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How Slovakia Has Changed

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20th Edition Your key to understanding the Slovak business environment € 7 16th Edition Your key to understanding the Slovak business environment and its challenges € 7 investmentINVESTMENT ADVISORYADVISORY GUID GUE 2015/2016IDE 2019/2020 30 Years of Freedom: How Slovakia Has Changed GENERAL PARTNER CONTENT ADVISOR general partner content advisor titulka.indd 1 20. 11. 2015 13:30:43 Contents 3 SARIO SLOVAK INVESTMENT AND TRADE DEVELOPMENT AGENCY CONTENTS Investment Advisory Guide Investor’s checklist 4-11 Slovakia basics 4 Slovakia & central Europe: distances, population 4 or 30 years, Slovakia has been free of totalitarianism. For half of that time, it has been a Foreign direct investment: overview 5 member of the European Union. Slovak infrastructure & Industrial parks in Slovakia 6 Project timelines & 5 things to remember The country has come a long way since its watershed moment in 1989. The federation that when purchasing a plot in Slovakia 6 Fit was part of broke up, to the delight of some and the dismay of others. Slovakia and Czechia have Useful contact details 7 Industry in Slovak regions 7 each taken their own direction, with the Slovak economy only embarking on the path of much-needed Information on Slovak regions 8-9 reforms after the period of the populist and authoritarian-leaning government under the leadership of Structure of regional economies 8-9 Largest companies in Slovak regions 8-9 Vladimír Mečiar. Timeline: Construction of a new plant 10 The reforms that were launched in the late 1990s put Slovakia back on track. EU membership was Timeline: Mass recruitment 10 Types of business companies in Slovakia seen as the main aim for the country, a crowning moment for the transition to democracy and a market (advantages and disadvantages) 11 economy. Slovakia entered the EU in 2004, by which time it had been nicknamed the Tatra tiger, with direct foreign investments flowing into the country, and the common European currency on its way. 30 years of freedom 12-19 Mistakes have admittedly been made in the process, the effects of some of them surfacing only recently. The transition might have been officially completed, but the development of the economy is a Opportunities 20-31 continuous process. The next challenge for Slovakia remains the transition from a production-oriented Automotive industry 21 Innovations 24 to a knowledge-based economy, capable of coping with automation and of maintaining and enhancing Waste management 25 its competitiveness in the innovative world. As is often the case with such challenges, this one too can be Business service centres 26 Creative industry 28 seen as a threat or an opportunity. Slovakia has shown in the past it has the drive to understand it as the Intellectual property 30 latter. Government policy & legislation 31-49 By Michaela Terenzani 10 largest law firms in Slovakia 33 10 largest international law firms in Slovakia 34 The Slovak Spectator 10 largest local law firms in Slovakia 35 Interview: Legislation 36 Law firms: 2018/2019 top deals in Slovakia 38 Law firms: Top 5 all-time deals in Slovakia 41 Local law firms in Slovakia 42 International law firms in Slovakia 44 Who is who: attorneys in Slovakia 45 Supporting investments in Slovakia 46 Support of R&D 48 Real estate 50-71 SARIO is your one stop shop for investment Ongoing projects 51 Real estate market overview 59 FAQ: Buying and selling a property in Slovakia 62 and trade in SLOVAKIA. Talk to us today! Top 5 real estate projects in Bratislava 62 Innovation centre 64 New urban district in Bratislava 65 FAQ: Renting an apartment in Slovakia 66 INVESTMENT SERVICES Real estate prices in Slovakia (sale, rent) 66 Construction firms 68 We will take your investment plans in Slovakia from A through Z to success. We provide in–depth Real estate consulting 69 Real estate agencies 69 information about Slovak business environment, industry opportunities, complex information on Developers 71 setting up a business, site selection assistance as well as real estate consultancy, complex aftercare Labour market & education 72-79 services for established investors, tailored innovations services and matching platform to connect Employment relations in Slovakia 74 investors with Slovak technology companies and R&D institutions, diversification services aimed at IS FAQ: Dealing with Slovaks 74 Job portals 75 supporting diversification of the Slovak economy and development of its high–tech sectors. HR companies in Slovakia 75 Labour market: overview 76 Statistics: wages & labour costs 78 N FIN Statistics: labour market 79 S FOREIGN TRADE SERVICES EST SARIO ensures identification of potential suppliers and subcontractors by matching your sourcing RUS Economy & business environment 80-91 Moscow Slovak economy 81 DK IRL LT Statistics: Slovakia & the European Union 82 and procurement needs with the potential of Slovak producers. Business networking and matchmaking GB Copenhagen Vilnius BY Slovakia will hold a prominent position in AI 83 events bring Slovak partners closer to your company. NL Warsaw Clusters in Slovakia 84 B Brussels D PL Investment highlights 86 L Prague Kyiv Chambers of commerce 88 CZ UA SK Consulting firms 89 F Vienna MD SARIO IS THE OFFICIAL GOVERNMENTAL AGENCY PROMOTING SLOVAK CH A H SLO RO Chisinau Bucharest INVESTMENT OPPORTUNITIES AND BUSINESS POTENTIAL. P Belgrade AND I BIH Foreigners in Slovakia 92-97 Lisbon SRB Soa BG Trade licences and doing business in Slovakia 93 E Rome AL MK What foreigners ask before relocation to Slovakia? 94 SARIO I Slovak Investment and Trade Development Agency Tirana FAQ: EU citizens - dealing with immigration authorities 95 GR TR FAQ: Non-EU citizens dealing with Trnavská cesta 100 I 821 01 Bratislava I Slovakia SP019136/001 Athens immigration authorities 96 GPS +48° 9' 52.77", +17° 9' 20.27" M CY Relocation companies 97 Index 98 +421 2 58 260 100 I [email protected] I [email protected] www.sario.sk 4 Investor’s CheCklIst Investor’s CheCklIst 5 SloVAKIA BASICS (more information pages 20-31) Government structure: parliamentary In Slovakia, there is a special levy for Ratings Foreign direct investment (EUR mil): regulations at the end of the year for Economically active population 2 Area: 49,036 km democracy – the cabinet headed by doing business in regulated sectors. SloVAKIA: FOREIGN CURRENCY YEAR CumulatiVE INFLOWS the next year. by education (2Q/2019): Land use: agricultural land: 48.9%, OPPORTUNITIES the prime minister holds the executive The levy was increased to a monthly LONG-TERM Debt (NOV 2019) 2005 25,087 2,501 Electricity prices Elementary and without education 5.9% forest: 41.1%, urban areas: 4.8%, Slovakia promotes itself as the largest car powers and the country’s highest rate of 0.726 percent as of the begi- rating outlook 2006 29,284 4,626 Electricity prices for households and Secondary without A grade 23.4% water: 1.9%, other: 3.3% producer per capita in the world (198 legislative body is the 150-member nning of 2017, and the rate will drop to Standard & Poor‘s A+ stable 2007 32,412 2,935 small companies consist of several High school with A grade 44.5% Protected area as national parks, in 2018) with three carmakers located parliament. The president is the head 0.363 percent by 2021. Only compa- Moody‘s A2 stable 2008 36,226 3,323 parts of which some are regulated by University 26.2% 2009 36,469 -4 in western Slovakia (Bratislava, Trnava, Fitch A+ stable protected grounds: 22.65% of state and the formal head of the nies with profits exceeding €3 million 2010 37,665 1,336 the Regulatory Office for Network Note: First foreign language is and close to Žilina). While the fourth would be obliged to pay the levy, while Borders with neighbouring states: Hun- executive office with limited powers. 2011 40,173 2,511 Industries (ÚRSO). compulsory starting from the third gary (654.8 km), Poland (541.1 km), carmaker, the British Jaguar Land Rover, Free trade agreements: Slovakia, as a the levy will apply only to profits from 2012 41,780 2,321 Electricity prices for industrial grade; a second foreign language is the Czech Republic (251.8 km), Austria opened its plant near Nitra in 2018, it member of the EU (the EU is a party to activities conducted in the regulated Taxes 2013 42,072 -455 consumers: €0.079 per kWh (2018, (106.7 km) and Ukraine (97.8 km) sees an even bigger space for the deve- trade agreements and other agree- sectors. The regulated sectors to which VAT basic rate 20% 2014 40,969 -386 Eurostat) compulsory from the seventh grade. lopment of the network of carmakers’ VAT reduced rate on books, medicines 10% 2015 42,265 96 English must be one of them. Time zone: GMT/UTC +1 hour ments with a trade component both in this levy applies include energy, ins- and selected food 2016 45,150 728 Electricity prices for businesses Currency: euro € subcontractors, especially in the east of the WTO context and bilaterally with urance and re-insurance, public health Income tax 19% 2017* 46,559 2,020 in Slovakia also include regulated Language: Slovak the country. The second strongest pillar certain countries and regions) has free insurance, electronic communications, Corporate income tax 21% * preliminary data portions of the fee for the National Labour cost of producing €100 Population (2018): 5.445 million of Slovakia’s industry is the electrotech- trade agreements with Norway, Ice- pharmaceuticals, postal services, rail- Nuclear Fund (€3.27 per MWh as GDP (2018)*: (48.8% men, 51.2% women) nical industry with companies in Galanta, land, the Faroe Islands, the former Yu- way transport, public water pipes and Cumulative FDI by country of origin (2017): of Feb, 2019) and the charge for Tax for motor vehicles paid by business Hungary €26.9 Average age of population (2018): Nitra, and Nové Mesto nad Váhom, to goslav Republic of Macedonia, Albania, sewages, air transport and provision of COUNTRY SHARE OF FDI operating the national grid (€25.99 Poland €27.4 40.8 years mention a few.
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