metres of space. partners of the Eset IT company Rudolf Hrubý shares allows the founders of J&T to accumulate clients’ homes. Hengstler plans to move to new premises in and Maroš Grund for around €80 million. €3 billion in assets. Kežmarok (Prešov Region) in order to expand its The minimum wage in Slovakia is set to The construction of the Bratislava ring road, n MARCH 2016 production. The construction amounts to some increase from €405 to €435 a month as of year consisting of stretches of the D4 highway and Retail chain Lidl opened its third logistics €10 million and create 50 new jobs. 2017. the R7 dual carriageway, officially launched. A centre in Slovakia, in Sereď (Trnava Region). Trnava-based carmaker PSA Groupe Slo- German automotive supplier Brose will in- consortium led by the Spanish firm Cintra won It is one of the biggest and most ecological in vakia officially started searching for employees vest more than €50 million in Prievidza, creating the tender to design, build and operate the ring Europe. Investing €50 million, the centre will for the new, fourth working shift which will be 1,000 new jobs. It plans to produce window lift- road as a public private partnership (PPP) pro- offer nearly 200 new jobs. implemented during weekends. The company ers and rear doors. The company will also receive ject. Based on the contract, the entire project is Ružomberok-based paper mill Mondi SCP, plans to create up to 800 new jobs as of January state aid amounting to €12.5 million. It plans to be completed in October 2020. After 30 years co-owned by tycoon Milan Fiľo, will receive 2017 with the new model Citroën C3 set to to employ at first 180 people in 2016 and then of operating the road, it will then be transferred tax relief from the state, amounting to €48.8 be made exclusively in Trnava. From 2017, the gradually increase this number to 1,000 by 2019. under state ownership. With inflation taken into million. The company plans to invest a total of Trnava plant should produce some 360,000 cars account the ring road should cost around €1.76 €310 million into new technologies. annually. The 2015 output was 303,000. n September 2016 billion with annual instalments of €52.8 million. The biggest producer of sweets and con- Foreign companies agreed to investing €500 Construction work on the National Football fectionery in Slovakia, I.D.C. Holding started million in Slovakia in the first half of 2016, Stadium in Bratislava started, with completion Compiled by Spectator staff Source: Sme Source: 48 chambers of commerce consulting – management 49

Názov (v abecednom poradí) www Riaditeľ Adresa Telefón Telefón Mesto PSČ Fax E-mail E-mail

Company (Listed alphabetically)

Address www Chief executive officer

City, Postal code Phone Phone Annual membership fee Membership conditions Services and activities

E-mail Fax E-mail of establishment in Slovakia / Year # of members / Languages členov / Jazyky Rok založenia / Počet Ročný členský poplatok Podmienky pre členstvo Služby a aktivity 1 American Chamber of Commerce in the Slovak Republic Jake C. Slegers Názov (v abecednom poradí) Adresa www Riaditeľ Hodžovo námestie 2 - Hotel Crowne Plaza www.amcham.sk +421(0)2 5464-0534 1994 patron EUR4,000; corporate EUR2,300; AmCham's main pillars: information, networ- contacts; information; events; facilitation of Mesto PSČ Telefón Telefón Bratislava - Staré Mesto 811 06 +421(0)2 5464-0534 director@ 331 general EUR850; NGO/Individual EUR500 king and advocacy trade and investment opportunities E-mail Fax E-mail [email protected] +421(0)2 5464-0535 amcham.sk E, Company (Listed alphabetically) 2 Austrian - Slovak Chamber of Commerce Mária Berithová Address www Chief executive officer Kutlíková 17, P.O.BOX 228 www.sohk.sk +421(0)917 450-964 1996 depending on number of employees business entities, companies with Slovak and event organisation; seminars; business City, Postal code Phone Phone Other Major clients

Bratislava - Petržalka 814 99 +421(0)2 6353-6787 berithova@ 200 Austrian connections networking; contacts and information for E-mail Fax E-mail in of establishment in SR / No. branches Year SR (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR (Počet vo svete) / Jazyky krajín advisors No. of employees / Slovak Foreign poradcov slovenských / zahr. zamestnancov / Počet Počet Management consulting / Manažment Financial & tax consulting / Financie a dane poradenstvo Legal advice / Právne Human capital consulting / Ľudský kapitál Marketing & PR consulting / a IT consulting / Real estate consulting / Nehnuteľnosti Iné Hlavní klienti [email protected] +421(0)2 6353-6789 sohk.sk E, G, members; publication; meetings; lobbying 1 ASB Slovakia, s.r.o. Zuzana Kolárová 3 British Chamber of Commerce in the Slovak Republic Denisa Brighton Laurinská 18 www.asbgroup.eu +421(0)2 5464-1187 2006 10 accounting, payroll, company ad- real estate investors, international Bratislava - Staré Mesto 811 01 +421(0)2 5464-1187 zkolarova@ 1 / 3 8 ministration, property management retail chains, multinational corpo- Mostová 6 www.britcham.sk +421(0)2 3266-1941 1998 EUR590 - 1,330 depending on the number application complete, board approval, inte- services for SK / UK business to enter the l l l l Bratislava - Staré Mesto 811 02 +421(0)2 3266-1940 denisa.brighton@ 150 of employees rest in gaining UK and SK connections UK / SK market; business and social events; [email protected] asbgroup.eu E, G, NA and tax related services rations, energy companies, ICT [email protected] bsbc.sk E, partnership proposal; business promotion companies 4 Canadian Chamber of Commerce Joseph Burza 2 Centire s. r. o. Renáta Kiselicová Mariánska 12 www.Kanada.sk, www.ksok.sk, +421(0)918 485-978 2001 corporate EUR1,000; individual EUR350 application form, board approval, mem- lobbying; contacts and information for Záhradnícka 72 www.centire.com +421(0)2 5010-9800 1994 20 process management, grant Slovak Telekom, Hotel Amade Bratislava - Staré Mesto 811 08 www.cancham.sk, joseph.burza@ 64 bership fee members; assistance to market entry Bratislava - Ružinov 821 08 +421(0)2 5010-9800 renata.kiselicova@ 1 / 1 3 consulting, international projects, Château, Slovak University of [email protected], [email protected], info@ www.CanadaExclusive.com ksok.sk E, H, S, [email protected] +421(0)2 5010-9888 centire.com E, G, R, 0 l l l l IT consulting Technology in Bratislava, Pontis CanadaExclusive.com +421(0)2 5293-2895 Foundation 3 Deloitte Advisory s.r.o. Marián Hudák 5 French - Slovak Chamber of Commerce Zuzana Desvergnes Digital Park II, Einsteinova 23 www.deloitte.sk +421(0)2 5824-9111 1991 80 enterprise risk services, forensic NA BBC1, Plynárenska 1 www.fsok.sk +421(0)2 5910-3411 1994 depending on size of company registration form, board approval assistance in business entry; networking Bratislava - Petržalka 851 01 +421(0)2 5824-9111 deloitteSK@ 3 / 150 NA investigations, transaction advisory, Bratislava - Ružinov 821 09 +421(0)2 5910-3411 fsok@ 147 events; business breakfasts; seminars [email protected] +421(0)2 5824-9222 deloitteCE.com E, G, R, NA l l l l l project management [email protected] fsok.sk E, F, 6 German - Slovak Chamber of Industry and Commerce Guido Glania 4 Európske partnerstvo pre verejné stratégie - EPPP Martin Krekáč Suché mýto 1 www.dsihk.sk +421(0)2 2085-0620 2005 large companies EUR550; small companies interest in German-Slovak business assistance in market entry in Germany / Štefanovičova 12 www.eppp.sk +421(0)2 5443-6001 1998 5 education, research & develop- private sector, public sector, EU Bratislava - Staré Mesto 811 03 +421(0)2 2085-0620 info@ 420 EUR380; institutions EUR220 community Slovakia; organisation of member events; Bratislava - Staré Mesto 811 04 +421(0)2 5443-6001 slovakia@ 1 / 2 15 l l l ment, entrepreneurship, social institutions [email protected] +421(0)2 2085-0632 dsihk.sk E, G, support in participating at German trade fairs [email protected] +421(0)2 5443-6004 eppp.sk E, F, H, G, R, 2 science 7 Hispanic - Slovak Chamber of Commerce Francisco de la Sierra 5 Fipra - Public Policy & Regulatory Advisers Patrik Zoltvány Laurinská 2 www.camaradecomercio.sk +421(0)2 5249-3005 2009 individuals EUR150; small companies application form, membership fee support of commercial relations between Slo- Štefanovičova 12 www.fipra.sk +421(0)2 5443-6001 2007 8 public affairs, government relati- energy, health, transport, trade, Bratislava - Staré Mesto 811 01 +421(0)2 5249-3005 fdelasierra@ 26 EUR500; big companies EUR1,000 vak and Spanish companies through contacts, Bratislava - Staré Mesto 811 04 +421(0)2 5443-6001 slovakia@ 1 / 60 8 ons,regulatory affairs, competition public procurement, innovation, [email protected] camaradecomercio.sk E, S, information, events and discounts l l l [email protected] +421(0)2 5443-6004 fipra.com E, F, H, G, R, 167 policy, consumer policy industrial and consumer policy 8 Italian - Slovak Chamber of Commerce Giorgio Dovigi and finance Michalská 7 www.camit.sk +421(0)2 5413-1290 1997 EUR500 application form, membership fee lobbying; events; meetings; setting up compa- 6 Innovative Management Partner Consulting s.r.o. Milan Hán Bratislava - Staré Mesto 811 01 +421(0)2 5413-1290 g.dovigi@ 180 nies; info and consulting services; assistance Devín Palace, Gunduličova 4 www.impconsulting.com +421(0)2 5464-8552 2004 3 NA Transpetrol, SACR, Bramac, [email protected] camitslovakia.sk E, I, in market entry Bratislava - Staré Mesto 811 05 +421(0)905 723-005 m.han@ 1 / 6 2 Siemens IT, S&S, Slovenská pošta, 9 Japan - Slovak Chamber of Commerce Peter Bohov [email protected] imp-consulting.sk E, G, R, NA l l l l Orange Slovensko, Bionorica, Račianska 22/A www.sjok.sk +421(0)2 4437-1899 2006 EUR665 company must be registered at Slovak business consulting; networking; trade and GlaxoSmithKline CZ Bratislava - Staré Mesto 831 02 +421(0)2 4437-1899 bohov@ 10 business register or similar register abroad, market promotion; individual and group 7 Ivan Perlaki Consulting, s.r.o. Ivan Perlaki [email protected] +421(0)2 4437-1899 sjok.sk E, J, membership fee business trips Martinengova 8 www.perlaki.sk +421(0)2 6280-1193 1994 2 strategy, strat. & org. development, NA Netherlands Chamber of Commerce in the Slovak 10 Drahomíra Kiripolská Bratislava - Staré Mesto 811 02 +421(0)2 6280-1193 iperlaki@ 1 / 1 6 change mgmt., exec. coaching, Republic [email protected] perlaki.sk E, 0 l l customer centricity, HR Mostová 6 www.netherlandschamber.sk +421(0)918 397-983 1997 individual EUR200; corporate EUR830; application form, board approval, mem- business contacts; networking; consulting; Bratislava - Staré Mesto 811 02 +421(0)918 397-983 drahomira@ - patron EUR1,500 bership fee business and social events; seminars; events [email protected] netherlandschamber.sk E, in Slovakia and in the Netherlands 8 Jenewein Group Martin Krekáč 11 Polish - Slovak Chamber of Commerce Stanislav Kučírek Štefanovičova 12 www.jeneweingroup.com +421(0)2 5443-6001 1990 45 strategic management consulting, foreign investors, MNCs and Bratislava - Staré Mesto 811 04 +421(0)2 5443-6001 slovakia@ 1 / 1 88 l l l EU consulting, investment advisory, leading local companies, public Hálkova 31 www.spok.sk +421(0)41 723-5102 1996 EUR166 + VAT company established in Slovak Republic search for business partners; presentation [email protected] +421(0)2 5443-6004 jeneweingroup.com E, F, H, G, R, 15 government relations sector, EU institutions, NGOs Žilina 010 01 +421(0)41 723-5102 zahrza@ 35 and Poland of members; organisation of trade missions; [email protected] +421(0)41 723-5653 za.scci.sk E, Pl, exhibitions; seminars; etc. 9 Larive Slovakia s.r.o. Janka Kleinertová 12 Slovak Chamber of Commerce and Industry Peter Mihók Panská 18 www.larive.sk +421(0)2 5293-1583 1995 - corporate advisory, strategic various Slovak water management Bratislava - Staré Mesto 811 01 +421(0)2 5293-1583 janka.kleinertova@ 1 / 30 2 l l l l advisory, statutory advisory companies, LWM, SD Worx, Gorkého 9 www.sopk.sk +421(0)2 5413-1228 1992 EUR200 - EUR8,600 depending on size NA contacts for firms; business trips; arbitration [email protected] +421(0)2 5293-1583 larive.sk E, G, R, 0 Gnosjogruppen, Burg Groep Bratislava - Staré Mesto 816 03 +421(0)2 5413-1228 predseda@ - of company court; seminars; trainings; legal and customs [email protected] +421(0)2 5413-1159 sopk.sk E, F, G, consulting; publication 10 MARKETiN CEE s.r.o. Pavol Kopec Swedish Chamber of Commerce in the Slovak 13 Jan Norrman Lichnerova 41 www.marketincee.com +421(0)2 2020-0030 2003 4 market entry, export, M&A, part- ABB, Atlas Copco, Deloitte, DHL, Republic Senec 903 01 +421(0)2 2020-0030 kopec@ 1 / 1 4 nership, competitiveness, business DIBD, Hörle Trad, Ribe, Schenker l l Kalinčiakova 27 www.sweden.sk +421(0)907 586-991 1997 companies up to 10 empl. EUR415; from 11 submit application form, pay annual member- seminars; breakfast meetings and presenta- [email protected] +421(0)2 2020-0031 marketincee.com E, G, S, 200+ development in CEE region Storen, Switzerland Global Bratislava - Nové Mesto 831 04 +421(0)917 750-884 jan.norrman@ 38 empl. EUR830; individuals EUR100 ship fee, attend events tions; visits to companies, social and sports Enterprise, Trocellen, etc. [email protected] sweden.sk E, events; networking 11 Menkyna & Partners Management Consulting, s.r.o. Ján Menkyna 14 Swiss - Slovak Chamber of Commerce Zsolt Kajtor Palisády 47 www.menkyna.com +421(0)905 631-112 2006 17 executive search, leadership eva- NA Bratislava - Staré Mesto 811 06 +421(0)2 5441-2718 jan.menkyna@ 1 / 1 17 luation and development, coaching, Michalská 12 www.hssr.sk +421(0)905 227-891 2000 EUR500-1,200 board approval NA l l Bratislava - Staré Mesto 811 01 +421(0)903 476-538 zsolt.kajtor@ 36 [email protected] menkyna.com E, F, H, G, P, R, 0 management consulting wwwSpectator.sk:[email protected] 1 7.12.2012novartis.com23:13 StránkaE, G, R, 1 Pl, I, S, NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team 12 Mercuri International, s.r.o. Radoslav Simon Dúbravská cesta 2 www.mercuri.sk +421(0)2 4446-2674 1995 - sales process optimising, result NA Bratislava - Karlova Ves 841 04 +421(0)2 4446-2674 mercuri@ 1 / 54 6 oriented consulting [email protected] +421(0)2 4446-2677 mercuri.sk E, NA l l l

13 TMF Services Slovakia s.r.o. Ján Šeliga Dvořákovo nábrežie 4 www.tmf-group.com +421(0)2 5942-0000 1992 70 accounting and tax services, HR international companies - real Bratislava - Staré Mesto 811 02 +421(0)2 5942-0000 slovakia@ 1 / 86 NA and payroll services, corporate estate, pharmaceutical, IT, financial WWW PECTATO SK l l l .S R. [email protected] +421(0)2 5942-0001 tmf-group.com E, G, NA secretarial services institutions, automotive, production, services, etc. NA- not available,Al lAr-Arabic,y Bul-Bulgarian,ou n Cr-Croatian,ee D-Dutch,d E-English,to F-French,kn G-German,ow H-Hungarian,ab Chi-Chinese,ou I-Italian,t J-Japanese,Slo K-Korean,va N-Norwegian,kia .Pl-Polish,.. P-Portuguese,up R-Russian,da Sl-Slovenian,ted S-Spanishd aily Compiled by The Slovak Spectator Team NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team 50 consulting - finance and tax consulting – specialised 51

Názov (v abecednom poradí) Názov (v abecednom poradí) Adresa Telefón Riaditeľ / Marketing a PR / Financie a dane / Ľudský kapitál

Adresa www Riaditeľ Mesto PSČ Fax Telefón / Manažment Ľudský kapitál Mesto PSČ Telefón Telefón E-mail www E-mail / Nehnuteľnosti E-mail Fax E-mail

Company (Listed alphabetically) / IT Company (Listed alphabetically) Address Phone Chief executive officer Address www Chief executive officer City, Postal code Fax Phone Other Major clients T consulting City, Postal code Phone Phone Other Major clients E-mail www E-mail in of establishment in SR / No. branches Year SR (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR (Počet vo svete) / Jazyky krajín advisors No. of employees / Slovak Foreign poradcov slovenských / zahr. zamestnancov / Počet Počet Management consulting Financial & tax consulting poradenstvo Legal advice / Právne Human capital consulting Marketing & PR consulting I Real estate consulting Iné Hlavní klienti

E-mail Fax E-mail in of establishment in SR / No. branches Year SR (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR (Počet vo svete) / Jazyky krajín advisors No. of employees / Slovak Foreign poradcov slovenských / zahr. zamestnancov / Počet Počet Management consulting / Manažment Financial & tax consulting / Financie a dane poradenstvo Legal advice / Právne Human capital consulting / Marketing & PR consulting / a IT consulting / Real estate consulting / Nehnuteľnosti Iné Hlavní klienti Consulting - Grant and subsidy 1 Renaudit Juraj Matuška premium listing 1 EUROFORMES, a. s. Rastislav Horvát Vysokoškolákov 41 www.euroformes.eu +421(0)907 258-497 2004 7 NA NA Vajanského 3 www.renaudit.sk +421(0)37 655-0281 1991 18 audit of financial statements, accounting, Cikautxo, Koppert, Muehlbauer Techno- Žilina 010 08 +421(0)41 525-2000 horvat@ - / 15 10 l Nitra 949 01 +421(0)37 655-0281 matuska@ 1 / 1 10 payrolls logies, Leder&Schuh, DS Smith Slovakia, l l [email protected] +421(0)41 525-2000 euroformes.eu E, F, R, Pl, I, 5 [email protected] +421(0)37 655-0458 renaudit.sk E, G, S, 0 Ansaldo Nucleare, MC-Bauchemie, Takko 2 PNO SK s.r.o. Kvetoslava Papanová Fashion, Datamars Plynárenská 1 www.pnocee.com +421(0)911 558-890 2004 4 EU funds, grant & finance advisory, private sector, public sector, NGOs 2 Accace k.s. Peter Pašek Bratislava - Ružinov 821 09 +421(0)2 3214-4811 kvetoslava.papanova@ 1 / 25 7 l l business development, innovation [email protected] pnocee.com E, G, R, 5 management AC Petržalka, Röntgenova 26 www.accace.com +421(0)2 3255-3000 2002 100 accounting & reporting, payroll & HR NA Bratislava - Petržalka 851 01 +421(0)2 3255-3000 slovakia@ 1 / 7 50 l l l l administration, tax advisory, corporate and Consulting - IT [email protected] +421(0)2 3255-3001 accace.com E, G, NA legal services 1 Accenture, s.r.o. Peter Škodný Plynárenská 7/C www.accenture.com +421(0)2 5929-0290 1992 1,600 infrastructure, cyber security, systems world’s leading companies and govern- 3 ACCEPT AUDIT & CONSULTING, s.r.o. Ivan Bošela Bratislava - Ružinov 821 09 +421(0)2 5929-0290 peter.skodny@ 1 / 54 NA l l integration ments, including 94 companies listed in Baštová 38 www.acceptaudit.sk +421(0)51 772-3849 1995 19 audit, accounting, payroll services, wages NA [email protected] +421(0)2 5929-0291 accenture.com E, NA Fortune Global 100 Prešov 080 01 +421(0)51 772-3849 ibosela@ 3 / 1 5 l l l l l and salaries, valuation of assets and 2 gd - Team, a.s. SlovakErik Gottschall [email protected] +421(0)51 772-3849 acceptaudit.sk E, F, G, R, 2 companies Moyzesova 4/A www.gd-team.sk +421(0)905 561-731 2005 30 NA NA Pezinok 902 01 +421(0)33 641-4173 erik.gottschall@ - / 10 10 l 4 AT Partners - Geneva Group International Marián Augustín [email protected] +421(0)33 641-4173 gd-team.de E, G, 2 Stromová 54 www.atpartners.sk +421(0)2 5296-6955 2003 9 audit, accounting services, payroll services, NA 3 itelligence Slovakia, s.r.o. Rajmund Pavla since Bratislava - Nové Mesto 831 01 +421(0)2 5296-6955 marian.augustin@ 1 / 118 9 l consulting, outsourcing, due diligence Prievozská 4/C www.itelligence.sk +421(0)2 2091-1111 2013 30 BPM, SOA, EAM, B2B integration; ARIS, Orange, SPP, Transpetrol, Nafta, VšZP, [email protected] +421(0)2 5296-6956 atpartners.sk E, G, 0 Bratislava - Ružinov 821 09 +421(0)2 2091-1111 rajmund.pavla@ 1 / 22 30 l l webMethods, SAP, BellaDati, Metasonic Východoslovenská energetika, Západoslo- 5 Baker Tilly Slovakia s.r.o. Kristína Drábiková [email protected] itelligence.cz E, G, NA venská energetika, Železnice SR HR Marketing City Business Center V, Karadžičova 16 www.bakertilly.sk +421(0)2 5020-3303 2012 10 tax advisory, audit, accounting and reporting, Huawei Technologies Slovakia s.r.o., Falke 1 PMP Marketing, s.r.o. Martin Onofrej 1995 Bratislava - Staré Mesto 821 08 +421(0)2 5020-3302 kdrabikova@ 1 / 5 1 l l l payroll, startups, legal advisory Slovakia s.r.o., GE Equipment, Hyundai Panenská 23 www.group-pmp.com +421(0)2 3307-0031 1999 13 internal communication, crisis communica- Accenture, EY, ING Bank, Johnson Controls, [email protected] +421(0)2 5464-5032 tgc.eu E, G, 0 Motor s.r.o. Bratislava - Staré Mesto 811 03 +421(0)2news 3307-0031 martin.onofrej@ 1 / 1 5 l l tion, HR marketing, B2B & B2C marketing PARTNERS GROUP SK, Yanfeng, incl. their 6 BDR, spol. s r.o. Ľudmila Svätojánska Kiňová [email protected] group-pmp.com E, NA other central European branches M. M. Hodžu 3 www.bdrbb.sk +421(0)48 470-0041 1991 40 audit, tax advice, customs, corporate, financi- NA Banská Bystrica 974 01 +421(0)48 470-0041 bdr@ 2 / 103 21 l l l l l al consultancy, accounting, transfer pricing, [email protected] bdrbb.sk E, Cr, F, H, G, 0 7 BMB Leitner Renáta Bláhová Zámocká 32 www.leitnerleitner.com +421(0)2 5910-1807 1996 76 audit, corporate services, financial advisory NA Bratislava - Staré Mesto 811 01 +421(0)2 5910-1800 renata.blahova@ 1 / 9 50 l [email protected] +421(0)2 5910-1850 bmbleitner.sk E, G, NA 8 CCS Tax, k.s. Denisa Ružičková youSlovak can Tomášikova 50/E www.ccstax.sk +421(0)2 3260-6512 2009 17 business consulting, accounting, payroll, OBI, Austrian Airlines, Raiffeisen Leasing Bratislava - Nové Mesto 831 04 +421(0)2 3260-6512 ruzickova@ 1 / 2 5 l l corporate services, audit since [email protected] +421(0)2 3214-4000 ccstax.sk E, H, G, NA 9 Ernst & Young, s.r.o. (EY) Matej Bošňák Hodžovo námestie 1A www.ey.com/sk +421(0)2 3333-9111 1991 300 transaction services, business consulting NA Bratislava - Staré Mesto 811 06 +421(0)2 3333-9111 ey@ 3 / 140 NA l l l 1995 [email protected] +421(0)2 3333-9112 sk.ey.com E, 0 news 10 IB Grant Thornton Consulting, k.s. Wilfried Serles Križkova 9 www.grantthornton.sk +421(0)2 5930-0400 1991 55 accounting services, transfer pricing, NA Bratislava - Staré Mesto 811 04 +421(0)2 5930-0400 wilfried.serles@ 2 / 8 5 l l payroll services trust [email protected] +421(0)2 5930-0410 sk.gt.com E, G, 2 11 KPMG Slovensko, spol. s r.o. Kenneth Ryan Dvořákovo nábrežie 10 www.kpmg.sk +421(0)2 5998-4111 1991 320 audit, tax, transactions and restructuring, NA Bratislava - Staré Mesto 811 02 +421(0)2 5998-4111 kpmg@ 2 / 155 71 l l l l l management consulting, risk consulting, [email protected] kpmg.sk E, K, H, G, R, 3 legal services you can 12 Monarex Audit Consulting, s.r.o. Ladislav Pompura Námestie slobody 2 www.monarex.sk/en +421(0)905 323-949 1996 15 audit, accounting, payroll, valuation of NA Banská Bystrica 974 01 +421(0)905 323-949 pompura@ 1 / 1 8 l businesses [email protected] +421(0)48 470-1523 monarex.sk E, G, R, 0 13 PricewaterhouseCoopers Advisory s.r.o. Todd Bradshaw Twin City Business Centre A, Karadžičova 2 www.pwc.com/sk +421(0)2 5935-0600 1991 60 operational excellence, public NA Bratislava - Ružinov 815 32 +421(0)2 5935-0111 todd.bradshaw@ 1 / 157 47 l l l sector, transaction services, mergers & [email protected] +421(0)2 5935-0222 sk.pwc.com E, G, 12 acquisitions trust 14 Sahesa s.r.o. Blažena Szabová Miletičova 21 www.sahesa.sk +421(0)2 4464-4188 1993 11 due diligence business and production companies, foun- Bratislava - Ružinov 821 08 +421(0)2 4464-4188 szabova@ 2 / 1 3 l l l l dations, local governments, grants [email protected] +421(0)2 4464-4189 sahesa.sk E, G, R, NA 15 TPA AUDIT, s.r.o. Ivan Paule Pribinova 4195/25 www.tpa-group.sk +421(0)2 5735-1124 2001 50 acquisitions, investment aid, accounting NA Bratislava - Staré Mesto 811 09 +421(0)2 5735-1111 ivan.paule@ 2 / 11 6 l l l l [email protected] tpa-group.sk E, G, NA 16 VGD SLOVAKIA s.r.o. Bart Waterloos Moskovská 13 www.vgd.eu +421(0)905 570-566 2002 100 audit and payroll processing, M&A NA Bratislava - Staré Mesto 811 08 +421(0)2 5541-0624 bart.waterloos@ 2 / 9 70 l l www.spectator.skwww.spectator.sk [email protected] vgd.eu E, F, D, G, 1 NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team 148x210TSSforAmCham_13.inddInhouse_A5.indd 2 1 10.18.4.2013 3. 2015 11:28:03 14:57:26 www.spectator.sk

148x210TSSforAmCham_13.inddInhouse_A5.indd 2 1 10.18.4.2013 3. 2015 11:28:03 14:57:26

Inhouse zeleny A4.indd 2 21. 11. 2015 12:41:31 52 Labour market Labour market 53

falling unemployment rate is the relatively good the minimum wage “to protect the dignity of economic growth, as well as the increase in the labour”. Government seeks to fight joblessness, number of new jobs thanks to new investments By 2020, when the current government is and stricter rules for registering the unemployed. expected to wrap up its term in office, the mini- “The numbers may be distorted by seasonal mum wage in Slovakia should hit the “magic concrete measures missing work which has already finished, so we expect a threshold” of €500, Prime Minister Robert Fico slight increase in joblessness to pre-season levels,” pledged as he signed the directive that raises the The labour market faces several obstacles, including Špániková said. minimum wage in Slovakia from €405 to €435 as of the start of 2017. a lack of qualified workers and people wanting in basic working habits Focus on the long-term unemployed The sum is lower than the proposal of the The ministry, meanwhile, has launched six Confederation of Trade Unions (KOZ), which national programmes aimed at reducing the job- wanted an increase to €442 a month, to “the rossing “magic thresholds” is part of the less rate. It expects to create some 90,000 new fight against the phenomenon of working labour policy of the current govern- jobs, especially for people younger than 29 years poverty in a way that it achieves 60 percent of

ment. of age, the long-term jobless and elderly people, Sme Source: the wage in national economy”, explained KOZ CDuring its four-year tenure, the Labour Husárová said. proved by the government for 12 districts with spokesperson Martina Nemethová. Ministry wants to create 100,000 new jobs and Yet Páleník criticises the measures, consider- the highest number of the unemployed. Employers, however, see the increase as too reduce the unemployment rate to below the ing it “a waste of money”. He also criticises the Another way is also to support the creation high. They originally proposed to increase it only threshold of 10 percent; while the minimum approach of the government towards long-term of social companies, for which the ministry is to €430 a month, but also to change the payroll wage should rise above the €500 threshold. unemployment, which is the highest in Košice preparing an individual law. tax deductions on health insurance and the coef- While the ministry highlights measures and Banská Bystrica regions (nearly three-fifths “Thanks to them [social companies] we ficients of minimum wage claims, Hošták said. adopted in the previous election term to help of all unemployed people in these regions), ac- will create a mid-market, which means that the Páleník also points to another problem: that people registered with labour offices for less than cording to ÚPSVaR data. employees will learn basic work habits during the minimum wage does not apply to people 12 months, employing people registered for Compared with other countries, Slovakia the first year or two,” Husárová explained, “and working for the state. This concerns some longer periods still remains a challenge. has the second highest long-term joblessness, they will then look for permanent employment, 100,000 people, including those at activation “The government will thus adopt measures after Greece, said Poštová Banka analyst Jana which will be easier for them as they will have works. to deal with long-term joblessness, focusing Glasová, as reported by the TASR newswire in certain work experience.” “The state should set an example and pay on an individual approach and the pro-active late September 2016. these people at least the minimum wage,” the attitude of specific jobseekers,” reads the pro- The ministry, however, considers it a prior- Minimum wage to be €500 analyst added. gramme statement of the government. ity. One of the ways to reduce it, according to Among the promises included in the govern- By Radka Minarechová Analyst with the Employment Institute the ministry, is the adoption of action plans ap- ment manifesto is also a continual increase in Spectator staff Michal Páleník, however, questions the current activities to help the long-term unemployed, as well as the programmes aimed at helping the other disadvantaged groups among the jobless. Source: TASR Source: Job portals & HR companies in Slovakia “Though there are certain measures, they Job portals: www.brigady.sk; SAM Headhunting Slovakia: AGO Europe: www.ago.sk are underfinanced, ineffective and erroneously may actually be fulfilled, according to Martin Jobless rate going down www.job.sk; www.jobagent.sk; www.samheadhunting.sk Arios - personálne služby: www.arios.sk prepared,” Páleník told The Slovak Spectator. Hošták of the National Union of Employers The registered jobless rate in Slovakia www.kariera.zoznam.sk; www.mojapraca.sk; TARGET Executive Search Slovakia: Balanced Hr: www.balanced-hr.com www.praca.sme.sk; www.profesia.sk www.targetexecutivesearch.com CPL Jobs: www.cpljobs.sk (RÚZ). continued dropping in 2016, though it still Teamconsult SR: www.teamconsult.sk Grafton Recruitment Slovakia: Focusing on job creation “There certainly is space for an increase in has not fallen to pre-crisis levels. In September ExEcutivE sEarch firms TheXecutives: www.thexecutives.com www.grafton.sk The Smer party had been talking about its new jobs, but it is limited by the current policy it amounted to 9.42 percent, the lowest since Accord Group Ceska: www.accord-ece.com HRC Slovakia: www.hrconsulting.sk aim to support the creation of 100,000 jobs of the government which limits the potential January 2009 when it stood at 9.03 percent. Arthur Hunt: www.arthur-hunt.com Human Capital Consulting Lugera & Maklér: www.lugerarepublic.sk LUTO Automotive: even before the March 2016 general elections, as job creation with many (also recently approved) In absolute numbers, labour offices registered Blechova Management Consulting: A-OMEGA: www.a-omega.sk www.blechovaconsulting.sk Amrop - Leaders For What´s Next: www.amrop.sk www.lutoautomotive.com part of its third package of social measures. The measures,” Hošták told The Slovak Spectator. altogether 255,919 people ready to take a job Business essentials: www.essentials.sk AuJob: www.aujob.eu Personel Efekt: www.personelefekt.sk promise also made it to the programme state- The Federation of Employers’ Associations immediately, according to the Central Office of CNA International - Slovakia: FBE Bratislava: www.fbe.sk Phoenix Quality services: ment, with the government claiming that it will (AZZZ) also points to the worsening business Labour, Social Affairs and Family (ÚPSVaR). Consilium Consulting: www.consilium.sk HR Management: www.hr-management.sk www.phoenixqs.com take into consideration the needs of employers, environment which is preventing the creation The jobless rate calculated from the total Dr. Pendl & Dr. Piswanger Management Hrman: www.hrman.sk R. I. Consultancy Services (slovakia): www.recruitment.sk particularly in regard to the labour force. of 100,000 new and sustainable jobs by 2020. number of unemployed was slightly higher. It Consulting: www.pendlpiswanger.sk Human Dynamic: www.humandynamic.sk ISG: www.isg.sk KNO SLOVENSKO: www.kno.sk recagent: www.dobryflek.sk It also pointed to the lack of qualified work- One of the problems is also the lack of qualified amounted to 10.83 percent in September 2016, KORN/FERRY company: www.kornferry.com synergie slovakia: www.synergie.sk ers, which may pose a risk to the further growth workers. which accounts for 294,095 people, ÚPSVaR Libellius: www.libellius.com Trenkwalder: www.trenkwalder.sk of businesses. “There are no tools yet that would change data suggest. Maxman Consultants: Trigon Consulting: www.trigon-consulting.sk “The main task will be the harmonisation of the current state of things,” AZZZ’s spokesperson The total number of jobless has dropped by www.maxman-consultants.com education with labour market needs,” reads the Miriam Špániková told The Slovak Spectator. 36,688 since the beginning of 2016, of which KINGFISHER Executive Search: McROY Group: www.mcroygroup.com tEmporary EmploymEnt agEnciEs www.kingfisherexecutive.com MENITY GROUP: www.menity-group.com indeX nosluŠ: www.indexnoslus.sk government manifesto. The Labour Ministry, however, expects 7,126 were younger than 29 years of age and Menkyna & Partners Management Consulting: nebotra consulting: www.nebotra.com manpoWer slovensKo: The creation of new jobs will first of all nearly 50,000 new jobs to have been created in 25,119 were people without work for more than www.menkyna.com TRIGON Consulting: www.trigon-consulting.sk www.manpower.sk depend on employers. Yet their opinions on the 2016, referring to the recent prognosis of the 12 months, Veronika Husárová of the Labour Pedersen & Partners: Proact People Slovensko: www.proactpeople.sk ministry’s plans differ. Current developments in Institute of Financial Policy, the think tank of Ministry’s press department specified. www.pedersenandpartners.com rEcruitmEnt agEnciEs Start People: www.startpeople.sk the labour market indicate that some of them the Finance Ministry. Employers agree that the main reason for the Person: www.person.sk adecco slovakia: www.adecco.sk Work Service Slovakia: www.workservice.eu.sk 54 Labour market Labour market 55

Basic information about Slovakia’s regions Unemployment rate by education in 2Q/2016* Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Slovakia Slovakia Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region B. Bystrica Region Prešov Region Košice Region Region Region Region Region Region Region Region Region Population as of 31.12.2015 5,426,252 633,288 559,697 589,935 682,527 690,434 653,024 820,697 796,650 Unemployed 264,800 (100%) 16,400 (100%) 28,600 (100%) 18,100 (100%) 30,900 (100%) 29,100 (100%) 45,200 (100%) 57,600 (100%) 38,800 (100%) Size (in square kilometres) 49,034 2,054 4,147 4,501 6,344 6,811 9,454 8,972 6,751 Elementary and without education 49,000 (18.5%) 1,900 (11.6%) 3,700 (12.9%) 2,500 (13.8%) 3,500 (11.3%) 4,700 (16.2%) 9,000 (19.9%) 15,900 (27.6%) 7,900 (20.4%) Share of Slovak GDP creation 2014 100% 27.89% 11.43% 9.5% 10.92% 11.04% 8.65% 9.07% 11.5% Secondary without A level 90,800 (34.3%) 4,000 (24.4%) 11,300 (39.5%) 6,700 (37%) 12,700 (41.1%) 10,300 (35.4%) 16,000 (35.4%) 16,600 (28.8%) 13,300 (34.3%) Source: Statistics Office of the Slovak Republic Secondary with A level 92,300 (34.9%) 4,600 (28%) 10,200 (35.7%) 6,500 (35.9%) 11,100 (35.9%) 10,400 (35.7%) 15,500 (34.3%) 20,000 (34.7%) 14,200 (36.6%) University 32,700 (12.3%) 6,000 (36.6%) 3,400 (11.9%) 2,500 (13.8%) 3,600 (11.7%) 3,800 (13.1%) 4,700 (10.4%) 5,200 (9%) 3,500 (9%) Wages & Labour Costs* * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic Slovakia Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region B. Bystrica Region Prešov Region Košice Region Average nominal monthly wage for the first half of 2016 €884 €1,147 €805 €786 €719 €775 €754 €672 €799 Economically active population by education in 2Q/2016* Avg. nominal monthly wage 2015 €883 €1,122 €799 €812 €736 €786 €751 €683 €803 Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Slovakia Avg. nominal monthly wage 2014 €858 €1,107 €772 €779 €705 €750 €730 €657 €775 Region Region Region Region Region Region Region Region Economically active population 2,755,600 (100%) 353,500 (100%) 310,100 (100%) 299,700 (100%) 345,700 (100%) 344,300 (100%) 333,600 (100%) 399,100 (100%) 369,700 (100%) Monthly wage costs per employee 2014 €1,310 €1,712 €1,195 €1,169 €1,100 €1,182 €1,111 €1,018 €1,254 Elementary and without education 149,600 (5.4%) 11,800 (3.3%) 11,200 (3.6%) 9,700 (3.2%) 17,100 (4.9%) 17,400 (5.1%) 27,300 (8.2%) 28,800 (7.2%) 26,200 (7.1%) * data based on the statistical data for quarters (estimation of wages of self-employed included) Source: Statistics Office of the Slovak Republic Secondary without A level 774,600 (28.1%) 66,100 (18.7%) 97,800 (31.5%) 94,700 (31.6%) 100,600 (29.1%) 117,100 (34%) 88,800 (26.6%) 103,900 (26%) 105,700 (28.6%) Secondary with A level 1,219,200 (44.2%) 141,700 (40.1%) 149,700 (48.3%) 133,900 (44.7%) 152,900 (44.2%) 147,000 (42.7%) 148,400 (44.5%) 175,300 (43.9%) 170,500 (46.1%) Average monthly wage in 2015 based on the National Classification of Economic Activities (NACE)* University 612,300 (22.2%) 134,000 (37.9%) 51,500 (16.6%) 61,500 (20.5%) 75,100 (21.7%) 62,700 (18.2%) 69,100 (20.7%) 91,100 (22.8%) 67,300 (18.2%) Slovakia Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region B. Bystrica Region Prešov Region Košice Region * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic Economy total €993 €1,319 €930 €902 €855 €918 €861 €799 €945 A Agriculture, fishing & forestry €815 €896 €871 €834 €834 €767 €822 €738 €771 B Mining and quarrying €1,030 €1,355 €1,135 €994 €1,079 €1,015 €1,076 €771 €944 Employment in sectors of economy in 2Q/2016 based on the National Classification of Economic Activities (NACE)* Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice C Manufacturing €1,021 €1,442 €1,050 €976 €912 €1,026 €866 €790 €1,074 Slovakia Region Region Region Region Region Region Region Region D Electricity, gas, steam supply €1,534 €2,182 €1,525 €1,405 €1,602 €1,374 €1,306 €1,077 €1,303 Economy total 2,490,800 (100%) 337,100 (100%) 281,500 (100%) 281,500 (100%) 314,800 (100%) 315,200 (100%) 288,500 (100%) 341,400 (100%) 330,900 (100%) E Water supply and waste €872 €1,231 €1,030 €764 €804 €865 €790 €739 €850 A Agriculture, fishing & forestry 72,500 (2.9%) 4,700 (1.4%) 9,100 (3.2%) 7,200 (2.6%) 10,500 (3.3%) 8,600 (2.7%) 10,800 (3.7%) 11,600 (3.4%) 9,900 (3%) F Construction €881 €1,126 €805 €834 €723 €862 €821 €748 €900 B Mining and quarrying 10,800 (0.4%) 200 (0.1%) 700 (0.2%) 6,300 (2.2%) 600 (0.2%) 300 (0.1%) 1,800 (0.6%) 300 (0.1%) 600 (0.2%) €948 €1,286 €819 €823 €799 €819 €823 €723 €832 G Wholesale and retail trade; Repair of motor vehicles C Manufacturing 612,400 (24.6%) 51,900 (15.4%) 76,300 (27.1%) 100,300 (35.6%) 85,600 (27.2%) 86,100 (27.3%) 66,900 (23.2%) 74,400 (21.8%) 71,000 (21.5%) H Transport and storage €896 €1,143 €862 €790 €746 €809 €785 €799 €832 D Electricity, gas, steam supply 29,600 (1.2%) 5,200 (1.5%) 6,800 (2.4%) 1,500 (0.5%) 7,900 (2.5%) 2,300 (0.7%) 2,700 (0.9%) 1,100 (0.3%) 2,200 (0.7%) I Accommodation, food services €598 €678 €564 €617 €495 €576 €589 €547 €546 E Water supply and waste 29,100 (1.2%) 2,700 (0.8%) 3,800 (1.3%) 3,400 (1.2%) 7,300 (2.3%) 1,100 (0.3%) 2,600 (0.9%) 4,500 (1.3%) 3,600 (1.1%) €1,856 €2,165 €1,310 €1,156 €987 €1,430 €1,482 €1,349 €1,570 J Information & communication F Construction 224,900 (9%) 19,600 (5.8%) 20,700 (7.4%) 21,100 (7.5%) 28,800 (9.1%) 50,900 (16.1%) 18,900 (6.6%) 43,000 (12.6%) 21,800 (6.6%) K Financial & insurance act. €1,670 €1,895 €1,240 €1,324 €1,303 €1,292 €1,227 €1,185 €1,307 G Wholesale and retail trade; Repair of motor vehicles 312,500 (12.5%) 50,400 (15%) 40,500 (14.4%) 26,700 (9.5%) 38,700 (12.3%) 31,400 (10%) 37,700 (13.1%) 45,100 (13.2%) 42,000 (12.7%) L Real estate activities €982 €1,275 €1,021 €779 €811 €727 €882 €761 €828 H Transport and storage 166,100 (6.7%) 23,600 (7%) 22,000 (7.8%) 17,900 (6.4%) 22,000 (7.0%) 15,600 (4.9%) 16,400 (5.7%) 19,600 (5.7%) 29,000 (8.8%) M Professional, scientific and technical activities €1,286 €1,531 €1,055 €839 €989 €873 €891 €959 €945 I Accommodation, food services 113,500 (4.6%) 16,800 (5%) 13,100 (4.7%) 11,900 (4.2%) 9,700 (3.1%) 16,400 (5.2%) 12,400 (4.3%) 20,400 (6%) 12,900 (3.9%) N Administrative & support services €696 €802 €731 €612 €558 €617 €611 €553 €705 J Information & communication 67,300 (2.7%) 23,600 (7%) 4,500 (1.6%) 4,500 (1.6%) 3,900 (1.2%) 6,900 (2.2%) 7,000 (2.4%) 6,700 (2%) 10,200 (3.1%) O Public administration, defence & social security €1,012 €1,262 €964 €959 €890 €963 €940 €916 €940 K Financial & insurance activities 46,900 (1.9%) 11,600 (3.4%) 5,900 (2.1%) 6,100 (2.2%) 4,800 (1.5%) 4,800 (1.5%) 6,100 (2.1%) 4,300 (1.3%) 3,300 (1%) P Education €837 €884 €828 €789 €828 €812 €806 €840 €868 L Real estate activities 16,200 (0.7%) 4,900 (1.5%) 2,800 (1%) 1,600 (0.6%) 2,100 (0.7%) 1,100 (0.3%) 1,000 (0.3%) 1,300 (0.4%) 1,300 (0.4%) Q Health and social work €973 €1,164 €832 €928 €973 €987 €910 €881 €957 M Professional, scientific and technical activities 73,100 (2.9%) 19,600 (5.8%) 9,000 (3.2%) 6,000 (2.1%) 8,700 (2.8%) 6,900 (2.2%) 9,200 (3.2%) 6,600 (1.9%) 7,100 (2.1%) R Arts, entertainment, recreation €758 €934 €678 €638 €647 €712 €685 €678 €628 N Administrative & support services 60,700 (2.4%) 14,100 (4.2%) 5,300 (1.9%) 5,200 (1.8%) 3,700 (1.2%) 4,900 (1.6%) 4,100 (1.4%) 9,700 (2.8%) 13,700 (4.1%) S - U Other €703 €943 €615 €616 €564 €657 €567 €496 €617 O Public administration, defence & social security 221,200 (8.9%) 30,700 (9.1%) 17,300 (6.1%) 19,100 (6.8%) 21,600 (6.9%) 24,600 (7.8%) 41,900 (14.5%) 23,300 (6.8%) 42,700 (12.9%) P Education 177,500 (7.1%) 20,900 (6.2%) 14,000 (5%) 19,300 (6.9%) 24,300 (7.7%) 18,800 (6%) 25,000 (8.7%) 31,100 (9.1%) 24,100 (7.3%) * collected through workplace method (estimation of wages of self-employed not included) Source: Statistics Office of the Slovak Republic Q Health and social work 183,100 (7.4%) 22,300 (6.6%) 15,700 (5.6%) 17,800 (6.3%) 25,500 (8.1%) 27,400 (8.7%) 16,800 (5.8%) 29,800 (8.7%) 27,800 (8.4%) Unemployment & economic activity rate in Slovakia’s regions in 2Q/2016* R Arts, entertainment, recreation 33,700 (1.4%) 9,200 (2.7%) 5,800 (2.1%) 2,900 (1%) 3,500 (1.1%) 2,700 (0.9%) 3,400 (1.2%) 3,400 (1%) 2,900 (0.9%) Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice S - U Other 39,700 (1.6%) 5,000 (1.5%) 8,200 (2.9%) 2,800 (1%) 5,800 (1.8%) 4,300 (1.4%) 3,600 (1.2%) 5,200 (1.5%) 4,900 (1.5%) Slovakia Region Region Region Region Region Region Region Region * data based on a labour force survey (LFS) Source: Statistics Office of the Slovak Republic Economically active population 2,755,600 353,500 310,100 299,700 345,700 344,300 333,600 399,100 369,700 Unemployment rate 9.6% 4.6% 9.2% 6.0% 8.9% 8.5% 13.5% 14.4% 10.5% Employment in sectors of economy in 2Q/2016 Economically active population by education in 2Q/2016 Unemployed 264,800 16,400 28,600 18,100 30,900 29,100 45,200 57,600 38,800 13.5% 5.4% Economic activity rate in % 60% 66.2% 64.4% 58.6% 58.5% 59% 59.8% 59.2% 56% 24.6% 22.2% * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic 2.9% Unemployment rate* 2.9% Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Slovakia Region Region Region Region Region Region Region Region 28.1% 2001 19.2% 8.3% 18.0% 13.4% 23.1% 18.9% 22.4% 22.7% 24.8% 4.6% 2004 18.1% 8.2% 12.5% 8.6% 20.3% 17.5% 26.6% 22.9% 25.2% 2005 16.2% 5.2% 10.4% 8.1% 17.8% 15.2% 23.8% 21.5% 24.7% 2006 13.3% 4.3% 8.8% 7.1% 13.2% 11.8% 21.1% 18.1% 20.3% 6.7% 12.5% 2007 11% 4.2% 6.5% 5.7% 10.7% 10.1% 20% 13.8% 15.9% 2008 9.6% 3.6% 6.2% 4.7% 8.8% 7.7% 18.2% 13% 13.5% 2009 12.1% 4.7% 9.1% 7.3% 13.0% 10.6% 18.8% 16.2% 15.5% 7.1% 2010 14.4% 6.1% 12% 10.2% 15.4% 14.5% 18.6% 18.6% 18.3% 9% 2011 13.5% 5.8% 10.6% 8.7% 12.5% 14.3% 17.5% 17.8% 19.6% 7.4% 8.9% 44.2 % 2012 14.0% 5.6% 11.4% 9% 13.3% 14.3% 18.0% 18.3% 19.7% n Manufacturing n Education 2013 14.2% 6.4% 12.2% 9.5% 13.2% 14% 19.6% 18.2% 18.7% n Wholesale and retail trade; Repair of n Transport and storage 2014 13.2% 6% 12.4% 8.6% 11.9% 13.6% 18.3% 17.5% 15.6% motor vehicles n Accommodation, food services n n 2015 11.5% 5.7% 11% 7.2% 10.8% 10.3% 15.3% 16.8% 13% Construction Agriculture, fishing & forestry Elementary and without education n Public administration, defence & social n Professional, scientific and technical Secondary without A level 9.6% 4.6% 9.2% 6% 8.9% 8.5% 13.5% 14.4% 10.5% 2Q/2016 security activities Secondary with A level * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic n Health and social work n Other University 56 Labour market SPECTACULAR SLOVAKIA57 BOOKTR ABAVEOUL TG USILDOEVAKIA S

FAQ: Dealing with Slovaks L The answers were prepared based on the responses Employment relations in Slovakia O of Dana Blechová (managing partner, Blechova Man- agement Consulting); Luboš Sirota (chairman of the board, McROY Group); Marek Chrastina (managing V EMPLOYMENT CONTRACT SICK LEAVE partner, TRIGON Consulting); Sergio Duarte (country manager, Adecco Slovakia); Martin Marek (managing AKI A Working relations must always be based In the event of a temporary sick leave, partner, Balanced HR), and Ivana Molnárová (executive on a written employment contract with an employee is entitled to sickness insurance director, Profesia). at least two signed copies – one for the benefits only beginning from the 11th day Q: What should I expect when communicating with Slovak partners? A: Slovaks want to create and main- employer and one for the employee. In the of the leave, at 55 percent of the daily tain good relationship with their business partners, in contract, the employee commits himself or assessment basis. Until that point, the the long run even friendship. But even after many years herself to performing the tasks defined by employee is entitled to an income substitute of cooperation you should not expect complete loyalty, especially if your Slovak business partner is offered a T the employer, and the employer commits to as defined by the law. much lower price from the competition. Slovaks are not paying wages for the performed work. The income substitute is paid by the always punctual for meetings. Slovaks without internati- R onal experience might have problems to create an equal Special gift for your business partner The contract must contain at least the employer from the first day until the end of partner relationship, often lack healthy self-confidence A following conditions and provisions: job the temporary sick leave, up to the 10th day. and a global viewpoint, or even communication Live your own story of Slovakia V description, location of the work, the starting For the first three days, it is 25 percent of the skills. Slovaks are not always politically correct and with the branding of your company diplomatic, and are not masters of small talk. Due to the date, the amount of the salary and the date daily assessment basis and from the fourth specifics of the Slovak business environment, local com- E it is paid, the working hours, the number until the 10th day, it is 55 percent of the panies tend to be over-cautious and suspicious towards Information and new business partners. They are used to dealing with L of days off and the notice period for the daily assessment basis. In order to receive the their issues “unofficially”, relying on personal contacts.

contact details for more G U termination of the contract. income substitute, the employee is required They might take longer to build mutual trust. In general, to provide confirmation of temporary sick however, Slovaks are ready to adjust to the new rules and be reliable partners. The typical Slovak features than 450 tourist spots TYPES OF EMPLOYMENT CONTRACTS leave. used to be low self-confidence, lower acceptance of risk, Slovak law allows employers and lack of a global dimension in business, focus on content

rather than attractive presentation and low flexibility 3D aerial drawings of I employees to agree upon one of two basic TERMINATING AN to move for business. With the new generation now Top Slovak sights D types of job contracts: EMPLOYMENT RELATIONSHIP arriving to business, this is changing. There are no 7 major city centres specific traditions about structure or phases of business

Fixed-term employment contract By mutual agreement between the E negotiations the way we know it from Asia. Slovak LOVAKI A S P Fixed-term employment is limited to up employer and the employee. companies are generally seen as producing good quality TACUL AR SPE C 1 1 and being consistent in keeping agreements. KIA 1 1 to two years. The fixed-term contract can be A termination notice from either the 32 travelSL O VA S 1 R 1 Q: How do Slovaks react to changes? A: The older ECTACUL A L 1 prolonged or renewed, but only twice within employer or the employee. In the case of SP O 171 maps of city generation is more cautious and loyal to employers or bu- V A 1 1 feature stories A I K 1 VA 1 siness partners, while the young generation is much more K O two years. the employer, the reason must be stated in SL e l gu id V I trave centres and major Employment contract for unlimited time the notice. If an employer terminates an self-confident, flexible, and not easily scared by changes. A

Q: What are the specifics of corporate culture in Slovak T This contract does not state a fixed period for employee on the basis of redundancy, the R mountains companies? A: Most companies are struggling with in- A troducing some official corporate culture, like clear vision ovakia V the contract’s validity. employer is not allowed to fill the same y of Sl E and mission of the company, and many haven’t managed Live your own stor G L In addition to these, two basic forms of position during the following two months. to do so yet. Those tend to act ad hoc and spontaneously Pull-out map U contact details employment contract, there are other agreements Immediate termination of an when dealing with a problem. There are still companies 450 tourist spots I 3D D

where the pre-1989 culture is felt, or some where the spe- E which can serve as the basis for employment employment relation. of Slovakia7 CE cifics of the 1990s persist. But nowadays most companies Top PRI More than relations in an agreement on performing certain The employer is entitled to do so if the have already achieved a professional level where owners 17 maps 32 4.9 0 tasks; an agreement on working activity; and an employee was sentenced for committing respect and value their people and the employees in turn feature stories €1 1,000 photos respect and value their customers. PER COPY agreement on seasonal work for students. a crime or for severely violating working Q: What ethical principles do Slovaks adhere to while Pull-out map 1,000 photos An agreement on performing certain rules. An employee can terminate a contract doing business in Slovakia? A: Slovak companies have come a long way in respecting ethical standards in tasks can be signed between an employer and a immediately for personal health reasons, if Calendar recent years. They realise that damage to reputation is Suggested i natural person, provided the performance of the an employer does not pay the salary, or if the hard to repair in business. Many companies have come itinerary Calendar tasks stated in the contract does not exceed 350 employee’s life or health is at risk at work. up with codes of ethics. Companies do not tend to harm seven day their clients and keep contracts and agreements. Termination of the fixed-term employ- 28 hotels and restaurants hours in a year. Q: What are the specifics of the Slovak labour market itinerarymonuments Logo of events An agreement on working activity ment contract is automatic after the term that foreigners might find surprising? A: Generally of your clu des foreign employers are satisfied here. The qualities they In p can serve as a basis for performing work not passes if the contract is not extended. company pu ll- ou t ma value about Slovaks include the willingness to work exceeding 10 hours per week. Terminating an employment contract hard and return good results. On the other hand, they An agreement on seasonal work for in the probationary period can be done by often have to cope with Slovaks’ lacking initiative and

willingness to have their say in business issues. Fore- E NC SI 5 students can be signed between employers either party for any reason. 199 igners also note the lack of openness in communication CONTENT and a natural person who is a student. This A mass layoffis when an employer is- and willingness to take responsibility among Slovaks. Drawings of 28 ADVISOR Selection of top contract can be used for performing tasks that sues termination notices or agrees on the ter- Q: What should I expect from Slovaks as employees? A: Slovaks tend to maintain informal and even friendly historical monuments hotels and restaurants do not require, on average, more than half of mination of employment relations with 10 relationships with their colleagues at work. They need the standard weekly working hours and the or more employees (or 10 percent or more of good atmosphere and interpersonal relations, and they talk about their private matters at work. This might agreement must be accompanied by proof that the total workforce depending on the size of affect the productivity of their work sometimes. They the employee is a student. the company) within a 30 day period. are also emotive when it comes to feedback, and find it These three types of agreement must be difficult not to take critical feedback personally. On the other hand, they are ready to work long hours if needed in written form and be signed in order to Source: www.employment.gov.sk, and return good results. They tend to be less assertive become valid. www.socpoist.sk and are unlikely to fight for their employee rights. ORDERRDER NO WNOW wwshopw.spec.spetctataort.osme.sr.sk/pk roducts [email protected]; +421 2 59 233 300

Inhouse_63.indd 1 11. 12. 2014 15:27:01

InhouseINV_2015.indd 1 21. 11. 2015 10:38:56 58 real estate real estate 59

is responding to the transformation of this neighbourhood into a new business zone. JLR plant, cheap mortgages alter market “The whole quarter is now being revitalised, trong economic growth and low inter- “Existing and planned parks around Nitra “This is because a common life cycle of a where a new business heart of the city is growing est rates mean the real estate market is are waiting for the next developments too,” said shopping centre is 10 years, which many centres close to one of the most pleasant residential thriving, and with Slovakia set to become Horváth, adding that this situation is dramati- are nearing,” Daniel Kúth, senior consultant of areas of Bratislava,” Jakub Gossányi, develop- Shome to a fourth carmaker, that trend looks set cally increasing the prices of land and future the Retail Agency JLL, told The Slovak Spectator. ment manager at HB Reavis, told The Slovak to continue. rents in the region. Among the biggest projects for 2017, Kúth Spectator. In the industrial sector attention is focused This higher demand for logistic and indus- highlighted the planned opening of Eperia in Just opposite the bus station project is an on Nitra and its vicinity, where Jaguar Land trial space encourages investors towards specula- Prešov, which is for now the last regional capital office complex, Twin City, comprising three Rover (JLR) is building a new plant. Mean- tive (meaning without pre-lease contracts) in Slovakia without a regional shopping centre. buildings, as well as an 89-metre-high office while, in Bratislava two new retails projects are development, especially in Senec and Žilina. Contrary to Prešov, the situation in tower, Twin City Tower. Nearby, the financial in the pipeline. The market for office space has “Some parks such as Lozorno or Malacky Bratislava is completely different as the capital group Penta Investments is preparing to build a registered a drop of the vacancy rate below 7 are starting to encounter full occupancy without registers as one of the largest per capita retail complex designed by the recently-deceased Iraqi- percent and the residential market continues to any extension possibilities and thus a new areas in central and eastern Europe – 1,400 British architect Zaha Hadid. Originally known be driven by low-interest mortgages. development is planned mainly to fill the gap of square metres per 1,000 inhabitants. as Čulenova, it was recently re-christened Sky available A-class industrial properties in Bratis- Despite this, there are two huge projects Park and will consist of tower blocks with apart- JLR drives market lava,” said Horváth, estimating that speculative in the pipeline – the extension of the mixed- ments and offices. Also close to the bus station,

Economic growth in Slovakia exceeds 3 construction is accounting for as much as half of use-property Eurovea and the Stanica Nivy the developer YIT is reconstructing Cvernovka, Courtesy of Aeromobil Source: percent per year and is expected to further ac- current construction in Slovakia. development, which will combine a bus a former thread factory, into a new residential Development & Consultancy at Cushman & of growing prices, strong demand and a possible celerate with the arrival of the British carmaker Prologis remains the biggest player on the station with a mall. They will together bring complex. Wakefield Slovakia. increase in interest rates in the future. JLR. market with a 34-percent share of total indus- approximately 100,000 square metres of Much less information is known about the “What is perceived very positively is the Daniela Danihel Rážová, director of the “The development in the construction of trial stock, according to the market overview for additional retail space between 2018 and 2020, expansion of Eurovea further towards the Apollo value developers are pinning towards reaching real estate agency Bond Reality and head of new industrial and logistics space can be evalu- the first half of 2016 by Colliers International. according to Kúth. Bridge. The €350-million successful first phase the highest green certifications,” Cihová told The Slovakia’s Association of Real Estate Brokers, ated very positively,” Martin Hudák, senior It was followed by CTP with 13 percent and The €270-million Stanica Nivy will replace of the development on the embankment of the Slovak Spectator. agrees that demand still exceeds supply, but that consultant at the Industrial Agency of Cushman P3 with 10 percent. In addition, the Australian the existing Mlynské Nivy bus station, which Danube River, with a park and promenade, The vacancy rate in Bratislava decreased to October brought the reduced interest of clients & Wakefield Slovakia told The Slovak Spectator. group Macquarie entered the Slovak market in was built in the 1970s. It will combine an opened in 2010. The developer has thus far 6.88 percent by the end of the third quarter of compared with previous months. He cites the growing purchasing power of con- 2016 when it acquired a €79m portfolio of lo- international bus terminal, a mall, a fresh refused to specify the financial parameters or the 2016, a drop by 0.55 percentage points over the “This may be an indication that clients are sumers and the automotive industry as reasons gistics and light industrial assets in Slovakia and market and a 115-metre tower with offices. time frame of the expansion. quarter, according to Cushman & Wakefield. no longer responding to the current prices and behind these favourable developments. the Czech Republic from HB Reavis. It now has As it still has not obtained all the necessary “The extension will copy the existing Colliers, while pointing out that the vacancy are starting to wait with their acquisition or that While the construction of a new plant for approximately 7 percent of all modern A-class permits, the start of construction is not scheme,” Peter Korbačka of J&T financial rate was as high as 11.78 percent during the first the prices are becoming unrealistic for them,” JLR in an industrial park close to Nitra started industrial premises in Slovakia. expected earlier than in 2017 while it should group, which bought Eurovea in 2014, said in half of 2015, ascribed the decrease in the rate to said Danihel Rážová. in mid-September 2016, the market is still last for about three years. an interview with the Across magazine. “It will strong leasing activity and weaker development Both Bošácký and Danihel Rážová agree waiting to see which suppliers JLR will choose. Retail market: Bratislava saturated “Re-building the station as a transport be a logical enlargement of the project by addi- competition in recent years. that the supply of new apartments regarding the Tomáš Horváth, head of industrial and logistics Over the past year developers filled the re- junction is a sign that exactly matches a naturally tional gross leasable area of 25,000 square metres “Vacancy rates are expected to increase in required prices and structures is far from meet- premises at Colliers International in Slovakia, maining free places for new retail projects, with high concentration of people not only in of prime retail space.” next two years due to new projects in prepara- ing demand. This is also proven by the findings estimates that some 280,000 square metres of the trend for future years shifting to modernisa- Bratislava but also in other cities,” said Kúth. tion and tenants vacating older properties,” of analysts from Bencont Investments. warehouse space is at stake. tions and extension of existing retail spaces. With Stanica Nivy, the investor, HB Reavis, Green solutions for offices Colliers wrote in its market overview for the first “Only 10 percent of vacant apartments A decreasing vacancy rate and new pro- half of 2016. are completed and prepared for moving in,” jects coming to the market, often with green Meanwhile, 2016 was a landlord’s market, Bencont Investments wrote in its analysis of the solutions, were the main changes to the office Surový said. Bratislava residential market in the third quarter market as demand for new offices drives new “But I think that the advantages will start of 2016. “Thus a common consumer actually construction in Bratislava. to balance and we will again see a slower tenant has almost no possibility to buy a cheap and “The office market reports a high activity market that will bring several opportunities for completed apartment.” on the side of tenants as companies are looking companies for relocations,” said Surový. Danihel Rážová expects that in 2017 poten- at rented offices not only from the viewpoint of tial buyers will have similar problems. costs, but they equally watch also what the new Low interest rates “Large projects are entering the market, but space may bring them from the viewpoint of in- The historically low interest rates and aggres- these have not announced exact prices yet,” said creases in effectiveness and employee satisfaction, sive mortgage refinancing campaigns by local Danihel Rážová. “Thus the shortage of smaller the availability of amenities in the area and so banks propelled the residential market in 2016, and cheaper residential real estate will continue.” on,” Dalibor Surový, head of the Office Agency but market watchers now expect a change. Bošácký also records that the trend of rental and Tenant Representation at JLL Slovakia told “Strong demand, that has been dominating housing has been arriving in Slovakia from the The Slovak Spectator. for already two years grew even more over the western world. The year 2016 brought several interesting past year,” Ján Bošácký, senior research analyst at “While most people in Slovakia wish to own projects to the Bratislava office market, like Twin JLL, told The Slovak Spectator in mid-October, the real estate, this phenomenon brings one fun- City by HB Reavis, the Rosum project by the adding that developers responded with a higher damental disadvantage and this is less flexibility,” investment group Penta and the Uniq project supply of apartments as they want to exploit the Bošácký said. by Cresco Group, said Katarína Cihová, head of current mood of potential buyers who are afraid By Jana Liptáková, Spectator staff Source: VW Source: Real estate prices 2016 60

Residential properties - SALE; Source: NARKS, 2016

5 or more Family house Studio 1 - room 2 - room 3 - room 4 - room Villa Family house rooms plots

Average price Average price in € Average price in € Average price in € Average price in € Average price in € in € Average price in € Average price in € Price in €/m2

Price in €/m2 Price in €/m2 Price in €/m2 Price in €/m2 Price in €/m2 Price in €/m2

76,544 118,527 157,473 237,326 293,443 441,888 Bratislava I 1,064,823 667,610 675 2,871 2,857 2,486 2,441 2,435 2,416

63,840 79,089 118,497 140,698 168,985 231,848 Bratislava II 532,500 260,392 224 2,253 2,164 2,123 1,869 1,843 1,756

64,273 89,583 121,121 167,424 250,704 318,378 Bratislava III 683,280 362,298 289 2,602 2,436 2,203 2,038 1,852 1,868

56,121 77,508 115,696 134,614 164,592 475,699 Bratislava IV 715,538 463,361 196 2,089 2,068 2,094 1,847 1,799 2,202 real estate 80,106 81,515 118,498 130,310 142,974 255,036 Bratislava V 699,900 255,953 199 2,338 2,225 2,096 1,805 1,681 1,869

26,994 39,249 64,349 73,349 120,772 151,398 Banská Bystrica 300,571 138,174 52 1,229 1,222 1,101 1,022 1,147 1,094

41,261 49,412 80,375 96,751 130,002 202,346 Košice I 324,250 217,991 122 1,688 1,296 1,361 1,271 1,211 1,351

41,300 49,047 62,705 82,743 97,003 297,000 Košice II 316,000 241,885 88 1,412 1,461 1,251 1,246 1,222 1,089

36,305 55,858 64,929 83,144 110,315 N/A Košice III N/A 174,429 81 1,528 1,452 1,213 1,202 1,173 N/A

39,000 58,495 72,541 86,091 134,985 N/A Košice IV 283,333 201,681 88 1,696 1,489 1,355 1,238 1,328 N/A

46,524 62,623 80,211 89,897 121,307 152,500 Nitra 210,863 130,128 46 1,922 1,594 1,318 1,191 1,144 1,387

27,900 41,540 58,794 67,698 78,305 106,495 Prešov 247,167 116,958 34 1,329 1,019 1,053 963 915 676

32,950 41,292 56,656 68,442 102,494 189,500 Trenčín 199,500 108,257 40 1,170 1,016 987 971 944 1,541

35,029 48,606 67,217 83,758 113,986 118,556 Trnava 269,767 129,778 54 1,239 1,392 1,242 1,155 1,144 1,069

32,251 53,792 68,623 89,008 99,563 104,667 Žilina 271,800 137,255 83 1,432 1,411 1,122 1,125 1,027 1,040

Residential properties - RENT (Price in € per month); Source: NARKS, 2016 Studio 1 - room 2 - room 3 - room 4 - room 5 or more rooms Villa Family house

Bratislava I 377 499 676 973 1,619 1,688 4,024 2,336

Bratislava II 369 418 536 676 881 1,216 390,650 1,478

Bratislava III 364 411 546 758 1,047 1,229 2,433 1,920

Bratislava IV 349 397 511 641 1,107 1,878 3,096 2,026

Bratislava V 392 402 542 657 831 937 N/A 1,573

Banská Bystrica 275 332 439 600 777 1,459 N/A 667

Košice I 300 371 529 670 693 1,200 N/A 1,431

Košice II N/A 355 535 508 648 N/A N/A 997

Košice III N/A 300 467 590 N/A N/A N/A N/A

Košice IV N/A 365 480 598 N/A 1,000 N/A 950

Nitra 288 362 490 563 631 N/A 2,500 963

Prešov 240 293 350 421 565 310 N/A 1,650

Trenčín N/A 250 399 439 485 N/A N/A 525

Trnava 263 347 447 582 620 260 N/A 702

Žilina 300 343 467 622 1,117 675 4,000 1,055 real estate

Industry & storage, Office and Retail Space - RENT & SALE (Price in €); Source: NARKS, 2016; * Source: CBRE, 2016 Banská Bystrica Bratislava Košice Nitra Prešov Trenčín Trnava Žilina Offices/ Rent (price per2/month) m

lower standard 3 4 3 3 3 3 2 3

mid standard 6 8 7 6 4 5 6 6

high standard 8 12 (12-16 centre / 8-13 city)* 11 11 7 8 10 8

Offices/ Sale (price per2) m

lower standard 700 990 700 950 550 600 650 700

mid standard 1,100 1,550 1,200 1,500 750 800 950 1,000

high standard 1,600 2,700 1,950 2,200 1,300 1,400 1,800 1,400

Retail space/ Rent (price per2/month) m

lower standard 3 4 4 3 3 2 4 4

mid standard 6 10 7 8 6 6 7 8

high standard 11 20 16 15 12 12 12 12

Industry & storage/ Rent (price per2/month) m

lower standard 1 2 2 2 1 2 2 1

mid standard 2 4 3 3 2 3 3 2

high standard 3 6 4 4 3 4 4 4

Industrial parks / Rent in high standard (price per m2/month)*

Warehouse & assemly space 3.5-5 3.3-4 3.5-4.2 3.3-4.2 3.5-4 3.5-4.2 3.2-3.65 3.5-4.2

Office space - service charge incl. 8-10 8.7-10.2 7-9 3.5-10 + service charges 6-8 + service charges 5.5-9 + service charges 8.55-9.75 8-9 61 Plots for industrial projects / Sale (price per2) m

Industrial zones 49 104-127 (city) 53-101 (city) 26 36 33 43 77

Industrial parks 30-40* 80-150 (city) / 45-80 (region)* 25-50* 25-40* 25-50* 35-50* 25-60* 30-65*

Investment_na vysku_tabulky.indd 3 18. 11. 2016 14:12:39 62 construction firms real estate consulting 63

Názov (v abecednom poradí) Adresa www Generálny riaditeľ

Mesto PSČ Telefón Telefón

E-mail Fax E-mail

Company (Listed alphabetically) Address www Chief executive officer Názov (v abecednom poradí) City, Postal code Phone Phone Projects in 2015 / 2016 Major clients Quality certificates Adresa www Riaditeľ ontract breakdown (%) Public/Private/Foreign breakdown ontract

E-mail Fax E-mail of establishment / No. employees Year zamestnancov Rok založenia v SR / Počet Revenues 2015/ 2014 2014 v r. 2015 / Tržby v r. Tržby C Skladba objednávok (%) Verejné/Súkromné/Zahr. Civil /Občianske Residential /Obytné Industrial /Priemyselné works /Vodné Water Pipelines /Potrubné /Dopravné Transport /Podzemné Underground /Ekologické Environmental /Rekonštrukcie Property renovation Zákazky v r. 2015 / 2016 Hlavní klienti Certifikát kvality Mesto PSČ Telefón Telefón 1 Chemkostav, a.s. Tibor Mačuga E-mail Fax E-mail K. Kuzmányho 22 www.chemkostav.eu +421(0)56 688-0811 1996 54.08 mil. EUR - Highway R2 Zvolen vý- Národná diaľničná ISO 9001, 14001; +421(0)56 688-0811 chemkostav@ 190 47.94 mil. EUR - chod-Pstruša, residential spoločnosť, Delta OHSAS 18001; ISO/ Company (Listed alphabetically) Michalovce 071 01 l l l l l l l l l [email protected] +421(0)56 688-0833 chemkostav.eu - project Južné mesto Construction IES 27001 Address www Chief executive officer Bratislava City, Postal code Phone Phone Other Major clients

E-mail Fax E-mail in of establishment in SR / No. branches Year SR (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR (Počet vo svete) / Jazyky krajín advisors No. of employees / Slovak Foreign poradcov slovenských / zahr. zamestnancov / Počet Počet Management consulting / Manažment Financial & tax consulting / Financie a dane poradenstvo Legal advice / Právne Human capital consulting / Ľudský kapitál Marketing & PR consulting / a IT consulting / Real estate consulting / Nehnuteľnosti Iné Hlavní klienti 2 Doprastav, a.s. Juraj Androvič 1 CBRE s.r.o. Tomáš Hegedüš Drieňová 27 www.doprastav.sk +421(0)2 4827-1500 1993 311.90 mil. EUR NA Highway D1: Hričovské Národná diaľničná spo- STN EN ISO Nám. 1. mája 18 www.cbre.sk +421(0)2 3255-3302 2005 120 NA IAC, Lear, Panasonic, DHL, Shell, AT&T, Accen- Bratislava - Ružinov 826 56 +421(0)2 4827-1500 sekrgen@ 1,284 166.80 mil. EUR NA Podhradie-Lietavská ločnosť; ŽSR; Slovenská 9001:2009; STN EN Bratislava - Staré Mesto 811 06 +421(0)2 3255-3318 tomas.hegedus@ 3 / 66 30 ture, Johnson Controls, IBM, Eset, SwissRE, l l l l l l l l l l [email protected] +421(0)2 4827-1563 doprastav.sk NA Lúčka; modernisation of správa ciest ISO 14001:2005; [email protected] cbre.com E, Cr, F, H, 0 Dell, Oracle, Novartis, HB Reavis railways OHSAS 18001:2009 G, R, 3 DÚHA, a.s. Martin Holub 2 Colliers International spol. s r.o. Ermanno Boeris Čapajevova 29 www.duhaas.sk +421(0)2 5810-7906 1994 69.80 mil. EUR - Highway D1: tunnel Mesto Košice, Národná ISO 9001:2009; ISO Suché Mýto 1 www.colliers.com +421(0)2 5998-0980 2003 17 real estate financing consultancy NA Prešov 080 01 +421(0)51 771-5605 duha@ 330 28.50 mil. EUR - Višňové-Dubná skala; diaľničná spoločnosť, 14001:2005; ISO l l l l l l l l Bratislava - Staré Mesto 811 03 +421(0)2 5998-0980 ermanno.boeris@ 1 / 66 12 l [email protected] +421(0)51 773-3912 duhaas.sk - IKD Košice (tram line Slovenská technická 18001:2008 [email protected] +421(0)2 5998-0981 colliers.com E, G, I, S, 3 in Košice) univerzita 3 Cushman & Wakefield Property Services Slovakia, s.r.o. Cristina Dumitrache 4 EUROVIA SK, a.s. Róbert Šinály Pribinova 10 www.cushmanwakefield.sk +421(0)2 5920-9340 2005 25 investment: acquisitions/sales, Euromax,Reico,P3,Prologis,Goodman,Logicor, Osloboditeľov 66 www.eurovia.sk +421(0)55 726-1101 1952 189.96 mil. EUR 68 Národná diaľničná ISO 9001, 14000, Bratislava - Staré Mesto 811 09 +421(0)2 5920-9333 cristina.dumitrache@ 1 / 60 16 valuation, property and project MSeven,MTK,Eurovea, CA Immo,Immofinan- Reconstruction of l Košice - Barca 040 17 +421(0)55 726-1101 sekrss@ 525 82.50 mil. EUR 32 l l l l highways & roads, sewer spoločnosť; Slovenská 18000 [email protected] cushwake.com E, F, G, R, I, 1 management z,Mint Investment,Multi Development,Pen- [email protected] eurovia.sk 0 plants správa ciest; VÚC ta,J&T,NEPI 5 INGSTEEL, spol. s r.o. Anton Bezák 4 Gleeds Slovensko Kamil Baďo Tomášikova 17 www.ingsteel.sk +421(0)2 4826-9111 1991 68.80 mil. EUR 40 Shopping centre Združenie Vokswagen - ISO 9001:2008; ISO Vysoká 26 www.gleeds.com +421(0)2 5292-2320 1999 35 management and construction Immocap, Ballymore Properties, Slovenská spo- Bratislava - Ružinov 820 09 +421(0)2 4826-9132 ingsteel@ 224 53.40 mil. EUR 60 Vajnoria; bridges Vršok Zipp Bratislava a Ingsteel; 14001:2004; ISO Bratislava - Staré Mesto 811 06 +421(0)2 5292-2320 kamil.bado@ 1 / 22 30 l l consulting riteľňa, CBE Development, Orco, J&T, Discovery l l l [email protected] +421(0)2 4826-9102 ingsteel.sk 0 & Čadečka - highway Europa SCZV a. s. 18001:2007 [email protected] +421(0)2 5292-2341 gleeds.sk E, Bul, F, G, I, NA Group, Tesco, TriGranit, Penta D3; Panorama city 5 Jones Lang LaSalle s. r. o. Miroslav Barnáš 6 Inžinierske stavby, a. s. Philippe Corbel Hodžovo nám. 1/A www.jll.sk +421(0)2 5920-9912 2006 30 investment, valuation, property NA Priemyselná 6 www.iske.sk +421(0)55 633-2157 1951 152.50 mil. EUR - Highway R2: Ruskovce- Národná diaľničná ISO 9001:2008, Bratislava - Staré Mesto 811 06 +421(0)2 5920-9911 miroslav.barnas@ 1 / 80 35 l l l and project management, market Košice - Staré Mesto 042 45 +421(0)55 633-2157 iske@ 743 124.80 mil. EUR - -Pravotice, swimming spoločnosť; Slovenská 14001:2004; OHSAS [email protected] +421(0)2 5920-9910 eu.jll.com E, H, G, R, Pl, 0 research l l l l l l l [email protected] +421(0)55 633-7831 iske.sk - pool ČH Košice správa ciest; VVS, a .s., 18001:2007 ISO 6 Modesta Real Estate, s.r.o. Peter Miščík mesto Košice 10006:2004 Hviezdoslavovo námestie 7 www.modestagroup.com +421(0)2 3240-8888 2013 2 brokerage, corporate real estate Sony, Rolls-Royce, Prologis, Karimpol, Baker 7 SAG Elektrovod, a.s. Gabriel Szalay, Milan Ferenc Bratislava - Staré Mesto 811 02 +421(0)2 3240-8888 miscik@ 1 / 2 1 l services, valuation, investment Tilly International, Czech Airlines, Otis, Aston [email protected] modestagroup.com E, G, 2 Lloyd & Partners, Wolters Kluwer Prievozská 4C www.sag.eu/sk +421(0)2 5025-1100 1949 103.40 mil. EUR - Overhead transmission SEPS, ČEPS, E.ON, ČEZ ISO 9001, ISO 14001, Bratislava - Ružinov 824 66 +421(0)2 5025-1111 gabriel.szalay@ 509 83.90 mil. EUR - lines, electrical assembly ISO 3834-2, OHSAS l l [email protected] +421(0)2 5296-1820 sag.eu; milan.ferenc@ - works 18001 sag.eu 8 Skanska SK a.s. Magdaléna Dobišová Krajná 29 www.skanska.sk +421(0)2 4829-5111 1999 113.60 mil. EUR 50 Highway D1: Budimír-Bi- NDS a.s; SSC; ŽSR; BVS; ISO 9001:2009, Bratislava - Ružinov 821 04 +421(0)2 4829-5111 magdalena.dobisova@ 724 66.70 mil. EUR 32 l l l l l l l l l dovce; reconstruction of municipalities; private 14001:2005; OHSAS [email protected] +421(0)2 4829-5112 skanska.sk 18 highways & roads investors; developers 18001:2008 9 STRABAG Pozemné a inžinierske staviteľstvo s.r.o. Juraj Hirner Mlynské nivy 61/A www.strabag-pozemne.sk +421(0)2 3262-1111 1963 454 mil. EUR - CITY ARENA Trnava, VW; TESCO Stores; ISO 9001:2015, ISO Bratislava - Ružinov 820 15 +421(0)2 3262-1111 juraj.hirner@ 699 234.70 mil. EUR - Nemocnica sv. Michala Slovenské elektrárne; 14001:2015, BS l l l l l l [email protected] +421(0)2 3262-3341 strabag.com - Bratislava, Zuckerman- INA; IKEA; Real Estate; OHSAS 18001:2007 del Bratislava Gebrüder Weiss; NFŠ 10 Strabag s.r.o. Branislav Lukáč Mlynské nivy 61/A www.strabag.com +421(0)2 3262-1026 1991 251.50 mil. EUR 90 D1 Fričovce-Svinia, NDS; SSC; ŽSR; VÚC; ISO 9001, 10006, Bratislava - Ružinov 825 18 +421(0)2 3262-1040 strabag@ 659 169.90 mil. EUR 10 H.Podh.-L.Lúčka; D3 Ministry of Economy 14001, 27001; OHSAS l l l l l l l l No. 1 Real Estate Classifieds in Slovakia [email protected] +421(0)2 3262-3341 strabag.com 0 Svrčinovec-Skalité, R2 18001 Pstruša-Kriváň 11 VÁHOSTAV - SK, a.s. Marián Moravčík Priemyselná 6 www.vahostav-sk.sk +421(0)2 4922-6204 1956 227.50 mil. EUR - Highways: D3 NDS, a.s.; SEVAK, a.s.; ISO 9001:2008, Bratislava - Ružinov 821 09 +421(0)41 517-1111 sekretariat_gr@ 1,194 227.50 mil. EUR - Srvčinovec-Skalité, R2 NR SR; ŽSR; SVP, š.p. 14001:2004; BSi SAS l l l l l l l l l [email protected] vahostav-sk.sk - Pstruša-Kriváň, D1 Bratislava; SSC 18001:2007 Dubná Skala-Turany NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team

REAL ESTATE ADVISORS Our specialised knowledge of Slovakia market opens up great investment1/4 opportunities for our clients.colliers SP060197/001 MAIN +421 2 59 980 980 EMAIL [email protected] FAX +421 2 59 980 981 www.colliers.com Accelerating success. SP016096/001 64 developers real estate agencies 65

Provided services / Poskytované služby Active in sectors /Špecializácia na sektory

Názov (v abecednom poradí) Názov (v abecednom poradí) Adresa www Generálny riaditeľ ) 2 Mesto PSČ Telefón Telefón Adresa Riaditeľ / Znalecký posudok / MO a zábava / Riadenie projektu

/ Priemysel. a logistické Mesto PSČ www Telefón

E-mail Fax E-mail / Pojektový manažment / Pojektový

/ Správa nehnuteľností / Správa / Logistika a priemysel / Plánovanie projektu E-mail Telefón E-mail / Vyhľadanie investora / Vyhľadanie

/ Vyhľadanie pozemkov / Vyhľadanie Fax

Company (Listed alphabetically) / Kúpa - predaj / Obytné Address www Chief executive officer Company (Listed alphabetically) / Kancelárske City, Postal code Phone Phone / Iné Ongoing and completed projects Address www Chief executive officer / Obchodné priestory otal property area (sq m) otal property area Residential Industrial & logistics Retail & entertainment Office Other / Iné Investor search Land search planning Project management Project RE management Other E-mail Fax E-mail of establishment / Number of employees / Year Country of origin zamestnancov / Rok založenia v SR Počet vlastníctva Štruktúra T (m projektov Celková výmera Prebiehajúce a ukončené stavby City, Postal code Phone Phone / Architektonické služby services / Architektonické rchitectural roject management roject

E-mail Fax E-mail in SR / of establishment in SR / Languages No. branches Year No. of employees in SR pobočiek zamestancovRok založenia / Jazyky Počet v SR / Počet v SR - sale Purchase Leasing agency / Lízingová spoločnosť (mkt. value) / Oceňovanie Valuation (RICS mkt. value) / Oceňovanie RICS Valuation (expert opinion) Valuation estate / OdkúpenieBuying real nehnut. A nehnuteľnosti / Správa Property & facility P t v oblasti realí RE consultancy / Poradenstvo Relocation services / Relokačné služby - sale (%) / Commision: rent Commision: purchase prenájom provízie: (%) / Výška kúpa - predaj provízie: Výška agents / # of Residential # of Commercial agentov na obchodyPočet s podnikateľskými priestormi / Počet agentov na obchody s obytnými priestormi Residential / Rezidenčné objekty Office / Kancelárie Retail Logistics & industry / Hotely a voľný čas Hotels & leisure 1 CEHIP s.r.o. Alex Hubrecht 1 1. národná aukčná spoločnosť, s.r.o. Adriena Litomerická Doležalova 1 www.cehip.eu +421(0)917 702-356 1 55,000 m² 0 100 0 0 0 1 hall of 6,000m² is rented by CESAM sro; 2 halls Panská 27 +421(0)903 703-850 3-5% www.1nas.sk 1993 8 Nitra 949 01 +421(0)917 702-356 alex.hubrecht@ 2007 l of 4,000m² by PALL sro; 8,000m² aivalable Bratislava - Staré Mesto 811 01 [email protected] 8.3% - 1 month +421(0)903 473-113 E, F, H, G, R, l l l l l l l l 8 l l l l l [email protected] +421(0)37 793-0088 rft.be Belgium [email protected] rent 1 / 2 2 CRESCO GROUP, a.s. Štefan Beleš 2 ADMS, s. r. o. Stanislav Haviar Poštová 3 www.cresco.sk +421(0)2 2086-4321 35 300,000 m² 80 0 10 10 0 Slnečnice, Staromestská Offices (UNIQ by Bratislava - Staré Mesto 811 06 +421(0)2 2086-4321 beles@ 1992 Cresco), III Towers, Galéria Delta, Apartment Kuzmányho 8 www.adms.sk +421(0)903 711-394 1998 - 3 [email protected] crescogroup.sk Slovakia l l houses in Oščadnica, residential houses Žilina 010 01 +421(0)903 711-394 [email protected] E, G, l l - - l l l l in Rusovce [email protected] 1 / 5 3 Arthur Real Estate Company s.r.o. Erik Mikurčík 3 CTP Invest SK, s.r.o. Remon L. Vos Laurinská 2 www.arec.sk +421(0)911 444-820 2000 2-5% 4 Bratislava - Staré Mesto 811 01 +421(0)911 444-820 [email protected] E, Cr, H, G, Laurinská 18 www.ctp.eu +420(0)565 535-565 4 250,000 m² 0 86 0 14 0 CTPark Bratislava, CTPark Trnava, CTPark l l l l l l l l l 1 month rent 29 l l l l l Bratislava - Staré Mesto 811 01 +421(0)911 059-593 remon.vos@ 2007 Voderady, CTPark Zilina, CTPark Nitra [email protected] R, I, S, [email protected] ctp.eu The Czech Rep. l l l l l l 2 / 20 4 Axis real, spol. s r.o. Ľuboš Sigl Koceľova 17 www.axisreal.sk +421(0)2 5556-1936 2002 2% 2 4 HB Reavis Group Pavel Trenka Bratislava - Ružinov 821 08 +421(0)2 5556-1936 [email protected] E, G, R, l l l l 1 month rent 10 l l l l Karadžičova 12 www.hbreavis.com +421(0)2 5830-3030 500 862,500 m² 0 25 15 65 0 Nivy Mall & Bus Station, Twin City, City Business [email protected] +421(0)2 5556-1936 2 / - Bratislava - Ružinov 821 08 +421(0)2 5830-3030 hbreavis@ 1993 Centre, Apollo Business Centre, Aupark Tower, 5 BOND Reality, s. r. o. Daniela Danihel Rážová l l l l l [email protected] +421(0)2 5830-3000 hbreavis.com Slovakia Aupark shopping centres, etc. Mlynské Nivy 58 www.bondreality.sk +421(0)905 333-333 2001 by agreement 25 Bratislava - Ružinov 851 02 +421(0)905 333-333 [email protected] E, Bul, F, H, l l l l l by agreement 25 l l l l l +421(0)2 6345-1248 G, R, I, 5 J&T REAL ESTATE, a.s. Pavel Pelikán [email protected] 1 / 20 RIVER PARK, Dvořákovo nábrežie 10 www.jtre.sk +421(0)2 5941-8200 86 525,000 m² NA NA NA NA NA River Park, Westend Square, Panorama City, 6 CASSOVIA REALITAS Košice s.r.o. Jozef Tomčo Bratislava - Staré Mesto 811 02 +421(0)2 5941-8200 pelikan@ 1996 Grand Hotel Kempinski High Tatras, Westend l l l l l l Národná trieda 206/75 www.cassoviarealitas.sk +421(0)907 190-000 2007 3% 12 [email protected] +421(0)2 5941-8201 jtre.sk Slovakia Gate, Zelené Terasy Devín, Karloveské rameno, Košice - Sever 040 01 +421(0)917 333-134 [email protected] E, H, G, I, l l l l l l 1 month rent 13 l l l Zuckermandel [email protected] +421(0)55 728-8586 5 / 7 6 Karimpol International Slovakia k.s. Edik T. Plätzer 7 Compra s.r.o. Dagmar Lešková, Martina Kapušová Obchodná 2 www.karimpol.com +421(0)2 5720-6011 3 68,000 m² 0 100 0 0 0 Bratislava Logistics Park, Business Park Senec Mierová 83 www.compra.sk +421(0)2 4342-7088 2004 3% 6 Bratislava - Staré Mesto 811 06 +421(0)2 5720-6011 office.sk@ 2004 Bratislava - Ružinov 821 05 +421(0)2 4342-7088 [email protected] E, G, I, l l l l l 1 month rent 6 l l l l l [email protected] +421(0)2 5720-6019 karimpol.com Austria l l l l l [email protected] +421(0)2 4342-7088 1 / 8 8 Direct Real, spol. s r.o. Marian Patak Žitná 1 www.directreal.sk +421(0)918 410-663 2007 3% 50 7 Penta Investments, s.r.o. Jozef Oravkin Bratislava - Rača 831 05 +421(0)905 338-877 [email protected] E, G, l l l l l l 100% 180 l l l l Digital Park II, Einsteinova 25 www.pentainvestments.com +421(0)2 5778-8111 130 250,000 m² 20 0 10 70 0 Digital Park, Bory Retail Zone, Bory Mall, [email protected] 36 / 150 Bratislava - Petržalka 851 01 +421(0)2 5778-8111 bratislava@ 1994 l l l l l Záhorské sady, Nová terasa, Florentinum, 9 HERRYS Filip Žoldák [email protected] pentainvestments.com Slovakia Waltrovka, Rezidencie Pri Mýte Žilinská 7-9 www.herrys.sk +421(0)948 555-478 2011 5% 15 Bratislava - Staré Mesto 811 05 +421(0)948 217-888 [email protected] E, G, R, l l l l l 5% 15 l l 8 Prologis Martin Polák [email protected] 3 / 15 Diaľničná cesta 24 www.prologiscee.com +421(0)904 661-044 - 520,000 m² 0 100 0 0 0 Prologis Park Bratislava, Prologis Park Galan- 10 IURIS, spol. s r.o. Pavel Bagin Bernolákovo 903 01 +421(0)904 661-044 mpolak@ 2005 l l l l ta-Gáň, Prologis Park Nové Mesto Panenská 6 www.iuris.sk +421(0)2 5998-0599 1991 by agreement 1 [email protected] +421(0)2 3217-0001 prologis.com USA Bratislava - Staré Mesto 811 03 +421(0)2 5998-0580 [email protected] E, G, l l l l l by agreement 4 l l l l 9 Strabag Development s. r. o. Peter Černík [email protected] +421(0)2 5998-0590 1 / 17 11 LEXXUS, a.s. Slávka Michaličková Mlynské nivy 61/A www.strabagdevelop- +421(0)2 3262-2821 6 77,400 m² 80 0 10 10 0 Manhattan Bratislava, Zipava Stupava, Miletičova 5 www.lexxus.sk +421(0)2 3200-0100 2004 2-3% 20 Bratislava - Ružinov 820 15 ment.sk peter.cernik@ 1993 Vienna Gate Bratislava, Rezidencie Machnáč Bratislava - Ružinov 821 08 +421(0)911 988-000 slavka.michalickova@ l l l l E, I, l l l l 1 month rent 25 l l l l l [email protected] +421(0)2 3262-2821 strabag.com Austria Bratislava [email protected] lexxus.sk +421(0)2 3262-3352 1 / 5 10 YIT Slovakia a.s. Milan Murcko 12 MADISON SK, spol. s r.o. Jozef Semjan Prešovská 39 www.madison.sk +421(0)905 659-156 3-4 % Račianska 153 www.yit.sk +421(0)2 5027-7110 149 - 80 0 10 10 0 Tarjanne Dúbravka, Byty Villinki, Byty Kivikko, 1993 1 Bratislava - Ružinov 821 08 +421(0)2 5556-9798 [email protected] 0.5-1 month Bratislava - Rača 831 54 +421(0)2 5027-7110 info@ 2010 Tammi Dúbravka; Offices: Reding Tower 2; Con- E, G, R, l l l 2 l l l l l l [email protected] rent [email protected] yit.sk Finland struction: Slovak Embassy in Finland, Hotel Abba 1 / 3 Národná asociácia realitných kancelárií Sloven- 13 Ján Palenčár ska Galvaniho 17/C www.narks.sk +421(0)902 952-391 1992 - - Bratislava - Ružinov 821 04 +421(0)902 952-391 [email protected] E, G, l - - l l l l l [email protected] 150 members Hub for your operations / 12 14 Pergo s.r.o. Jakub Demáček in Central European region Mliekarenská 7 www.pergo.sk +421(0)908 788-878 2007 3% - Bratislava - Ružinov 821 09 +421(0)2 2090-2022 [email protected] E, G, l l l l l l 1 month rent 4 l [email protected] 1 / 10 15 RE/MAX Slovakia Richard Churý READY TO BUILD Cesta na Senec 2/A www.re-max.sk +421(0)2 4924-4301 2006 by agreement 300 2 Bratislava - Ružinov 821 04 +421(0)2 4924-4301 [email protected] E, l l by agreement 300 l l l l l  8.000 m industrial and warehouse premises built [email protected] 46 / 4 FOR according to client needs 16 RK SPIRIT, s.r.o. Dušan Štric Belopotockého 720/2 www.rkspirit.sk +421(0)915 797-979 2002 3-5% 6 RENT  High quality industrial buildings built according Western Liptovský Mikuláš 031 01 +421(0)915 797-979 [email protected] E, Cr, R, Pl, Sl, l l l l l 1-3 month rent 6 l l l l l Your business [email protected] 5 / 9 European standards at very competetive prices 17 Top Reality - Real Estate - Immobilien, s.r.o. Daniela Maxim Černyševského 40-46 www.topreality.net +421(0)905 255-402 2003 2-5% 2 Bratislava - Petržalka 851 01 +421(0)905 255-402 daniela.maxim E, G, R, I, l l l l l 1 month rent 2 l l l l CEHIP Industrial Park, Hlavná 1795/58, Vráble, Slovak Republic, [email protected] @topreality.net 1 / 2 www.cehip.eu

SP06102/001 advantage NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team 66 Foreigners in Slovakia Foreigners in Slovakia 67

What foreigners ask befo- Q: What type of residence permit do I There are also some specific conditions FAQ: EU citizens - dealing need to be able to get a trade licence? applicants need to fulfil, based on the type of with immigration authorities re relocating to Slovakia? Trade licences and doing A: Neither EU/EEA and Swiss citizens nor trade licence: for a craft trade licence applicants non-EU/EEA citizens need a residence permit are required to have a certificate issued by an Q: Am I obliged to register with the authorities as a Q: Is Slovakia safe? What are the safest and the most citizen of another EU member state living in Slovakia? dangerous places for living in Bratislava? in Slovakia to obtain a trade licence, apart education facility stating they are professionally A: You are required to report your stay in Slovakia wi- A: Slovakia ranked 24th out of 163 countries in the 2016 business in Slovakia from regulated trades and crafts trades, where competent in a selected craft; for a fixed trade thin 10 days of entering the country (if you are staying Global Peace Index, and 17th out of the 36 countries in residence in Slovakia is required. However, licence – applicants need to have confirma- in a hotel, they report for you). You can stay in Slovakia Europe. The crime, violence and vandalism rate, based up to 90 days without requesting a residence permit at on data from Eurostat is one of the lowest in Europe. non-EU/EEA citizens need a residence permit tion of their professional competence acquired the Alien Police Department. As in other bigger cities in Europe, also Bratislava has in Slovakia if they are willing to run their busi- outside of education. Q: Where do I register? Who issues the residence its small areas with poorer reputations the Stavbárska permit in Slovakia? A: In Slovakia, the alien police de- street, referred to as Pentagon by locals, in the Poduna- ness legally. partment acts as the immigration authority and receives jské Biskupice borough and the Kopčianska street in the EU/EHP and Swiss citizens can start run- Q: What documents do I need when ap- residence permit requests. Petržalka district. The most dangerous places in Slovakia ning a business immediately after obtaining a plying for a trade licence? Q: Can I also register for residence prior to my arrival, are Bratislava II district, Košice, and Trnava, as well as outside Slovakia? A: No, you are only able to register with Hlohovec and Piešťany, according to new crime maps trade licence. A: All applicants need to fill in a form, the respective alien police department within the country. published by the police in late October 2016. Non-EU/EEA citizens can start operat- either for natural persons or legal persons. For Q: How long does it take to obtain my residence Q: What is the average wage in Slovakia? ing their business only based on permanent natural persons it is necessary to state their permit in Slovakia? A: You receive a document of A: €883 (according to the 2015 figures). registration for a residence permit on the day when Q: Where can my children study? residence or temporary residence granted for personal information, residential address, place you submit your registration with the alien police A: Several international kindergartens and schools are of business (if it is different from the residen- the purpose of doing business, family reunion, department. Within 30 days, the police issues a plastic active in Slovakia (www.bis.sk, www.galileoschool.sk, studies, research and development or tem- tial address), and the business name of their card stating your residence in Slovakia (Pobytový www.qsi.org, www.cambridgeschool.eu, www.eisb.sk, preukaz občana EÚ). www.unity-house.sk, www.wonderland.sk, www.bbhill.sk) porary residence granted based on the status health insurer. Natural persons with permanent Q: Do I have to pay an administrative fee to be There is also a boarding school (www.leafacademy.eu). of a Slovak living abroad, or a person with residence in Slovakia need to prove they are registered? A: While the registration is officially free of Q: What should I know about health care in Slovakia? long term residence in another EU member impeccable by handing in an abstract from charge, you are required to pay to get your residence A: Emergency medical services are accessible to patients card (Pobytový preukaz občana EÚ) issued. The within 11 minutes across the whole country. Health care state. In addition, foreigners from EU/EEA the criminal records of the General Prosecu- standard fee is €4.50. in public hospitals is paid for via public health insurance. and Switzerland or OECD member states are tor’s Office. In the case of foreigners, they need Q: Do I need to ask for the residence card? Every employed foreigner in Slovakia is entitled to public A: The document that you receive from the alien police health insurance, however, he/she needs to register with obliged to register themselves in the Com- the abstract from the criminal records issued department after they accept your registration request one of three health insurers who offer more information mercial Register. Without this registration in their home country. If their country does is sufficient for you in the first five years of your stay in for foreigners in English on their web pages: www.vszp. the right to operate a business in Slovakia will not issue such a record, applicants need to the country. The card is optional. sk, www.dovera.sk, www.union.sk. The last one also Q: What documents do I need to apply for my provides special health insurance for those foreigners not be permitted. Permanent or temporary submit an equivalent document issued by the Source: Sme Source: residence permit?A: To apply for a five-year residence who are not entitled to public health insurance. Many residence in Slovakia is a vital condition for respective court or administrative body. The permit you need to submit your valid ID or passport, public hospitals are outdated, English is still not common The Slovak Spectator brings you the most frequently asked questions on obtaining a trade registration. documents cannot be older than three months two pictures sized 3x3.5 cm, proof of address, and roof and it is why foreigners prefer to use private clinics where of your purpose of staying in Slovakia. most of the services are not free of charge. licence and other conditions a foreigner needs to meet to be able to do business in Slovakia. We and must be translated into Slovak. Applicants The proof of your purpose of staying in Slovakia may Q: How much does a four-member family need for a Q: Where do I request my trade licence? also need to submit the certificate authorising have answered these questions with the kind help of the Migration Information Centre of the be a work contract, or promise of employment, or a decent living in Slovakia? A: About €900 (according to International Organisation for Migration - MIC IOM. A: The Trade Licencing Office issues trade them to use the property at which they will do document that you are self-employed, or a document the 2014 survey of the Milan Šimečka Foundation). that you have sufficient resources and will not fall Q: Where can I learn Slovak and how long does it take? licences. The first step is to notify the office business (if the address is different from the into material need during your stay in Slovakia plus A: Slovak is a bit easier for foreigners coming from the about your intention to pursue a trade. You can address of permanent residency). proof of health insurance, or a confirmation from your Slavic group of languages as some words may be similar. Q: What do I need to be able to pursue trade The law does not define which activities it do that in person at your district trade licenc- school that you are a student in Slovakia, or a statutory Slovake.eu is a multilingual free-of-charge website where declaration that you are continuously looking for a foreigners can learn Slovak. activities in Slovakia? does recognise as trades, but rather lists activities ing office based on your permanent residence. Q: How much does it cost to have a trade job in Slovakia, or a document that proves your family Q: Where can I find job offers? A: There are several job A: If you intend to do business in Slovakia, that are NOT considered trades and governed The addresses of the offices are available on the licence issued in Slovakia? relationship to a person residing in Slovakia and the portals with offers in Slovakia. The biggest is Profesia.sk. Interior Ministry’s website, search by region (in A: An applicant who goes to the trade residence permit of that relative. The documents need Q: What should I do to make calls in Slovakia? it is essential to be granted a residency status by the law on trade licences. These are mostly to be Slovak originals or official translations. A: There are four mobile operators in Slovakia: Slovak which allows you to conduct business. This the activities of freelancers or activities that re- Slovak) or on this website’s menu on the right. authorities in person needs to pay €5 to be Q: When can I ask for permanent residence in Slova- Telekom, Orange, O2 and Štvorka (4ka). Each of them means not all types of residency allow you to do quire other authorisation than just a simple trade It is now also possible to request your trade issued a certificate for a free trade licence and kia? A: If you reside in the country for at least five years has many branches around the country. To obtain a new without interruption. In specific cases, also earlier. number with rechargeable credit foreigners need their business in Slovakia. If you intend to conduct licence (like banking or health-care services). licence online on the www.slovensko.sk €15 for the craft and fixed trade licence. This Q: How do I register my family members living with passport or ID (applicable only for EU residents). a trade, you need to notify the Trade Licencing E-government portal, but this can only be can be paid via e-tax stamp, cash, money order me in Slovakia? A: You need to submit two pictures Q: What conditions should I meet to get a bank account? Office and obtain a Trade Licence. Q: As a foreigner, am I able to obtain a done by those who have biometric ID cards. or bank transfer. of the family member sized 3x3.5 cm, a valid passport, A: A person willing to get an account should be older and a document proving your family relationship with than 18 (in the case of student accounts, the age limit is Your activity would be regarded as unau- trade licence in Slovakia? If a person does not have permanent In case of electronic submission at www. the person you are registering (a birth certificate, a reduced to 15). Banks like VÚB, Tatra banka, Slovenská thorised trading if you systematically, inde- A: A person can pursue a trade in Slovakia residence, they must go to the Trade Licencing slovensko.sk, the certificate is issued for free wedding certificate), as well as your residence permit sporiteľňa or ČSOB offer the easiest way to open an pendently, on your own behalf, on your own in two different legal statuses – either as a Slovak Office in the region where their place of busi- concerning free trade licences, and for €7.50 in document. account: foreigners need only their passport or ID (the Q: What are my duties as a foreigner with a residence latter is applicable only for EU residents). Legal entities responsibility, for the purpose of earning profits, person or as a foreign person. In general, every ness is located. the case of craft and fixed trade licences. permit in Slovakia? You are required to report any need to have an extract from the business register and an without holding a Trade Licence, perform an foreign person can carry on a trade under the change in your personal data: name, surname, civil ID (in the case of companies), or the trade licence, con- activity subject to craft, regulated or unregulated same conditions as every Slovak person. Q: What conditions do I need to fulfil in Q: What do I need to do after I receive state, state citizenship, data from your passport or cession license/application to assign company ID and ID your ID, within 10 days of the change taking place. If (in the case of self-employed), plus a minimum deposit. trades. The fine for unauthorised trading ranges order to be eligible for a trade licence? my trade licence? your passport or your address card is lost, stolen, or Q: When can I obtain Slovak citizenship? from €1,659 up to €3,319. Q: Can I do business in Slovakia on the ba- A: An applicant needs to be older than 18 A: Only foreign nationals with permanent damaged, you should report it within 10 days. A: Foreigners can obtain Slovak citizenship by adoption sis of a trade licence issued in another country? years of age; have a legal capacity; be impecca- residence outside EU/EEA/OECD member Q: What do I do if I need to prolong my residence per- (applies to children) or granting. The latter means that http://www.mic.iom.sk/en/doing-business/ mit in Slovakia? A: You need to submit your expired the applicant has to meet several conditions, including trade-business.html A: In general, no. Only citizens of EU/EEA ble – which means that the person has not been states or Switzerland are liable to register residence card (Pobytový preukaz občana EÚ), a valid having permanent residency in the country for eight member states or Switzerland can occasionally sentenced for committing an economic crime, in the Commercial Register. If you are a travel document (passport or ID), and a form filled out years (check www.mzv.sk for more details). Q: Which activities are considered trade? provide services on the basis of a trade licence a crime against property or another deliberately non-EU/EEA citizen and you have been in Slovak. The questions were collected from the survey carried out A: A trade is a constant systematic activity issued in another EU/EEA member states. Oc- committed crime linked to business. In the granted temporary residency or you do not For more detailed questions and answers about dealing among the relocation companies Pro Relocation, Slovakia pursued independently, on one’s own responsi- casional providing will be determined in respect case of legal persons, this relates to its statutory have residence in Slovakia, you must register with immigration authorities, go to www.spectator.sk. Invest, and AGS Bratislava International Movers. bility, with the aim to gain profits. to quantity, regularity and duration of services. representatives. yourself in the Commercial Register after 68 Foreigners in Slovakia relocation companies 69

FAQ: Non-EU citizens dealing obtaining the trade license (or after obtaining Q: Do foreigners with permanent the temporary residence). Your registration residency in Slovakia and doing business in

with immigration authorities with a public health insurer and the tax Slovakia have to submit a tax return and pay

Q: Can I request a residence permit outside Slovakia? office will be carried out directly by the taxes in Slovakia? A: Third country nationals who require a visa to be able Trade Licence Office, if you fill in also the A: First, it is necessary to distinguish to enter Slovakia may register for a residence permit at Názov (v abecednom poradí) attachments to the official application form. whether the taxpayers are tax residents in Slo- Adresa www Riaditeľ the Slovak embassy or consulate in their home country. / Marketing a PR / Financie a dane / Ľudský kapitál

Mesto, PSČ Telefón Telefón / Manažment Third country nationals who do not need a visa to enter Your obligation to pay your health insurance vakia or not. The tax residents in Slovakia, who E-mail Fax E-mail / Nehnuteľnosti Slovakia can register either at the Slovak embassy in contributions starts the first day of your sole need to pay taxes from all their incomes here, their home country or with the Alien Police Department Company (Listed alphabetically) / IT after their arrival to Slovakia. trading. Subsequently, within eight working are natural people with permanent residency Address www Chief executive officer City, Postal code Phone Phone Other Major clients

Q: What documents do I need to apply for my T consulting days after this obligation arises, you are in Slovakia or those who usually reside here. E-mail Fax E-mail in of establishment in SR / No. branches Year SR (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR (Počet vo svete) / Jazyky krajín advisors No. of employees / Slovak Foreign poradcov slovenských / zahr. zamestnancov / Počet Počet Management consulting Financial & tax consulting poradenstvo Legal advice / Právne Human capital consulting Marketing & PR consulting I Real estate consulting Iné Hlavní klienti residence permit? obliged to inform your health insurer of the The law stipulates that such people need to pay 1 4Expat Katarína Ostatníková A: Filled in application form, 2 identical colour photos Grösslingova 30 www.4expat.eu +421(0)903 013-113 2008 1 housing search, relocation services business companies, embassies, internati- (3 x 3.5 cm), administrative fee (as required for the amount of advance payments. The obligation taxes in Slovakia, from income received both Bratislava - Staré Mesto 811 09 +421(0)903 013-113 expat@ 1 / 1 2 l onal schools and institutions, international relevant type of residence), valid passport, document to register at the Social Insurance Agency does on the country’s territory and abroad. As the [email protected] 4expat.eu E, R, NA students proving the purpose of residence (business, studies, not arise during the first year of sole trading same person can be considered a tax resident of 2 AGS Bratislava International Movers Jeremie Cohen employment, research and development, official duty, Prístavná 10 www.agsmovers.com +421(0)2 5341-2090 1999 7 international moving of household goods by YN, UNICEF, Embassies, UNDP family reunion, special activities, status of Slovaks (the next years it depends on the amount of another country as well (if said state has similar Bratislava - Ružinov 821 09 +421(0)2 5341-9227 manager-bratislava@ 1 / 127 12 l road, air and sea; storage living abroad), document proving clear criminal record, your income). However, you have the right legislation), the international agreement on [email protected] +421(0)2 5827-1196 agsmovers.com E, F, K, G, Pl, 85 documents on accommodation, documents proving to register yourself and pay the contribution preventing double taxation is applied. Based on 3 Move One, s.r.o. Jaroslav Mackovič financial coverage. Údernícka 5 www.moveoneinc.com +420(0)233 321-406 2004 4 relocation and moving services NA Q: Do the required documents need to be submitted voluntarily. this deal, the tax residency is set. Bratislava - Petržalka 851 01 +421(0)2 6353-1303 jaroslav.mackovic@ 1 / 26 5 l l in Slovak? A: Yes, all applications and documents you [email protected] +421(0)2 6353-1400 moveoneinc.com E, 1 submit need to be officially translated into Slovak by a 4 Pro Relocation s.r.o. Ivona Demáčková translator who has official credentials. Only documents Q: Where do I register to pay my health Q: What deadlines must taxpayers meet? Mliekarenská 7 www.prorelo.com +421(0)2 2090-2020 2004 12 immigration and relocation services adidas, Accenture, Bekart, IBM, DELL, in Czech do not need to be translated. Authorised insurance and how much should I pay? A: Everybody needs to submit a tax return Bratislava - Ružinov 821 09 +421(0)2 2090-2020 ivona.demackova@ 1 / 2 1 l l Mondelez, TESCO, VÚB, Microsoft, [email protected] prorelo.com E, NA Novartis translation into Czech language is also valid, but needs A: You can be registered in one of the pub- for the previous year, by March 31. to be accompanied with a document issued by the 5 SlovakiaInvest Group s.r.o. Milan Kurota consulate that confirms the translation has been made lic insurance companies by the Trade Licence Špitálska 53 www.slovakiainvest.ru +421(0)2 3214-4901 2009 20 auditing, accounting, investment advisory natural persons from Ukraine, Russia, by an authorised person. Also, the documents need to Office directly. There are three public health Q: What rules are applied when foreign- Bratislava - Staré Mesto 811 01 +421(0)2 3214-4901 slovakiainvest@ 1 / 1 1 l l l l l l Middle East and 20+ other countries [email protected] slovakiainvest.sk E, H, R, NA be apostilled or superlegalised. This does not apply to insurance companies in Slovakia (Všeobecná ers do not have permanent residency in documents issued by authorities of France, Austria, and NA- not available, Ar-Arabic, Bul-Bulgarian, Cr-Croatian, D-Dutch, E-English, F-French, G-German, H-Hungarian, Chi-Chinese, I-Italian, J-Japanese, K-Korean, N-Norwegian, Pl-Polish, P-Portuguese, R-Russian, Sl-Slovenian, S-Spanish Compiled by The Slovak Spectator Team the Czech Republic. zdravotná poisťovňa, Dôvera, Union zdravotná Slovakia but do business here? Q: I came to Slovakia to do business. What documents poisťovňa) from which you can choose one ac- A: If the international agreement states do I need to prove this purpose of my stay? cording to your preferences. The minimum rate that the person is not a tax resident in Slovakia A: You need to submit your business plan, your business licence or a document that confirms you have the for sole traders is currently €60.06. but in another signatory state, they only pay business licence of a third country national (this means: taxes on Slovak income. If non-tax residents do certificate of your business licence if you are from an Q: Where do I register to pay my social business based on a Slovak trade licence: they OECD member state, certificate of your business licence along with the registration into the Business Register if insurance and how much should I pay? need to register with the respective tax official, you come from a country that is not an OECD member A: Your obligation to pay social insurance assigned by the tax authority, and submit a tax state). The documents must not be older than 90 days. Q: I want to bring my family members to Slovakia. depends on income earned in a particular return with income from Slovakia. Non-tax What documents do I need to request temporary calendar year. This obligation arises the year residents who do business in Slovakia based on residence for them? following the calendar year in which your a trade licence issued abroad need to pay taxes A: For spouses - marriage certificate and spouse’s proof of residence in Slovakia. For single minors under 18 income reached the required limit (currently only if they have permanent business premises years of age - birth certificate of the child, proof of resi- €5,145). If your income in a particular calendar in Slovakia. If they do not have such premises, dence of the parent of the child in Slovakia, an affidavit year reaches this limit, you are obliged to start their income is not taxed based on the Slovak of the parent of the child that the child is single, and the written consent of the second parent of the child who paying the social insurance from July 1, as law. has the right to meet with the child. For a single parent of the next year, as well as register yourself as Sources: MIC IOM, of a foreigner living in Slovakia - birth certificate of the self-employed in the Social Insurance Agency Interior Ministry website, child and proof of the child’s residence in Slovakia, a document proving that the parent is single (e.g. death by July 9. Financial Administration. certificate of the late spouse) and a document proving that the parent is dependent on the child (e.g. medical certificate stating that the health condition of the parent necessarily requires the care of another person, and an affidavit stating that in the country where they come from they receive no appropriate family support). The documents shall not be older than 90 days. Q: How do I prove my integrity? What are the requirements of the criminal record? A: You need to prove you have a clean criminal record. The documents you need are a Criminal Registry Extract from your country of origin and a Criminal Registry Extract from the country where you resided in the last 3 years for more than 90 days during 6 consecutive months.

For more detailed questions and answers about dealing SP016104/001 with immigration authorities in Slovakia, see www.spectator.sk. Source: TASR Source: Index of companies APPEARING IN THE investment advisory guide 2016/2017 A Compra...... 65 K R 1. národná aukčná spoločnosť...... 65 CRESCO GROUP...... 64 Karimpol International Slovakia...... 64 RE/MAX Slovakia...... 65 4Expat...... 69 CTP Invest SK...... 64 Accace...... 50 Cushman & Wakefield Property REN R Accenture...... 51 Services Slovakia...... 63 ACCEPT AUDIT & CONSULTING...... 50 ČECHOVÁ & PARTNERS...... 43 audit KINGFISHER Executive Search...... 53 Renaudit...... 50 Kinstellar...... 37, 38, 40, 41, 42 D RK SPIRIT...... 65 Deloitte Advisory...... 49 KPMG Slovensko...... 50 Rödl & Partner Advokáti...... 42 ADMS...... 65 Deloitte Legal...... 42 Investment Advokátska kancelária Dentons Europe CS LLP...... 42 agner & partners...... 43 Direct Real...... 65 T +421 2 3233 3444 [email protected] Advokátska kancelária Doprastav...... 62 Krivak & Co...... 43 RužičkaF +421 2 3233 3445Csekeswww.rc-cms.sk...... 37, 39, 40, 41, 43 Ecker-Kán & Partners....37, 39, 40, 41, 43 DÚHA...... 62 Inz_Vizitka.indd 1 05.10.16 12:38 L S, Š E Larive Slovakia...... 49 Support SAG Elektrovod...... 62 Ernst & Young...... 50 LEXXUS...... 65 EUROFORMES...... 51 Sahesa...... 50 Advokátska kancelária Európske partnerstvo pre verejné M RELEVANS...... 37, 39, 40, 41, 43 stratégie - EPPP...... 49 MADISON SK...... 65 AGS Bratislava International Movers.....69 EUROVIA SK...... 62 Schönherr...... 42 MARKETiN CEE...... 49 Allen & Overy Skanska SK...... 62 Association Bratislava...... 37, 38, 40, 41, 42 F, G Menkyna & Partners Management Slovak Chamber of Commerce American Chamber of Commerce Fipra - Public Policy & Regulatory Consulting...... 49 and Industry...... 48 in the Slovak Republic...... 48 Advisers...... 49 Mercuri International...... 49 French - Slovak Chamber Modesta Real Estate...... 63 Professionalism - Complexity - Credibility of Commerce...... 48 Monarex Audit Consulting...... 50 gd - Team...... 51 Move One...... 69 SlovakiaInvest Group...... 69 Arthur Real Estate Company...... 65 German - Slovak Chamber of Industry and SOUKENÍK – ŠTRPKA.....37, 39, 40, 41, 43 ISA represents a group of renowned companies operating and providing services for foreign ASB Slovakia...... 49 Commerce...... 48 N Squire Patton Boggs...... 42 investors in Slovakia. The association operates as a “think-tank” or “support base” for the AT Partners - Geneva Group Národná asociácia realitných kancelárií Strabag...... 62 International...... 50 needs of SARIO and its marketing and project activities at home and abroad. Directly and Strabag Development...... 64 Austrian - Slovak Chamber Slovenska...... 65 of Commerce...... 48 Giese & Partner...... 42 Netherlands Chamber of Commerce STRABAG Pozemné a inžinierske Axis real...... 65 Gleeds Slovensko...... 63 in the Slovak Republic...... 48 staviteľstvo...... 62 of Slovakia and investment opportunities in all its regions. Noerr...... 42 Swedish Chamber of Commerce B H, CH in the Slovak Republic...... 48 Baker Tilly Slovakia...... 50 Hamala Kluch Víglaský...... 43 Swiss - Slovak Chamber of Commerce...48 Bartošík Šváby...... 43 Havel, Holásek Škubla & Partneri...... 37, 39, 40, 41, 43 BDR...... 50 & Partners...... 37, 38, 40, 41, 42 Architecture Energy IT & Telco HB Reavis Group...... 64 NOVICKÝ advokátska kancelária...... 43 HERRYS...... 65 T Hispanic - Slovak Chamber TaylorWessing e/n/w/c advokáti...... 42 Audit & Tax Environmental Legal P BEATOW PARTNERS...... 43 of Commerce...... 48 TMF Services Slovakia...... 49 Paul Q...... 43 BMB Leitner...... 50 Chemkostav...... 62 Top Reality - Real Estate - Immobilien....65 Penta Investments...... 64 Construction Euro Funds Management Advisory bnt attorneys-at-law...... 42 TPA AUDIT...... 50 BOND Reality...... 65 I, J Pergo...... 65 British Chamber of Commerce IB Grant Thornton Consulting...... 50 PETERKA & PARTNERS advokátska V-Y Design Financial Real Estate in the Slovak Republic...... 48 INGSTEEL...... 62 kancelária...... 42 VÁHOSTAV - SK...... 62 Innovative Management PMP Marketing...... 51 C, Č Partner Consulting...... 49 PNO SK...... 51 Development Insurance Recruitment & HR Canadian Chamber of Commerce...... 48 Inžinierske stavby...... 62 Polish - Slovak Chamber CASSOVIA REALITAS Košice...... 65 Italian - Slovak Chamber of Commerce...... 48 Valko Marián & partners...... 43 CBRE...... 63 of Commerce...... 48 PricewaterhouseCoopers Advisory...... 50 CCS Tax...... 50 itelligence Slovakia...... 51 CEHIP...... 64 IURIS...... 65 Centire...... 49 Ivan Perlaki Consulting...... 49 VGD SLOVAKIA...... 50 J&T REAL ESTATE...... 64 Japan - Slovak Chamber of Commerce...48 PRK Partners...... 37, 38, 40, 41, 42 White & Case...... 37, 38, 40, 41, 42 CLS Čavojský & Partners...... 43 Jenewein Group...... 49 Pro Relocation...... 69 Wilson & Partners...... 42 ADVISORS Colliers International...... 63 Jones Lang LaSalle...... 63 Prologis...... 64 YIT Slovakia...... 64 ADVISORS Investment Advisory Guide Publisher: Ján Pallo © 2016 The Rock, s.r.o. All rights reserved. Any reproduction in whole or in part without Editor-in-chief: permission is prohibited by the law. The authors of the articles published in this issue, rep- Michaela Terenzani resented by the publisher, reserve the right to give their approval for reproducing and public Contributors: Peter Adamovský, Lucia Guzlejová, Jana Liptáková, Radka Minarechová, transmission of articles marked © The Slovak Spectator/ Spectacular Slovakia as well as for the Adriána Peťková, Zdenko Štefanides, Michaela Terenzani, Zuzana Vilikovská public circulation of reproductionsof these articles in compliance with the 33rd article and 1st Copy editors: Benjamin Cunningham, Raub Murray, Andrew Lorraine paragraph of the Copyright Law. Media Monitoring is provided by Newton Media, SITA, Cover page: Jana Liptáková, Layout: Peter Malatinec and Slovakia Online with the approval of the publisher. Advertising material contained herein Sales executives: Mária Čechová, Jozef Hámorský, Barbora Šimoničová is the responsibility of the advertiser and is not written or implied sponsorship, endorsement Table section manager: Radka Minarechová, Table section assistant: Barbora Šimoničová or investigation of such commercial enterprises or ventures by The Slovak Spectator or The Printed in: Alfa print, s.r.o. Rock, s.r.o., Address: The Rock, s.r.o. Lazaretská 12, 811 08 Bratislava. SP016088/002

titulka.indd 3 18. 11. 2016 11:15:16 Your World First

You deserve more

is what we say to our clients and we truly believe that you deserve more than just excellent legal service for your money. You deserve the highest quality, absolute reliability and flexibility in solving your problems. You deserve a partner whose size, experience and results guarantee that your legal affairs are in the best hands.

www.rc-cms.sk SP016066/001

titulka.indd 4 18. 11. 2016 11:16:06 CMS_Trend_A4_EN_inz.indd 1 10.10.16 19:36