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

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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 So a 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. Other sectors with a tradi- Montenegro, Bosnia and Herzegovina, health care. entities only Netherlands 25,57% per MWh as of January 1, 2019). Slovakia €28.5 Life expectancy (2018): 80.9 years tion in Slovakia are the chemical industry the Palestinian Authority, Syria, Tunisia, There is also a special levy in the Local taxes are set by municipalities. Austria 13,06% Water Czech Republic €31.9 (women), 73.8 years (men) and forestry. IT is a promising sector in Morocco, Israel, Jordan, Lebanon, banking sector to be paid on corporate They include taxes for real estate, dog li- Czech Republic 10,75% Regulated prices in Bratislava (water Estonia €33.2 Slovakia, where apart from Bratislava, cences, usage of public space and others. Luxembourg 7,37% 3 United Kingdom €49.9 Total population increase per 1,000 Egypt, Algeria, Mexico, South Africa, and private individuals’ deposits. The Germany 6,39% €1.1231 per m , sewage €1.1059 Austria €51.8 Excise taxes are applied on alcoholic 3 3 inhabitants (2017): 1.4% also in Košice and Žilina there have been CARIFORUM States, Madagascar, levy was set as degressive and should South Korea 6,33% m ); in Košice (water €1.603 per m , Germany €52.3 Nationalities: Slovak: 81.1%, Hungari- built strong IT clusters. Slovakia has also Mauritius, the Seychelles, Zimbabwe, gradually decrease from 0.4 percent to beverages (spirits, wine, beer), electricity, Hungary 5,68% sewage €1.1844 per m3) (Source: Italy €54.0 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 coal, natural gas, oil, and tobacco products Belgium 5,21% water management companies in France €54.7 ted), other: 1.7% (Czech, Ruthenian, centres, most of which are currently Guinea, Fiji, Iraq, Colombia, Peru and designed to be a temporary measure, Dividends: The government replaced Italy 4,70% Bratislava and eastern Slovakia) Sweden €56.6 Cyprus 3,51% Ukrainian, German, Polish, Russian), located in Bratislava with opportunities Central America, Canada (Source: EC) to be terminated once banks have the 14-percent health levy paid from Transportation costs: * based on statistics provided by OECD Other 11,43% 6.7% other and undeclared to spread into other parts of Slovakia. Regulation paid a total of €1 billion. In 2016 the dividends with a 7 or 35 percent tax on A united motor vehicle tax (GDP per hour worked, current prices) and Note: several companies which have Religion: Roman Catholic 62%, Evan- The trend of transitioning the economy The Regulatory Office for Network government revised the legislation, dividends as of 2017. Fuel prices (Oct, 2018): 98 octane Eurostat (labour costs per hour in euro, invested in Slovakia are registered in the gelical 5.9%, Greek Catholic 3.8%, towards services is visible by the mushro- Industries (ÚRSO) regulates the energy setting the levy at a flat 0.2 percent, petrol €1.592 per litre, LPG €0.645, whole economy - excluding agriculture and Business entities: Netherlands, Luxembourg or Cyprus, even Reformed 1.8%, Orthodox 0.9%, oming of startups and R&D centres, sector as well as water management valid until 2020. though their country of origin is different. diesel €1.329 public administration) 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 imposed a new The most popular legal forms of business Toll rates: €0.020-€0.246 / km entities in Slovakia: Trade unions: Unions in Slovakia religion 13.4%; Literacy: 99.6% state’s investment incentives. the sector of telecommunications special levy on insurance companies. Cumulative FDI by economic activity (www.emyto.sk) -self-employed individual / samostatne work under the umbrella organisation Capital: Bratislava (population (more information  pages 32-49) and postal services is overseen by the They are obliged to pay a special levy (2016): Bank account: Opening a bank of 8 percent from non-life insurance zárobkovo činná osoba – SZČO (no Confederation of Trade Unions (KOZ). (2018): 432,864 Regulatory Authority of Electronic Economic activity Share of FDI account by a business entity: Other major cities: Košice (238,757), Government Communications and Postal Services policies as of 2017. requirement for registered capital) Slovenská Sporiteľňa - monthly fee A revision to the law on collective bar- -joint-stock company / akciová spoloč- Manufacturing 32.27% Banská Bystrica (76,458) policy & legislation (RÚ), which along with pricing over- General government debt (2018): Financial and insurance from €0-31.9; VÚB - monthly fee gaining as of 2014 re-introduced the nosť, a.s.: (minimum registered capital activities 23.21% Towns (2018): 140 (settlements with Membership in international institu- sees the distribution of frequencies. 48.9% of GDP from €7; mandatory extension of higher-level tions: European Union, the eurozone, €25,000) Wholesale and retail trade; more than 5,000 inhabitants) The National Bank of Slovakia (NBS) State’s investment incentives: repair of motor vehicles and 9.13% Tatra Banka monthly fee from €7 collective agreements to all businesses Villages (2018): 2,750 (settlements NATO, OECD, WTO, WHO, UN, is responsible for financial market  pages 46-47 -limited liability company / spoločnosť s motorcykles in a given industrial sector (even those with fewer than 5,000 inhabitants) OSCE, and others supervision. ručením obmedzeným, s.r.o. (minimum Administrative and support 6.64% registered capital €5,000) service activities (more information  pages 72-79) that have not signed on individually) Real estate activities 6.31% As of January 1, 2017 it is possible to Information and communi- Labour market & education and thus boosted the power of unions. Slovakia and central Europe: distance of selected destinations (km, min), population 4.50% launch so-called simple joint-stock cation Number of national holidays: 15 Observers have noted several times Ostrava (294,000) (108 km, 1 h 40 min) companies with €1 basic capital (simple Other 17.94% Paid holidays: 20 days (25 days for that KOZ is not a politically indepen- shareholder companies). These are employees aged 33+) dent organisation for its repeated limited to small and medium-sized Foreign trade (2018) Notice period: one month at least support for the ruling Smer party. In Poland companies, especially startups. Export (2018): €79.14 billion Employment contracts:  pg 74-75 October 2018, five trade union orga- Import (2018): €76.84 billion Minimum wage: €580 nisations founded a new trade union (more information  pages 80-91) Average nominal monthly wage confederation called Spoločné Odbory Krakow (760,000) (228 km, 3h 15 min) (2018): €1,013 the Czech Economy & business Main export countries (2018): Slovenska or the Joint Trade Unions of Košice (256 km, 3h 20 min) Average nominal monthly wage Žilina environment Country Share of (81,000) export Slovakia in English (SOS). They claim Republic Poprad Inflation (9/2019): 2.9% (2017): €954 Prešov Germany 22.2% that they do not want to compete with Martin (53,000) Monthly wage costs (2017): €1,492 (87,000) GDP growth (2018): 3.5% Czech Republic 11.8% (57,000) Social and health insurance: KOZ, but rather act as its counterba- Bratislava (201 km, 1h 55 min) GDP per capita 2018 (nominal): Poland 7.7% USD20,670 France 6.3% Employers pay for their employees lance in defending employees’ rights. Trenčín Žilina (256 km, 3h 20 min) Hungary 6.0% 10% health insurance and 35.2%

Brno (400,000) (130 km, 1h 30 min) (56,000) GDP per capita 2018 (PPP): Prievidza Košice Austria 5.8% social insurance as a % of their brutto (48,000) (239,000) USD31,326 (more information  pages 92-97) Uzhgorod (120,000) (98 km, 1h 40min) wage. Banská Bystrica Main economic activities by gross Main import countries (2018): (79,000) added value (2017): Foreigners in Slovakia Bratislava (401 km, 4 h 40 min) Country Share of Main sectors by no. of employees Prague (1.2 mil.) (328 km, 3h 15 min) Agriculture, forestry and fishing 3.44% import As Slovakia is a member of the Zvolen Industry 26.68% (2Q/2019): Žilina (201Trnava km, 1h 55 min) (43,000) Germany 17.8% European Union and the Schengen (66,000) Construction 8.21% Czech Republic 10.2% Manufacturing 24.5% Banská BystricaNitra (211 km, 2h) Area, citizens of countries in the (78,000) Trade,transport, accom., food serv. 20.18% China 6.0% Wholesale and retail trade; 11.9% Košice (401 km, 4 h 40 min) Ukraine Information and communication 4.31% Russia 5.9% Repair of motor vehicles Schengen Area do not need a Slovak Financial and insurance activities 3.14% South Korea 5.8% Construction 9.5% Vienna (1.8 mil.) Miskolc (163,000) (90 km, 1h 30 min) visa. Nationals of third countries Real estate activities 6.87% Poland 5.6% Public administration, defence (80 km, 57 min) & social security 8.4% Professional, scientific and technical generally need a visa to stay in Slovakia BRATISLAVA Győr (129,00) (80 km, 55 min) Health and social work 7.7% (420,000) activities; administrative and support 9.07% while visa applications can be filed Utility prices: Education 7.8% service activities three months prior to the planned trip Austria Budapest (1.8 mil.) (200 km, 2 h) Public admin., education, health 14.75% Some utility prices are regulated by Transport and storage 6.8% Hungary Other 3.37% the Regulatory Office for Network Accommodation, food ser. 4.1% at the earliest, and granting the visa Other 19.2% Industries (ÚRSO). It issues new 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 plots & infrastructure Investor’s Checklist: contact details / industry in regions 7

Information about ment of Slovakia; www.isa-association.sk - administering taxes Employees, visa Tel: +421 (0)907 910-646 Tel: +421 (0)48 431-7222 R5 existing businesses and registration Industrial parks in Slovakia Business Register of the Slovak Republic Slovak Business Agency (SBA) www.financnasprava.sk Bureau of Border and Foreign Police Obchodný register Slovenskej republiky - assisting small and medium businesses Customs section of the Financial Administra- Úrad hraničnej a cudzineckej polície & Slovak infrastructure (OR SR) in Slovakia, securing the building of tion of the Slovak Republic - registering foreigners living in Slovakia, (highways, main railways,Žilina D3 - a database of all businesses active in Slo- infrastructure for business development - customs policy, customs tariffs, origin of issuing residence permits and work vakia administered by the Justice Ministry (incubators); Tel: +421 (0)2 2036-3100 goods, administering indirect taxes permits; Tel: +421 (0)961 050-701 airports) Poprad R4 R6 D1 www.orsr.sk www.sbagency.sk Tel: +421 (0)48 431-7222 www.minv.sk/?uhcp Trade Register of the Slovak Republic Slovak Agency for International Develop- www.financnasprava.sk Social Insurance Agency Prešov Živnostenský register Slovenskej republiky ment Cooperation / Slovenská agentúra Sociálna poisťovňa (ŽR SR) pre medzinárodnú rozvojovú spoluprácu Control and audit bodies - state-run social security provider, regis- Trenčín R3 - a database of all individuals working (SAMRS) National Labour Inspectorate tration of employees for social insurance - administering the Slovak Aid pro- Národný inšpektorát práce Banská Bystrica under trade licences in Slovakia funds; Tel: +421 (0)906 171-020 Košice www.zrsr.sk gramme, implementation of development - state watchdog, enforcement of labour- www.socpoist.sk R2 Slovak Chamber of Commerce and Industry aid programmes; www.slovakaid.sk related legislation, work conditions and Confederation of Trade Unions Slovenská obchodná a priemyselná komora Tel: +421 (0)2 5978-2601 occupational safety; Konfederácia odborových zväzov (KOZ) Sliač (SOPK) Slovak Innovation and Energy Agency Tel: +421 (0)55 797-9902 - association of labour unions, protecting Piešťany www.ip.gov.sk the rights of workers Industrial parks - gathering industrial and commercial Slovenská inovačná a energetická agentúra (SIEA) Slovak Environment Agency Tel: +421 (0)2 5023-9103 R8 R1 (availableR2 area in m2) businesses, assisting in finding a local business partner - free-of-charge energy consulting for Slovenská agentúra životného www.kozsr.sk 2 Trnava < 100,000 m Tel: +421 (0)2 5443-3291 households and businesses, monitoring prostredia (SAŽP) D2 R3 Associations 100,000 - 300,000 m2 web.sopk.sk innovation activities in Slovakia, informa- - environmental impact assessment Nitra tion about opportunities to draw EU Tel: +421 (0)48 437-4111 National Union of Employers > 300,000 m2 Statistics Office / Štatistický úrad - statistical information about Slovakia, a funds for innovation in businesses www.sazp.sk Republiková únia zamestnávateľov (RÚZ) D4 Source: SARIO Real Estate database database of all businesses and institutions Tel: +421 (0)2 5824-8111 Slovak Trade Inspection - organisation of employers in Slovakia, www.siea.sk BRATISLAVA The SARIO agency created and manages an registered in Slovakia; Tel: +421 (0)2 Slovenská obchodná inšpekcia (SOI) which is comprised of two-thirds of R7 planned highways extensive Real Estate database, to be able to 5023-6222; www.statistics.sk - authority for internal market surveillance employers producing 70 percent of GDP highways under construction choose land plots or existing buildings suitable for Ministries Tel: +421 (0)2 5827-2162 and 80 percent of the Slovak export highways implementation of an investment intention based Support for investors Economy Ministry www.soi.sk Tel: +421 (0)2 3301-4280 www.ruzsr.sk highways (half profile) on the particular requirements of each potential Slovak Investment and Trade Development Ministerstvo hospodárstva main railways investor. Currently there are over 1,000 land plots Agency / Slovenská agentúra pre rozvoj - the departments of entrepreneurship Land registry Federation of Employers’ Associations and other existing objects suitable for industrial and of export and foreign trade are part Asociácia zamestnávateľských zväzov a international airport investícií a obchodu (SARIO) Katastrálny úrad / Land registry use registered in the SARIO Real Estate database. - supporting the investment projects of of the ministry - information about land ownership združení (AZZZ) domestic and foreign investors, providing Tel: +421 (0)2 4854-1111 www.katasterportal.sk/kapor - organisation of employers in Slovakia, PROJECT TIMELINES BASED ON DIFFERENT METHODS OF ACQUIRING INDUSTRIAL SPACE consultancy and aid to investors, and www.mhsr.sk which promotes and protects common assisting SMEs in their search for export Justice Ministry / Ministerstvo spravodlivosti Banks business, commercial and employers’ Months Method interests of members and trade opportunities abroad - the ministry’s website provides informa- Export-Import Bank Tel: +421 (0)2 5826-0100 tion on courts that secure the legal pro- Tel: +421 (0)2 4425-8295 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 of the Slovak Republic / EXIM Banka www.azzz.sk www.sario.sk cess of establishing a business in Slovakia - supporting exports by financing and lease of vacant (existing) space in an existing Business and Innovation Centre Tel: +421 (0)2 8889-1111 insuring export credits Business Alliance of Slovakia park location Podnikateľské a inovačné centrum (BIC) www.justice.gov.sk Tel: +421 (0)2 5939-8111 Podnikateľská aliancia Slovenska (PAS) - business and innovation consult- Foreign and European Affairs Ministry www.eximbanka.sk - professional association representing pre-lease of desired space in an existing ing, transnational technology transfer, Ministerstvo zahraničných vecí a európskych selected entrepreneurs and employers park location National Bank of Slovakia Tel: +421 (0)948 233-508; alianciapas.sk financial consulting, regional develop- záležitostí Národná Banka Slovenska (NBS) built to suit in a new location - chosen ment, support in the EU Framework - information on embassies, consular - central bank, providing statistical infor- Slovak Agricultural and Food Chamber by the investor Programmes for research, technology services, and business departments of mation about balance of payments and Slovenská poľnohospodárska a potravinárska development and innovation, project Slovak embassies abroad currency rates; www.nbs.sk komora (SPPK) acquisition of an existing facility to be adop- management and investment consulting Tel: +421 (0)2 5978-1111 Tel: +421 (0)2 5787-1111 - association representing companies ted for the investor’s future needs Tel: +421 (0)2 3233-2711 www.bic.sk www.mzv.sk operating in agriculture, food industry, Slovak Guarantee and Development Bank acquisition of serviced land and development Investment Support Association biological, technical and related trade Taxes and customs Slovenská záručná a rozvojová banka (SZRB) services, as well as NGOs and others in of the facility with an industrial developer Združenie pre rozvoj investícií (ISA) - providing guarantees for loans agriculture; www.sppk.sk - support for the presentation of invest- Tax section of the Financial Administration of Tel: +421 (0)2 5729-2111 Tel: +421 (0)2 5021-7101 acquisition of serviced land and development ments and their benefits for the develop- the Slovak Republic www.szrb.sk of the facility with an general contractor 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: Statistics Office of the Slovak Republic Source: CBRE, real estate consultant (www.cbre.sk) Industry in Slovak regions (2018) 13.6% 9% (more information  pages 54-71) a protection zone or a protection 3. Permissions 5. Economic state of the region and 8.4% 8.3% 15.5% zone for first-class roads and Am I able to obtain all necessary state aid 6.8%5.3% 13.9% Infrastructure & real estate highways? permissions required by the existing Is there enough labour force in the 5.8% 5.9% Žilina 9.3% 5.9% 5 things to remember when purcha- master plans and valid legislation? region where the selected plot is 14.6% sing a plot in Slovakia (questions you 11.9% 2. Infrastructure What are the possibilities of third par- situated? What schools are in the nei- 55.5% need to answer) Is the infrastructure built close ties (e.g. citizens, municipalities and ghbourhood? What other companies 10.3% to the selected plot sufficient? Is rivals) to limit or stop the development are active in the region? Am I entitled 5% Prešov 1. Locality 36% Trenčín 15.9% 15.3% the plot connected to roads of activities on the plot? What is the state to regional investment aid? 8.5% 10.7% 6.7% 6.7% 10.7% 3.5% 13.6% Where is the locality situated and international interest? Can the of the plot from the point of material 6.8% 3.5% how is it defined in the master plan? plot be connected to all types of burden, debits and legal disputes? Prepared in cooperation with 15.9% Banská 3.5% 14.9% 11.9% 14.4% 25.7% Bystrica 8% Košice When was the locality built? Is the networks? Will it be possible to Ján Rakovský, industrial agency 4.6% 24.2% 12% 7% 14.6% 47.5% 4.7% plot situated in an area that is often build enough capacities to operate 4. Construction consultant at Cushman & Wakefield 17.1%

7.7% 14.1% 19.2% 3.5% flooded, where there is a potential the locality and in what time frame? Is it necessary to carry out an envi- Slovakia; Marián Mlynárik, head of

36.9% risk of pollution or are archaeolo- Will I, as the future owner, be able ronmental survey? Can I, as the plot’s the investment properties department Trnava gical excavations often carried out to secure access to the plot’s border owner, effectively compete for and sign at CBRE Slovakia; and Martin Manina BRATISLAVA Nitra n Chemical & pharmaceutical n Motor vehicles 7.4% 49.7% there? Are there any limitations, like and its trouble-free connection to agreements over building capacities, as from the Advokátska Kancelária 5.9% n Electricity, gas, steam supply n Paper & wood processing closeness to the airport, military the existing public communications well as manage all development risks JUDR. Michal Krnáč law firm, which 7% n Electrotechnical industry n Textile & leather processing 11.3% facilities, gas facilities, railways with network? related to construction in the locality? cooperates with Jones Lang LaSalle. 4.3% n Engineering (motor vehicles not incl.) n Water supply and waste 4.9% n Food industry n Cummulative share of industries, 30.8% 17% n Manufacture of other non-metallic the individual share of which of all mineral products industrial production in the respective 11.4% n Metallurgy & metal processing region did not exceed 3.5 % 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 (2017) 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 31.12.2018 691,368 Donghee Slovakia, (Strečno) - Engineering Population as of/on 31.12.2018 825,022 Agriculture, forestry and fishing 1.3% 3.1% 3.4% 6.6% 2.4% 7.5% 4.0% 3.5% Size 6,811 km2 Hyundai Transys Slovakia (Žilina) - Automotive Size 8,972 km2 Hyundai Steel Slovakia (Gbeľany) - Metal processing Industry in total 16.9% 39.0% 30.1% 36.1% 27.9% 24.2% 25.4% 28.5% Share of Slovak GDP creation 2017 10.84% KIA Motors Slovakia (Teplička nad Váhom) - Car manu- Share of Slovak GDP creation 2017 9.06% Construction 5.1% 7.0% 8.2% 7.8% 13.0% 8.8% 13.1% 8.5% Distance between Bratislava and Žilina (by car) 201 km (111 min) facturing Distance between Bratislava and Prešov (by car) 410 km (4.5 h ) Trade,transport, accom., food serv. 24.3% 15.3% 19.4% 19.6% 16.7% 19.6% 19.0% 20.7% Unemployment rate 2018 4.4% Mobis Slovakia (Gbeľany) - Engineering Information and communication 5.1% 5.0% 2.6% 2.6% 4.5% 3.5% 3.0% 5.9% Mondi SCP (Ružomberok) - Paper & wood processing Unemployment rate 2018 9.4% Average monthly wage in 2018 (self-employed not included) €1,088 industry Average monthly wage in 2018 (self- Financial and insurance activities 6.3% 1.9% 2.3% 1.7% 2.4% 2.1% 1.8% 1.4% Average nominal monthly wage 2018 (wages of self-employed includ.) €911 OFZ (Oravský Podzámok) - Metallurgy -employed not included) €928 Real estate activities 9.7% 6.4% 2.6% 5.6% 6.3% 5.2% 7.1% 6.5% Average nominal monthly wage 2017 €855 Panasonic Electronic Devices (Trstená) - Electrotechnical Average nominal monthly wage 2018 €775 Professional, scientific and technical activities; Monthly wage costs per employee 2017 €1,352 industry (wages of self-employed includ.) 11.8% 4.4% 7.9% 6.8% 10.3% 9.7% 8.3% 9.0% Schaeffler Slovensko, (Kysucké Nové Mesto) - Engineering administ. and support serv. Economically active population by education in 2Q / 2019 Average nominal monthly wage 2017 €734 Public admin., education, health 14.0% 15.8% 20.9% 11.0% 13.2% 17.0% 15.6% 13.4% Sejong Slovakia (Lietavská Lúčka) - Automotive a) elementary and without education 2.6% Stredoslovenská Energetika (Žilina) - Electricity distributor Monthly wage costs Other 5.5% 1.9% 2.7% 2.1% 3.4% 2.4% 2.7% 2.6% per employee 2017 €1,204 b) secondary without A level 26.9% Sungwoo Hitech Slovakia (Žilina) - Automotive Cumulative share of all sectors, Economically active population 11.5% 16.5% 13.5% 12.1% 12.6% 13.2% 11.5% 7.5% c) secondary with A level Tipsport SK (Žilina) - Lotteries the individual share of which is < 5.5 % 47.8% Váhostav - SK (Žilina) - Construction by education in 2Q / 2019 d) university 22.6% Visteon Electronics Slovakia (Námestovo) - Electrotechnical a) elementary and without education 9.7% trnava Region The largest companies in the Trnava Region b) secondary without A level 22.1% Population as of/on 31.12.2018 563,591 Agropodnik (Trnava) - Chemical industry c) secondary with A level 45.2% Size 4,147 km2 ArcelorMittal Gonvarri SSC Slovakia (Senica) - Metallurgy & metal process. d) university 23% Share of Slovak GDP creation 2017 11.22% Bekaert Hlohovec (Hlohovec) - Metallurgy & metal processing The largest companies in the Prešov Region Bekaert Slovakia (Sládkovičovo) - Metallurgy & metal processing Chemosvit (Svit) - Chemical industry Distance between Bratislava and Trnava (by car) 56 km (37 min) Datalogic Slovakia (Trnava - Zavar) - Electrotechnical industry Lear Corporation Seating Slovakia (Prešov) - Automotive Unemployment rate 2018 4.8% Enagro (Leopoldov) - Trade, biofuel Mecom Group (Humenné) - Food industry Average monthly wage in 2018 (self-employed €1,114 I.D.C. Holding (Sereď) - Food industry Merkury Market Slovakia (Prešov) - Furniture supplier not included) Johns Manville Slovakia (Trnava) – Glass industry Milk-Agro (Prešov) - Food industry Average nominal monthly wage 2018 (estimation Metrans /Danubia/ (Dunajská Streda) - Transport Nexis Fibers (Humenné) - Chemical industry of wages of self-employed included) €952 PSA Groupe Slovakia (Trnava) - Car manufacturing Plzeňský Prazdroj Slovensko (Veľký Šariš) - Food industry Average nominal monthly wage 2017 €890 Protherm Production (Skalica) - Engineering Stiga Slovakia (Poprad) - Engineering Samsung Electronics Slovakia (Galanta) - Electrotechnical industry 12.6% Tatravagónka (Poprad) - Engineering Monthly wage costs per employee 2017 €1,411 11.5% Semikron (Vrbové) - Electrotechnical industry Whirlpool Slovakia (Poprad) - Engineering Economically active population by education in 2Q / 2019 Schaeffler Skalica (Skalica) - Engineering 27.9% a) elementary and without education 6.6% 13.2% 25.4% Tate & Lyle Slovakia s.r.o. (Boleráz) - Food industry Žilina košice Region b) secondary without A level 27.9% 15.6% Vaillant Industrial Slovakia (Skalica) – Engineering Population as of/on 31.12.2018 800,414 c) secondary with A level 42.5% ZF Slovakia (Trnava) - Engineering 13% 10.3% 13.1% 2 16.7% Size 6,751 km d) university 23.1% ŽOS Trnava (Trnava) - Engineering 8.3% 6.3% Share of Slovak GDP creation 2017 12.21%

19% 7.1% Distance between Bratislava and Bratislava Region Košice (by car) 401 (4.5 h) Population as of/on 31.12.2018 659,598 Unemployment rate 2018 7.7% Size 2,054 km2 Prešov Average monthly wage in 2018 (self- €1,110 Share of Slovak GDP creation 2017 27.96% 7.5% -employed not included) 13.5% Unemployment rate 2018 2.3% Trenčín Average nominal monthly wage 2018 13.4% Average monthly wage in 2018 (self- (wages of self-employed includ.) €929 €1,532 30.1% 28.5% -employed not included) Average nominal monthly wage 2017 €869 Average nominal monthly wage 2018 20.9% 9% Monthly wage costs €1,272 8.5% €1,374 (wages of self-employed included) 8.2% per employee 2017 Average nominal Banská 6.5% 20.7% €1,200 7.9% Economically active population monthly wage 2017 5.9% Košice 19.4% Bystrica by education in 2Q / 2019 Monthly wage costs €1,894 a) elementary and without education 7.3% per employee 2017 b) secondary without A level 21.4% Economically active population 11.5% 13.2% c) secondary with A level 44.8% by education in 2Q / 2019 5.5% 16.9% 7.5% d) university 26.5% a) elementary and without education 3.1% The largest companies in the Košice Region b) secondary without A level 11.2% 14% 17% 24.2% BSH Drives and Pumps (Michalovce) - Electrotechnical industry c) secondary with A level 38.9% 24.3% Embraco Slovakia (Spišská Nová Ves) - Engineering d) university 46.8% Essity Slovakia (Gemerská Hôrka) - Paper & wood processing

19.6% 8.8% The largest companies in the Bratislava Region 11.8% Trnava 9.7% Eurovia SK (Košice) - Construction

Allianz - Slovenská poisťovňa (Bratislava) - insurance 9.7% 6.3% Getrag Ford Transmissions Slovakia (Kechnec) - Engineering 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 16.5% T-Systems Slovakia (Košice) - IT Eustream (Bratislava) - Transport of natural gas 12.1% n Agriculture, forestry and fishing Faurecia Slovakia (Bratislava) - Automotive 10 largest companies in Slovakia U. S. Steel Košice (Košice) - Metallurgy & metal processing 6.6% n Industry U-Shin Slovensko (Košice) - Automotive Grafobal Group (Bratislava) - Printing industry & media market 39% 11% (based on sales revenue in 2018, logos on the map) IBM Slovensko (Bratislava) - IT n Construction Východoslovenská Energetika (Košice) - Electricity distributor IKEA Components (Malacky) - Trade / Services 15.8% n Trade, transport, accom., food serv. 1. Volkswagen Slovakia (Bratislava) - Car manufacturing Yazaki Wiring Technologies (Michalovce) - Electrotechnical industry 6.8% 36.1% J&T Group (Bratislava) - Investment group n Information and communication 2. KIA Motors Slovakia (Teplička nad Váhom/Žilina) - Car Johnson Controls International (Bratislava) – Engineering manufacturing 6.4% 7% n Financial and insurance activities Kaufland Slovenská republika (Bratislava) - Retail chain 7.8% 3. Slovnaft (Bratislava) - Oil refinery 19.6% Banská Bystrica Region Lidl Slovenská republika (Bratislava) - Retail chain 15.3% Real estate activities 4. PSA Groupe Slovakia (Trnava) - Car manufacturing Population as of/on 31.12.2018 647,874 Metro Cash and Carry (Ivanka pri Dunaji) - Trade n Professional, scientific and technical activities; administrative 5. U. S. Steel Košice (Košice) - Metallurgy & metal processing 2 Národná diaľničná spoločnosť (Bratislava) - Operation of highways Size 9,454 km and support service activities 6. Slovenské Elektrárne (Bratislava) - Electricity producer OMV Slovensko (Bratislava) - Gas stations 7. Samsung Electronics Slovakia (Galanta) - Electrotechnical Share of Slovak GDP creation 2017 8.82% Orange Slovensko (Bratislava) - Telecommunications n Public admin., education, health industry Distance between Bratislava and 211 km Penta Investments (Bratislava) - Investment group n Arts, entertainment and recreation, repair of household goods 8. Tesco Stores SR (Bratislava) - Retail chain Banská Bystrica (by car) (118 min) Phoenix Zdravotnícke zásobovanie (Bratislava) - Trade 9. Mobis Slovakia (Gbeľany/Žilina) - Automotive industry Unemployment rate 2018 8.1% of Lists 2019, TrendSource: Book Top 200, SAS Automotive (Bratislava) - Automotive and other services 10. Continental Matador Rubber & Continental Matador Truck Average monthly wage in 2018 (self- €1,023 Siemens (Bratislava) - Trade & IT n Cummulative share of all sectors, the individual share of which Tires (Púchov) - Tyres -employed not included) Slovak Telekom (Bratislava) - Telecommunications on the regional GDP in the respective region did not exceed Average nominal monthly wage 2018 Slovenská Elektrizačná Prenosová Sústava (Bratislava) - Electricity (wages of self-employed includ.) €859 transmission trenčín Region The largest companies in the Trenčín Region 5.5 % Slovenská Sporiteľňa (Bratislava) - Banking Population as of/on 31.12.2018 585,882 C & A Mode (Kočovce) - Clothing retail chain Average nominal monthly wage 2017 €807 Slovenské Elektrárne (Bratislava) - Electricity producer Size 4,501 km2 Continental Matador Rubber, Continental Matador Truck Tires (Púchov) - Tyres Monthly wage costs per employee 2017 €1,272 Elgas (Považská Bystrica) - Trade (electricity and gas) nitra Region The largest companies in the Nitra Region Slovenský Plynárenský Priemysel (Bratislava) - Gas supply Share of Slovak GDP creation 2017 8.96% Population as of/on 31.12.2018 676,672 ACHP Levice (Levice) - Chemical industry Economically active population Slovnaft (Bratislava) - Oil refinery Fortischem (Nováky) - Chemical industry by education in 2Q / 2019 Distance between Bratislava and Trenčín (by car) 130 km (75 min) Hanon Systems Slovakia (Ilava) - Electrotechnical industry Size 6,344 km2 COOP Jednota (Nové Zámky) - Retail chain Strabag (Bratislava) - Construction Unemployment rate 2018 3.0% de Miclén (Levice) - Chemical industry a) elementary and without education 8.1% Tatra Banka (Bratislava) - Banking Seoyon E – HWA automotive Slovakia, (Dubnica nad Váhom) - Engineering Share of Slovak GDP creation 2017 10.93% Average monthly wage in 2018 (self-employed not included) €1,094 Hella Slovakia Front-Lighting (Kočovce) - Automotive Duslo (Šaľa) - Chemical industry b) secondary without A level 22% Tesco Stores SR (Bratislava) - Retail chain Distance between Bratislava and Nitra (by car) 94 km (56 min) Foxconn Slovakia (Nitra) - Electrotechnical industry c) secondary with A level 46.5% Tipos - Národná lotériová spoločnosť (Bratislava) - Lotteries Average nominal monthly wage 2018 (estimation of wages of self- Hella Slovakia Signal-Lighting (Bánovce nad Bebravou) - Automotive Unemployment rate 2018 4.7% €951 Gamex Trading (Komárno) - Trade Statistical Office of the Slovak Republic Unipetrol Slovakia (Bratislava) - Trade -employed included) Iljin Slovakia (Pravenec) - Engineering; Leoni Slovakia (Trenčín) - Automotive d) university 23.4% Leoni Slovakia (Trenčín) - Automotive Average monthly wage in 2018 (self-employed not included) €1,034 Jaguar Land Rover Slovakia (Nitra) – Car manufacturing The largest companies in the Banská Bystrica Region Volkswagen Slovakia (Bratislava) - Car manufacturing Average nominal monthly wage 2017 €895 Heineken Slovensko (Nitra) - Beverages Magna Slovteca (Nové Mesto nad Váhom) - Chemical industry Average nominal monthly wage 2018 (wages of self-employed includ.) €832 Adient (Lučenec) - Engineering VÚB (Bratislava) - Banking Monthly wage costs per employee 2017 €1,397 Matador Automotive Vráble (Vráble) - Engineering Matador holding (Púchov) - Engineering CBA Slovakia (Lučenec) - Retail chain Západoslovenská Energetika (Bratislava) - Electricity distributor Economically active population Average nominal monthly wage 2017 €789 Med – Art (Nitra) - Trade Nestlé Slovensko (Prievidza) - Food industry Continental Automotive Systems Slovakia – Engineering Železnice Slovenskej Republiky (Bratislava) - Rail transportation by education in 2Q / 2019 Monthly wage costs per employee 2017 €1,297 Nidec Global Appliance Slovakia (Zlaté Moravce) - Považský cukor (Trenčianska Teplá) - Food industry LESY Slovenskej Republiky (Banská Bystrica) - Forestry Železničná spoločnosť Cargo Slovakia (Bratislava) - Rail Economically active population by education in 2Q / 2019 Engineering a) elementary and without education 3.1% Raven, (Považská Bystrica) - Trade Nemak Slovakia (Žiar nad Hronom) - Metallurgy & metal processing transportation Osram Slovakia (Nové Zámky) - Electrotechnical industry b) secondary without A level 32.3% TRW Automotive (Nové Mesto nad Váhom) - Automotive a) elementary and without education 6.1% Slovalco (Žiar nad Hronom) - Metallurgy & metal processing Železničná spoločnosť Slovensko (Bratislava) - Rail transportation Rieker Obuv (Komárno) - Shoemaking industry c) secondary with A level 44.6% Unipharma (Prievidza) - Trade b) secondary without A level 25.9% Slovenská Pošta (Banská Bystrica) - Postal services Šped-Trans Levice (Levice) - Transport Vertiv Slovakia (Nové Mesto nad Váhom) - Electrotechnical industry c) secondary with A level 46% Železiarne Podbrezová (Podbrezová) - Metallurgy & metal (several companies from this list have their Slovak headquarters in d) university 20.1% ZKW Slovakia (Krušovce) - Automotive Bratislava with branches and activities in all Slovak regions) Yura Corporation Slovakia (Lednické Rovne) - Engineering d) university 22.1% processing 10 Investor’s Checklist: timelines Investor’s Checklist: Types of business companies 11

TIMELINE FOR BUILDING a PRODUCTION HALL WITH a SMALL IMPACT ON the ENVIRONMENT* ; PRUDENT TIMING Types of business companies in Slovakia (advantages and disadvantages) (10,000 m2 hall in industrial park, 100 new employees, development of the facility with a general contractor) Months Action General Commercial Limited Limited Liability Joint Stock Simple Joint Partnership Partnership Company Company Stock Company 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 • at least two individual or • at least one individual or decision • at least two individual or legal entities - one limited • at least one legal entity or at • at least one individual or legal entity but no more than legal entities partner and one general least two individual entities legal entity

agreement on a future contract for the whole project (plot included) of the 50 individual or legal entities ounder

F partner company establishment of a company

registration with state administration 1) • minimum registered capital • minimum registered capital • minimum registered capital • registered capital or • minimum contribution in the in the amount of 5,000 EUR, in the amount of 1 EUR, 2) in the amount of 25,000 EUR, “small” Environmental Impact Assessment shareholder’s contribution is amount of 250 EUR for each minimum contribution in minimum contribution per minimum contribution per not required limited partner the amount of 750 EUR per shareholder in the amount of 3) shareholder is not stipulated development permit shareholder 0.01 EUR contribution / shareholder ’ s

contract for puchasing the plot capital R egistered

registration of the purchased plot 4) • each shareholder is entitled • executive officer (at least one • board of directors (at least • board of directors (at least 5) to act within the extent agreed • general partner building permit individual entity) one individual entity) one individual entity) body between shareholders tatutory investing (payments) S • only one person is necessary • issuance of shares with construction • limited partner without a to set up the company • shareholder is not liable for special rights - option to adjust non-compete clause • partner is only liable for the the company’s liabilities • not necessary to pay share of profit, share of voting hiring and training people • low mandatory contribution company’s liabilities up to • shareholder anonymity shareholder’s contributions or rights or access to information • limited liability of limited the amount of his/her unpaid - except for the sole form registered capital • associating voting rights only installation of equipment and machinery partners contribution shareholder, the shareholders • simple management to one share is sufficient • possibility to pay profit in • simple organisational are not registered in the public structure • no need to establish an 6) advance to general partners structure - general assembly register - the Commercial final inspection and final approval • option to establish GCP obligatory supervisory board • different levels of guarantees and executive officer r-egister of the Slovak through two legal entities, • other grounds for winding between partners – the • higher shareholder Republic start of new production after 14 months which effectively modifies the up the company can be agreed A dvantages general partner is liable for participation in company • unlimited number of extent of liability otherwise to as a statute (beyond the * 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 environ- all of his/her possessions, the governance than in the case of shareholders present in the case of a scope of legal enumeration) ment, especially from industries such as metallurgy, mining, chemistry, wood processing, etc. It integrates several permits which are necessary during the realisation limited partner is liable up to a limited partner • possibility to choose between shareholder - individual entity • simple entry and exit of of the project. The whole process might take six months and this period includes preparation of all documentation, approval process and issuance of the final permit the amount of his/her unpaid • registered capital is not private and public joint stock a shareholder from the by the Ministry of Environment contribution required to be deposited in the company company 1) the tax office, a health insurance company and the social security provider Sociálna Poisťovňa bank account 2) “small” Environmental Impact Assessment (EIA) = assessment of a new plant’s environmental impact by professionals from different fields; timing includes prepa- • maximum 50 shareholders ration of all documentation, approval process and issuance of the final permit by the Ministry of Environment • individual person can be the 3) (permit which confirms the possibility to use selected plot for the planned construction of the building; this permit also confirms that the planned building meets • the shareholders bear joint sole shareholder in max three • company cannot be all legal conditions and after finalisation will be usable), it is issued by stavebný úrad (the construction office) located in the district where the project will be realised and several liability for the limited liability companies • compulsory creation of a • more extensive need established on the basis of a 4) registration of the purchased plot in the land register (cadastre) at the katastrálny úrad (the cadastre office) located in the district where the project is realised partnership’s debts with their • the limited liability company reserve fund (at least 10% of to regulate the internal public offer of shares 5) building permit (permit for the construction of the building) is issued by stavebný úrad (the building office); it includes all legal conditions, which have to be entire property with a sole shareholder cannot the share capital at the time of functioning of the company in • limitation of control over followed during the construction process, in order to obtain the final building approval which allows the investor to use the building for production (if during the • cannot carry out non- be the sole founder or the sole company’s establishment) a memorandum of association the company in favour of the construction process the investor is making changes in its original project, it is necessary to legalise all the changes before the final approval) business activities shareholder of another limited • compulsory establishment of • unlimited liability of the shareholders (investors) 6) final inspection and final approval (for the final inspection it is necessary to prepare all documentation which also includes the design of the construction, safety • minimum number of two liability company the supervisory board (at least general partners • fees related to the approvals, functionality of the building, etc) partners - possible risk of • shareholder cannot three members) • minimum number of two establishment of the company winding up the company after unilaterally withdraw from the • the highest costs for Source: GFI a.s., property development and design consultant (www.gfi.sk) and ENTO, projecting and advisory company (www.entoke.sk) partners - possible risk of are estimated up to the the death or liquidation of one company establishing a company among

D isadvantages winding up the company after amount of 1,000 EUR + a of the shareholders • company cannot be all types of companies the death or liquidation of one monthly fee related to the TIMELINE FOR MASS RECRUITMENT (100 NEW EMPLOYEES) • prohibition of competitive established by person or entity • high minimum registered of the partner mandatory shareholder conduct for shareholders in with tax or customs arrears or capital account Month Action the scope of their business arrears against Social Insur- ance Agency (except a foreign 1 2 3 4 5 6 person or foreign entity) • the most widespread and identification of needs (preparation of the plan) most complex type of company • infrequently used type of • banks for common business activities advertising, mass mail, sourcing business company • infrequently used type of • insurance companies in the Slovak Republic • businesses without the need business company • capital-intensive industries, • startup businesses • suitable for small, medium 600 CVs 600 CVs 600 CVs 600 CVs 600 CVs reading CVs (3,000 CVs read) for higher capital, especially • entrepreneurs who want to e. g. heavy industry • entrepreneur with business and large businesses for services for which the separate the capital part from • entrepreneur with a larger intentions but lacking the • suitable for stand-alone 300 calls 300 calls 300 calls 300 calls phone screening (1,200 phone calls) personal contribution of the the real management of the personal substrate sufficient capital entrepreneurship - one person for S uitable entrepreneur (e. g. crafts) company • may not be suitable for new can be the sole shareholder 150 interviews 150 interviews 150 interviews 150 interviews job interviews: recruitment agency & applicants (600 interviews) exceeds the need for capital entrepreneurs and executive officer at the 100 CVs 100 CVs 100 CVs 100 CVs introduction of selected CVs to potential employer (400 CVs introduced) same time 60 interviews 80 interviews 80 interviews 80 interviews job interviews: potential employer & applicants (300 interviews) For the purposes of a comparison of business companies, only business companies pursuant to section 56 paragraph 1 of Act no. 513/1991 Coll. Commercial Code were taken into account. 30 applicants 40 applicants 40 applicants 40 applicants selection of applicants for training (150 applicants selected) Except for the above-mentioned company types, the legislation of the Slovak Republic also regulates a co-operative as an entity established for the purpose of either carrying out business activities or meeting the needs of its members. 60 applicants 60 applicants training (120 applicants participating in a training) A European company was stipulated in the legislation of the Slovak Republic by Act no. 562/2004 Coll. on a European Company. A European company (Societas Europaea) is common for most countries in the European Union. 100 employees 100 hired applicants Source: BSCF 2017 Survey Source: Adecco recruitment agency (www.adecco.sk) Source: SOUKENÍK – ŠTRPKA, law firm (www.akss.sk) 30 years of freedom 13 30 years The changing face of Slovakia of freedom Trenkler - Shell Parádna) Trenkler

Martin

Thanks to highways Slovaks can get to their destination faster (Photo: Thanks to highways Slovaks can get their destination faster hat Rick Zednik, an Economic progress an automatic washing machine, at 819. The improvement comes American with Slovak A lot of Slovaks still think that by 2014 the rate went up to 90 amid stricter rules and heavier fines roots, loved about their wages buy less today than percent. for violations. SlovakiaW back in 1994 was that before the 1989 fall of the commu- Of course, under communism It is true that economic crimes money was not as important as it nist regime. They are wrong. unemployment was basically non- have increased in Slovakia by 60 is today. Data of the Institute for Finan- existent; jobs, even if artificially percent since 2011, with roughly “I was stunned to learn that cial Policy showed the average net created, were taken for granted. one-third of the surveyed 76 Slovak a government minister still lived monthly wage in 1989 was 3,142 After a difficult three decades of companies encountering fraud over in a Petržalka panelák [a suburban Czechoslovak crowns (approxi- high unemployment, the unem- the past two years, as indicated by concrete apartment mately €104). In 2018, the ployment rate is a lot lower, and a recent PwC survey. block], and didn’t con- monthly average salary in the country needs to import labour Though travelling from sider it to be a hor- Slovakia exceeded the from abroad. Bratislava to Košice, a major city in rible fate,” Zednik, €1,000 threshold eastern Slovakia, might take a long one of the founders for the first Safer than before time as Slovakia has not completed of The Slovak Specta- time. Slovakia is one of the safest its cross-country highway, the travel tor, said. “I remember Food prod- countries in the world, according time has considerably shortened a young colleague ucts are cheaper to Eurostat. While the number of over the years. In 1993, the train from a middle-class and more widely murders has been dropping, crime ride took seven hours, but in family, who had never available now than under the com- trends changed dramatically at 2019, an intercity train could take had dinner in a restaurant. Now, munist regime. Older generations the turn of the century, when the travellers from one city to another even teenagers hang out spending can still easily recall images of half- gangster-style politics of three-time money in hip cafés and bars.” empty shelves at the grocery store. prime minister Vladimír Mečiar Zednik, who has since pub- To buy a basket containing ended and Slovakia began pursu- lished a book about Slovakia called 10 basic foodstuffs, Slovaks had ing European Union member- A Country Lost, Then Found, re- to work one-quarter less in 2014 ship. Slovak roads have calls that one could spot a foreigner than they did under communism. become safer as well. In in Slovakia from across the street The difference is even more visible 2018, as many as 229 just by looking at their clothes. in the case of clothing and home people died on the “Now, Slovaks of all ages are appliances. While in the 1990s country’s roads, while in more fashion-conscious,” he said. only two-thirds of households had 1998 that number stood

Photo: TASR 14 30 years of freedom 30 years of freedom 15

job candidates, how to run an More confident advertising campaign and how to Although the 2015 refugee cri- sell goods. sis in Europe produced controver- “That was the worst; selling sial reactions in Slovakia and people did not come naturally to Slovaks; have opted to vote for parties who neither selling a product, nor even voiced their refusal of migrants selling themselves to a potential with different cultural backgrounds employer,” Zednik said. “But com- arriving to the country (including ing from New York, as I did, the a fascist party that made it to the Jana Liptáková) lack of pretence was also wonder- parliament), in other ways Slovakia fully refreshing.” has evolved into a more diverse so- Pavol Funtál) Pavol Two generations later, most ciety since the fall of communism. children in primary schools around Foreigners are no longer stared Slovakia learn English as their first at on Bratislava streets and English foreign language. Many of them is heard often. start learning as early as six years No doubt the country, which old. It is also becoming common now enjoys freedom of speech and for Slovaks to spend at least one free movement, has some issues

The construction of Eurovea in 2007 (Photo: of Eurovea The construction semester of their university studies to tackle, with corruption high in just over four and a half hours. Language – and other – barriers fall “One thing that struck me abroad, as Erasmus students or on the list. 2018 marked a major today Eurovea (Photo: skyline from The view of Bratislava‘s The driving time from Bratislava to For foreigners, one of the prob- was how eager Slovaks were for me through other exchange pro- movement in society following the Businesses found their home confidence, which is very healthy. magnetic resonance devices has Košice is shorter by 30-45 minutes, lematic aspects of life in Slovakia to teach them what I knew,” said grammes. murder of journalist Ján Kuciak A survey conducted by foreign Slovaks have achieved great things increased. The process of diagnos- depending on the route. shortly after the fall of communism Zednik, recalling his time in Slo- That contributes not only to and his fiancée Martina Kušnírová. chambers of commerce in Slovakia in all fields, so that they now sit ing diseases has improved as well. From 1969 to 1993, during in the 1990s was the language gap vakia in 1994. “This surprised and their improved language skills but Observers agree the year has has shown that 73 percent of comfortably alongside peers from The positive trends suffered the rise of independent Slovakia, they needed to overcome. That gap humbled me because I was only 23, also to their intercultural compe- changed Slovakia. Press freedom foreign investors polled said they anywhere in Europe or the world.” a blow in 2014 and 2015, when 198 kilometres of highways were was even wider outside Bratis- and I really did not know much. tencies. As a result, HR experts has become a greater concern in the do not regret picking Slovakia and major corruption scandals were built. As of 2018, Slovakia had 482 lava, making it more difficult for I understood the requests for me to note that English language is no country, along with the suspected would do so again. Living longer reported in health care, while kilometres of highway and 287 foreigners to travel to other regions. teach English, even though I was longer considered an asset but ties between the government and The country, which back in People in Slovakia now live six nurses and other health care kilometres of speedway. As a result, the lack of foreign-lan- not a trained teacher. English was rather a must on the labour market. the underworld. 1989 barely had a handful of hotels years longer than their grandpar- workers protested their working Before 1989, only a limited guage proficiency limited tourism. my native language, so I had that As for university education, Many Slovaks took to the meeting international standards, ents did. The average life span in conditions. The Eurostat, together number of car brands drove on Foreigners, however, also knowledge to share.” back in 1991, only 5.8 percent of streets in protest throughout the now boasts more than 10 five-star 2018 was just over 73.7 years for with OECD, released the results Czechoslovakia’s streets, mostly the greatly contributed to closing that Language was, however, not the country’s population (306,920 year, demanding changes in the hotels, many shopping malls, golf men and 80.4 for women, still of its survey, which shows Slovaks former Czechoslovak-made Škoda, gap in the 1990s. Shortly after the the only asset the locals were eager people) had a degree, according government and the police depart- courses and dozens of aquaparks. a few years behind the average of were at the bottom of the ranking East Germany’s Trabant and Wart- revolution, opportunities opened to learn from foreigners. Zednik to the Statistics Office data. The ment, along with more public de- “Slovaks have lost the sense of developed countries. Slovakia has of years of healthy life: while the burg, Romania’s Dacia, the Polish- for young native English speakers said he was unprepared for how results of the 2011 census suggest cency. In March 2019, the country innocence that I found in 1994. been making progress thanks to its EU average is 62 years, Slovaks can made Polski Fiat, and the Soviet to come to Slovakia and teach, even people expected him to teach them that nowadays, as much as 13.8 elected Zuzana Čaputová, who This is true in every sense,” Zednik improving health care. Hospitals only expect to live without health Volgas and Ladas, among others. those who hardly had the qualifica- about things like capitalism, how percent of the population (747,968 embodies the ethos of the protests, said. “They now have the skills to rely on more advanced technol- problems until the age of 55. While some of these cars have tion for teaching. to raise capital, how to interview people) are university graduates. as its fifth president. succeed, and this has engendered ogy, and the number of CT and On a more positive note, become part of vintage collections, the consumption of tobacco and Slovak roads now feature essen- alcohol has dropped in Slovakia tially all of the world’s car brands. since 1989. Slovakia has also seen Moreover, the country is home its number of abortions drop to four international carmakers: dramatically. In 1990, there were Volkswagen, Kia, CitroënPeugeot, more than 35 abortions per 1,000 and Jaguar Land Rover, elevating women but in 2018, that number Slovakia to the world leader in stood at a historic low of less than 5 terms of car production per capita. abortions per 1,000 women. Flight connections to Slovakia Slovaks are also breathing have significantly improved as cleaner air due to the restructuring well. In the early 1990s, there were of the country’s economy and less flights only to a maximum of 10 dependence on heavy industry. The destinations. There were 47 flights highest measured annual con- to 41 destinations in 18 countries centrations of sulphur dioxide in included in the 2019 summer earlier years exceeded today’s levels schedule. Slovakia, however, does nine-fold, carbon dioxide by ap- not have a national air carrier and proximately threefold and nitrogen SME SME

the Bratislava airport is used mostly oxide and small dust particles were by low cost airlines. double today’s levels. Source: Source: 16 30 years of freedom 17 Katarína Hoppe, partner at BMB Partners: On changes in tax law and taxpayer preferences BMB has achieved two a surprise to us is that second and 100% of eligible costs to 150% for Masár: Slovakia is a story important milestones this year: third place were taken by tax law 2019 and to as much as 200% as you were recently promoted to measures with qualitative rather of 2020. a new partner and your company than economic impacts. Instead The rules for carrying forward of economic success has joined the largest independ- of a further decrease in tax rates tax loss are being changed, too. he November 1989 student Eastern Bloc countries. It was ent global tax network Taxand. and an extension of tax relief, the From 2020, it will be possible to protests triggered the Velvet undercapitalised and strongly in BMB has also prepared the Tax- companies would welcome more carry forward tax losses for one year Revolution that brought debt, resulting in a decreasing parency ® Report for the third predictable changes and an overall longer, i.e. for five years according Tdown the totalitarian regime. The competitiveness compared with year in a row, cooperating with simpler tax system. The entire to the requirements of the taxpayer. transformation from a centrally Western Europe. This was, in my Finstat and Trend. The 50 biggest Taxparency ® Report can be found The term micro-taxpayer is controlled economy to a market opinion, one of main reasons why contributors of direct taxes to the on our website www.bmb.sk. being introduced (max. revenues: one was an important part of the the regime collapsed. Slovak state budget were evalu- EUR 49,790). Micro-taxpayers will transition that followed. In Slovakia, At that time, the Slovak ated in the report. What are the There has been a lot of discus- be able to benefit from simplified the split of the federal republic in economy was part of the economy most important conclusions of sion about the newly adopted tax rules when it comes to deprecia- 1993, along with the need to build of the Czechoslovak Republic with this year’s report? law changes, which take effect tion, recognition of allowances and the national economy, new institu- certain national particularities, such Thank you. We are very proud on 01/01/2020. Can you explain carrying forward tax loss. Katarína Hoppe tions and organisations anew, further as a high unemployment growth, of all of our achievements. Regard- which changes are being intro- Starting from 2020, it will complicated the situation. a relatively strong concentration ing this year’s Taxparency ® report duced in particular? be possible to claim depreciation trative burden compared to other Vladimír Masár held senior in the armament industry and and the source of capital, the big- First of all, it should be stressed charges in the new depreciation forms of tax relief, this change governmental positions when the lower institutional representation, gest contributors to the Slovak state that this year, the changes have group “0” with a depreciation pe- should bring a new increase in the federation was splitting into the new in political as well as commercial necessary for the proper functioning they have obligations towards the budget are again companies from been adopted unusually early; both riod of two years. This depreciation number of businesses that invest in Slovak and Czech Republics. He spheres, compared with the Czech of the market economy in the new state, their employees, partners and other EU Member States. Their the government and the parlia- group will be reserved especially for innovations and claim this relief. spoke to The Slovak Spectator about Republic. On top of this, the sovereign state. so on. share has reached more than 44 %. ment should be praised for that. electric and hybrid vehicles. In order to claim the super the challenges Slovakia faced back transformation process in Slovakia TSS: What could we have done TSS: Does Slovakia benefit in Besides the positive changes deduction, the taxpayer needs then, including privatisation and was after 1993, when the federal differently? any way from the fact that it had to I have just mentioned, there a product, technology or process the creation of the country’s central republic split, complicated by the VM: We must perceive what build many of its institutions from are also some new changes that with elements of novelty or innova- bank, but also about Slovakia’s cur- necessity of building a sovereign was happening through the prism of scratch? strengthen the tax law, in particular tion. Taxpayers that wish to claim rent preparedness for a possible state. that time and take into account what VM: Most of the processes have the extended scope of expenses the super deduction are obliged to economic slowdown. TSS: What were the biggest was known then. It was necessary to some pros and cons. So, building our which may not be treated as tax prepare documentation (a “pro- The Slovak Spectator (TSS): challenges Slovakia’s economy privatise state property quickly, to institutions on a green field meant deductible unless paid, the intro- ject”) describing the subject matter Do people in Slovakia live better faced during the transformation? transfer state ownership to private that we did not need to transform duction of prevention of hybrid of the research and development. than they did under the commu- VM: The transformation process hands while Slovakia was in the old structures into new ones and mismatches with third countries, The project must be signed by the nist regime? in Slovakia started shortly after the phase of building its own organisa- instead took the latest know-how and stricter registration and person authorised to act on behalf Vladimír Masár (VM): Emo- revolution within the transformation tions and institutions. Most of the and expertise to build the most reporting obligations related to the of the company until the tax return tions and nostalgia aside, statistical of the Czechoslovak economy. Its important bodies and headquarters modern institutions. This was, for possible creation of a permanent filing deadline. data referring to the gross domestic important part was the privatisation of the companies were in Prague, and example, the case with our clearing establishment. product or incomes show that the of state-owned property. Apart from we lacked the know-how, too. Look- house, which was considered to be This year, we have expanded The most important changes are, Of course, changes are also be- To conclude, I have a rather standard of living for Slovaks is, in technical realisation, time also played ing back, we can now say that despite one of the highest quality clearing the study by a survey, in which we in short: ing introduced in the field of indi- personal question. A number general, significantly higher than an important role as the weakening the mistakes that occurred during houses in the whole of Europe at that asked the biggest taxpayers which The decrease in the income viduals. To name a few, the tax-free of your clients as well as your 30 years ago. On the other hand, of the economic power of the politi- this process, the story of independent time. Also, during the creation of of the ten most often discussed tax tax rate from the current 21% to personal allowance has risen, and husband are in Germany. How do a closer look unveils a difference in cal representation was an important Slovakia is a success. Other countries, Slovakia’s central bank, the National measures and changes they rank as 15%. This reduced tax rate will the scope of tax-exempt income has you balance your work for BMB income, and this gap is bigger than precondition for a definitive change in spite of better starting conditions, Bank of Slovakia, we tried to utilise most important. be applicable by legal entities and been extended. Partners and frequent travelling? it used to be under the previous of the regime. At that time, no one did not avoid mistakes either. the latest experience and knowledge. individuals – sole traders, provided We have good working regime. There are groups who do not was sure that it would not just be When looking at the transforma- On the other hand, it was a hectic What are the changes the big- that their revenues/income for the The tax relief in the form of relationships and a constructive feel the statistics are a true reflection. another failed 1968 Prague Spring. tion process from today’s viewpoint, period with neither enough time nor gest taxpayers prefer? relevant tax period do/does not the super deduction of as much environment in our company. My Another factor affecting perceptions After the launch of independent we should have paid greater attention experts. Just as we expected, the clear exceed EUR 100,000. as 200% of expenses for research husband and I live in Germany, of our quality of life is the efficiency Slovakia, we continued in the pri- to the transfer of assets from private TSS: You were appointed to winner is the need to decrease the Another very positive change is and development seems to be and I travel once or twice a month and performance of the public sec- vatisation process, while people did ownership to personal. Today, we manage the launch of the central total tax and social security burden the increase of the “super deduc- worth considering. Can you from Germany to Bratislava, tor, in some sectors like health care, not have the best experiences with call this process siphoning, tunnel- bank. What did this process on work, as according to 25% tion” of expenses for research and shortly explain who can claim spending approximately one third education, highways and other methods used during the times of the ling in Slovak, and it is illegal. This involve? of big taxpayers. What came as development from the current the deduction and what the basic of the month in Slovakia. Our IT infrastructure. Here, leaving aside federal republic, like small privatisa- transfer harmed or destroyed not VM: The central bank was conditions are? systems and video communication the scientific and technical progress tion and coupon privatisation. Under only many companies, but also the one of the most important new  BMB TAXPARENCY SURVEY Responses As I have already mentioned, enable very efficient teleworking Slovakia has achieved, people’s dis- the latter, people could exchange state, employees, creditors, co-owners institutions Slovakia needed to 1 Decrease in total tax and social security burden on work  25% the super deduction of research and and my colleagues and clients have satisfaction is justified. coupons they bought cheaply from and other players on the market too. launch. Originally, there was a plan development costs has gradually gotten used to it and feel comfort- TSS: What was the condition the state for shares in companies. Today, business people know that to build it from the Slovak part of 2 More predictable and less frequent changes  21% increased from 100% to 200%. able this way. Where there’s a will, of Slovakia’s economy in 1989? At the same time it was important owning a company does not mean the divided former state bank Štátna 3 Tax system simplification  19% Given the relatively low adminis- there’s a way. VM: Very similar to other to continue building institutions they can do what they want and that Banka Československá. However, as

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BMB_PR_2019.indd 1 7. 11. 2019 16:53:51 18 30 years of freedom Freight transport and posting of employees processes on the side of the former sion, where it was responsible for the motive industry in Slovakia was was decided well before that. Not from the perspective of the EU law state central bank were too slow, the stability of the banking sector and a result of governmental policies or long after it emerged, the Slovak Slovak cabinet at that time appointed regulation of commercial banks. This individual decisions of investors and Republic committed itself to fulfil me, while I was serving as the state meant that the central bank itself the market as such. The investors the Maastricht criteria, an inevitable (de lege ferenda) secretary of the Finance Ministry, had political influence as its deci- chose Slovakia as the destination for precondition for the adoption of to manage the creation of the new sions affected a large portion of the their investment on the basis of some the euro. Entering the eurozone was reight transport is a business within Mobility Package Initiative central bank. We encountered a lot population. preconditions, such as the availabil- a long-term process. The important activity that has various I should be adopted, according of problems, but the most pressing In terms of pressure from the ity of a highly qualified workforce thing is that Slovakia fulfilled these unresolved issues, including to which the road transport one, for both new central banks, was side of politicians, it is obvious that with sophisticated skills and low technical criteria and that there Fthe status of employees carrying enterprises may not carry out the the foreign exchange currency. the cabinet had its own goals and wages. The arrival of the carmaker was the political will to adopt the out the work of drivers outside of cabotage with the same vehicle in This was one of the reasons visions, and that these sometimes Volkswagen meant that this territory euro. There are countries that were the territory of their place of work, the EU member state for five days we adopted certain measures, for collided with those of the central became attractive to suppliers and technically prepared but did not have which, in the respective countries of following the termination of the example keeping the common bank. There were, from time to time, other carmakers. the political will to make use of this the European Union (EU), is not laid last freight transport in the same currency for at least six months tensions between the cabinet and the Of course, there are pros and and stayed outside the eurozone. But down consistently, causing a financial EU member state. after the federal republic split on central bank. It was important that cons to everything, and it is obvious this does not mean that they are not and administrative burden on their Members of the European January 1, 1993. But the common financial limits between the govern- that the concentration of the auto- strongly linked to the euro. employers. Slovak employers often Parliament also propose changes currency ended just a few weeks later ment and central bank were strictly motive industry is now the Achilles’ Of course, the euro has its struggle to determine whether the which would lead to the adoption Mgr. Barbora Mihaliková JUDr. Katarína Mesiariková and Slovakia had to very quickly defined by law, and during my term heel of Slovakia. This is the reality we positives and negatives. Even though employee carrying out the work of the of better conditions for the drivers, introduce its separate monetary they were never exceeded. got into when we were addressing I had an above-standard emotional driver is posted outside of the territory of the territory of the Slovak According to the directive rest. According to the adopted text, policy. One of the more down-to- When I now look back at my problems of high unemployment, relation to the Slovak crown, I still of the Slovak Republic in relation Republic (in this case services proposal2 the minimum posting the obligatory weekly rest of the earth issues was marking banknotes time as governor, we always held undercapitalisation and low added believe the advantages outweigh the to the service provision (posting) other than transit, loading or period should be laid down, which, drivers should not be taken in the with Slovak stamps to distinguish fair discussions with the cabinet and value in the economy. Now we have disadvantages as Slovakia has been or whether their stay outside of the unloading of goods in another EU if not exceeded, shall mean that cabin of the vehicle. them from the Czech banknotes. looked for compromises while the to address our high dependence on closely interconnected with eurozone territory of the Slovak Republic is Member State), such an activity the rules of the host member state This represents only the We also negotiated full sovereign bank kept its independence. the automotive industry. We should member countries in terms of trade. considered a foreign business trip. The is considered a posting and the on minimum wage and paid yearly minimum extent of changes which membership with the International TSS: Slovakia, after the period diversify the economy to a greater TSS: Is Slovakia prepared for answer to this question is relevant to status of the employees (notably holiday should not be applied; in should be implemented prior Monetary Fund and the World of Mečiarism, bet on tax relief and extent and pursue more added the economic slowdown or even the employers mainly for the purpose wage claims, i.e. minimum wage) is regards to the wage claims of the to the adoption of the declared Bank, which created preconditions other incentives to draw foreign value. This means we should focus recession forecast by economic of proper payment of wage claims to governed by the generally binding employee, the employer will apply initiatives in relation to freight for a fast access to foreign exchange investors here. Was this, from to- on innovations and R&D, not only analysts? the employees, which differ for foreign regulations valid in the state in the legal order of the EU member transport. According to the EU, financial resources. Along with this, day’s point of view, a good strategy? at lectures and conferences, but in VM: When looking at some business trips and postings. which the transport or the service state in which the employee the aim of the initiative is to adopt we launched the process of obtaining VM: It is natural that all govern- real life, starting with the education aspects, like public finances, it seems According to provisions are carried out. has his place of work. The clear rules for posting drivers in the the first international rating for ments try to attract foreign investors, and construction of scientific parks we were not expecting a slowdown or Slovakia’s generally binding The legislation of respective abovementioned minimum period highly mobile sector of road freight Slovakia which was obtained from but it is always better to improve and R&D centres, and ending with a recession at all. Slovakia could have regulations, if the driver of a freight EU countries is not consistent. EU should not exceed 3 days during transport while laying down precise the Japan Bond Research Institute. the business environment than to their implementation to make our had a surplus budget a long time transport over 3,5t has his place Member States regulate the posting one calendar month. However, legal framework for the status of Afterwards, we sold the first issue do it via individual stimuli, which products more competitive. ago, and this surplus could have cre- of work within the territory of issue differently, meaning that the this time period will not be employees in freight transport. This of state bonds while the proceeds, in the end deforms the business TSS: Did Slovakia have to be- ated space for governmental stimuli the Slovak Republic, where he employer is obliged to respect the applied on the so-called cabotage, should prevent the application of USD500 million if I remember environment. Capital does not have come the small and extremely open during an economic slowdown. The also carries out his work, and wage conditions of different EU through which the employer different rules across EU member correctly, were immediately used to a homeland, therefore it is essential economy that it is today? reality is that in spite of strong he only performs transit, or the Member States according to the must assess the wage claims of the states in this sector. support the central bank’s foreign to create an attractive environment VM: The size of our country periods of economic growth, rising loading or unloading of goods in territory within which the transport employee according to the law of Nevertheless, transport exchange reserves. This money for all investors, not only for some and thus the inner market is a matter governmental revenues and better ef- another EU Member State, such is carried out. For this reason, in the host state, where the transport companies have reservations actually helped stabilise our foreign ones. In addition to the of fact, we cannot change. In terms ficiency in tax collection, a balanced a trip is not considered a posting 2017 the European Commission takes place, irrespective of its towards the EU initiative and monetary policy and also the macro- inflow of capital, which was often of openness, there are examples of budget remains an unreachable goal. (regardless of the duration) but introduced three initiatives relating duration. The aim of the directive perceive the proposals rather economic situation of the new state. too excessively highlighted regardless countries that wanted to keep their A deficit state budget is not only rather a foreign business trip. In the to the governance of commercial is to lay down unified rules for negatively due to the increase in Thus, the development was very of the subsequent outflow of capital economies relatively closed, but this a matter of accounting, but it has case of a foreign business trip, the road transport in the EU under the the assessment of the status of financial burden. The adoption dynamic back then. in the form of dividends and other has never been to the benefit of these to be covered by real money, which wage claims of the employee are “Mobility Package”, representing freight transport drivers and their process of the respective initiatives TSS: As the governor of NBS transfers, I highly acknowledged the small economies. In general, any otherwise could have been used governed by the law of the Slovak the biggest change in EU road remuneration in relation to the has not been completed yet, for six years, did you face any impact of these investments mainly economy benefits from being open, differently. Republic1. transport rules. Each initiative performance of work outside of the therefore the extent of their actual political pressure? from the perspective of creating new given that mutual relations are fair When we look at the perfor- However, if the employer, covers various areas; postings EU member state in which they adoption and implementation by VM: The central bank is, by law, work places, transfer of know-how and of benefit to all participants. mance of the public sector, it is through its employees, provides are covered by Mobility Package have their agreed place of work. the respective EU member states TSS: How do you perceive the an independent body. At that time, it and corporate culture with higher lagging behind compared to both services to a third person outside Initiative I. Moreover, a regulation3 has yet to be seen. had much more influence and power ethical principles and social responsi- adoption of the European single OECD and eurozone countries, as than it has today. This was because bility to society. currency in 2009 and the timing of well as most EU member countries. Slovakia had its own monetary policy TSS: How do you perceive this change? What advantages and Thus, until Slovakia manages to and currency, the Slovak crown, the replacement of the armament disadvantages has the euro brought increase the efficiency of public ad- and also because the central bank industry, after it lost markets, by to Slovakia? ministration significantly, the govern- assumed the functions of several the automotive industry, with the VM: This question suggests ment should ponder very thoroughly institutions and bodies, which were strong support of the government? that things only began at the the further financial burdening of the 1 The employee is entitled to the same compensation as with the foreign business trip according to Act No. 283/2002 Coll. on travel remuneration and Slovak wage claims (minimum wage etc.). launched later. It had a much bigger VM: I don’t know to what point when Slovakia adopted the business sector and citizens. 2 Proposal for a directive of the European Parliament and of the Council amending Directive 2006/22/EC in regards to enforcement requirements and laying down specific rules with respect to Directive 96/71/EC influence within the bank supervi- extent building the strong auto- euro. But the euro as our goal By Jana Liptáková and Directive 2014/67/EU for posting drivers in the road transport sector is part of the Mobility Package I. 3 Regulation of the European Parliament and of the Council amending Regulation (EC) No. 1072/2009.

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Soukeník_1_PR_2019.indd 1 12. 11. 2019 14:17:15 opportunities: automotive industry 21

Slovakia is not just a car assembly hall anymore Opportunities remain the main pillar Automotive industry by the numbers environment. This includes adequate of the Slovak economy, income, corporate and payroll Share of annual GDP 13% the automotive industry taxes, little red tape as well as a good Share of the automotive production in industrial production in Slovakia 46.8% Toneeds to jump on the new wave education system. However, Slovakia of electromobility and draw more Share of the automotive production in the industrial exports of Slovakia 35% has taken the opposite approach, the investments into research and Number of people employed directly in automotive production >177,000 government increased surcharges for development. That is the only way Total number of people employed in the automotive industry >280,000 work during nights, holidays and to advance from merely assembling Value of exports generated by the automotive production >€37 bn weekends, introduced compulsory cars to a more sophisticated industry Number of cars produced in Slovakia in 2018 1,093,215 holiday vouchers, and increased the a modern country can take pride in. Source: ZAP SR minimum monthly wage by €60, In this respect, the latest project to €580 for 2020. Moreover, as of of Porsche, intending to build an and prepare prototypes of produc- towards the end of 2021. This initia- 2021, the pattern for calculating the R&D centre in Slovakia, signals tion equipment for the car industry. tive comes as the result of a strategic minimum wage will change to equal that local companies are prepared to Porsche will also test prototypes of alliance between InoBat and its US- at least 60 percent of the average answer the challenge. automated lines for joining, gluing, based technological partner Wildcat gross wage. riveting and screwing sub-assemblies Discovery Technologies, later joined “Slovakia has just complicated Research headed to Piešťany as well as entire assemblies of com- by Matador, the premium Slovak its position in terms of its busi- In October 2019, the govern- ponents. supplier of the automotive industry. ness environment, since the latest ment approved an incentive of €2 “In terms of the long-term It aims to become a global leader in [legislative] changes have signifi- million for Porsche Werkzeugbau, prosperity of the Slovak economy, automotive battery development and cantly increased the wage costs of a subsidiary of the German carmaker it makes the most sense to support production, with a plan to upscale to companies,” said Jesný, adding that Porsche in the town of Dubnica nad investments focusing on R&D,” said a 10 GWh mass production facility carmakers citing investments in the Váhom. The company that is part Economy Minister Peter Žiga. in the long term. billions of euros have indicated that of the Volkswagen group will build Such an investment generates This cooperation of companies they would expect a little better a new technology centre, focusing on a much higher added value than with research institutions envisages treatment from the side of the state. the automatisation and robotisation car assembly, and indicates that the unique combination of an R&D of car production, in Horná Streda, Slovakia will become more than just centre and a production line that New models propel car production a village near the western-Slovak spa an assembly hall, said Martin Jesný, allows for the continuous develop- As of 2018, Slovakia is home town of Piešťany. With a plan to industrial analyst at Revue Priemyslu ment of proprietary batteries in close to four carmakers: the oldest one, invest nearly €14 million, it should magazine. This sends out the signal cooperation with electric vehicle Volkswagen Slovakia in Bratislava, employ about 30 people by 2023. for other companies to present manufacturers. Kia Motors Slovakia in Teplička nad In the new centre, the com- similar projects. “Together with Matador and Váhom near Žilina, Groupe PSA pany will develop and verify the “It is proof that the Považie Wildcat, InoBat Auto will not Slovakia in Trnava and the most re- manufacturability of components region has managed to transform only provide much-needed battery cent arrival Jaguar Land Rover in Ni- into a modern manufacturing independence for the European tra. In 2018, more than 1,090,000 Largest receivers of state investment inCentives in industry with people able to work market, but will also contribute to vehicles rolled off their production automotive sector with the latest modern machines and the transformation of the Slovak lines. Slovakia has remained at the between years 2003-2018 technologies,” said Jesný. economy from manufacturing to top of the world ranking in the Total state investment Moreover, the new investment knowledge-based,” said Marián number of cars produced per 1,000 Company incentives in shows that the Volkswagen concern Boček, InoBat’s co-founder and ex- inhabitants in the past few years. In EUR mil has maintained its trust in Slovakia, ecutive chairman, as cited in a press 2018, it maintained first place with Kia Motors Slovakia 233.09 even though it moved its tool fac- release. 198 vehicles, eight more than the PCA Slovakia 184.6 tory, along with the 3D printer from Jesný sees this project as one that previous year. Jaguar Land Rover Slovakia 129.8 the western-Slovak town of Stupava, should be welcomed in Slovakia, Sector watchers estimate that GETRAG FORD Transmissi- to Germany in early 2019. especially stressing the requirement car production will also exceed one ons Slovakia 57.5 of InoBat to have related R&D in million in 2019 when the brand Mobis Slovakia 47.3 Slovakia will produce car batteries Slovakia. new Jaguar Land Rover plant in Magneti Marelli Slovakia 41.44 Another piece of good news “This is exactly the kind of Nitra, which launched production in Continental Matador Rubber 34.51 for Slovakia is the plan to construct project that draws investments into late 2018, is expected to contribute Honeywell Turbo 23.08 a 100 MWh battery production Slovakia and makes usage of the to the final number. On the other Johnson Controls Lučenec 22.2 line in the near future with the price knowledge and expertise of existing hand, lower car sales in China, the Minebea Slovakia 19.25 tag estimated at €100 million. Its companies,” said Jesný. US and Great Britain due to Brexit,

Continental Automotive construction is expected to begin To draw more such invest- and the tariff wars are pushing global Systems Slovakia 18.23 in the first half of 2020, with the ments, Slovakia needs to have an car production down. Source: Ministry of Economy first batteries ready for distribution investment-supporting business “Even though the world car

Photo: AdobeStock 22 opportunities: automotive industry

market reports a decline, the car- In 2019, the new generation of Carmakers in Slovakia makers in Slovakia are faring above Peugeot 208 replaced the first gen- What entrepreneurs should know when Company Employees Total investment Location the global market’s level for now,” eration of this model manufactured Jaguar Land Rover about 2,600 €1.4 bn Nitra said Jesný. “This is because all of in Trnava since November 2011. In them have introduced new models.” line with the Groupe PSA’s promise Kia Motors Slovakia about 3,800 > €1.9 bn Žilina starting up their investment in Slovakia The first model produced at to produce an electric version of PSA Groupe Slovakia about 4,500 > €1.2 bn Trnava the JLR factory is the Land Rover each of its models by 2025, the new Volkswagen Slovakia about 14,800 > €4.5 bn Bratislava hen you arrive to a new and health insurance contributions Discovery. The production of a new generation Peugeot 208 is or will country to start your busi- every month can also be problem- version of its iconic Defender, to be be available in electric, petrol, and EcoDynamics+ 48v is the first have not joined production linked ness or expand into new atic. Luckily, the outsourced payroll exclusively manufactured in Nitra, diesel versions. powertrain that Kia is introducing with electromobility to any signifi- markets,W you have a thousand questions. agency can take care of all of these will be launched by the end of on the market within its worldwide cant extent yet,” he said. It is with excitement and respect that commitments for you. 2019. The cars will be up for sale as Going ever more electric electrification of powertrains. The Jesný expects that in a few years, one makes such a step. You will still need your advi- of spring 2020. The new Defend- Volkswagen Slovakia was the carmaker plans to introduce other 30 to 40 percent of all sold cars sor, who can explain to you that ers will include four-cylinder and first carmaker in Slovakia to start electric powertrains later in 2019. should have some form of electric COUNTRY DESKS in Slovakia salaries are not paid six-cylinder petrol engines, as well as producing electric cars. Its Volkswa- Groupe PSA Slovakia produced propulsion, prompting the networks But where to start? Usually, you on the last day of the month, but four-cylinder diesel engines. gen e-up! has been in production its first electric car on March 27, of suppliers to experience a signifi- would begin by asking for some rather around the 10th of the “The new Defender will be since 2013, when the pilot model 2019, which it produces on the same cant transformation. feedback from the advisors in your following month, or how the staff available in 128 global markets and was first made in Bratislava. While line as petrol and diesel Peugeot “They have to upgrade their home country, but they are sitting can have a slightly different salary meet or exceed the toughest emis- there are no plans to build models 208s. The model Peugeot e-208 production to a new level, while far away and most of the time than the fixed amount you agreed sions and safety requirements in the on VW’s electric vehicle platform built on the CMP platform boasts this process is already a source of lack the connection to the local upon every time they have a day world,” said JLR chief commercial in Bratislava so far, the plant would a range of 340 km. Groupe PSA innovations and an increase in the culture and habits. If they are part of holiday. officer Felix Bräutigam. like to continue producing electric will produce the electric Peugeot sophistication of production,” said of a larger network, like the Nexia On our website we have pub- Volkswagen Slovakia has added cars and even produce a new model 208 exclusively in Trnava, which is Jesný, adding that this may attract network, there is a big chance lished a nice series of articles with the third generation of Volkswagen within the group. where e-car batteries are completed carmakers to expand the production that they have a local partner who all the obligations an employer Touareg, the brand new model Audi “We are professionally and in Slovakia. of e-cars in Slovakia. “But if they are is qualified and experienced in has for the entire cycle: from hir- Bart Waterloos, Partner at VGD SLOVAKIA Q8 and Porsche Cayenne Coupé to technologically prepared for the In terms of the JLR plant, not fast enough to respond to this dealing with foreign investors. ing your first employee to letting its portfolio of models produced in launch of new products regardless the Plug-in Hybrid electric cars call, they might miss the train and Indeed, that is one of the factors employees go. Bratislava. of the kind of powertrain,” Lucia will complement the Nitra-based carmakers might switch for suppliers you cannot underestimate. Not up on the achievement of your in Research and Development, The only Korean Kia Mo- Kovarovič Makayová, spokesperson production of the Defenders. JLR from other countries.” only the knowledge of a foreign CONTROL ENVIRONMENT objectives? Clearly a Slovak general through whicha super-deduction of tors plant in Europe, Kia Motors of Volkswagen Slovakia, told The has promised to produce all of its The Slovak Automotive Industry language is required (often Slovak laws contain a lot ledger report will not make you any up to 200% is possible! Of course, Slovakia near Žilina, launched the Slovak Spectator, refusing to specify new models in electric versions Association (ZAP) warns that the I meet with clients who cannot of obligations, but from an smarter. Therefore, we discuss with your advisor should inform you production of its new crossover in when its parent company would as of 2020. Jesný welcomes that increased production of electric cars communicate directly with their accounting point of view, there are every client what they want to see regularly of such changes, as we do summer 2019, the Kia XCeed. It is make the decision. carmakers in Slovakia have started to the detriment of diesel and petrol advisors!), but also the ability to also several options. Your internal in a clear dashboard, supported by via our newsletters. the fourth version of the Ceed family Kia Motors Slovakia joined the producing electric or hybrid versions cars might bring in a lower need of understand what the entrepreneur directives provide a method to more detailed reports if they want. Often, we notice that foreign successfully presented so far through club with the electrification of its of their models. workers as the production of electric wants to say to you. This is exactly select the ones that are best for your All your clients are likely to be web- investors ignore the basics transfer the hatchback, sportswagon and Kia Sportage powertrain in May “A big question mark hovers engines is less demanding. what we are trying to do via business. As an entrepreneur you based, so they can access the reports pricing rules. It is clear that the shooting brake (ProCeed) versions. 2018. The new diesel mild hybrid above the suppliers, though, who By Jana Liptáková Country Desk, a concierge service. delegate a lot of activities to other whenever they want, from wherever local tax authorities have made In such a case, you wouldn’t be smart people, but you also need they want. this a much higher priority than R5 surprised when a client instructs feedback, which is exactly what you many other tax offices in western Carmakers and you to pay out an interim dividend organise with your Internal Control TAXATION European countries. This is proven subcontractors from the profit of the current year. organisation. However, sometimes Taxes tend to change frequent- by the million euros in additional Žilina D3 In Slovakia this is not possible, but things can go wrong. Recently, we ly in Slovakia. Slovakia used to be taxes that the Slovak government the local laws of the investor could published an interesting article the region’s front runner, with the imposed over the past years, as we in Slovakia Poprad R4 R6 D1 well allow it. If you are aware of about major mistakes we often most attractive flat tax rate of 19%. nicely described in one article on Prešov this fact, we can search together for encounter with our clients on our Now, other countries have started our website. solutions on how to figure out what website. a race to lower taxation. Still, with By Bart Waterloos Trenčín R3 the investor wants. An important part of your a tax rate of 15% for small business Banská Bystrica control environment should be as of 2020, Slovakia is still a good Košice R2 EMPLOYEES a decent monthly management place to consider, especially if you- About the author: Hiring your first employee report. How else could follow- combine it with smart investments As a 25 year-old junior he left Sliač VGD_cmyk_300x100.pdf 1 13/03/13 23:52 Belgium to expand the audit Piešťany is always an exciting moment. But with this, you also start an department for VGD in Prague. R1 Since 2004 he has lived in R8 R2 avalanche of obligations and com- C Bratislava, helping the company grow Trnava M mitments. You should register the Y D2 R3 subcontractor CM to become the 5th largest audit and Nitra company as an employer and it MY planned highways CY consulting company in Slovakia. He CMY highways under construction goes hand in hand with strict dead- K is currently one of the company’s four D4 highways lines when you have to register the partners and is responsible for all BRATISLAVA highways (half profile) employees. Calculating the social international affairs. R7 main railways international airport

Source: Slovak Automotive Industry Association

SP019060/001

VGD_PR_2019.indd 1 7. 11. 2019 16:46:10 24 opportunities: innovations opportunities: waste 25

Future of Industry 4.0 is in AI Pressure on waste management needed he word industry no longer The doubling involvement of of €2 million for Porsche in Horná he average Slovak pro- recycled or used to generate energy, ProductionProduction of municipal of municipal waste waste in the the regions regions of Slovakia of Slovakia (in tonnes) (in tonnes) means just workers manu- firms in the concept, compared to Streda (Trenčín Region) and €3 mil- duced 427 kilograms 35 percent disposed of and 24 2500000 ally assembling products. the previous two years, is an encour- lion for Muehlbauer near Nitra to of waste in 2018, 100 percent treated in another way, the 2,000,0002000000 TRaw materials are carried by robots, aging result, said Martin Morháč of establish new technological centres, Tkilograms more than a decade ago. Odpady-portal.sk website reported. th processes are more and more auto- Industry4UM. On the other hand, the public-service broadcaster RTVS Is this a manifestation of the rising Slovakia holds the 9 worst 1,500,0001500000 mated and artificial intelligence is only 19 percent of top managers reported. standard of living or a situation position amongProduction the of municipal 36 waste OECD in the regions of Slovakia (in tonnes) 2500000 1000000 Production of municipal waste in the regions of1,000,000 Slovakia (in tonnes) becoming a frequently used term. perceive technology implementation Morháč stressed that, so far, the approaching an environmental countries in waste2500000 management, 2000000 Production of municipal waste in the regions of Slovakia (in tonnes) 2500000 Production of municipal waste in the regions of Slovakia (in tonnes) In many respects, Slovakia, as as their role, “despite the fact that ministry has met 19 out of the 35 disaster? according to Sensoneo’s Global2000000 2500000 500000 1500000 500,000 2000000 Production of municipal waste in the regions of Slovakia (in tonnes) 2500000 Production of municipal waste in the regions of Slovakia (in tonnes) 1500000 Industry 4.0 is a decisive path to action plan measures and wants to 2000000 an industrial country, easily adapts In general, richer countries Waste Index 2019. The country 2500000 1000000 1500000 Production of municipal waste in the regions of Slovakia (in tonnes) 2000000 0 2500000 1000000 Production of municipal waste in the regions of Slovakia (in tonnes) to the Industry 4.0 concept. Many increase competitiveness and creat- meet the others in 2020. Slovakia generate more municipal waste per only managed 54.1 percent of the1500000 2000000 500000 2015 2016 2017 2018 2015 2016 2500000 2017 2018 1000000 1500000 Bratislava Region Trnava2000000 Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region 500000 1000000 1500000 Slovak-based branches are lead- ing competitiveness, is the basic task lags furthest behind in key educa- capita than poorer ones, according figure0 achieved by the best country, Bratislava Trnava Trenčín Nitra Žilina Banská Bystrica Prešov Košice 2000000 2015 2016 500000 2017 Region 2018 Region Region Region Region Region Region Region Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region 1000000Košice Region 1500000 tasr

0 500000 1000000 Statistical Office Source: ers in introducing technological of the top manager of the company,” tion, which is not just a matter for to experts. South Korea. 2015 2016 2017 2018 1500000 Bratislava Region 0 Trnava Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region 2015 2016 500000 2017 1000000 2018 Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region Photo: 0 500000 1000000 innovations within their concerns, Morháč told The Slovak Spectator. the state, he said. The EU’s current average Despite this, the Environment2015 bags, Environment2016 Minister2017 László2018 Cash and Carry’s food projects, eco- Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region 0 500000 2015 2016 2017 2018 0 500000 said Boris Duľa, CEO of the CEIT Most people still see digitisa- and logistics, as well as small hydro “The survey showed a signifi- production of municipal waste has Ministry reports an increase of 11 SólymosBratislava Region expects2015Trnava Region Trenčín Region theirNitra Region Žilina total Region2016 Banská Bystricaban Region Prešovin Region Košice2017 Region logical taxi2018 services, crate food sales, Bratislava Region Trnava Region Trenčín0 Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region 2015 2016 2017 2018

Bratislava Region Trnava Region0 Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region technology company, which focuses tion as only an IT role, the survey and solar power plants, said Martin cant decline in corporate support for stabilised at around 520 kilograms. percentage points in the amount Slovakia. 2015 zero-waste2016 e-shops and2017 catering 2018 Bratislava Region Trnava Region Trenčín Region Nitra Region Žilina Region Banská Bystrica Region Prešov Region Košice Region on Industry 4.0. reported. Two-thirds of companies Lohnert, general manager of Soitron the development of workers over the In contrast, Slovak production of sorted municipal waste between Brinzík considers these targets apps. Other new projects are mene- Some of them even resemble implement technologies without Void SOC. past two years,” Morháč said. is growing by approximately 2015 and 2017, when the figure strict and ambitious. After 2020, jodpadu.sk, Príjemné veci, SK-Tex, pioneers in the implementation of external suppliers, through their Soitron monitored weakly Slovakia is one of the last 10 percent year-on-year, said reached 29.3 percent, said the packaging manufacturers will feel Fashion Recycling Lab, BagBet, innovative solutions, he said. They own IT. protected systems available on the countries in Europe without a plat- Marek Brinzík, PR director of the ministry’s spokesperson Tomáš the impact of so-called ecomodula- Créeme, Cila, Nosené, Dutka and gain the trust of the parent company internet, including the current level form to support the area between NATUR-PACK packaging waste Ferenčák. tion, when the cost of recycling fees Crafting Plastics, INCIEN’s 2018 in pilot projects. Is it secure? of the river on the site of a small industry, businesses, employers and recovery organisation. Slovak state authorities set will depend on recyclability and brochure on the circular economy “Once these pilot projects prove One of the areas criticised is the hydroelectric power plant and the the state, Morháč added. Nevertheless, the country still a goal to increase the amount of other characteristics. reported. to be effective, they reach other replacement of labour by robots. quality of the wastewater discharged produces less waste than the EU sorted and recycled municipal “Significantly higher fees for In mid-September 2019, the affiliated plants within the group,” In these terms, Duľa thinks that from an industrial plant. Future with artificial intelligence average, he says. waste to 50 percent by 2020. non-recyclable or hardly recyclable Wood & Company financial group Duľa told The Slovak Spectator. changing job requirements will not “Intrusion into such a system In the coming years, the “This is significantly less than In 2017, new legislation put materials should be the motivating launched the construction of a cir- The need for new technolo- cause employees to disappear, but through a permanent disabling of industrial environment will change the countries Treatmentat the forefront, of wasteinto force in the the possibility V4 countries of impos- elements (in kilograms for changing materials per capita) or cular economy centre worth €120 gies is reflected in the direction the rather change their competences and warnings, for example, may clearly faster, with greater customisation, including Norway with nearly ing a 1-million-euroTreatment fine ofon landfill waste finding in the new V4 recycling countries technolo- (inmillion kilograms in Šaľa (Nitra per Region). capita) The 6000 country has embarked on. After the educational needs, he said. threaten not only the business itself according to Duľa. There are noises 6000Treatment800 kilograms of per waste capita per inyear,” the operatorsV4 countries not complying (in with kilograms gies,” perBrinzík capita) said. ewia centre should employ 100 concept and action plan for smart “This is not a short-term but also the public,” said Lohner, as about the transition from traditional Brinzík told The Slovak Spectator.Treatment the rules. of Early waste 2019 brought in the an V4 countriesIn addition to(in the kilogramslaw, the peopleper capita)and recover up to 100,000 6000 industry was approved in previous process, but I think the gradual steps cited by SITA. assembly lines to more flexible6000 cel- anti-landfill package to encourage ministry is supporting waste sorting tonnes of waste in the form of heat years, the Economy Ministry now are towards such an adjustment,” lular manufacturing. More waste every year sorting, and at the end of February through the EU’s Operational Pro- and electricity, and 30,000 tonnes Government’s actions 5000 promotes and financially supports Duľa said. While the recession has been 5000 Official statistics show people 2019, the government approved gramme4799 Quality of Environment. 4799of recycled materials, the Trend the area. Another problem is security. The Slovak government claims manifest in Slovakia for several in Slovakia produced 2,325,178 the Waste Prevention Programme The programme has supported 272 weekly reported. Based on the latest survey of Soi- to be aware of the need to sup- months, Morháč suggests innovating tonnes of municipal waste in 2018. of the Slovak Republic for 2019- waste management applications While the expected start of the 5000 4222 4799 4293 4293 Interest is growing tron, at least 509 control systems in port Industry 4.0. Currently, the instead of saving, although at 5000a small Comparison to past waste produc- 2025, said Ferenčák. 4222 for more than €158 million,4799 said centre’s operation will be in 2025, Nowadays, the development Slovak industrial enterprises are at Economy Ministry is implement- volume. There4000 are many opportu- 3853 tion figures shows 1,888,456 Most recently, parliament has Ferenčák. Wood & Company also plans to 4000 4222 3853 4293 of Industry 4.0 in Slovakia is an risk of intrusions from the internet, ing a Smart Industry Action Plan, nities to increase competitiveness tonnes in 2015, 1,953,478 tonnes been discussing4222 the transposition of So far there have been 254 build five recycling factories4293 worth increasing trend, with the interest of the SITA newswire reported. approved in 2018, which follows the through Industry 4.0, low-cost in 2016 and 2,136,952 tonnes EU measures, including a ban on applications for €33 million approximately €600 million in the 4000 3853 companies in Industry 4.0 growing Security analysts link cyber Intelligent Industry Concept from adjustment and fast return processes4000 in 2017,3853 the Statistics Office disposable plastic products and an focused on the purchase of smaller regions of Nitra, Trnava, Banská from 19 percent in 2017 to 40 per- threats to Industry 4.0. Remote 2016. optimisation. calculated. obligation for municipalities to sort composters and 55 applications Bystrica, Trenčín, Žilina and cent in 2019, according to a survey access today is a commonly used In October 2019, the govern- Data collection,3000 processing, 3000 Waste management expert Ra- biodegradable kitchen waste, into for €64.8 million on building big Martin. of the Industry4UM association. method for monitoring production ment approved financial injections monitoring, visualisation and doslav Jonáš uses the 12.3 million the Waste Act. The amendment composters of biodegradable waste, Brinzík pointed to the need to 3000analysis of facts are the first steps, tonnes of total waste generated by should enter into force in 2021. mechanical-biological treatment increase the goal of sorting to 65 Priority areas of the ShareShare of companies of companies with focus with on focus Industry on 4.0 Industry in Slovakia 4.0 (% in of Slovakiacompanies 3000 2169 surveyed) followed by real-time responses and the country in 2017 as an example, Although the amendment facilities, and recycling hazardous percent, seek solutions to2169 prevent Smart Industry Action 45 (% of companies surveyed) 1888 the automatic prevention of prob- when a total of 41Treatment percent of waste was in the V4 countriesdoes (in kilograms not per include capita) all types of plastic and other waste. and minimise waste generation 40 2000 1888 Plan in Slovakia: 40 1742 20006000 1738 40 1742 1738 2169 l Research, development and lems, said Duľa. Treatment of waste in the V4 countries (in kilograms per capita) and continuously2169 work on raising 35 1427 1422 1459 “By deploying artificial intel- 5000 14274,7994799 1888 1387Private activities the environmental awareness of 1422 1459 innovation 31 1342 1307 1309 31 2000 1742 1738 1342 1304 1307 18881304 1387 1309 l 4222 4,2934293 Basic principles of IT security 30 ligence, we are entering a phase2000 of 1742 4,222 1738 Czechia Private circular economy activi- citizens. of the implementation of smart 4000 3,8533853 25 self-optimisation, self-organisation 1427 Hungary ties also play a part and1422 the Institute “Slovakia1459 and Europe face great 1342 1387 1459 industry 1000 1000 1307 1427 1304 1309 1387 1422 and reconfigurability,” Duľa said. 13423000 1307 of Circular Economy (INCIEN)1309 challenges as they need to take l Labour market and education 20 1304 Poland 1515 “We believe that this will be the 2,1692169 has registered a number of projects: better care of their waste,” Brinzík l Reference architecture, standar- 15 Slovakia 2000 1,8881888 1000topic of the coming years.” 1,7421742 1,7381738 MOVECO and Green Group said. disation and creation of technical 1427 1387 1422 1,4591459 10 1000 1,3421342 1,427 1,3071307 1,3041304 1,387 1,3091309 1,422

standards, framework European By Peter Adamovský, 1000 aimed at the circular economy, By Peter Adamovský, 5 and national legal conditions analyst at the0 Slovak Innovation 0 Ecovír by Curaprox, IKEA’s second analyst at the Slovak Innovation l Information and promotion 0 0 Czech Republic Hungary Poland Slovakia and Energy Agency Czech Republic Hungary Poland Slovakia life of furniture, Tesco and Metro and Energy Agency 20172017 20182018 20192019 2010 20102010 20102012 2012 20142014 2016 2012 Czech2014 Republic Hungary Poland2014 Slovakia2016 2016 Source: Industry4UM 0 Source: Eurostat 0 2010 2012 Czech Republic Hungary Poland2014 Slovakia 2016 2010 2012 Czech Republic Hungary Poland2014 Slovakia 2016 26 opportunities: Business service centres opportunities: Business service centres 27 Lack of staffers hinders further growth of BSCs he lack of a qualified in the BSCF paid €129 million would like to expand and focus labour force has become to the state coffers in the form of on investments in the following one of the most often employee income tax for 2018, years, their plans are hindered Tmentioned concerns among according to an annual survey. by the lack of labour resources. employers. Most recently, it The sector employs 36,500 Unlike previous years, when the was also reflected in the annual people working in 65 BSCs across number of new employees rose statistics in one of the most the country, 10 percent of whom at a two-digit rate, in 2018 it progressive sectors in Slovakia. are foreigners coming mostly increased by only 1 percent. Business service centres from EU countries (66 percent). This, however, is still (BSCs) have seen a significant The average monthly wage in more than in other fields of drop in the year-on-year growth the centres amounts to €1,830, Slovakia’s economy, as State of new staffers they hire. up from €1,780 in the previous Secretary of the Economy “Two factors currently year. Ministry Rastislav Chovanec dominate in the BSC sector: The average age of employees pointed out. people and new technologies,” in companies that are BSCF “It’s striking that 70 percent said Ronald Blaško, executive members and participated in the of our members say they cannot director of the American survey is 34 years. Almost three achieve their strategic goals due Chamber of Commerce in quarters (72 percent) have a to the increasing labour costs Slovakia (AmCham), at the early university education. and continual lack of labour October conference organised The survey also showed that force,” said Gabriel Galgóci, by the Business Service Center BSCs have a lean management BSCF’s chair. Forum (BSCF) and AmCham. structure as only 8.8 percent The centres struggle mostly www.dreamstime.com The lack of staffers and of their staff have management with the availability of candidates increasing labour costs create positions. and the level of relevant Source: obstacles for further growth, Moreover, the proportion experience or quality of skills. The survey suggests that most Other changes concern the To secure further growth and negotiations has been incorporated that the country ranked 64th out BSCs say. Together with the of women and men employed Another important area is companies want to increase the list of scarce professions, with maintain capacities in times of in the labour legislation. of the 141 monitored countries in representatives of employers, in the BSC sector is balanced, the fluctuation of employees in share of automatised processes in BSCs having a special regime. crisis, however, it is necessary to The more modern legislation the Labour market category. they are calling for changes to with the share of female workers the BSC sector, which accounts the next few years, according to They do not have to first report have flexible labour legislation, BSCs and the representatives of “The Labour Code needs the labour legislation that will representing 46 percent. BSCs for 12 percent, which is slightly Galgóci. a vacant position that is listed according to BSCs representatives. employers’ associations are calling to respond to modern forms of reflect more current trends on the offer women opportunities to higher than the average (10 with the labour office and then “Otherwise there is a risk for should be based on a modern employment,” said Peter Rusiňák, market. hold positions in management percent), as a result of the lack Flexible Labour Code necessary wait for a certain period to start that Slovakia won’t be interesting philosophy that respects the BSCF’s coordinator. This includes as well as the STEM (Science, of labour force. They are either In the previous years, seeking a worker from the non-EU for BSCs, which we can’t afford openness of the Slovak economy part-time and more flexible jobs, Contribution to economy high Technology, Engineering, and moved to a different company as the BSCF has intensively countries, but can automatically in good, let alone bad economic and its structural changes. It and short-term agreements. The BSC sector is the third Mathematics) fields. As the survey part of the rotation process, leave communicated with the state, start their search abroad. times,” Galgóci stressed. should reflect the adaptability, In the past, Slovakia used biggest in Slovakia, after the suggests, 41 percent of managers to other companies or found resulting in governmental There is still a five-day waiting flexibility and high education level to attract BSCs with a good automotive and electrotechnical are female, but only 12 percent their own business, according to support of the sector, the register period to check the request, but What should change? of staffers. Labour Code and low labour industries. Companies associated of the female employees work in Galgóci. of BSCs running under the this should change too, as soon as The current valid Labour The changes should costs. However, this is gradually STEM roles. Apart from the problem with Economy Ministry, a shorter the new system to connect various Code was adopted in 2001, and concern more flexible forms of changing, and the country is Largest BSCs in Slovakia* As for languages, BSCs are the lack of qualified staffers, BSCs waiting time at the Foreigners’ databases is launched, said Marián has since been amended numerous employment, the organisation of currently lagging behind in BSC Locations trying to hire staff with good and have long been pointing to the Police, and rules for providing Valentovič, head of the Central times. It currently has 123 pages working time, the setting of social law enforcement, education, Accenture Bratislava diverse foreign language skills. fact that in repetitive activities, state aid to companies situated in Office of Labour, Social Affairs and 252 paragraphs. policy applied by the employer, infrastructure and the quality of Adient Bratislava, Trenčín Speaking English is a must in all people may be replaced by robots Slovakia’s regions, Galgóci said. and Family. “The Labour Code and collective-legal relations. public services, he added. AT&T Bratislava, Košice centres. When providing business or bots that will do the job faster “As a result, big centres don’t should be much simpler,” The new Labour Code should “Despite all the problems DELL Bratislava services from Slovakia, other and more precisely. fill office spaces only in Bratislava, Who is working at BSCs in said Ján Oravec, head of the also bring about larger labour force we’re currently facing, nobody DXC Technology Bratislava important languages include Currently, as much as but expand to other regions,” Slovakia? Entrepreneurs Association of mobility and the depoliticisation has said that they would like to German, French, Russian, Italian, 80 percent of companies use Galgóci added. Total number of full-time 32,933 Slovakia and member of the of decisions that provide BSCs end their business in Slovakia,” Henkel Bratislava employees and Spanish. automation for data reporting, Apart from Košice, the centres board of the National Union of with legal certainty and increase Blaško said. “On the contrary, IBM Bratislava, Košice University educated 72% while 63 percent use RPA have opened in other towns such Employers. However, the trend the country’s competitiveness. many are even planning further Johnson Controls Bratislava Challenges lying ahead solutions and internal process as Nitra, Žilina, Prešov, Komárno, Women 46% in all of Europe is that everything The 2019 Global expansion.” Swiss Re Management AG Bratislava Although the respondents automation. About 43 percent Banská Bystrica, Nové Zámky, and Foreign nationals 10% demanded by the trade unions Competitiveness Report by the T-Systems Košice in the survey claimed that they of companies use chatbots. Považská Bystrica. Managers 8.80% that should be a subject of World Economic Forum suggests By Radka Minarechová * more than 1,000 full-time employees Source: BSCF 2019 Forum 28 opportunities: Creative industry opportunities: Creative industry 29

Turnover or gross premiums written in the V4 countries (in millions of eur) Turnover or gross premiums written in2015 2016

These include programmes un- lead to a liquidation of the market,” music and performing arts, design, 13573 13502 Turnover or gross premiums written in the V4 countries (in millions of eur) Poland,Turnover or Hungarygross premiums andwritten Slovakia in the V4 countries 2015 2016 (in millions of eur)

135732015 2016 der the Economy Ministry and the Salajová said. advertising and marketing, city (in mil. of Eur)13502

Education Ministry, some of which She added the state should authorities say. 3740 3913 Bottom-up rise of creative industry 13,57313573 13502 13,502 2015 1476 1635

3740 3913 reative arts have a long are for individual sectors, such as limit its involvement in the Poland Hungary Slovakia Czech Republic 20161476 1635

history in Slovakia – advertising, ICT, design and archi- industry to creating infrastructure New approach Poland Hungary Slovakia Czech Republic almost every Slovak knows tecture. Meanwhile, others provide for those businesses working in Under government plans post- Cthe houses in Čičmany adorned support related to specific research the industry and their inclusion in 2020, when the next budgetary with folk-themed artwork, or the and development. urban or regional life. period begins, all financial support 3,7403740 3,9133913 award-winning international film But these again fall short of the Creative centres across Slovakia earmarked for the industry is to be 1,4761476 1,6351635

director, Juraj Jakubisko, to name expectations of those in the creative which have grown bottom-up are transferred to the Culture Ministry. PolandPoland HungaryHungary SlovakiaSlovakia Czech Republic

just a few examples. But Slovakia’s industry who say they do little to in good health. The government is also planning Eurostat Source: creative industry, unlike in other really support its development. Bratislava has several creative to take a new approach to its com- He explained that cross-sectoral countries in western Europe, has “This is neither conceptual, nor hubs, a developing film and gaming munication strategy related to the links, mobility and cooperation, developed slowly since emerging strategic support, nor is it pouring industry, new galleries and studios industry, said Salajová. mainly between creative firms, the a little more than a decade ago. resources into the sector to revive and creative-community centres At the end of September 2019, technology sector and more tradi- The reason behind this, accord- it,” Salajová said, adding that most like Nová Cvernovka, according to meetings were undertaken at tional industries, are still lacking in ing to Slavomíra Salajová of the of the support in some programmes Bubla. various schools focusing on several Slovakia. Creative Industry Forum (CIF) – goes towards things like computer Trnava has strong graphic topics ranging from calculating “We need to focus on develop- an association of groups supporting software, printers and other tech- design, publishing, video produc- creative indexes to creative tourism. ing business collaboration to create the creative industry – is that too nology. tion and other advertising service Salajová pointed out that the innovative products, creative clus- much focus has been put on simply There are also ‘creative vouch- sectors as well as IT, and, to a lesser Culture Ministry would use its ters, networks and other collabora- distributing financial support to the ers’ distributed by the Slovak Inno- extent, fashion design businesses, findings from these meetings, and tive platforms,” Čorba said. industry, while more needs to be vation and Energy Agency (SIEA) said Klembara. subsequent related school projects, After 2020, the Culture done to promote and develop it. through its national Supporting Žilina’s creative industry to help policymaking for the Ministry plans to link national and

While legislation on the indus- sme Creative Industry Development in involves advertising, websites, video industry. regional support, build creative

try and its funding has been passed, Slovakia project. spots, art photography, literature, This comes after the ministry centres and draw up regional strat- nothing else has been developed. Source: Under the project, applicants furniture, design accessories, established the Institute of Cultural egy documents for the industry, “The creation of communica- of a structure to support creativity, grant programmes. The first, which ity spokesperson, said that a lack of can use these vouchers for the illustration, fashion, music, fine Policy (IKT) in 2018, which has said Čorba. tion platforms, networking and production, innovation and invest- involves grants of up to €200,000, clarity around some aspects of the purchases of up to €10,000 on arts and festivals, said Katarína used a so-called satellite account similar activities – none of this ment within the creative industry, is for projects which will create programme meant there was a sub- any items related to their work in Gazdíková, head of the press and to calculate the impact of the What people in the industry need has been done,” Salajová told The as well as motivating businesses and jobs and are aimed at small and stantial risk that the grants, which architecture and up to €5,000 on foreign affairs department at Žilina industry on economic development Many of those working within Slovak Spectator. And while the synchronising ministry support medium-sized companies (SMEs). would in part be financed with EU work in advertising, ICT, or design. city authority. – methodology which is already the industry are clear on some of Culture Ministry is overseeing with other existing schemes for the While the ministry says that funds, could be claimed back from However, the applicants must The region is home to the State used in the tourism, agriculture and their fundamental needs. Crea- financial support for the industry, industry, explained Pavol Čorba, the approval of applications is in its the European Commission (EC) co-finance 50 percent of the cost of Chamber Orchestra, Považská Art environmental sectors, according to tive entrepreneurs need affordable authorities and industry groups in spokesperson for the Culture final phase, CIF has criticised the in future. the items for which the vouchers Gallery, Rosenfeld Palace, the Fest Salajová. space, presentation opportunities, many cities and regions around the Ministry. way the process has been handled. “As a result, we cannot use are used. Anča animated film festival, Kiosk Though the institute has workshops, counselling and com- country feel it would be better if “An effective system for “People who submitted pro- the resources for any meaningful In terms of research and devel- dance festival, a literary festival, and already prepared an experimental munity cooperation, according to the state were not involved at all. developing the creative industry, jects three years ago still have not project that would really help the opment (R&D), support available, the Hudba Sveta, One Day Jazz satellite account for the 2012-2016 Gazdíková. “Any, even well-intentioned, improving human resources, creat- had them evaluated, so they have development of the creative indus- interest in project submission from and Voce Magna music festivals. period and is processing data for Klembara explained the best state support could bring more ing favourable market conditions not even received the [financial] try in Slovak regions,” Bubla told the creative industry is marginal Prešov has potential in tra- 2017, the results of the analysis are way to promote entrepreneurship complications,” Michal Klembara and other supportive tools were pri- support,” Salajová said. The Slovak Spectator. compared to other areas, the Edu- ditional, folk and urban culture not yet available to the public. in the sector would be to reduce of the Publikum.sk civic associa- orities in the strategy,” Čorba told A second programme aimed With such concerns around cation Ministry told The Slovak crafts, visual arts, music, as well as red tape, and reform payroll taxes tion, which created a strategy for The Slovak Spectator. at developing creative centres in state operations in the industry, Spectator in a statement. performing arts and architecture, Part of a larger universe as well as other sector-specific busi- the creative industry for Trnava The ministry is still monitoring locations around the country was it is perhaps unsurprising that said spokesperson Vladimír Tomek. The Culture Ministry says it is ness levies. Curiosity, creation and Region, told The Slovak Spectator. the strategy’s action plan imple- launched in July 2019. The cut-off cities have developed their own Bottom-up development It is host to the Academický Prešov keen to strengthen links between innovation are the essence of the mented in 2016-2017. date for submitting the application approaches to creative businesses Experts say that creative centres festival with a theatre, exhibitions the creative industry and other creative industry, said Bubla. More than a decade was the end of October. – Žilina provides an existing space tend to emerge naturally, bottom- and concerts, the Wave independ- sectors of the economy while an “All this must form a major The topic of the creative indus- Difficult conditions However, the CIF says that within the city to host creative up, and that the involvement of ent culture club for creative people, effective network needs to be estab- part of city policies [for the indus- try began to resonate in Slovakia in Under plans for industry meeting the conditions for obtain- work, Prešov is doing the same, state institutions in those centres the Christiania café, which is also lished between creative industries, try],” he said. 2008, when CIF, working with the support covering the period 2014- ing the grant are so difficult that while authorities in Trnava let the could actually be harmful. a concert venue, and the Festival of research, the public sector and By Peter Adamovský, British Council, prepared the first 2020, the ministry has run two only one creative centre in the town’s industry support itself. “Competition for entrepre- Architecture and Design. other business environments, ac- analyst at the Slovak Innovation strategic documents on developing Creative sectors supported by country – the Národné Osvetové neurs from the public sector could Nitra’s focus is on visual art, cording to Čorba. and Energy Agency the industry, according to Salajová. Centrum (NOC) in Bratislava – is Other support the Operational Programme Number of enterprises in the cultural Value added at factor cost In 2014, the Culture Ministry likely to be able to participate in Outside the Culture Ministry, 2015 2016 2015 2016 Research and Innovation: sectors in the V4 countries and the EU in the V4 countries (in millions of eur) produced the Strategy for the De- l architecture the programme. there are a number of schemes Poland 71,020 76,010 Poland 4,472 4,475 l design velopment of Cultural and Creative Local governments have also under the auspices of other state Czech Repulic 45,093 45,905 Hungary 953 870 Industries. l advertising and marketing been highly critical of the scheme. bodies which are, in theory, avail- l ICT – computer programming Hungary 26,098 27,817 Slovakia 453 439 This focused on the creation Peter Bubla, Bratislava city author- able to the creative industry. Slovakia 11,690 12,766 Czech Republic NA NA Source: Eurostat Source: Eurostat 30 opportunities: Intellectual property opportunities: Intellectual property 31

a score 169.69. This means that and watches, handbags and lug- Intellectual property valid State Change (December during the country is nearly 70 percent gage, recorded music, spirits and in Slovakia in 2018 31, 2018) 2018 Intellectual property remains more efficient in this area than the wine, medicine, pesticides and Trademarks 47,024 2,737 European Union’s (EU) average. smartphones among the major Patents 19,247 231 Slovakia placed 25th with economic sectors, the press release Utility models 1,872 337 of little interest in Slovakia a score of 38.69, whereas only wrote. Designs 915 119 Source: 2018‘s annual report of the Slovak Industrial Property Office pple, Google, Facebook, Greece (34.97), Croatia (29.22) Microsoft, Samsung and Romania (22.35) had worse Thinking about motivation Limited area for validity conditions for granting rights, their and other technology results. From the V4 countries, The interest in registering Another important factor is the duration, the rights of owners and giantsA have thousands of patents Poland was 19th (67.41), the Czech intellectual property depends on size of the market where the patent other important matters,” Ivaničová worldwide. Without innovation Republic 20th (62.08) and Hungary innovation, time, market size and is valid. When applying for a patent said. protection, they would not have 24th (40.12). In the PCT Patent competition. Patents are granted in the EU, the applicant states in the competitive advantage that has Applications sub-index, Slovakia for new inventions that include in- the application which countries he Steps to make it easier raised them to global awareness. placed 21st (16.32), 25th place ventive activity and are industrially wishes to protect his invention. By One of ÚPV’s tools to simplify Slovak firms can also engage (66.65) in Trademark Applications applicable, according to Katarína now, the EU has harmonised legal access to intellectual rights is in the competition for intellec- and 22nd (38.95) in Design Ap- Ondrovičová, Senior Associate of protection of intellectual property, Infocentrum. The service explains tual property thanks to the open, plications. Bird & Bird, a member of the IT said Ondrovičová. how applicants can fill out an knowledge-based global society. The Global Innovation Index Association of Slovakia (ITAS). “The company makes a strate- application and obtain data from However, they cannot compete (GII) of Cornell University, IN- In general, the protection gic decision, especially concerning the office’s registers, and provides fully due to the lack of resources for SEAD, and the World Intellectual confers an exclusive position on the the market size in which it plans to information on property protection innovation. Property Organization (WIPO) market. The owner can sell, pur- place the products,” Ondrovičová and administrative fees. Developed countries have long allocates points for the quality of chase, establish, donate or treat the said. Ivaničová pointed to search invested in research and develop- intellectual property rights within intellectual property like any other The company may consider services, the monitoring of ment (R&D) to ensure sustainable the Knowledge Creation sub-pillar. tangible property, said Ivaničová. protecting its rights against the technology statuses based on the growth in the competitiveness The GII 2019 ranked Switzerland “The value of the intellectual competition, too, according to order and fee, pre-diagnostics of of their economies, said Žofia the best country with a score of property depends on its usability Ondrovičová. Some entrepreneurs industrial rights, and knowledge Ivaničová of the Slovak Industrial 84.7. While Slovakia placed 44th and benefit to the individual or demand protection in countries dissemination at regional Property Office (ÚPV). (20.2), the Czech Republic placed society,” Ivaničová said. with smaller markets in order to conferences and seminars. She said Courtesy of GA Drilling “In the long term, this area 24th (35.1), Poland 36th (24.3) and Ondrovičová stressed that the defend their production plants the measures focus on bringing rd is significantly undersized in the Source: Hungary 43 (20.3). entire process from filing an ap- from other firms. industrial property rights closer Slovak Republic, as evidenced by aestetics of objects. Along with The total number of national Germans and Ukrainians two; and plication to granting a patent may The protection process in to small and medium-sized the low share of R&D invest- scientific articles, these are all trademarks registered in Slovakia Britons, Italians and Latvians one. Piracy a persisting problem take several years. Slovakia consists of filing an ap- enterprises. ments,” Ivaničová told The Slovak innovation outputs. was 47,024, as written in the ÚPV In terms of patents, the In June 2019, the EU’s Intel- “Prior to commencing the plication at ÚPV, paying admin- “They do not adequately Spectator. In Slovakia, the production of annual report for 2018. territory of Slovakia recognised lectual Property Office (EUIPO) process, the company must decide istrative fees and the registration protect their innovations due to The development of a number innovation outputs has stagnated Ivaničová pointed out that they 19,247 patents, of which only issued a report on losses in the on the merits of the patent and and granting rights procedure. The a lack of awareness or poor business of patent applications proves R&D and still does not reach the level of registered nearly 10 percent more 1,163 were of Slovak origin. ÚPV EU due to counterfeiting and the obsolescence of the product at procedure is regulated through the strategies,” Ivaničová said. results have a stagnating character most European countries. There utility models than in the previous recorded 231 patent applications piracy. Annual losses in 11 major the time of granting the patent,” relevant laws on individual rights. By Peter Adamovský, in Slovakia, Ivaničová said. was, however, a 12-percent increase period. filed in 2018, of which 217 were economic sectors amount to €60 Ondrovičová told The Slovak “Laws also determine the analyst at the Slovak Innovation in patent applications between “Utility models represent the filed by domestic applicants, 10 by billion, or 7.4 percent of total sales. Spectator. formalities of applications, the and Energy Agency Still lagging behind 2017 and 2018, as recorded by most common form of protection the Czech Republic, and one each They cause a direct loss of 468,000 Intellectual property includes ÚPV. of technical solutions in Slovakia,” by Germany, the UK, South Korea jobs, the EUIPO print release patents protecting objects created Regarding the number of Ivaničová said. and Turkey. There was also a total reported. by intellectual activity, including applications, ÚPV registers most By the end of the year, Slovakia of 915 valid designs in Slovakia, In Slovakia, the estimated inventions and technical solutions, of the trademarks. The number of had 1,872 utility models, of which of which 107 were registered by annual loss is €456 million, or trademarks that protect the nationally registered trademarks 337 were registered in that year. domestic applicants, 11 by Swedes, 12.3 percent of sales across those distinguishing mark for the in 2018 reached 2,737, of which Domestic applicants submitted seven by Czechs, three by the industries. The total value of lost products and services, utility 2,233 were from Slovakia, 282 262 applications; Czechs submitted French, two by Italians and one by profits corresponds to €84 per models protecting inventions, from the Czech Republic, 46 60 of those applications; Poles a German, the ÚPV annual report Slovak citizen per year. and designs protecting the visual from the US and 31 from Cyprus. and Hungarians three; Austrians, noted. Clothing, footwear and acces- sories is the largest sector in terms Sectors with the highest annual losses Slovakia European Union Rankings show poor results, too of sales volume and employment due to counterfeiting and piracy Absolute loss % of revenue Absolute loss % of revenue The innovation outputs are rate. While the EU loses €28.4 bil- Medicine €171 million 11.40% €9,577 million 3.90% one of the most important indica- lion, or 9.7 percent of sales a year, tors for country comparison. The Slovakia loses €139 million, or 14.2 Clothing, footwear and accessories €139 million 14.20% €28,419 million 9.70% European Innovation Scoreboard percent. Smartphones €40 million 12.50% €4,212 million 8.30% (EIS) 2019 assessment study The analysis includes clothing,

Cosmetics €31 million 11.70% €7,053 million 10.60% sr TA

ranked Malta the best country in footwear and accessories, sports Spirits and wine €27 million 10.80% €2,398 million 5.90% Intellectual Assets for 2018 with goods, toys and games, jewellery Source: Source: EU’s Intellectual Property Office (EUIPO) LARGEST LAW FIRMS IN SLOVAKIA 33

10 LARGEST LAW FIRMS IN SLOVAKIA 2019 1. SOUKENÍK – ŠTRPKA 2. Advokátska kancelária RELEVANS 3. RUŽIČKA AND PARTNERS 4. Allen & Overy 5. TaylorWessing e/n/w/c advokáti 6. Barger Prekop 7. White & Case 8. Dentons Europe CS LLP LAW FIRMS 9. HAVEL & PARTNERS IN SLOVAKIA 10. PETERKA & PARTNERS This ranking of the 10 largest law firms in Slovakia was created based on five factors derived from 2018 data to which we gave different weights: number of attorneys (36% weight); 2019 number of law graduates (practising longer than 3 years) besides attorneys (18% weight); number of law graduates (practising less than 3 years) besides attorneys (6% weight); sales revenue (25% weight); average net profit value for 2016-2018 (15% weight). A few law firms decided not to provide information and are not included in this ranking.

10 largest law firms by revenue* 10 largest law firms by number of attorneys* 10 largest law firms by profit* 1. Allen & Overy 1. RUŽIČKA AND PARTNERS 27.83 1. Advokátska kancelária RELEVANS 2. Advokátska kancelária RELEVANS 2. SOUKENÍK – ŠTRPKA 24.92 2. Allen & Overy Bratislava 3. White & Case 3. Advokátska kancelária RELEVANS 20.5 3. SOUKENÍK - ŠTRPKA 4. SOUKENÍK – ŠTRPKA 4. PETERKA & PARTNERS 13.83 4. White & Case 5. Dentons Europe CS LLP 5. Allen & Overy 13.75 5. Adv. kanc. ECKER - KÁN & PARTNERS 6. Kinstellar 6. Škubla & Partneri 13.42 6. Hillbridges 7. RUŽIČKA AND PARTNERS 7. HAVEL & PARTNERS 13.08 7. Barger Prekop 8. Valko Marián & partners 8. G. Lehnert 12.5 8. TaylorWessing e/n/w/c advokáti 9. Barger Prekop 9. Barger Prekop 11.5 9. PETERKA & PARTNERS 10. Adv. kanc. ECKER - KÁN & PARTNERS 10. TaylorWessing e/n/w/c advokáti 11.17 10. LawService

* sales revenue in 2018 (based on data from FinStat s.r.o.) * average number of attorneys in 2018 * net profit in 2018 based( on data from FinStat s.r.o.) Note: Only companies with more than 10 lawyers are listed. If this Note: Only companies with more than 10 lawyers are listed. If this criterion criterion did not apply, also BADUCCI Legal law firm would make was not applied, these companies would also make it into the ranking: AK LAW FIRMS it to the ranking. JUDr. Radomír Bžán and SELTON legal. Number Law graduates* besides 10 largest Number of law of attorneys (practice > 3 years law firms graduates attorneys / practice < 3 years) 1. SOUKENÍK – ŠTRPKA 58.09 24.92 33.17 (19.83 / 13.33)

2. Advokátska kancelária RELEVANS 38.92 20.5 18.42 (14.17 / 4.25) IN SLOVAKIA number 3. RUŽIČKA AND PARTNERS 35.08 27.83 7.25 (4.75 / 2.5) of law 4. TaylorWessing e/n/w/c advokáti 23.17 11.17 12 (10.92 / 1.08) 5. HAVEL & PARTNERS 22.41 13.08 9.33 (7.33 / 2)

graduates 6. Allen & Overy 21.25 13.75 7.5 (3.5 / 4)

7. Škubla & Partneri 21.09 13.42 7.67 (0.83 / 6.83) 2019 IN SLOVAKIA 8. PETERKA & PARTNERS 20.58 13.83 6.75 (5.58 / 1.17) 9. Hamala Kluch Víglaský 20.5 10 10.5 (8 / 2.5)

2019 10. Paul Q 19.84 9.67 10.17 (6.08 / 4.08) Financial data provider General Partner content advisor * average number of full-time law graduates in 2018 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract)

black & white greyscale inverse 34 LARGEST international LAW FIRMS in slovakia LARGEST LOcAl LAW FIRMS 35

10 LARGEST INTERNATIONAL LAW FIRMS IN SLOVAKIA 2019 10 LARGEST LOCAL LAW FIRMS 2019 An international law firm has at least two of its own offices A local law firm has offices mostly within the V4 region territory outside the V4 region territory (Slovakia, Czechia, Poland and Hungary) (Slovakia, Czechia, Poland and Hungary) 1. Allen & Overy 1. SOUKENÍK – ŠTRPKA 2. TaylorWessing e/n/w/c advokáti 2. Advokátska kancelária RELEVANS 3. PETERKA & PARTNERS 3. RUŽIČKA AND PARTNERS 4. Dentons Europe CS LLP 4. Barger Prekop 5. White & Case 5. HAVEL & PARTNERS 6. Kinstellar 6. Škubla & Partneri international 7. bnt attorneys-at-law 7. Hamala Kluch Víglaský 8. Noerr local LAW FIRMS LAW FIRMS 8. Valko Marián & partners 9. Ernst & Young Law 9. Hillbridges IN SLOVAKIA 10. Deloitte Legal This ranking of the 10 largest international law firms in Slovakia was created based on five factors derived from 2018 data to which we gave different weights: number of attorneys 10. Paul Q (36% weight); number of law graduates (practising longer than 3 years) besides attorneys (18% weight); number of law graduates (practising less than 3 years) besides attorneys (6% This ranking of the 10 largest local law firmswas created based on five factors derived from 2018 data to which we gave different weights: number of attorneys (36% weight); number 2019 weight); sales revenue (25% weight); average net profit value for 2016-2018 (15% weight). A few law firms decided not to provide information and are not included in this ranking. 2019 of law graduates (practising longer than 3 years) besides attorneys (18% weight); number of law graduates (practising less than 3 years) besides attorneys (6% weight); sales reve- nue (25% weight); average net profit value for 2016-2018 (15% weight). A few law firms decided not to provide information and are not included in this ranking.

10 largest international law 10 largest international law firms by number 10 largest international law firms 10 largest LOCAL law firms 10 largest LOCAL law firms by number 10 largest LOCAL law firms firms by revenue* of attorneys* by profit* by revenue* of attorneys* by profit* 1. Allen & Overy 1. PETERKA & PARTNERS 13.83 1. Allen & Overy Bratislava 1. Advokátska kancelária RELEVANS 1. RUŽIČKA AND PARTNERS 27.83 1. Advokátska kancelária RELEVANS 2. White & Case 2. Allen & Overy 13.75 2. White & Case 2. SOUKENÍK – ŠTRPKA 2. SOUKENÍK – ŠTRPKA 24.92 2. SOUKENÍK - ŠTRPKA 3. Dentons Europe CS LLP 3. TaylorWessing e/n/w/c advokáti 11.17 3. TaylorWessing e/n/w/c advokáti 3. RUŽIČKA AND PARTNERS 3. Advokátska kancelária RELEVANS 20.5 3. Adv. kanc. ECKER - KÁN & PARTNERS 4. Kinstellar 4. bnt attorneys-at-law 11 4. PETERKA & PARTNERS 4. Valko Marián & partners 4. Škubla & Partneri 13.42 4. Hillbridges 5. TaylorWessing e/n/w/c advokáti 5. Dentons Europe CS LLP 10.42 5. Dentons Europe CS LLP 5. Barger Prekop 5. HAVEL & PARTNERS 13.08 5. Barger Prekop 6. Squire Patton Boggs 6. White & Case 9.67 6. Kinstellar 6. Adv. kanc. ECKER - KÁN & PARTNERS 6. G. Lehnert 12.5 6. LawService 7. Ernst & Young Law 7. Kinstellar 8.33 7. Rödl & Partner Advokáti 7. HAVEL & PARTNERS 7. Barger Prekop 11.5 7. Valko Marián & partners 8. PETERKA & PARTNERS 8. Noerr 8 8. KPMG Legal 8. Škubla & Partneri 8. Hamala Kluch Víglaský 10 8. ČECHOVÁ & PARTNERS 9. Noerr 9. Ernst & Young Law 7.58 9. bnt attorneys-at-law 9. Hillbridges 9. ČECHOVÁ & PARTNERS 9.75 9. Advokátska kancelária Bugala - Ďurček 10. bnt attorneys-at-law 10. Lansky, Ganzger & Partner 7 10. PricewaterhouseCoopers Legal 10. Malata, Pružinský, Hegedüš & Partners 10. Paul Q 9.67 10. Bartošík Šváby * sales revenue in 2018 (based on data from FinStat s.r.o.) * average number of attorneys in 2018 * net profit in 2018 based( on data from FinStat s.r.o.) * sales revenue in 2018 (based on data from FinStat s.r.o.) * average number of attorneys in 2018 * net profit in 2018 based( on data from FinStat s.r.o.) Note: Only companies with more than 10 lawyers are listed. If Note: Only companies with more than 10 lawyers are listed. If this criterion was this criterion did not apply, also BADUCCI Legal law firm would not applied, these companies would also make it into the ranking: AK JUDr. make it to the ranking. Radomír Bžán, BADUCCI Legal, METIS Legal and SELTON legal.

10 largest Number Number of Law graduates* besides Number of law Number of Law graduates* besides attorneys of law attorneys attorneys (practice > 3 years 10 largest graduates* attorneys (practice > 3 years / practice < 3 years) international graduates* / practice < 3 years) local law law firms 1. TaylorWessing e/n/w/c advokáti 23.17 11.17 12 (10.92 / 1.08) firms 1. SOUKENÍK – ŠTRPKA 58.09 24.92 33.17 (19.83 / 13.33) 2. Allen & Overy 21.25 13.75 7.5 (3.5 / 4) 2. Advokátska kancelária RELEVANS 38.92 20.5 18.42 (14.17 / 4.25) number 3. PETERKA & PARTNERS 20.58 13.83 6.75 (5.58 / 1.17) 3. RUŽIČKA AND PARTNERS 35.08 27.83 7.25 (4.75 / 2.5) 4. Dentons Europe CS LLP 17.84 10.42 7.42 (3.92 / 3.5) number 4. HAVEL & PARTNERS 22.41 13.08 9.33 (7.33 / 2) of law 5. Kinstellar 15.25 8.33 6.92 (4.5 / 2.42) 5. Škubla & Partneri 21.09 13.42 7.67 (0.83 / 6.83) of law graduates 6. bnt attorneys-at-law 15 11 4 (2 / 2) 6. Hamala Kluch Víglaský 20.5 10 10.5 (8 / 2.5) 7. Deloitte Legal 15 6 9 (5 / 4) graduates 7. Paul Q 19.84 9.67 10.17 (6.08 / 4.08) IN SLOVAKIA 8. White & Case 14.84 9.67 5.17 (3 / 2.17) 8. Barger Prekop 19.67 11.5 8.17 (4 / 4.17) 9. Ernst & Young Law 12.08 7.58 4.5 (2.75 / 1.75) 9. HMG LEGAL 17.67 5.67 12 (8 / 4) 2019 10. Noerr 12 8 4 (4 / 0) 2019 10. Malata, Pružinský, Hegedüš & Partners 16.33 8.83 7.5 (4.92 / 2.58) * average number of full-time law graduates in 2018 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract) * average number of full-time law graduates in 2018 (including law graduates who cooperate with a firm on a daily basis with an exclusive contract) 36 Government policy & legislation Government policy & legislation 37

TSS: What are the main concerns the foreign businesses Top lawyer: Some opportunities only operating or wishing to operate in Slovakia voice when they approach your firm to assist come during revolutionary times with their business? fter the fall of the DS: As a student I started DS: Definitely. This whole profession. I’m glad judges DS: They worry about the totalitarian regime, working in a law firm, owned concerns all the legal professions. at courts have reacted now, poor enforceability of the law attorneys were used by a married couple who were A vast majority of top politicians saying that the judiciary needs and the unpredictability of toA taking care of all kinds of judges-turned-attorneys. Back are or were lawyers. Lawyers to deal with its black sheep. rulings. It might not affect their legal issues. Specialisation was then, the legal profession was have been seen negatively for It is a start. Courts and the business in general, but once unheard of and undesirable, yet still only being formed. Former a long time, sometimes due to judicial profession are subject to they are involved in a lawsuit, David Soukeník and his partner prosecutors, judges, and company envy, but oftentimes lawyers self-governing, and they need to suddenly trouble may arise. As Peter Štrpka decided it was the lawyers were the ones who went themselves are the ones to be manage the cleansing process on lawyers, we prefer to get a ruling methodology they wanted to into the business. The standard blamed for it. On the other their own terms. that we are unsatisfied with but pursue. was one, at most two attorneys hand, a smart young person Former president Andrej know is consistent. The worst One of the two founding working in a small office. They needs to see these drawbacks Kiska refused to prolong the thing is when you have to tell partners of the Soukeník – needed to handle everything, as opportunities. When things pension age of judges, which your client: I have no idea how Štrpka law firm that regularly including penal law, civil law, don’t work well, it means there is I believe to be a good thing. The this is going to end. What is places among the largest in and commercial law. Offices had room for those who go into that judiciary needs young blood, more, different courts have Slovakia looks back at how the a junior associate, a clerk and profession to do it better. That the generation of young yet different opinions on some legal legal profession developed in maybe a student. With Peter may have been the motivation sufficiently experienced people issues. A court in Prešov might Slovakia, along with the current Štrpka we decided to provide for me and Peter to go into who can translate new trends rule differently than a court in pains of the judiciary. legal services differently. We law. However, I understand into the justice system. Courts Banská Bystrica on the same wanted to have a one-stop-shop the negative attitudes towards need to be chaired by people issue. Judges should unify TSS: Slovakia now marks company that would provide lawyers might be off-putting. who can handle the excesses of their legal opinions around the 30 years since the fall of the all kinds of legal services to our As I already mentioned, big law individuals. country. That, of course, is the totalitarian regime. How has clients. We understood that if firms, where newcomers need to Supreme Court’s job, but some your profession changed since we wanted to provide a quality put their egos behind them and TSS: That’s your generation issues cannot be appealed at the then? service, we had to specialise. We become part of a colossus, are of lawyers. Do you see the Supreme Court. It might be David Soukeník: I graduated were therefore forced to recruit becoming the trend. In a way we motivation, the drive among things that are not even legally from university in 1999, other lawyers at that time. Hence, were lucky with the timing of the your colleagues to go into s.r.o. Courtesy of Soukeník-Štrpka, Source: complicated, like a distrainment but I have been aware of the we excluded penal law from our start of our career. Admittedly, the judiciary, even under the TSS: What happened scope and the way decisions who decides on the pending case case that some courts allow, significant changes the Velvet services, which was unheard if things worked here for all current circumstances? is that some judges have are published, which does not the attorney is involved in may whereas others based on the Revolution brought. As for our of and unthinkable for old- those decades before 1989 like DS: Judge is a prestigious apparently been involved with allow the public to keep an eye be a disciplinary offence. But same legal titles don’t. profession, after the revolution fashioned attorneys. We focused they did in western Europe, my profession, albeit its reputa- what we can call the mafia. Was on individual judges. If a judge judges cannot live in a bubble the professional chambers were on businesses and also serviced generation wouldn’t have so tion is somewhat shaken at the it the system that went wrong, rules in one way in three similar and never meet with anybody. TSS: Procrastination in founded, first the Slovak Bar clients in the regions. We knew many opportunities like we had. moment. People who have the was it set up incorrectly from cases and then suddenly issues It is completely acceptable that courts was one thing that was Association followed by the we did not have a history like the Some opportunities only come ambition to climb to the top the start, or were they just a completely different ruling in judges and attorneys mingle at often mentioned by foreign chamber of commercial lawyers, big global law firms, but we did during revolutionary times. consider judge to be the most individual failures? another such case, that seems social events or social lunches businesses as a problem. Have which later merged with the not want to be a small two-person prestigious among legal profes- DS: There are two levels: suspicious and potentially from time to time. But the things improved in this area Slovak Bar Association. The break- law firm limited to Bratislava. TSS: Isn’t the Slovak sions. It is often the case in west- the independence of judges with corrupt. Transparent publication judges need to have the integrity over the years? up of Czechoslovakia was another In a way we narrowed our world justice system going through ern countries that attorneys who regard to their communication of the decisions, which would to be able to assess their conflicts DS: The new Civil significant milestone, after which down to Slovakia, but we wanted revolutionary times once have reached all of their career with attorneys, and outright allow for the public to easily of interests. Certainly, it would Litigation Procedure Code many laws and institutions were to cater to all of Slovakia with our again, with all the misconduct goals want to become judges. bribery. The latter – issuing find all the decisions of the be good, as is common in that has been effective since made specifically for Slovakia, legal services. surfacing at once? The trend is also apparent here; rulings for bribes – is a crime respective judge, would arbitrations and abroad, if 2016 still has some flaws and different from the Czechoslovak DS: At the moment we just look at the selection of that falls on the heads of the significantly contribute to better judges performed impartiality requires a more comprehensive ones. A quarter century later, there TSS: The 2018 murder cannot say how the situation will candidates for the Constitu- individuals who have engaged public control of judges. tests, when, on the basis of amendment. However, the is already a significant difference of a journalist in Slovakia evolve. But there are signs that tional Court. Attorneys were in it. If there was a better The relationship between standardised questions, they fact is that the speed of court between Slovakia and Czechia in triggered a process that cleansing is possible. It’s quite among the candidates and some way to control the decision- a judge and an attorney is quite evaluate their attitude toward proceedings initiated after 2016 this respect. This opened the door has resulted in disturbing frustrating when people say that of them were successful. The making of judges, it would be problematic. It is a question the matter, the participants or has increased. Courts are rather to the foundation of new local revelations about the Slovak the whole judicial system is bad. judicial system is quite closed, easier to identify, and it would of ethics, and it is something to their legal representative. burdened by the long-delayed offices. justice system, including I believe the suspicions concern though. Selection procedures are appear continually, not only that needs to be handled by Attorneys should also point out suits instituted before 2016. corruption at courts. How does a low percentage of all judges open only when a judge retires when huge scandals surface judges and attorneys themselves. their own, even positive, bias We, too, have lawsuits that are TSS: Let’s look at the this influence people’s decision (most judges are decent and or leaves for some other reasons. like now. We have made a lot Based on the code of ethics in relation to the judge hearing 10 years old, and the judges are development in Slovakia. to go into legal professions? professionally competent). But Many lawyers still apply for of progress concerning the of the Slovak Bar Association, the case, and if this happens, the not really motivated to deal with You started your studies in Do you feel worsened moods the judges that were implicated these few vacancies, despite the publishing of court rulings, personal communication about judge should be excluded from them. Bratislava in 1993. among people towards lawyers? damaged the reputation of their things that have happened. but there are still gaps in the the pending case with a judge the case. By Michaela Terenzani SP019132/001 39

See page 85 page See The Soukeník – Štrpka law firm Soukeník – The The Škubla & Partneri law firm, Škubla & The Škubla & Partneri also advised firm. The HB Reavis developer that developer Reavis HB firm. The seller. City was the Twin built a syndicate of banksalso advised loan. Theyon gaining a significant of thefailed to specify the details but the loan amount isproject, extraordinary – €355 million. representing the Penta financial the Penta representing and its portfoliogroup companies, the debtor in financing represented - resi Park constructionthe Sky the of in central Bratislava. dential tower The transaction was worth €110 million. – the construction permit Park Sky and the subsequent divisionprocess Real company Penta Park of the Sky Estate is using to shelter the project. Financing and construction of Sky Park The Allen & OveryThe Allen law firm financial transac- Significant standard practice when the debtorstandard for the borrowed pays the creditor money. programmehelped the bank set the - bonds emission amount of covered includeding to €1.5 billion, which withthe €500-million emission rates. interest negative the by been overseen tions have law firm, which ranksDentons law firms.eighth among the largest developer advised the HB Reavis It about financing the constructionof bus terminal Nivy the new Stanica anotherworth million. In €175 advised a consortiumcase, Dentons in Austria Erste of banks led by of thein financing the purchase office building in Tower City Twin The transactioncentral Bratislava. was worth€120 million. The tower the companies AIPwas bought by Valesco and The Asset Management the Kinstellar law advised by Group, The ranking of top 50 dealsThe ranking of top 50 This emission was extraordinary ion islat leg & icy pol Government tomotive in the company Matador in the tomotive 30 to 60 from Vráble, Automotive of the transactionvalue The percent. - is a significant invest It is unknown. besides ment, because Matador, focuses on the research production, of new and robots and development tools.production repeatedly sees several financial sees several repeatedly White & Case lawoperations. The managers of the the represented firm bonds of Prima emission of covered value a cumulative with Banka of €500 million (the programme authorises the bank to issue further emissions up to €1.5 billion). because the bank wasfor the market, to sell it with Slovakia the first one in -0.096 rate of interest a negative with maturity in 2026. Thatpercent, for Banka pay Prima means investors unlike the lending it their money, Bonds with negative interest rates Bonds with negative interest GO AHEAD.GO BACK. YOUR GOT WE’VE WWW.DLMU.SK SAFE JOURNEY JOURNEY SAFE THROUGH OF TIMES THE UNCERTAINTY An acquisition that used theAn acquisition in theThe technology is used also central are Technologies

advisory services & of the Havel related to law firm is also Partneri PosAm, company Slovak The IT. group, Telekom part of the Deutsche in the share bought a 100-percent Commander Services company, onlinewhich specialises in the with the aimmonitoring of vehicles on fuel and serviceof cutting down man- the expenses, and improving park.agement of a vehicle capital, for instance, to monitor the mechanisms of winter road maintenance, and during the winter season this monitoring is available value of theonline to the public. The transaction has not been published or estimated. to an acquisition in the automo- & Partneri Havel industry. tive of the the share advised in increasing - Au company Sodecia Portuguese onitoring of vehicles Monitoring of

sme Source: Prague and Lviv, with and Lviv, Prague The top 50 deals include the law firm, TaylorWessing The app is a ride-hailing It Eterus Capital fund,The assisted in the TaylorWessing šice, company that has been developing an eponymous navigation app for 200 million About now. 15 years the app installed inusers have their phones worldwide. entry of a new in another investor tech company. successful Slovak the fifth largest in the ranking, advised “a central-European on equity investor private Slovak of the shares purchasing of the most popular provider failed The lawyers transport app”. to specify the details, but the informationpublicly available points to a sale of a minority share app. in the Hopin operating mainly in Bratislava, Ko about 120,000 rides per month. hope that it has a future Investors in, for instance, food delivery. and government which the Slovak & Company private Wood the into promising firm use to invest bought a 40-percent projects, value of The in Hopin. share the transaction has been neither published nor estimated. of the SK-NIC company, purchase the administrator of the national the British internet domain .sk, by CentralNic. group “We represented Slovak Slovak represented “We They failed to specify the The sale of the Sygic The sale of the owner ofThe new majority is a successful Slovak Sygic and Partners provided. provided. and Partners in court disputes on Telecom compensation for damages amounting to €140cumulatively alternative million, initiated by wrote. the lawyers operators,” aboutdetails, but it is probably the disputes that alternative operators initiated after the Commission fined European for abusive Telekom Slovak market, behaviour on the Slovak linked to setting the prices for access to its local loops for internet.broadband technology company was assisted the fourthby largest law firm in This the ranking, Allen & Overy. been officially transaction hasn’t weekly Trend published, but the based on on it in August reported findings. its own company, is the Eurowag Sygic and tolls specialising in fuel cards services provides It Europe. around to 11,000 clients and 250,000 gained Eurowag everydrivers day. The in Sygic. share a 70-percent of the transaction remained value estimated Trend undisclosed, but it at a minimum of €50 million. Sygic, Hopin and SK-NIC

elecom Kellner’s group was represented was represented Kellner’s group The Kinstellar law firm, the the M7 Earlier this year, Telecommunications are also are Telecommunications ion islat leg & icy pol Government telecom operator and the Home telecom operator and the Home financial company. Credit White & Case attorneys in the by largestthe transaction, the seventh of year’s ranking to this according largest law firms (see pg 33). The transaction is estimated at €2.1 bil- lion and is expected to be wrapped after the respective up next year, it. regulatoryoffices approve assisted sixth largest in revenues, of the M7 Group, in the purchase one of the largest operators of paid satellite television in Europe. Canal+ media group French The bought it for an estimated €1 billion, and the transaction has the European by been approved Commission. satellite bought the freeSAT Group platform. Canal+ will also gain and freeSAT of Skylink control The three the purchase. through services 3 estimated to have are In million subscribers altogether. has a traditionally Skylink Slovakia, position, with some halfstrong a million subscribers. Another subscribed75,000 households are to freeSAT. involved in the reference Ružička Ružička in the reference involved Conflicts with T over too costly internet

rd

ast year, several small small several ast year, companies, which provide services to tens of thousands This stems from the list ofThis stems from mainly theThis time around, Following more than two years more Following A major package of CME

of customers every day, changed of customers every day, The transactions belonged owners. the among the top deals of This Slovakia. largest law firms in Sygic included the sale of the another technological company, change of the Skylink ownership and satellite services provider, a new entering the Hopin investor was also the There transport app. conclusion of a merger of two insurance companies, NN and Aegon. the 50 largest or most important the largest by transactions overseen which Slovakia, law firms in Slovak their data to The provided for the fourth consecutive Spectator the list is year, Every year. transaction advisorydominated by services in mergers and acquisitions or sale of(joining and purchasing companies). of technologysales and purchases at stake. Lawyers companies are boasting often frequently more are in the finance area their references – that is, the advisory services they to banks to arrange large provide loans or to debtors to refinance loans or issue bonds. richest person in the world estimated to Forbes, according to be worth USD15.6 billion. the O2 PPF owns Slovakia, In of speculations, the sale of the Cen- Enterprises Media tral European (CME) multimedia company was The company concluded this year. inoperates on the television market - Slo Romania, Czechia, Bulgaria, it owns where and Slovakia, venia, group. programme the Markíza the PPF was bought by shares Kellner, Petr tycoon group Czech and the 73 the richest Czech

Sale of Markíza and Skylink Top deals of law firms in Slovakia in firms law of deals Top

38 L 40 2018/2019 Top 5 Deals of the Largest Law Firms in Slovakia Top 5 All-Time 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 Some law firms have decided not to provide details about their deals. Company Company (listed alphabetically) (listed alphabetically) www www

Názov Názov (v abecednom poradí) (v abecednom poradí)

www 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 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 Advokátska kancelária RELEVANS s.r.o. l l l l l Advokátska kancelária RELEVANS s.r.o. l l l l l l www.relevans.sk Legal advisory to buyer in relation Legal advisory in creation of joint Representing MCH in a dispute over Representing a bank in its €166 mil. Legal advisory to Slovak real estate www.relevans.sk Legal advisory to seller related to the Legal advisory to buyer on the acqui- Representing state cargo companies Representation of Mr. Grund and Mr. Representation of defendants in a to the purchase of three shopping enterprise of shareholders of Benestra damages of > €50 mil. due to profit receivable in insolvency proceeding. developer in relation to creation of sale of majority package of shares in sition of the multifunctional property ZSSK Cargo, Inc. and Railway Com- Hruby in "Carlton case" (34 legal pro- dispute concerning invalidity of legal centres in Spain (app.€500 mil.). and SWAN, which created the 4th payment restrictions to shareholders Eurovea City in Bratislava. EPH (app. €3 bn). Eurovea in Bratislava (app. €360 mil.) pany Slovakia, Inc., as defendants in a ceedings, accumulative value of three acts with a total value of more than biggest operator in Slovakia. of a private health insurance company. dispute for compensation of damages main disputes is over €200 mil.). €584 mil. of more than €82 mil. Allen & Overy Bratislava, s.r.o. l l l l l Allen & Overy Bratislava, s.r.o. l l l l l www.allenovery.com Advising Slovenské elektrárne on the Prima banka Slovensko as the issuer Advising Slovenské elektrárne on the Advising Infracapital, one of the largest Advising ENEL on the sale of its www.allenovery.com Advising Slovenské elektrárne on the Issuer and arranger for Prima banka Assisting Aegon on its €155 mil. Advising W.A.G. payment solutions , Global co-ordinators on the up to extension and renegotiation of their and arranger on the establishment of construction of units 3 and 4 of the European infrastructure investment 66% stake in Slovenské elektrárne to extension and renegotiation of their Slovensko on the establishment of disposal of insurance businesses in a.s. (CZ) on acquisition of a majority €3.025 bn leveraged acquisition finan- loan portfolio of €2.9 bn. the €1.5 bn covered bonds issuance Mochovce Nuclear Power Plant. funds, on the acquisition of the Slovak EPH and creation of a temporary joint loan portfolio of €2.9 bn. €1.5 bn covered bonds issuance the Czech Republic, and insurance interest in Sygic, a.s, leading provider cing of the PPF Group’s acquisition of programme and the inaugural covered utility group GGE. venture with EPH. programme. and pension savings business for NN of mobile-app-based navigation. the CEE/SEE business of Telenor. bond issuance of €500 mil., (first Group (SK). bond deal by a CEE bank priced with a negative yield). Dentons Europe CS LLP, organizačná zložka l l l l l Dentons Europe CS LLP, organizačná zložka l l l l l www.dentons.com Advising group of Slovak banks led by Advises borrowers and sponsors €495 Advises Sanofi across several Advises group of banks led by Tatra Prepares and negotiates credit www.dentons.com Advising HB Reavis on €175 mil. Advising Tatra Asset Management on Representing pro bono the parents of Representing the largest private TV Advising a syndicate of banks led by Tatra banka in relation to a syndicated mil. senior leveraged recap dividend European jurisdictions on regulatory, banka on €110 mil. financing of the documentation in relation to the financing of project STANICA NIVY, acquisition of KLM companies that the murdered investigative journalist company Markíza in criminal procee- Erste Bank on financing of the acqui- €250 mil. credit facility for refinancing credit facility provided by an inter- competition, contract, employment construction of SKY PARK Residence rescheduling of the loans of a major a supra-regional shopping mall hold retail boxes in 9 localities - one of Ján Kuciak in criminal proceedings. dings concerning forgery of promisso- sition of the office property Twin City of the Eurovea multipurpose complex national consortium of banks, led by and GDPR matters for generic division and financing of construction of SKY energy company. Our legal advice and a bus station of international the largest 2018 retail transactions. ry notes amounting to €68 mil. Tower (€120 mil.) in Bratislava. in Bratislava. This was the largest UniCredit CR, for our client Dr. Max. Zentiva business sale (transaction PARK Offices. included several parallel transactions, significance. real estate loan on the Slovak market value €1.9 bn). as the terms were negotiated with in 2016. each creditor separately. HAVEL & PARTNERS s.r.o., advokátska kancelária l l l l l HAVEL & PARTNERS s.r.o., advokátska kancelária l l l l l www.havelpartners.sk Acquisition of MATADOR Automotive Legal advice to the investor, Credo Legal advice to the investors, Credo Legal advice to the buyer on the acqui- Advising Panattoni, a major inter- www.havelpartners.sk Advice to the sellers (SLOVINTEGRA Acquisition of MATADOR Automotive Comprehensive legal advice for Ahold Legal advice on the acquisition of the Advising Železiarne Podbrezová on Vráble, a.s. and its subsidiary Stage II L.P., in connection with an Stage II L.P. and Digital East Fund sition of a 100% business share in national developer of industrial and and BIATEC GROUP in connection Vráble, a.s. and its subsidiary MATA- on its exit from the Slovak market. Romanian company A&D Pharma the acquisition of Transmesa, a major MATADOR Automotive Rus LLC by investment in SENSONEO. 2013 SCA SICAR, in connection with Commander Services by PosAm, which logistics facilities, on the construction to the sale of energy companies SLO- DOR Automotive Rus LLC by SODECIA AHOLD has operated 24 stores Group by Dr. Max from Penta In- Spanish manufacturer of precision SODECIA Automotive. an investment in Photoneo. is a subsidiary of Slovak Telekom. of industrial buildings. VINTEGRA ENERGY, GasTrading, SI Automotive. through the network of Hypernova vestments’ portfolio. Dr. Max operates pipes and tubes, through which HECU, SI Teplo, and BIATEC ENERGY, and Albert stores all over Slovakia. pharmacy networks in five European Železiarne Podbrezová also acquired forming the Levice Energy Complex countries. control over TAP, a Spanish company Kinstellar, s.r.o. l l l l l unti of VEOLIA Energia Slovensko. engaging in the same industry. www.kinstellar.com Advising CANAL+ Group on its Advising AIP Asset Management and Advising Nationale-Nederlanden on Advising Inteva Products on the Advising Veolia Energia Slovensko on Kinstellar, s.r.o. l l l l l acquisition of M7 Group, one of the The Valesco Group on the €120 mil. the acquisition of Aegon's life insuran- Slovak, Czech and Romanian aspects the acquisition of PPC Investments, www.kinstellar.com Advising on privatisation of SPP, Advising Cerner Corporation, a leading Advising Vinci Concessions and Advising Nidec Corporation on the Advising GIC, Singapore’s sovereign largest independent pay-TV operators acquisition of the newly developed ce and pension businesses in Slovakia of the USD755 mil. global sale of its which owns and operates a CCGT one of the largest ever transactions global supplier of healthcare technolo- Meridiam Infrastructure on €1.24 bn USD1.08 bn acquisition of the Brazi- wealth fund, on its €2.4 bn acquisition in Europe. Twin City Tower from HB Reavis. and the Czech Republic. roof business to CIE Automotive. power plant in Bratislava. in the history of Slovakia, valued at gies, on the USD1.3 bn acquisition of refinancing of the Slovak Republic’s lian compressor business, Embraco, of the European logistics property USD2.7 bn. Siemens Health Services. first PPP project, the R1 Expressway, from Whirlpool Corporation. company P3 Logistic Parks. through the issue of bonds listed on RUŽIČKA AND PARTNERS s. r. o. l l l l l the Luxembourg Stock Exchange by the concessionaire, Granvia. www.r-p.sk Advising Ministry of Health on the Advising MOL in voluntary share offer Advised ŽSR on the procurement of Supporting Slovak Telekom in three Advising Prologis, the global leader develop. and reconstruct. of hospitals and squeeze out proceedings, incl. re- two intermodal terminals in Lužianky follow-up damages lawsuits in the in industrial logistics real estate, in RUŽIČKA AND PARTNERS s. r. o. l l l l l l in Rázsochy (€250 mil) and Ružinov presenting the client towards involved (€40 mil.) and Žilina (€72mil) and aggregate value of approx. €140 mil., connection to several developments www.r-p.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 (€80 mil.) and related lawsuits parties. The first squeeze out in SR. a rail link modernisation project initiated by alternative operators. in Slovakia. 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 (€50mil). (€300mil). over €10 bn). The R1 project was the €4-6 bn. mately €1 bn electronic toll collection largest Slovak steel producer, VSŽ a.s. Západoslovenská energetika, a.s. in 1st PPP project that reached financial system in Slovakia. Košice, with a share capital of USD130 the process of privatisation. closure and received the Project mil., on privatisation and investment Škubla & Partneri s. r. o. l l l l l Finance Int. Europe Infrastructure contract negotiations with the Slovak Deal Award in 2009. Government. www.skubla.sk Complex one stop-shop legal services Legal advice on the financing of one Providing comprehensive legal advice Advised on the sale of the BCT2 office Complex legal advice to client in Škubla & Partneri s. r. o. l l l l l on the construction of Sky Park, an of the largest residential projects in on the corporate split of the company complex in Košice, eastern Slovakia to a unprecedented court dispute concer- exceptional residential and administra- Slovakia – Sky Park Residences SKY PARK s.r.o. with regard to a Austria's European City Estates. ning an unconstitutional prohibition of www.skubla.sk Representing a client in an interna- Representing a Slovak financial Legal counselling and due diligence, Acquisition of Sberbank – leading Fully fledged assistance on the acquisi- tive project designed by Zaha Hadid. (€110 mil.). planned division of the project itself. profit of health insurance companies. tional arbitration case against the institution in a case regarding financial focusing on complete contractual and legal advisor of purchaser in one tion of the leading Slovak media hou- Slovak Republic in connection with derivatives valued at over €100 mil. in legal documentation in connection of the largest acquisitions of 2015. ses Plus 7 dní, Trend and a 45 % stake investment protection and a damage court and arbitration proceedings, and with the acquisition of a Slovak bank Legal advise incl. competitive bidding, in media house Petit Press, including compensation claim worth over €500 connected complex legal counselling (Dexia), incl. legal counselling after due diligence, SPA negotiation, subsequent corporate restructuring mil. Represents connected national for the major shareholder of this the takeover. representation before National Bank and merger clearance. SOUKENÍK – ŠTRPKA, s. r. o. l l l l l l l l cases and proceedings. institution. and Antitrust Office. www.akss.sk Advice for Národná diaľničná spoloč- Advising on the application process Advising in the arbitration initiated by Representing a chain store client in the Legal advice on the notice of concent- SOUKENÍK – ŠTRPKA, s. r. o. l l l l l l l l nosť, a.s. (Ministry of Transport and for a syndicated loan amounting to Zero Bypass Limited (D4/R7 construc- so-called Million-fine proceedings. ration (€360 mil.). Construction) in relation to D4/R7 €355 mil. tor) against the Slovak Republic. www.akss.sk Advice for Národná diaľničná Advised in the final property Advising in the arbitration initiated by Advising in the application process Representing client before the Project (€1.7 bn). spoločnosť, a.s. (Ministry of Transport settlement of Gabčíkovo - Nagymaros Zero Bypass Limited (D4/R7 construc- for a syndicated loan amounting to Antimonopoly Office of the Slovak and Construction) in relation to D4/ Waterworks, including representation tor) against the Slovak Republic. €355 mil. Republic in the alleged breach of the R7 Project (€1.7 bn). in court proceedings for issuing claims, competition law (business company which resulted from the operation of operating in retail). hydraulic structure Gabčíkovo (€2.7 TaylorWessing e/n/w/c advokáti s. r. o. l l l l l bn in total). www.taylorwessing.com Representing a leading CEE real estate Advising the shareholders of the Advising a CEE private equity investor Advising a local real estate fund in Representing a leading textile retailer TaylorWessing e/n/w/c advokáti s. r. o. l l l l l l l developer who filed several EU trade biggest Slovak domain name registrar on its acquisition of a substantial stake two retail object acquisitions in Košice with a major logistic hub in Slovakia www.taylorwessing.com Advised a German world-leading Advised a Swiss construction Advised a foreign state export bank Advised a Slovak developer on the Advised a Slovak real estate developer 2 2 mark applications for its co-working on the sale of the shares to a strategic in a Slovak provider of a popular (size 9.500m and 12.000m ). in collective bargaining with the supplier of robot-based automation holding on acquisition of the leading on its €168 mil. receivable against acquisition of a 40,000 m² brownfield on construction, leasing and manage- subsidiary in opposition proceeding. investor. transport mobile application. trade unions. systems on the sale of its toolmaking manufacturer of windows and doors in a Slovak steel mill in an insolvency industrial site and development ment of a major 23,000 m2 shopping division in Slovakia to a German auto- CEE and subsequent expansion of the proceeding. to a residential and multi-function mall in Slovakia. mobile manufacturer and corporate production facility in Slovakia. city centre. re-organisation after the sale. White & Case s.r.o. l l l l l White & Case s.r.o. l l l l l www.whitecase.com Advised Nepi Rockcastle, a leading Advising NFŠ, a.s. and Tehelné, a.s. Advised Joint Lead Managers on the Advising PPF with its USD2.1 bn Advised Allianz-Slovenská poisťovňa, www.whitecase.com Representation of the Slovak Ministry PSA Peugeot Citroen - €700 mil. green- Represented Barclays, Citigroup, Advising PPF with its USD2.1 bn Represented a group of banks in real estate player in Central and in connection with the development inaugural issuance of €500 mil., 0.01% acquisition of CME, which owns TV a.s., a leading insurance company in of Transport on the €1.7 bn PPP con- field investment in its manufacturing Slovenská sporiteľňa, a.s. and Tatra acquisition of CME, which owns TV connection with the financing of the Eastern Europe, on its acquisition of and financing of the National Football covered (mortgage) bonds by Prima companies in five CEE countries. Slovakia, on its acquisition of the Slo- struction of the Bratislava D4 bypass car plant in Trnava. banka, a.s. as leading bond issue ma- companies in five CEE countries. The acquisition of Telefonica Czech Re- the Galéria Mlyny shopping mall. Stadium in Bratislava. banka Slovensko, a.s. due in 2026. vak branch of D.A.S. Rechtsschutz AG. and the R7 expressway. nagers of the Slovak Republic’s €500 transaction is subject to approvals of public, a major mobile operator in the mil. 2.250% notes due in 2068 and €1 the CME shareholders and respective Czech Republic and Slovakia, by PPF bn 1.000% notes due in 2028. antitrust authorities. Group, with total financing amounting to €2.288 bn. 42 local law firms local law firms 43

A local law firm has offices mostly within the V4 region territory (Slovakia, Czech Republic, Poland and Hungary). A local law firm has offices mostly within the V4 region territory (Slovakia, Czech Republic, Poland and Hungary).

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 2019 / Päť oblastí, ktoré v agende právnickej firmy mali services / business in 2018 / Päť oblastí, ktoré v agende právnickej firmy mali services / v roku 2019 najväčší podiel Ostatné v roku 2018 najväčší podiel Ostatné

služby služby

Company (Listed alphabetically) www Chief executive officer Company (Listed alphabetically) www Chief executive officer

Address Phone Phone Address Phone Phone City, Postal code Fax E-mail City, Postal code Fax E-mail E-mail E-mail

Názov (v abecednom poradí) Názov (v abecednom poradí) Adresa www Riaditeľ Adresa www Riaditeľ Mesto PSČ Telefón Telefón Mesto PSČ Telefón Telefón Živ. prostredie / Dane Due diligence prostredie Živ. law Criminal / Sports / Family / Športové / Rodinné právo Trestné E-mail Fax E-mail besides (lawyers attorneys) of establish./ No. lawyers Year in 2019 /Languages (počet bez právnikov advoká - právnikov Rok založenia / Počet 2019/ Jazyky tov) v r. in 2019/ No. of No. of attorneys in SR (no. foreign) in SR attorneys worldwide / No. of branches 2019 v r. advokátov v SR (zahraničných) Poč. / poč. advokátov vo svete / poč. pobočiek v SR in which your law firm has the most clients / Tri sectors, Three z ktorých má vaša kancelária najviac klientov sektory, 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 E-mail Fax E-mail besides (lawyers attorneys) of establish./ No. lawyers Year in 2019/ Languages (počet bez právnikov advokátov) právnikov Rok založenia / Počet 2019/ Jazyky v r. in 2019/ No. of attorneys No. of attorneys in SR (no. foreign) in SR worldwide / No. of branches 2019 v r. advokátov v SR (zahraničných) Poč. / poč. advokátov vo svete / poč. pobočiek v SR in which your law firm has the most clients / Tri sectors, Three z ktorých má vaša kancelária najviac klientov sektory, 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 / Dane Due diligence prostredie Živ. law Criminal / Sports / Family / Športové / Rodinné právo Trestné 1 Advokátska kancelária MCL, s.r.o. Matej Firický, Martin Habán, Martin Jurečko, Vojtech Pálinkáš premium listing 15 NOVICKÝ advokátska kancelária s.r.o. Jaroslav Novický Carlton Savoy & Courty- www.akmcl.sk +421(0)2 4363-8154 2015 12 (0) real estate, energy, no no Františkánska 5 www.aknovicky.cz +421(0)907 880-086 2009 2 (0) real estate, banking no no ard Building, Mostová 2 +421(0)2 4363-8154 [email protected] 17 (5) 12 trade yes yes Košice - Staré Mesto 040 01 +421(0)55 727-5225 [email protected] 3 (1) 6 & finance, trade l l l l l yes no Bratislava - Staré Mesto E, G, I, 1 l l l l l yes yes [email protected] +421(0)55 727-5113 E, G, 1 yes no 811 02 [email protected] 16 Paul Q Pavol Blahušiak Karadžičova 2, Twin City, Block A www.paulqlaw.com +421(0)2 5828-2802 1991 11 (0) real estate, IT, trade yes no 2 Bartošík Šváby s.r.o. Peter Bartošík, Boris Šváby, Igor Šváby premium listing Bratislava - Staré Mesto 811 09 +421(0)2 5828-2828 [email protected] 21 (10) 11 l l l l l yes no Plynárenská 7/A www.bartosiksvaby.sk +421(0)2 5244-2181 2005 12 (0) real estate, banking yes no [email protected] +421(0)2 5828-2829 E, G, 1 yes no Bratislava - Ružinov 821 09 +421(0)2 5244-2181 [email protected] 20 (8) - & finance, industry no no 17 Prosman a Pavlovič advokátska kancelária s.r.o. Tomáš Pavlovič [email protected] +421(0)2 5244-2182 [email protected] E, F, G, 1 l l l l l yes yes Hlavná 31 www.prosman-pavlovic.sk +421(0)908 116-232 2009 7 (0) real estate, trade, yes no Trnava 917 01 +421(0)33 533-2388 tomas.pavlovic@ppak 20 (13) 7 transport & yes no l l l l l 3 ČECHOVÁ & PARTNERS s. r. o. Tomáš Rybár premium listing [email protected], maros.prosman@ +421(0)33 533-2389 E, F, H, G, S, 4 logistics yes yes Staromestská 3 www.cechova.sk +421(0)2 5441-4441 1990 10 (0) industry, health no no ppak.sk Bratislava - Staré Mesto +421(0)2 5441-4441 [email protected] 16 (6) 10 care, trade no no 18 RUŽIČKA AND PARTNERS s. r. o. Jaroslav Ružička l l l l l 811 03 +421(0)2 5443-4598 E, F, G, R, 1 yes no Vysoká 2/B www.r-p.sk +421(0)2 3233-3441 1992 26 (0) real estate, industry, yes yes [email protected] Bratislava - Staré Mesto 811 06 +421(0)2 3233-3444 [email protected] 33 (7) 26 public adminis- l l l l l yes yes 4 SOUKENÍK – ŠTRPKA, s. r. o. David Soukeník, Peter Štrpka premium listing [email protected] +421(0)2 3233-3443 E, H, G, R, 1 tration yes yes 19 Škubla & Partneri s. r. o. Martin Škubla Šoltésovej 14 www.akss.sk +421(0)2 3220-2111 2003 25 (0) real estate, energy, yes no Bratislava - Staré Mesto 811 08 +421(0)2 3220-2111 [email protected] 58 (33) - trade yes yes Digital Park II, Einsteinova 25 www.skubla.sk +421(0)2 5778-8800 2002 11 (0) real estate, banking yes yes [email protected] +421(0)2 3220-2110 E, H, G, Pl, 5 l l l l l yes yes Bratislava - Petržalka 851 01 +421(0)2 5778-8800 [email protected] 21 (10) - & finance, health l l l l l yes no [email protected] +421(0)2 5778-8055 E, F, G, 1 care yes yes 20 Valko Marián & partners, s.r.o. Marián Valko 5 Advokátska kancelária RELEVANS s.r.o. Alexander Kadela Porubského 2 www.mvalko.sk +421(0)2 3231-3820 1991 7 (0) real estate, banking yes no Dvořákovo nábrežie 8A www.relevans.sk +421(0)917 803-736 2011 20 (0) real estate, banking no 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 Bratislava - Staré Mesto 811 02 +421(0)2 3235-4602 [email protected] 38 (18) 20 & finance, trade no no [email protected] +421(0)2 5441-1141 E, G, 1 yes yes [email protected] E, F, G, S, 2 l l l l l yes no

6 Barger Prekop s.r.o. Adrián Barger, Roman Prekop Carlton Savoy Courtyard, Mostová 2 www.bargerprekop.com +421(0)2 3211-9890 2010 12 (1) real estate, energy, no no Bratislava - Staré Mesto 811 02 +421(0)2 3211-9890 [email protected] 22 (10) 12 industry no no [email protected] +421(0)2 3211-9899 [email protected] E, F, G, I, 1 l l l l l yes no

7 Blaňár & Partners s.r.o. Pavol Blaňár Gunduličova 4 www.bpartners.sk +421(0)911 440-039 2010 1 (0) real estate, banking no no Bratislava - Staré Mesto 811 05 +421(0)911 440-039 [email protected] 3 (2) 1 & finance, energy yes no [email protected] E, R, 1 l l l l l yes no

8 CLS Čavojský & Partners, s.r.o. Peter Čavojský Zochova 6-8 www.clscp.sk +421(0)2 5564-3365 2006 9 (0) banking & finance, no no Bratislava - Staré Mesto 811 03 +421(0)2 5564-3365 [email protected] 14 (5) 9 industry, trade no no l l l l l [email protected] +421(0)2 5564-3361 E, Cr, F, G, 2 yes no

9 DETVAI LUDIK MALY UDVAROS Štefan Detvai, Zoltán Ludik, Jakub Malý, Ladislav Udvaros Cukrová 14 www.dlmu.sk +421(0)2 5292-3628 1993 7 (0) real estate, banking no yes Bratislava - Staré Mesto 813 39 +421(0)2 5292-3628 [email protected] 12 (5) 7 & finance, trade yes no [email protected] +421(0)2 5292-6002 E, F, H, G, R, 1 l l l l l yes yes

10 Hamala Kluch Víglaský s.r.o. Roman Hamala Poštová 3 www.hkv.sk +421(0)2 5441-0160 2006 10 (0) real estate, industry, yes no Diligent support. Bratislava - Staré Mesto 811 06 +421(0)2 5441-0160 [email protected] 21 (11) 10 other yes yes l l l l l [email protected] +421(0)2 5441-0761 E, F, H, G, R, 1 yes no

11 HAVEL & PARTNERS s.r.o., advokátska kancelária Jaroslav Havel Centrum Zuckermandel, Žižkova 7803/9 www.havelpartners.sk +421(0)2 3211-3900 2008 13 (5) real estate, energy, no no Bratislava - Staré Mesto 811 02 +421(0)2 3211-3900 [email protected] 23 (10) 150 industry yes yes l l l l l [email protected] +421(0)2 3211-3901 E, F, D, H, G, R, 1 yes no Pl, I, S, 12 Hillbridges, s.r.o. Zuzana Čuvala Bartošovičová, Zora Mistríková, Miroslav Trenčan Sedlárska 1 www.hillbridges.com +421(0)2 3219-1111 2008 7 (0) real estate, energy, yes no Bratislava - Staré Mesto 811 01 +421(0)2 3219-1111 [email protected] 12 (5) - industry l l l l l no no [email protected] +421(0)2 3214-4888 E, G, 1 yes no 13 Malata, Pružinský, Hegedüš & Partners s. r. o. Milan Malata, Róbert Pružinský, Vincent Hegedüš, Jana Alušíková EU Law and EU Funds | Litigation | IT Law Twin City Tower, Mlynské nivy 10 www.mph-advocates.com +421(0)2 3211-3042 2012 9 (0) banking & finance, no no Bratislava - Ružinov 821 09 +421(0)2 3211-3031 milan.malata@actlegal-mph. 18 (8) 9 IT, energy yes no Public Procurement | Office Lease | M&A l l l l l SP019111/001 [email protected] com E, 2 no no martinpavle.sk | [email protected] 14 Martin Pavle s. r. o. Martin Pavle Eurovea Central 1, Pribinova 4 www.martinpavle.sk +421(0)2 3231-0525 2008 3 (0) real estate, IT, public no no Bratislava - Staré Mesto 811 09 +421(0)2 3231-0525 [email protected] 6 (3) 3 administration l l l l l no no [email protected] E, 1 yes no 44 international law firms Who‘s who: attorneys in Slovakia 45

An international law firm has at least two of its own offices outside the V4 region territory (Slovakia, Czech Republic, Poland and Hungary). Five areas, which account for the greatest proportion of the law firm's Other business in 2019 / Päť oblastí, ktoré v agende právnickej firmy mali services / v roku 2019 najväčší podiel Ostatné služby Igor Augustinič Jaroslav Ružička Partner Managing partner bpv Braun Partners s.r.o., o.z. RUŽIČKA AND PARTNERS s. r. o. EUROPEUM BC, Suché Mýto 1, 811 03 Bratislava Vysoká 2/B, 811 06 Bratislava - Staré Mesto www.bpv-bp.com; Tel.: +421(0)2 3388-8880 www.r-p.sk Year of becoming an attorney: 2009 Tel.: +421(0)2 3233-3441 E-mail: [email protected] Year of becoming an attorney: 1992

Company (Listed alphabetically) www Chief executive officer Graduate of: Comenius University in Bratislava, University of E-mail: [email protected]

Address Phone Phone City, Postal code Fax E-mail Graz, Charles University in Prague, University of Vienna; Areas of law: banking Graduate of: Comenius University in Bratislava E-mail and financial law, M&A, competition law, corporate law and real estate law Areas of law: real estate, construction, corporate and M&A, infrastructure, PPP Three sectors, in which Názov (v abecednom poradí) your law firm has the most Adresa www Riaditeľ clients / Tri sektory, z ktorých Mesto PSČ Telefón Telefón má vaša kancelária najviac Peter Bartošík David Soukeník E-mail Fax E-mail besides (lawyers attorneys) in 2019/ Languages of establish./ No. lawyers Year 2019 / (počet bez právnikov advokátov) v r. právnikov Rok založenia / Počet Jazyky in 2019 / No. of attorneys No. of attorneys in SR (no. foreign) 2019 / poč. v r. advokátov v SR (zahraničných) in SR / Poč. worldwide / No. of branches 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 / Dane Due diligence prostredie Živ. law Criminal / Sports / Family / Športové / Rodinné právo Trestné Partner Partner 1 Allen & Overy Bratislava, s.r.o. Martin Magál Bartošík Šváby s.r.o. SOUKENÍK – ŠTRPKA, s. r. o. Eurovea Central 1, Pribinova 4 www.allenovery.com +421(0)2 5920-2400 1999 14 (2) banking & finance, yes no Plynárenská 7/A, 821 09 Bratislava - Ružinov Šoltésovej 14, 811 08 Bratislava Bratislava - Staré Mesto 811 09 +421(0)2 5920-2400 infobank.bratislava@ 25 (11) NA energy, industry no no l l l l l [email protected] +421(0)2 5920-2424 allenovery.com E, F, H, G, 1 yes no www.bartosiksvaby.sk; Tel.: +421(0)2 5244-2181 www.akss.sk; Tel.: +421(0)2 3220-2111 R, Pl, Year of becoming an attorney: 2004 Year of becoming an attorney: 2003 E-mail: [email protected] E-mail: [email protected] 2 bnt attorneys-at-law, s.r.o. Margareta Sovova Graduate of: Comenius University in Bratislava Graduate of: Comenius University in Bratislava Cintorínska 7 www.bnt.eu +421(0)2 5788-0088 2004 11 (1) real estate, industry, yes yes Areas of law: real estate, corporate and M&A, energy law, Areas of law: Development projects; Litigation, arbitration, Bratislava - Staré Mesto 811 08 +421(0)2 5788-0088 [email protected] 15 (4) 100 health care l l l l l yes no [email protected] +421(0)2 5788-0089 E, G, R, 1 yes yes labor law, litigation, intellectual property debt collection; Insolvency law 3 bpv Braun Partners s.r.o., o.z. Igor Augustinič Europeum BC, Suché mýto 1 www.bpv-bp.com +421(0)2 3388-8880 2009 7 (2) real estate, banking & yes no Bratislava - Staré Mesto 811 03 +421(0)2 3388-8880 [email protected] 10 (3) 140 finance, industry l l l l l no yes Martin Fábry Peter Štrpka [email protected] +421(0)2 2091-0844 E, H, G, I, 1 yes no Partner Partner 4 Deloitte Legal s. r. o., advokátska kancelária Dagmar Yoder Škubla & Partneri s. r. o. SOUKENÍK – ŠTRPKA, s. r. o. Digital Park II, Einsteinova 23 www2.deloitte.com/sk +421(0)2 5824-9111 2010 7 (3) real estate, banking & yes no Digital Park II, Einsteinova 25, 851 01 Bratislava Šoltésovej 14, 811 08 Bratislava Bratislava - Petržalka 851 01 +421(0)2 5824-9111 [email protected] 17 (10) NA finance, industry l l l l l yes yes www.skubla.sk; Tel.: +421(0)2 5778-8800 www.akss.sk; Tel.: +421(0)2 3220-2111 [email protected] E, K, G, 3 yes yes Year of becoming an attorney: 2006 Year of becoming an attorney: 2005 5 Dentons Europe CS LLP, organizačná zložka Peter Kubina E-mail: [email protected] E-mail: [email protected] Štefánikova 15 www.dentons.com +421(0)2 2066-0223 1996 17 (1) real estate, banking & yes yes Graduate of: Comenius University in Bratislava, University of Graduate of: Comenius University in Bratislava Bratislava - Staré Mesto 811 05 +421(0)2 2066-0111 [email protected] 24 (7) NA finance, health care no no l l l l l Amsterdam; Areas of law: corporate and M&A, competition, Areas of law: commercial law with a focus on corporate, [email protected] +421(0)2 2066-0999 E, F, H, G, R, 1 yes no disputes and arbitration, labour law, property and development banking, competition and energy law Pl, S, 6 Ernst & Young Law s. r. o. Róbert Kováčik Žižkova 9 www.ey.com/sk/en/services/tax/law +421(0)2 3333-9111 2015 6 (0) real estate, IT, industry no no Bratislava - Staré Mesto 811 02 +421(0)2 3333-9111 [email protected] 14 (8) 1,400 l l l l l yes no Jakub Malý Marián Šulík [email protected] E, G, 1 yes no Partner Partner 7 Kinstellar, s.r.o. Patrik Bolf DETVAI LUDIK MALY UDVAROS Škubla & Partneri s. r. o. Cukrová 14, 813 39 Bratislava Digital Park II, Einsteinova 25, 851 01 Bratislava Hviezdoslavovo nám. 13 www.kinstellar.com +421(0)2 5929-1111 2000 11 (1) real estate, banking & yes no Bratislava - Staré Mesto 811 02 +421(0)2 5929-1111 [email protected] 20 (9) 116 finance, energy l l l l l yes no www.dlmu.sk; Tel.: +421(0)2 5292-3628 www.skubla.sk; Tel.: +421(0)2 5778-8800 [email protected] +421(0)2 5929-1210 E, F, H, G, R, 1 yes no Year of becoming an attorney: 2014 Year of becoming an attorney: 2014 8 KPMG Legal s.r.o. Marian Dzuroška E-mail: [email protected] E-mail: [email protected] Graduate of: Comenius University in Bratislava Graduate of: Comenius University in Bratislava, University of Dvořákovo nábrežie 10 www.kpmg.sk +421(0)2 5998-4111 2012 3 (0) banking & finance, yes yes Bratislava - Staré Mesto 811 02 +421(0)2 5998-4111 [email protected] 11 (8) - industry, trade l l l l l yes no Areas of law: banking and finance, M&A, insurance, real Pennsylvania Law School [email protected] +421(0)2 5998-4333 E, R, 1 yes yes estate, employee shareholding/stock ownership plans Areas of law: corporate and M&A, banking & finance, real estate 9 Noerr s.r.o. Pavol Rak Palisády 29/A www.noerr.com +421(0)2 5910-1010 2004 8 (3) real estate, industry, trade no no Bratislava - Staré Mesto 811 06 +421(0)2 5910-1010 [email protected] 12 (4) 560 l l l l l no no Martin Pavle Boris Šváby [email protected] +421(0)2 5910-1011 E, G, 1 yes no Managing partner Partner PETERKA & PARTNERS advokátska kancelária s.r.o. 10 Ľubomír Leško organizačná zložka Martin Pavle s. r. o. Bartošík Šváby s.r.o. Kapitulská 18/A www.peterkapartners.com +421(0)2 5441-8700 2001 16 (2) real estate, industry, trade yes no Eurovea Central 1, Pribinova 4, 811 09 Bratislava Plynárenská 7/A, 821 09 Bratislava - Ružinov Bratislava - Staré Mesto 811 01 +421(0)2 5441-8700 [email protected] 24 (8) 150 yes yes www.martinpavle.sk www.bartosiksvaby.sk; Tel.: +421(0)2 5244-2181 l l l l l [email protected] E, Bul, F, H, G, 1 yes no Tel.: +421(0)2 3231-0525 Year of becoming an attorney: 2006 R, Pl, S, Year of becoming an attorney: 2007 E-mail: [email protected] 11 Rödl & Partner Advokáti, s. r. o. Maroš Tóth E-mail: [email protected] Graduate of: Comenius University in Bratislava Lazaretská 8 www.roedl.com/sk +421(0)2 5720-0410 2001 7 (0) real estate, energy, yes no Graduate of: Comenius University in Bratislava Areas of law: corporate and M&A, litigation and dispute Bratislava - Staré Mesto 811 08 +421(0)2 5720-0444 [email protected] 11 (4) 7 industry l l l l l yes no Areas of law: commercial contracts, litigation, EU law, IT, M&A resolution, labour law, real estate law, contract law [email protected] +421(0)2 5273-3643 E, G, R, 1 yes yes 12 Squire Patton Boggs s.r.o. Tatiana Prokopová Zochova 5 www.squirepattonboggs.com +421(0)2 5930-3411 1991 4 (0) real estate, IT, health care yes no Bratislava - Staré Mesto 811 03 +421(0)2 5930-3411 [email protected] 10 (6) 1,500 l l l l l no yes Tomáš Pavlovič Igor Šváby [email protected] +421(0)2 5930-3415 E, F, G, R, I, 1 yes yes Partner Partner Prosman a Pavlovič advokátska kancelária, s.r.o. Bartošík Šváby s.r.o. 13 TaylorWessing e/n/w/c advokáti s. r. o. Andrej Leontiev Hlavná 31, 917 01 Trnava Plynárenská 7/A, 821 09 Bratislava - Ružinov Panenská 6 www.taylorwessing.com +421(0)2 5263-2804 2004 14 (0) real estate, IT, trade yes no www.prosman-pavlovic.sk; Tel.: +421(0)908 116-232 www.bartosiksvaby.sk; Tel.: +421(0)2 5244-2181 Bratislava - Staré Mesto 811 03 +421(0)2 5263-2804 [email protected] 30 (16) 1,100 l l l l l yes no [email protected] +421(0)2 5263-2677 E, G, 1 yes yes Year of becoming an attorney: 2012 Year of becoming an attorney: 2009 E-mail: [email protected] E-mail: [email protected] 14 White & Case s.r.o. Marek Staroň Graduate of: Comenius University in Bratislava, Trnava Uni- Graduate of: Comenius University in Bratislava Hlavné námestie 5 www.whitecase.com +421(0)2 5441-5100 1997 12 (0) banking & finance, no no versity; Areas of law: commercial law, investing, securities, Areas of law: real estate, contract law, intellectual property, Bratislava - Staré Mesto 811 01 +421(0)2 5441-5100 [email protected] 15 (3) NA energy, industry l l l l l yes no [email protected] +421(0)2 5441-6100 E, F, G, S, 1 yes no bills of exchange and cheques law, network industries, civil employment, litigation, bankruptcy & restructuring 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 46 Government policy & legislation Government policy & legislation 47

l vendor tooling for Zones investment aid, the location of industrial production is allowed Slovakia is divided into three the investment project and the Guidelines for investment up to 20% parts – western, central and character of production, the l tax allowance is a pre- eastern – upon which maximum following specific conditions for ferred form of investment aid. intensity of investment aid supported areas apply: support across Slovakia granted is dependent. Support The year 2018 saw a change Supported areas continue to can be granted up to 35% of the Industrial production to the legislative framework. include: total amount of eligible project l minimum investment of The new Regional Investment l industrial production costs, depending on the main €200,000-40,000,000 Aid came into force on April l technology centres location of the investment. l minimum share of new 1, 2018 and responded to a l shared service centres technology in the total eligible transformation of the business A combination of General conditions capital investment costs 30-60% l l tasr

environment in Slovakia. Key investment aid for industrial initial investment is 20-200 created jobs priorities include support production and technology defined as the creation of a (obligatory if investor wishes of investments with high centres is also possible. new business, expansion of an to receive subsidy for newly- Source: added value, research and existing business, diversification created jobs) Shared service centres development, increase of Forms of investment incentives of production or radical change l minimum investment of innovation and automation include: in existing production Technology centres - R&D and €200 000 in line with Industry 4.0 l tax allowance (tax l eligible project costs are innovation l 20-50 obligatory newly technological trends and smart holiday) either capital investment costs l minimum investment of created jobs specialisation strategy - RIS3. l subsidy for acquired non- or wage costs or a combination €100,000-400,000 l minimum multiple of current tangible and intangible of both l 10-20 obligatory newly- AGMW paid to employees Key changes in the new legislative assets l the investor cannot start created jobs compared to AGMW for a framework include: l subsidy for newly-created work on an investment project l min. multiple of the particular district (1.5-1.8 l investment aid can also jobs before submitting an investment average gross monthly wage multiple) be provided in the form of a l transfer or lease of real aid application to the Ministry (AGMW) paid to employees By Lenka Bartoňová Source: SME Source: transfer or lease of real estate at estate at a price lower than of Economy. compared to AGMW for a par- Senior manager, PwC in Slovakia nvestment aid is an important inflow of investments into less devel- new and established investors with a price lower than market value market value. Depending on the form of ticular district (1.7-2 multiple) www.pwc.com/sk tool that reduces economic oped Slovak regions and increasing the realisation of their investment l the obligation of new disparities across the country the competitiveness of the economy. projects in existing or new opera- job creation in industrial Iwith the main aim of promoting the Support and encouragement for tions is another key feature. production has been omitted Full compensation for loss or damage in international carriage of goods by road according to the CMR Convention Maximum intensity of investment aid in Slovak regions A separate sphere of regulation of compen- eral rule in Article 23, section 3 of the CMR FAULT OF THE CARRIER sation for loss or damages in international Convention is not absolute. Exemptions ap- A more common reason for claiming full compen- carriage, especially international carriage by ply if there is a (i.) special interest in delivery sation for loss or damage is the application of Ar- road, is well known among the majority of or (ii.) specific fault of the carrier. ticle 29 et seq. of the CMR Convention, according businessmen nowadays. In situations where to which the carrier may not refer to the liability a carrier causes the loss or damage of goods SPECIAL INTEREST IN DELIVERY limits according to Article 23, subsection 3 of the during international carriage, its responsi- Provisions of Article 26 et seq. of CMR Con- CMR Convention if the damage was caused by wil- bility is limited by the provisions of Article vention enable the injured businessman to ful misconduct or by fault on the carrier’s part that 23, section 3. of the CMR Convention. JUDr. Tomáš Pavlovič claim from the carrier full compensa- is considered to be equivalent to wilful misconduct. tion of damages, but general Judicial practice of the European courts GENERAL LIABILITY IN INTERNATIONAL rules of liability limitation would otherwise shows that the application of this legal CARRIAGE BY ROAD apply. The application of this regulation is regulation is connected with such faults of Limitation of liability of a carrier is therefore a gen- conditioned by an agreement of the parties the carriers that may be generally described eral rule regarding compensation for damage. The to the carriage contract in which the sender as gross negligence. Most often, this occurs rule is that although the carrier is liable for damage declares the amount of special interest in when the carrier delivers the consignment in respect to total or partial loss of goods accord- delivery of the consignment on the CMR to an unauthorized addressee, the dam- ing to the value of the goods at the place and time document against payment of a surcharge age is caused by a traffic accident brought of their taking over for carriage, such compensation to be agreed upon. In the case of a valid Mgr. Adam Keseg about by the gross fault of the carrier, or shall not, according to Article 23, section 3 of the agreement and a fixed amount of special the consignment is stolen while the ve- CMR Convention, exceed 8.33 SDR1 per kilogram of interest, the sender may, independently of the li- hicle is parked in an unguarded car park2 or while gross weight. Should the damage to the consignment ability limits, claim compensation for the additional the vehicle is left unattended3. exceed the limit stipulated by the CMR Convention, loss or damage proved, up to the total amount of the To conclude, the international carriage of goods the carrier shall be exempt from the liability to com- interest in delivery declared. In practice, entering protects the carrier from the full liability for dam- Western Slovakia pensate the damage exceeding this limit. into such an agreement with a carrier is difficult as age. Nevertheless, this limitation is not boundless (except for the Bratislava Region) However, the limitation stipulated by the gen- it requires additional insurance on the carrier’s part. and is subject to special conditions.

Central Slovakia 1 Special Drawing Rights – unified monetary and accounting unit used within the International Monetary Fund. 2 OLG Köln, 10.12.2002 – 3 U 56/02, also Spanish Supreme Court Judgments 382/2015, Eastern Slovakia dated July 9 2015, and 399/2015, dated July 10 2015 3 LG Franfurt am Main, dated 11.09.2001 – 3/4 or 79/0

SP019140/001

Prosman_1_2_inz.indd 1 12. 11. 2019 14:19:51 48 Government policy & legislation Changes to the System of Remedies under the Amendment to the Government urged to adopt new Public Procurement Law – Take Two focus on R&D to help economy CHANGES IN LIFE AND LAW but the definition of the specula- Ján Azud is the head of Projects, fter 1989, Slovakia bet reasons behind this was that Slovak HARDLY EVER STOP tive challenge contains too many infrastructure and public procure- mainly on the manufac- companies were often reluctant to The same time last year we unclear terms, and its very exist- ment practice of RUŽIČKA AND turing industry to drive invest in R&D for a number of published an article about changes ence might lead to the hesitation PARTNERS law firm. His more than itsA transformation into a market reasons. to the system of remedies under of tenderers to enforce their rights 19 years long practice focuses on development of infrastructure pro- economy. Now it needs to shift One such reason is a concern Slovak public procurement law, guaranteed by European public jects, PPPs, public procurement and its focus to innovation and ramp among businesses over privacy which were brought about by an procurement regulation. Damages project financing. Over the years, up currently lacklustre corporate around their research. There is amendment to the Slovak Public caused by ungrounded challenges he has acquired ample experience spending on research and develop- a public register of taxpayers who Procurement Act that took effect could be significant, so it will be by participating in major projects ment, experts say. use the super deduction tax incen- on January 1, 2019. Not even interesting to follow the practice and vast amount of public procure- ment proceedings on both local and “If Slovakia does not want to tive and this register also contains a full year has gone by and the of the regulator and the courts international levels. From 2013 to end up as an assembly hall creating sensitive data about the relevant Slovak Parliament has passed both in terms of what kind of line 2018, Ján was a member of the JUDr. Ján Azud very little added value, it must R&D project, potentially giving another significant amendment they draw between a grounded Board of the Public Procurement Partner fundamentally change the structure important information to competi- to the regulation of remedies, and an ungrounded challenge Office. For three years he also acted RUŽIČKA AND PARTNERS of its economy,” Silvia Hallová, tors watching what products their which shall take effect on January and what sort of damages they as the adviser to the Chairman of the s. r. o. Public Procurement Office. Under his tax partner at Grant Thornton rivals are developing. 1, 2020. Granted, there is always accept as enforceable based on the lead, the firm´s public procurement sme Slovakia, a consulting firm, told “This can affect company com- room to improve the laws, but “abuse” of the remedy system. practice was granted the Law Firm of the Year award for seven The Slovak Spectator, adding petitiveness,” Hallová explained. constant changes to such an im- consecutive years. This year, Ján as the leading author together Source: that significant intensification of portant piece of legislation mean INCREASED FEES with other colleagues from his team finalised the Commentary to research and development (R&D) deduction’ of R&D costs. It allows of the incentive, deducting an Austrian example that users of the system can hardly While lawmakers could claim the Public Procurement Act, published in October 2019. by private companies is key. a company to deduct not just its additional €343 million from their Experts say that Slovakia must get used to it before it is tweaked last year that the fees associated actual R&D costs from its tax base tax bases and saving more than €72 focus on making the private sector at best, or totally changed at with remedies had been decreased, by EUR 30,000. In high-profile procedures. Of course, credit must Lagging behind but also an additional multiple of million, according to the TASR the primary driver of research. worst. It seems that we can make strengthening the position of projects worth tens of millions, be granted to the Public Procure- The European Commis- these costs. newswire. “The change in the super de- this a yearly update, so this is tenderers in enforcing their rights, the fees would remain the same ment Authority and the National sion’s European Innovation Experts say the overall financial In September 2019, new duction tax credit won’t be enough 2019’s take on some of the effects the opposite applies to the 2019 given the unchanged cap, but Council of the Slovak Republic Scoreboard provides a comparative support for R&D is insufficient legislation was introduced, raising on its own to draw innovative of yet another amendment to the amendment. The lives of unhappy there are many situations in mid- for their efforts to improve the analysis of innovation performance and lacks transparency. the amount that can be deducted companies into the country and national remedy system from the tenderers will be more expensive size tenders where international system as there is no doubt that in EU countries and regional “R&D support in Slovakia to 150 percent of R&D costs for get firms to replace part of their perspective of the tenderers. due to rising fees and, contrary bidders could find themselves there is some level of abuse of it neighbours. It assesses relative has problems with corruption 2019 and 200 percent as of 2020. production with R&D, which has to the former regime when they much worse off than before. by entities that are not genuinely strengths and weaknesses of na- and a non-transparent system “The increase in the R&D tax exponentially higher added value,” ERADICATION OF SPECULATIVE increased towards the business Another important change in interested in winning a tender tional innovation systems. of allocation of subsidies,” said credit is a very positive message for said Hallová. CHALLENGES OR AN ATTEMPT end of a tender, these increased the regulation of fees goes hand but for some reason attempt to In the 2019 scoreboard, Hallová, pointing out there had businesses,” Martin Rybár, partner She pointed to Austria as TO CURTAIL TENDERERS’ fees apply to all stages of the in hand with the introduction of frustrate the process. Nevertheless, Slovakia’s summary innovation been a number of scandals over the at Deloitte in Slovakia, told The a good example for Slovakia to RIGHTS procedure. The amount of fees the speculative challenges concept. it seems that stability, time and index stood at 69 percent of the allocation of EU funds at various Slovak Spectator. “The 200 percent follow. In order to eliminate the was set at 1% of the estimated If a tenderer files a challenge patience to develop settled case EU average. This was the same as Slovak ministries in the past. rate is also a competitive incentive “The Austrian car indus- speculative behaviour of economic contract value while the EUR that is labelled as speculative by law would better accommodate Hungary, more than Poland’s 61 Against this background, compared to other countries.” try’s revenues, at €40 billion in operators, the regulator intro- 2,000 floor and EUR 50,000 cap the regulator, the latter will stop the needs of stakeholders than percent but less than Czechia’s 89 however, research suggests local Hallová welcomed the increase 2018, are higher than those in duced a new concept called “an remained unchanged. This means, the remedy procedure and keep endless modifications. It remains percent. Slovakia was well behind companies want to invest in R&D. but said it will not usher in any Slovakia, even though there is not apparently ungrounded challenge” for example, that if a tenderer the fees in full. In other cases, to be seen how the new system Sweden, which topped the readings In a survey conducted by the fundamental change in this situa- a single finished-car production or put more simply “a specula- were to challenge a contract however, when the procedure is will work and, more than any- with 147 percent. audit and consultancy company tion. It will not lead to the arrival plant operating in Austria,” she tive challenge”. If a speculative notice for goods at an estimated stopped the fees are returned to thing else, how long it will last. Spending on R&D in Slovakia Deloitte in 2018, 87 percent of of innovative companies in the said. The Slovak car industry’s sales challenge is filed, the regulator value of EUR 3,000,000 under the challenger. Hence, tenderers Fun fact: the chairman of also heavily lags. According to responding firms said an increase country nor an increase in local were €30.4 billion in 2018, accord- will stop the remedy procedure, current rules, it would have to will have to be even more careful the Public Procurement Office Eurostat data, investment in R&D in the super deduction tax credit firms’ spending on R&D, she ing to official data. and the contracting authority that pay EUR 3,000 in administrative to ensure their challenges are publicly asked the president of in the country is only 0.88 percent would motivate them to use it. explained. She also highlighted Austrian was hurt by such a challenge may fees. Given the increase, in the firmly grounded. Otherwise, they the Slovak Republic to veto the of GDP, well below the EU recom- Meanwhile, 66 percent said they “Before the [super deduction] firms’ expenditures on R&D at claim damages from the challeng- same situation as of January 2020, run the risk of losing their money amendment because of changes mended amount of up to 3 percent would look to extend their R&D increase, Slovakia’s financial support 3.16 percent of GDP and the er. This all seems fine on paper, the tenderer would be set back in full. introduced to the bill during the of GDP. activities if the super deduction for R&D was comparable with that country’s network of so-called com- approval process in the parlia- were greater. offered in the Czech Republic and petence centres where universities, OVERALL ASSESSMENT ment. One of the reasons was the Companies want to invest in R&D, Originally introduced in 2015 Poland, but the country is behind scientific centres and the business The introduction of the increase of fees as discussed above. but… at a level of 25 percent, the super in the contribution innovating sector work on joint research pro- concept of the apparently un- The President obliged and vetoed R&D in Slovakia is sup- deduction was gradually increased companies make to the creation of jects as examples Slovakia should grounded challenge and increase the amendment with comments. ported from EU funds, grants, and to 100 percent. In 2018, 260 GDP,” said Hallová. follow. of fees aim to eliminate specula- It will be interesting to follow how tax incentives such as the ‘super Slovak companies took advantage She added that one of the main By Jana Liptáková tive behaviour by tenderers when the Parliament deals with the veto enforcing their rights and filing and whether the bill makes it into challenges against contract award law in its current shape.

SP019031/001

Ruzicka1_PR_2019.indd 1 12. 11. 2019 14:21:57 real estate: Ongoing projects 51

DESCRIPTION: Einpark EINPARK Residences represent contemporary and Location: Bratislava, Petržalka, Einsteinova Street stylish living in an attractive location. They are close Real estate section Completion date: 1Q/2020 to the historical city centre, and thanks to the nearby Website: www.einpark.sk cycling route and connectivity to all main roads the project offers excellent accessibility. EINPARK Offices is the first building in Slovakia with LEED PLATINUM pre-certification, offering flexible office space and a public rooftop terrace with a 360° view of Bratislava.

PROJECT TYPE Residential  Retail & entertainment  Office (administrative) 

Details Number of floors residential: 18; office: 6 Number of apartments 110 Size of apartments 35 - 211 m2 Gross built area 30,990 m2 Gross lettable area 17,880 m2 Gross office space 16,083 m2 Gross retail space 1,797 m2 Gross storage area 108 m2

Developer Corwin a.s. SP019120/001 Námestie Mateja Korvína 1, 811 07 Bratislava www.corwin.sk

DESCRIPTION: GUTHAUS, Corwin´s most ambitious project yet, is a Guthaus unique housing development that kickstarts the trans- Location: Bratislava, Nové Mesto, Račianska Street formation of the former industrial strip into a lively city Completion date: 12/2021 boulevard. The project consists of two towers, 17 and Website: www.guthaus.sk 20 storeys in height, interconected by a 8-storey block. GUTHAUS will be comprised of 292 apartments, providing the neighbourhood with more than 2,600m2 of green roofs and 14,000m2 of public landscape.

PROJECT TYPE Residential 

Details Number of floors Block A: 16; Block B: 8; Block C: 19 Number of apartments 292 Size of apartments 32 - 169 m2 (with a balcony) Gross built area 40,040 m2 (above-ground + underground) Gross lettable area 857 m2 Gross office space 680 m2 Gross retail space 177 m2 Gross storage area -

Developer SP019120/002 Corwin a.s. Nám. Mateja Korvína 1, 811 07 Bratislava www.corwin.sk 52 real estate: Ongoing projects real estate: Ongoing projects 53

DESCRIPTION: DESCRIPTION: Nesto The new city district of Bratislava, Nesto, will be built NUPPU The NUPPU project, which means flower bud in Location: Kopčianska near the border with Austria and it will be designed to Location: Bratislava, Ružinov, Mlynské Nivy / Hraničná Street Finnish, is destined to become the new blossoming Completion date: first objects 2022-2023 house 15,000 people. The main principles of Nesto are Completion date: 2019-2024 district of Ružinov. It consists of 10 phases, a big Website: www.nesto.sk creativity, ecology and accessibility. Future inhabitants Website: www.yit.sk yard and more than 1000 apartments, which will be will find housing, amenities, space for work and leisure finished in several phases during the next few years. activities. Nesto is a small town within the city and em- phasizes CO2 neutrality during the project’s operation. PROJECT TYPE Residential  PROJECT TYPE Retail & entertainment  Residential  Retail & entertainment  Details Office (administrative)  Number of floors 7-12 Tourism & leisure  Number of apartments 1000 Other (hotel, resort, etc.)  Size of apartments 37 - 117 m2 Details Gross built area - Number of floors - Gross lettable area - Number of apartments 170 Gross office space - Size of apartments 27-100 m2 Gross retail space - Gross built area 17,341 m2 Gross storage area - Gross lettable area - Gross office space 7,679.89 m2 Gross retail space 2,838 m2 Gross storage area - Developer Developer Lucron group a.s. SP019119/001 YIT SP019115/001 Záhradnícka 36, 821 08 Bratislava Račianska 153/A, 831 54 Bratislava www.lucron.sk www.yit.sk

DESCRIPTION: DESCRIPTION: Vydrica encompasses the area below Bratislava Vydrica Pradiareň 1900 is home to modern office premises Pradiareň 1900 Castle, on the site of the extinct historical quarter. The Location: Old Town Bratislava in the historic building of the former Spinning Mill Location: Bratislava, Ružinov, Svätoplukova Street revitilisation of the area creates a functional space Completion date: first phase 2022-2023 factory. As one of the few historical monuments in Completion date: 2020 for residents while connecting the divided city and Website: www.vydrica.com Bratislava, the building is coming back to life. The Website: www.yit.sk bringing the collective memory of the centre that once open plan creates a generous space of office premises was back to life. Developer Vydrica Development is that are both practical and representative of the area’s collaborating on the project with renowned architectu- rich historical past. ral studios, and urban and public space experts. PROJECT TYPE PROJECT TYPE Retail & entertainment  Residential  Office (administrative)  Retail & entertainment  Office (administrative)  Details Tourism & leisure  Number of floors 4 Details Number of apartments - Number of floors - Size of apartments - Number of apartments 450 Gross built area - 2 Size of apartments 23 - 201 m2 Gross lettable area 14,900 m 2 Gross built area 62,000 m2 Gross office space 11,800 m 2 Gross lettable area 23,000 m2 Gross retail space 3,100 m Gross office space 8,000 m2 Gross storage area - Gross retail space 10,500 m2 Gross storage area 4,500 m2 Developer Developer SP019119/002 Vydrica development a.s. SP019115/002 YIT Legionárska 10, 811 07 Bratislava Račianska 153/A, 831 54 Bratislava www.vydrica.com www.yit.sk 54 real estate: Ongoing projects real estate: Ongoing projects 55

DESCRIPTION: DESCRIPTION: GalvaniHOME GalvaniHOME is the perfect dwelling space for those Rezidencia Kyjevska Residence Kyjevská offers up to 66 standard furni- Location: Na križovatkách Street, Bratislava looking for a sense of community and home. Thanks Location: Rybníky II, Levice sed apartments, ranging from 1- to 4-room spaces. Completion date: 01/2021 to its excellent access to the city centre, schools and Completion date: 06/2021 Whether you are a single person, a couple, a small or Website: www.galvanihome.sk kindergartens, along with civic amenities and sho- Website: www.rezidenciakyjevska.sk larger family, this living space covers all of your needs. pping areas, are within an arms reach. The affordable Each apartment in Residence Kyjevská will offer you and comfortable apartments have been constructed something different, whether you long for a large from stylish and top-quality materials, blending in living area, multiple rooms, a balcony, a terrace, or a seemlessly to its highly engaged surroundings. garden.

PROJECT TYPE PROJECT TYPE Residential  Residential 

Details Number of floors 7 Details Number of apartments 200 Number of floors 4 2 Number of apartments 66 Size of apartments 34 - 125 m 2 2 Size of apartments 34 - 85 m Gross built area 11,275 m 2 2 Gross built area 3,800 m Gross lettable area 814 m 2 Gross office space - Gross lettable area 550 m 2 Gross office space - Gross retail space 814 m 2 Gross storage area - Gross retail space 550 m Gross storage area -

Developer Developer MartinDevelopment s.r.o. SP019128/001 MartinDevelopment s.r.o. SP019127/001 Prievozská 14, 821 09 Bratislava Prievozská 14, 821 09 Bratislava www.martindevelopment.sk www.martindevelopment.sk

DESCRIPTION: DESCRIPTION: Eight unconventional apartments with beautiful views Villa GrandVue A residential complex consisting of six detached PršiankaHOUSE are located in an enclosed complex surrounded by Location: Komonicova Street, Bratislava apartment buildings. You will fall in love with Prsianka- Location: Pršianska Street, Banská Bystrica nature. Grand Vue Villa is in harmony with its scenic Completion date: 12/2019 HOUSE, which provides breathtaking views in the lap Completion date: 03/2021 surroundings, its beauty maximised by the vibrant co- Website: www.grandvue.sk of nature with direct access to the city center. Website: www.prsiankahouse.sk lours of the changing seasons and its unique character - something you have only dreamt about until now. PROJECT TYPE PROJECT TYPE Residential 

Residential  Details Details Number of floors 5 Number of floors 3 Number of apartments 90 Number of apartments 8 Size of apartments 34 - 110 m2 Size of apartments 89 - 160 m2 Gross built area 7,134 m2 Gross built area 1,089 m2 Gross lettable area - Gross lettable area - Gross office space - Gross office space - Gross retail space - Gross retail space - Gross storage area - Gross storage area -

Developer Developer SP019125/001 MartinDevelopment s.r.o. SP019129/001 MartinDevelopment s.r.o. Prievozská 14, 821 09 Bratislava Prievozská 14, 821 09 Bratislava www.martindevelopment.sk www.martindevelopment.sk 56 real estate: Ongoing projects real estate: Ongoing projects 57

DESCRIPTION: DESCRIPTION: Rezidencia Ruža This modern flat complex in the heart of Ružomberok Rezidencia Brečtanová Project Rezidencia Brečtanová is a residential project Location: Poľná Street, Ružomberok has 28 flats with 2-3 rooms equipped with parquet, do- Location: Bernolákovo, Senec district, Bratislava region in Bernolákovo, just 10 kilometres from Bratislava. It is Completion date: 10/2020 ors, tiling, and sanitary appliances, along with storage Completion date: 08/2020 situated in a quiet location with newly built infra- Website: www.rezidenciaruža.sk space and parking. This project is currently growing in Website: www.rezidenciabrectanova.sk structure, which includes various types of 4-room and the proximity of the pedestrian zone with a full social 5-room houses with spacious gardens. The architectu- infrastructure. re utilises large windows to connect the interior with gardens. PROJECT TYPE Residential  PROJECT TYPE Residential  Details Number of floors 3 Details Number of apartments 28 Number of floors 1-2 Size of apartments 34 - 85 m2 Number of apartments 48 Gross built area 1,517 m2 Size of apartments 104 - 129 m2 Gross lettable area - Gross built area - Gross office space 72 m2 Gross lettable area - Gross retail space - Gross office space - Gross storage area - Gross retail space - Gross storage area -

Developer Developer MartinDevelopment s.r.o. SP019126/001 Stavflex SP019117/001 Prievozská 14, 821 09 Bratislava Popradská 34, 821 06 Bratislava www.martindevelopment.sk www.stavflex.sk

DESCRIPTION: DESCRIPTION: Residential house Vrakuňa provides a direct connecti- Bytový dom Vrakuňa Project Moje Milko is a residential project in Milosla- Moje Milko on to the city centre. You are sure to be satisfied with Location: Vrakuňa, Bratislava vov situated in a peaceful area with brand new infra- Location: Miloslavov, Senec district, Bratislava region the building’s proximity to the arm of the Danube, Completion date: 12/2021 structure. It consits of semi-detached family houses Completion date: 12/2019 where you can relax after a busy work day. Website: - with spacious gardens. When designing the project, Website: www.mojemilko.sk emphasis was placed on respect for the client’s privacy PROJECT TYPE and a high standard of housing. The project offers Residential  four-room apartments ideal for families. Details PROJECT TYPE Number of floors 11 Residential  Number of apartments 100 Size of apartments 34 - 120 m2 Details Gross built area 5,700 m2 Number of floors 2 Gross lettable area - Number of apartments 32 Gross office space - Size of apartments 106.5 m2 Gross retail space - Gross built area - Gross storage area - Gross lettable area - Gross office space - Gross retail space - Gross storage area -

Developer Developer SP019129/002 MartinDevelopment s.r.o. SP019117/002 Stavflex Prievozská 14, 821 09 Bratislava Popradská 34, 821 06 Bratislava www.martindevelopment.sk www.stavflex.sk real estate 59 BESICO MARTIN: The 8.2 hectare plot is situated in the village of Sučany near Martin within easy reach of Speedway R3. The project has a valid building permit for the first 9,200 2m . Total rentable area of production Growth drives investment in real estate and storage hall: 42,800 m2 Office space area: 4,4602 m Bratislava is getting a new downtown area Total number of parking places: 275 pcs he changing skyline of capital. This is, in fact, the first real or are just being completed. biggest developers of logistics and Two independent driveways. Bratislava reflects the estate investment with South Ko- “In general, demand for offices industrial real estate in Slovakia, Address: Štúrova 22, 949 01 Nitra sound economic growth rean capital in Slovakia, in line with remains high, but it is no longer has decided to extend its activities Tthat Slovakia has been experienc- the continuing and increasing trend at the level it was in 2016,” said to eastern Slovakia for the first time Contact person: Alex Hubrecht ing in recent years. A brand new of inflow of Korean capital to all of Šporka, adding that the factor and build a modern industrial and +421 917 702 356, [email protected] downtown area has been rising central and eastern European. affecting international companies logistics park in Nová Polhora, near Vladimír Vikor jr. in the former industrial zone on The Valesco Group, a real estate is the prevailing international eco- Košice. +421 905 833 877, [email protected] the edge of the old town, while investment manager from London, nomic uncertainty. “It is a region with high www.besico.eu new real estate projects, including and AIP Asset Management, an Šporka expects that construc- potential for growth and economic Slovakia’s first skyscraper, a Silicon- asset manager based in Seoul, paid tion will continue at pace, although development,” P3 Logistic Parks Valley-style IT campus and a brand €120 million for the office tower. this may result in an increased Slovakia’s head, Peter Jánoši, said new city district, just to mention “This prime asset, coupled with vacancy rate. in mid-October. This is due to the a few, are in the pipeline. an exceptional principal tenant region’s extending road infrastruc- DYNAMIK: Slovakia reported the entry of in Amazon in the growing core Eastern Slovakia finally in the ture but also due to the presence of This project is located in Nitra - city part Mlynárce, Korean capital for the first time of Bratislava offers a unique and logistics spotlight industries, services, trade, and an Nitra region, in the south of Slovakia. The plot is in 2019. As for sector specifics, compelling investment opportu- The growth of e-commerce and available labour force of high qual- within easy reach of Speedway R1A. The project logistics is an area highly sought nity,” said Shiraz Jiwa, CEO of The retail keep fuelling the demand for ity, he added. will be built in two phases. after, but with low availability in Valesco Group, as quoted in the logistics real estate. The first €10-million phase this area, so there are few ongoing firm’s press release. “Due to its advantageous posi- will result in two buildings, almost Total leasable area of production transactions. The retail segment In the last 12 months, office tion in the centre of the central- 13,000 m2 each, while the park, 2 and storage halls: 9,500 m is experiencing a similar situa- supply amounted to about 90,000 European region, Slovakia is after completion, may be as big as Office space area: 1,5802 m tion. The office sector is dominant m2, accounting for an approximate becoming an attractive destination 140,100 m2. in the number of ongoing deals, 5-7percent increase in the total of- for logistics companies operating Nová Polhora could become Total number of parking places: 40 pcs which are at a different stage of the fice stock of A and B grade quality, in this region,” said Patrik Janščo, an important node as it lies by Address: Štúrova 22, 949 01 Nitra transaction process as a result of Samuel Šporka, head of leasing at head of the industrial agency in the highway between Košice and Contact person: the abundance of newly built stock JLL, said in late October 2019. Cushman & Wakefield Slovakia. Prešov, the two largest cities in east- Vladimír Vikor jr. with attractive WAULTs (weighted “This means that this is one of “The Slovak logistics market is one ern Slovakia, and close to Ukraine, +421 905 833 877 average unexpired lease term), based the best periods for the completion of the quickest growing markets in whose economic growth prognoses [email protected] on Cushman & Wakefield’s Slova- of new offices in the last few years,” the region.” are positive. www.dynamik.sk kia data. Šporka told The Slovak Spectator. Moreover, the lack of labour Earlier in 2019, the Panat- “2019 year-end volumes will The biggest factor affecting the force in western Slovakia has made toni Europe industrial developer depend on the number of ongoing office sector is the past demand for eastern Slovakia more attractive for launched the construction of a new deals to be closed,” said Marian offices and their lack, triggering the developers of logistics and industrial eight-hectare industrial park near Fridrich, partner and deputy head current projects from 2015-2016. real estate. Košice airport, with a price tag of of Cushman & Wakefield Slovakia. These are now under construction P3 Logistics Parks, one of the €30 million. CEHIP: Despite the landmark office deal CEHIP industrial park has a total area of 5.5 [acquisition made by a Korean hectares and is situated in Nitra region, investor] and portfolio transactions in the city of Vráble. It has a close connection in logistics and the retail segment, to the R1 and the Industrial park in Nitra. the analysts expect the numbers to The project already has four existing tenants fall short of those of 2018 “partly (CESAM, Auria Solution, Nordiq Slovakia and due to the absence of big shopping Heller Services). The offered area has a valid centre transactions, which drove the planning permit for a built area of 12,000m2. volumes in previous years.”

Expected start of construction: Q4 2019. Office sector thrives Address: Doležalova 1, 949 01 Nitra The above-mentioned major transaction is the sale of developer Contact person: HB Reavis’ 23-storey Twin City Alex Hubrecht Tower, one of Bratislava’s land- +421 917 702 356 tasr marks in the new downtown, to [email protected]

companies backed by South Korean Source: www.cehip.sk

SP019134/001

Cehip_INZ.indd 1 13. 11. 2019 15:09:31 60 real estate

Appetite for retail real estate retail parks were completed, while Contribute to society by passing on the best works to future generations. continues the construction of Forum Prešov GLOBAL DESIGN ● ENGINEERING ● CONSTRUCTION The developers of retail real was launched, too. estate continue to be optimistic, “We expect an increase in rent- and experts do not expect any slow- als in premium shopping centres down in construction in Slovakia in with modern architecture and high the near future. The occupancy of customer comfort located at attrac- modern shopping centres is stable, tive places,” said Golan, adding that exceeding 95 percent. rentals in older shopping centres in Branislav Golan, head of highly saturated localities, whose P3 Nová Polhora the retail agency CBRE Retail, standards do not correspond with listed among their latest interesting the most modern shopping trends Source: projects the brand new Nivy bus and the expectations of visitors, are Estate, has already launched the sale ing prices of new apartments and station combined with a shopping either stable or even dropping. of apartments with the price of the houses, and the stable prices of the centre planned to be completed most expensive exceeding €6,000 older ones. The group of people in late 2020. Construction work The highest building in Slovakia will per m2. This is much more than the who can afford them is shrinking. for the extension of Eurovea was be a residential tower average price of apartments that “In spite of the historically launched, too. Polus, the first mod- The first building in Slovakia stood at €1,849 per square metre at lowest interest rates to date, there ern shopping centre in Bratislava, to meet the latest criteria for being the end of July 2019, up 7.6 per- is a growing group of people who constructed in 2000 and rebranded called a skyscraper, i.e. higher than cent y/y according to the statistics cannot pay the current prices,” to Vivo!, will open 25 new stores 150 metres, will be the 168-metre of the National Bank of Slovakia Daniela Danihel Rážová, director of in early November 2019 and an high residential tower that is part and the National Association of the real estate agency Bond Reality extension of Tesco Petržalka will of the extension of the Eurovea Real Estate Agencies in Slovakia. and head of Slovakia’s Association be completed during the second development on the Danube In general, the residential of Real Estate Brokers, told The quarter of 2020. In the regions, embankment. market keeps reporting a lack of Slovak Spectator. several smaller retail schemes and The developer, J&T Real housing, reflected in the increas- By Jana Liptáková

VGP Naďa Kováčiková +421 908 110 002 [email protected] www.vgpparks.eu

Locations for logistics industrial

and commercial activities SP019131/001 Pivovarská 16 010 01 Žilina Slovensko Tel: +421(0)41-5077901

VGP_SK_EN_186x132_2018.indd 1 07/11/18 14:48 E-mail: [email protected] Process CyanProcess MagentaProcess YellowProcess Black www.takenaka.eu

SP019114/001 62 real estate real estate 63

relaxation, restaurants and cafés. • Total acreage of retail space: phases of planning, construction It will also include a 168-metre Bory Mall (completed, 54,000 and completion. Top 5 real estate projects in Bratislava tall residential tower, meeting the m2); Bory Retail Zone (under • Developer: Cresco Real Estate ratislava has been experi- Tower - currently the highest build- • Start of construction: Dec 2016 latest standards of a skyscraper. construction, 70 hectares) • Total acreage: 914,700 m2 encing a real estate boom ing in Bratislava. Bus platforms will • Planned completion of con- With the existing Eurovea, office • Total acreage of offices:Bory • Total number of apartments: incomparable to its past be located on the first underground struction: after 2020 – the first buildings Tower 115, Landerova 12 Business Park (planned, 30,000 10,156; 539,391 m2 Band other parts of Slovakia. The storey, while the building will three residential towers should be and Pribinova 19, along with the m2); Bory Office (planned, not • Total acreage of retail space: city centre is getting extended have three above-ground and two completed in 2019/2020, the first residential Panorama Towers and a specified) 55,107 m2 from the Old Town eastwards by a underground floors. It will be office building during the third planned congress centre, Eurovea II • Start of construction: 2010 • Total acreage of offices: second phase of Eurovea shop- topped by a multifunctional green quarter of 2020; completion of will become part of Eurovea City. • Planned completion of con- 99,900 m2 ping mall, nearby Sky Park and a roof as large as two football pitches. the fourth residential tower and The Eurovea City’s public spaces Bory struction: not set • Start of construction: the fourth brand new bus station combined Stanica Nivy will be part of the the second office building has not are designed by renowned Spanish Bory is a brand new develop- • Total investment: not speci- quarter of 2010 with a shopping mall, Nové Nivy. developing city quarter Nové Nivy, been set yet architect Beth Galí. ment growing on the northeast fied (Bory Mall – €150 million, Brand new settlements Bory and into which the developer plans to Total investment: €326 million • Developer: J&T Real Estate outskirt of Bratislava. After comple- investments into preparation of Slnečnice are also being built on invest about €1 billion. • Total acreage: 155,000 m2 tion, it will consist of residential, the area – €125 million) the Bratislava’s outskirts. Here is a • Developer: HB Reavis tial towers and two administrative Eurovea II • Total number of apartments: retail and office zones. These are sample of the five largest and most • Total acreage: 103,000 m2 buildings. The project envisages a The long-awaited extension 488 in various phases of planning and Slnečnice significant developments. • Total acreage of retail space: minimum built-up area and the of the popular shopping and of- • Total acreage of retail space: construction; Bory Mall is already The urban housing project 70,000 m2 plus creation of a new city park, with fice area Eurovea on the Danube 25,000 m2 completed. Part of it will be a €200 Slnečnice (Sunflowers) is gradu- • Total space of the bus station: a historical industrial building, embankment, Eurovea II, will • Total acreage of offices: million top-of-the-art hospital. ally growing in a new quarter 30,000 m2 known as the Jurkovičova heating bring together residences, offices, 47,000 m2 • Developer: Penta Real Estate of Bratislava located south of • Total acreage of offices: 30,000 plant reconstructed and turned into shops, public spaces, waterfront • Start of construction: 2019 • Total acreage: 220 hectares Petržalka near the Danube. It • Planned completion of con- m2 (Nivy Tower) a publicly accessible place with a • Planned completion of con- • Total number of apartments: consists of the Viladomy Zone struction: 2030 • Start of construction: 2017 restaurant, café and a coworking struction: retail areas in 2022, 627 apartments are under with low-rise residential build- • Total investments: not specified • Planned completion of con- space. completion of the whole project construction within the first and ings, urban villas and family struction: Nivy Tower – 2019, • Developer: Penta Real Estate is planned for 2023 second phases, 663 within the houses, and the Mesto Zone with By Jana Liptáková Stanica Nivy – 2020 • Total acreage: 139,200 m2 • Total investment: not specified third and fourth phases residential buildings in various (Source: individual developers) • Total investment: not specified • Total number of apartments: Stanica Nivy 1,050 apartments (total acreage: Bus station Stanica Nivy will be Sky Park 77,200 m2) a combination of an international The project by the prominent • Total acreage of retail space: bus terminal, a shopping centre Zaha Hadid Architects studio 7,000 m2 Professional solution and the 125-metre-high Nivy consists of four 31-storey residen- • Total acreage of offices: 55,000 m2 of electrical installations

NECTEL company offers intelligent solutions of low voltage FAQ: Buying and selling a property in Slovakia and weak current installation mostly for commercial, Q: I want to purchase an apartment in Slovakia. Q: How do I go about entering real estate in the land A: This depends on the agreement between the two residential and industrial properties. Which authorities will help me with ownership registry/cadastre office? parties. We use our lengthy experience mostly on business issues? A: The transfer can be proposed by either the buyer, the Typically, the buyer pays the cadastre fees, but some centers, logistic parks, residential complexes and shopping A: The only state office you will be dealing with as the seller, or both, based on the agreement between the two people choose to divide the costs equally between buyer of real estate is the cadastre office, or land registry parties. They should then file the proposal to enter the themselves. If a real estate agency is involved, they pay MALLs to ensure that all of our jobs are completed office (Kataster or Katastrálny Úrad) in your respective ownership rights at the cadastre office (Návrh na Vklad the fees. to the highest standard. district office. If you are buying your apartment or house Vlastníckych Práv). This needs to be done in person at Q: Do I need to have permanent residence in Slovakia in Comprehensive service is supported by our design team, through a real estate agency, the agents usually handle your respective cadastre office (respective to where the order to be eligible for a bank loan from a Slovak bank? project management and full warranty and this for you. transferred flat or house is located). A: No, banks also provide mortgage loans to foreigners post-warranty service support. Q: What should I pay attention to before I sign a Q: How much does it cost to get the paperwork who do not have permanent residence in Slovakia. Some contract of purchase? done? banks, however, might require a confirmation of income A: The contracts must contain certain features as A: If the transaction is facilitated by a real estate agency, from a company based in Slovakia. • Earthning and Lightning Protection Systems stipulated by the law on cadastre (162/1995), these fees are usually included in the fee paid to the real Q: What other conditions do I need to fulfil in order to • Transformer MV/LV substations amended 212/2018. The contract must clearly state: estate agent. The fee can be a fixed sum or a percentage be eligible for a loan from a Slovak bank? • LV substations identification data of both parties of the contract, of the purchasing price. If you choose not to use the A: The standard criteria for Slovak citizens also applies a detailed specification of the real estate including services of a real estate agent, you need to pay the fees to foreigners. The bank will want to see your ID, as well • LV electrical installations, Arti cial lighting, LV switchgear production description, location, square metres, equipment, and for the cadastre proceeding (€66 for regular proceeding as any record of loan registry from your home country. • KNX/EIB Smart Building Solutions technical condition. If the cadastre office finds any within 30 working days or €266 in a fast-tracked When deciding on granting a mortgage, banks look • Fire Alarm System mistakes in this, they will suspend the proceeding. proceeding, within 15 working days - if submitted online, at a range of parametres, including age, education, • Voice Alarm System It should also clearly state the purchasing price, how clients pay half price). job, income, and number of children. It is not possible • Data cabling, IT distribution, Optical Backbone the money will be transferred from the buyer to the There is also a fee for the verification of the signatures of to guarantee your loan for real estate located outside • Intruder Alarm, Access Control, CCTV seller, and the deadline by when the transfer needs to be the sellers on the contract (price per signature, at a Slovakia. completed. The details on how the apartment or house notary office or your municipal office). The price per Q:How do I proceed at the cadastre office? will be given over to the new owner, such as keys or new signature may be around €3 or so. A: When paying for your real estate with a mortgage, you locks, needs to be clear in the contract, as well as the If you are buying real estate with a mortgage, you should need to file a proposal to enter the depository right to your deadline by when it should be done. also count on another fee at the cadastre office, €66, property in favour of the bank (Návrh na Vklad Záložného

By law, the contract should include the name and contact for entering the deposit contract with the bank in the Práva). SP019116/001 of the administrator of the apartment block and the registry. You can do this simultaneously when filing the proposal sanctions for both parties if they fail to fulfil their duties Q: Who usually covers the costs - the buyer or the to enter the property in the registry (Návrh na Vklad www.nectel.sk as defined by the contract. seller? Vlastníckych Práv). 64 real estate real estate 65

Former hospital to be turned Bratislava’s Petržalka to be extended into an innovation centre The new urban district of Nesto is projected to grow organically hen the founders of interconnected and inspiring the public on weekends. Part of linked with function, but they do nce it was a no the now global IT ecosystem, in which people will the plan is to connect the premises not place function above the design man’s land on the heavily security provider Eset want to work and spend time after to public transport, including the of the future campus. guarded Iron Curtain developedW their flagship product working hours.” railways, as well as build cycling “Our ambition is to create top Ojust beyond Bratislava. In the back in the early 1990s, they Eset wants to build not just paths. architecture, something special,” next 10-15 years, it will turn into named it Nemocnica na Okraji its own headquarters, but create said Luka, adding that the visualisa- Nesto, a new city district of Brati- Disku (NOD), or Hospital at a network of innovative, mainly Searching for an architect tions by the a11 atelier architectural slava. This will be a small town the Edge of the Disk, as they technological, firms. Luka used Alongside a team of experts studio, which Eset showed when in the city, while the developer considered computer viruses Silicon Valley as an example. Eset is preparing an ideological buying the premises in 2017, are Lucron plans to invest between diseases and their programme their “Concentrating such firms architectural tender, which will not being considered anymore. €800-€900 million. The developer, treatment. Now, after 30 years in could bring high added value,” not result in a final project, but the Eset expects to have the studio part of the IKO Real Estate inter- the business, they remain, even Luka said. selection of an architectural studio. selected by the end of 2019 or early national group and originating in though only accidentally, linked to The project aims to link top IT The studio will then prepare the 2020. Afterwards they will select Luxembourg, has taken an innova- health care. In 2017, they bought and technology firms with techni- final project. a local studio that will help with tive approach to its creation. the premises of the former military cal universities, while their premises “We are trying to find a partner the project. “Nesto will grow organically Lucron) hospital in Bratislava to build are close in nearby Mlynská Dolina who best understands the assign- “The concept architect will and will be formed by the lifestyle a brand new research and innova- and provide a modern form of ac- ment, the locality and the needs, bring visions, ideas and experi- and preferences of the people who tion campus. commodation for students, which and can cooperate with the entire ences, and the local partner is the will work and live in it,” said Peter Nesto (Source: “I had a long-term vision would deepen the integration of teams on materialising Eset’s vi- one who will adapt them so that Kavecký, responsible for strategic for Lucron. In the past, he was this as an increasingly popular way already be well grown and meeting of our headquarters built in the universities into the system. sions for the next 10-15 years,” said the final project is feasible in the projects at Lucron. “The new responsible for the urban regenera- of housing. its function,” said Kavecký. style of a campus – lower build- It should include public Ján Baška of the InFlow company, given environs,” said Baška. district is not designed to the very tion project of old port warehouses The results of a survey the In 2020, the developer will re- ings spread throughout a park,” premises and apartments to be which houses development man- The construction works should last detail, and there will be space in Hamburg into a new quarter, Focus polling agency conducted vitalise the space around the WWI Pavel Luka, the company’s chief rented mainly by the employees of agement for Eset. be launched in 2024 and the new for creative development.” HafenCity. for Lucron in June 2018 indicate cemetery and WWII bunker, which operations officer, told The Slovak firms located on the campus. The From a long list of 270 archi- premises should be completed in The developer has taken inspi- that while one half of people liv- is part of the plot and signifies Spectator. The company keeps investor wants to build a canteen, tectural studios, they first selected 2026. ration for the green-field project Main principles ing in rented apartments cannot a historical trace. expanding and out of its more than restaurants, cafés, shops, a pharma- 30 studios and then narrowed it of Nesto from European creative The main principles of the new afford their own housing, about 20 1,640 employees, more than 860 cy, a dental surgical unit, a nursery down to 10. Eset is selecting three Military hospital districts built according to the district are creativity, ecology and percent rent an apartment because First and second phase work in several places in Bratislava. school for employees’ children, candidates, all foreign studios, to The former military hospital Woonerf principles of city design, accessibility. it is more flexible, and the only The first phase of the project However, the company was a gym, a bicycle rental centre, an take part in the tender. spreads out behind a high fence, meaning a living street in English. Lucron perceives creativity in possibility of living in a preferred called South spreads over about not able to find land large enough auditorium, extensive green areas At Eset, they realise that the flanking the busy Lamačská These principles, originally imple- a broader extent when, apart from district or with friends. eight hectares. It will involve build- and sufficiently close to Bratis- and car parks that should also serve working environment is highly Cesta road, bordered by Cesta na mented in the Netherlands, include the way in which the new district “It turns out that the genera- ing housing for more than 4,000 lava’s centre, where such premises Červený Most and Mokrohájska shared space, traffic calming, and will be created, it includes the crea- tion of Millennials often prefers the people, retail spaces, a medicentre, could be built. Their vision only Streets, and the recreational Železná low speed limits. Examples include tive industry, to which it would like flexibility of renting to owning and a cultural centre, playgrounds, had a chance to materialise when Studienka area on other sides in the Naschmarkt in Vienna, Kreuzberg to give space. they decide based on the concept a kindergarten, senior housing as the possibility of acquiring the area known as Patrónka. in Berlin and Karlín in Prague. The ecology and sustain- and location offered,” said Paulína well as spaces for creative work. The premises of the former military All the buildings, except the The idea of the developer ability principle translates into Kosírová, director of hybrid and start of the construction is planned hospital near Bratislava’s recrea- underground bomb shelter, will be is that in the 48-hectare district making the district CO2 neutral. commercial real estates at Lucron. for March 2020 while investments tional green area Železná Studienka razed. now known as Kopčianska, its The project envisages a major are estimated at €90-€100 million. came up in 2017. Eset acquired “We want to use the shelter future dwellers will find housing, use of renewable energy sources, Trees were the first The second phase called North, the nine-hectare plot for €26.2 in a creative way,” said Luka. The amenities, and space for work up to innovative technologies, measures The developer wants to build which will spread over about 30 million and is looking for architects company has already used it for leisure time options. They perceive to capture water in the territory an attractive infrastructure and hectares should bring in housing to design its new research and in- presenting the ideas on the new this approach as a cure to prob- and a large space with greenery in public spaces with a lot of greenery for about 11,000 people. novation campus with a price tag of Eset premises for its employees. lems caused by the construction of various forms. so that the district is fully function- Both housing parts of the €100 million. Eset is still thinking about monofunctional zones like residen- al from the very beginning. In the project are planned for the left part “At Eset we fully realise that keeping a historical trace of the tial and office ones in Bratislava, Housing spring of 2019, it already planted of the plot. They will be divided by one of the main challenges for military hospital. resulting in a lot of commuting. Nesto will offer a mix of almost 600 10-year trees and more greenery and public spaces from companies as well as countries is “We are contemplating pub- “In Nesto, you will find housing forms, including various than 1,500 bushes on the border of the part allocated for business to keep talented people and enable lishing a book, which will describe everything you need for life and its large flats, family houses, co-living, the plot. These will serve as a green premises. These will include several them to fully use their potential,” the history of this place and tell the size allows you to concentrate all senior housing as well as rental border of the urban district and types of workspaces, including flex- said Luka. “This is why we started stories of personal observers,” said these functions in one place,” said housing. The latter should make up protect it from the wind. ible offices, small-scale offices and thinking about our headquarters Luka. Peter Gero, senior consultant for about 20 percent of the 4,500- “When people move in after hybrid spaces. not as office buildings but as an By Jana Liptáková urban planning and architecture 5,000 housing units, as Lucron sees three to five years, the greenery will By Jana Liptáková Source: sme 66 Real estate prices 2019 Real estate prices 2019 67

Residential properties - SALE Residential properties - RENT (Price in € per month) 5 or more Family house 5 or more Studio 1 - room 2 - room 3 - room 4 - room rooms Villa Family house plots Studio 1 - room 2 - room 3 - room 4 - room Villa Family house rooms Average Average Average Average Average Average price in € price in € price in € price in € price in € price in € Average Average Price Bratislava I 470 530 720 1,100 1,600 1,900 4,000 2,300 Price Price Price Price Price Price price in € price in € in €/m2 in €/m2 in €/m2 in €/m2 in €/m2 in €/m2 in €/m2 Bratislava II 380 450 580 690 1,000 1,300 2,700 1,020 99,000 138,000 190,000 286,000 400,000 466,000 Bratislava I 1,090,000 730,000 770 Bratislava III 420 450 580 740 1,100 1,400 2,300 2,000 4,018 3,466 3,189 3,020 3,086 2,914 69,000 96,000 135,000 175,000 230,000 248,000 Bratislava IV 360 410 550 660 950 1,400 3,000 2,000 Bratislava II 410,000 350,000 288 2,652 2,717 2,499 2,331 2,256 2,318 Bratislava V 450 450 580 650 750 1,500 2,900 1,700 84,000 107,000 143,000 189,000 267,000 345,000 Bratislava III 750,000 450,000 350 2,548 2,878 2,686 2,490 2,221 1,966 Banská Bystrica 270 350 500 600 900 1,500 N/A 580 75,000 94,000 133,000 154,000 188,000 312,000 Košice I 350 420 580 750 1,000 1,450 N/A 1,500 Bratislava IV 780,000 480,000 260 2,537 2,414 2,401 2,085 2,154 2,181 Košice II 350 380 570 640 600 N/A N/A 1,000 92,000 102,000 147,000 157,000 182,000 390,000 Bratislava V 560,000 320,000 215 2,787 2,865 2,642 2,205 2,055 2,748 Košice III N/A N/A 500 550 N/A N/A N/A 800 44,000 57,000 88,000 113,000 169,000 280,000 Banská Bystrica 402,500 174,000 61 Košice IV N/A 400 570 750 1,000 1,100 N/A 900 2,214 1,641 1,538 1,430 1,536 1,235 64,000 71,000 96,000 135,000 175,000 251,000 Nitra 350 410 530 650 780 N/A 3,100 1,000 Košice I 725,000 275,000 120 2,411 1,828 1,730 1,637 1,670 1,596 Prešov N/A 320 570 500 1,000 N/A N/A 1,000 55,000 59,000 84,000 113,000 119,000 132,000 Košice II 650,000 265,000 87 1,916 2,048 1,874 1,705 1,455 1,611 Trenčín N/A 400 440 570 950 N/A N/A N/A 52,000 61,000 87,000 115,000 136,000 N/A Košice III N/A 197,000 62 Trnava 300 410 570 650 700 1,100 1,500 800 2,191 1,879 1,539 1,523 1,805 N/A 62,000 72,000 80,000 113,000 118,000 249,000 Žilina 350 400 570 650 1,000 1,100 N/A 1,100 Košice IV 345,000 242,000 140 1,981 1,845 1,620 1,632 1,484 1,635 55,000 73,000 93,000 104,000 124,000 190,000 Nitra 360,000 156,000 70 2,453 1,883 1,546 1,414 1,296 1,094 49,000 54,000 76,000 100,000 132,000 157,000 Prešov 230,000 136,000 35 1,974 1,374 1,417 1,374 1,204 1,221 Industry & storage, Office and Retail Space - RENT & SALE (Price in €) 40,000 54,000 75,000 95,000 138,000 230,000 Trenčín 690,000 132,000 55 1,667 1,493 1,271 1,270 1,333 2,010 Banská Bystrica Bratislava Košice Nitra Prešov Trenčín Trnava Žilina 57,000 69,000 92,000 113,000 135,000 142,000 Trnava 230,000 160,000 65 Offices/ Rent (price per m2/month) 2,631 1,985 1,758 1,629 1,539 1,204 15 (12-16 centre / 54,000 66,000 100,000 119,000 128,000 174,000 high standard 10 11 12 8 8 11 11 Žilina 430,000 184,000 70 8-13 city)* 2,478 1,858 1,727 1,608 1,474 1,428 mid standard 6 10 7 8 5 6 7 7

lower standard 4 6 5 4 3 4 5 4 FAQ: Renting an apartment in Slovakia Offices/ Sale (price per2 m ) Q: Do I need approval from my landlord in order to A: First, you should speak directly to the neighbour authority office. The office will issue a card with your high standard 1,700 3,050 2,200 2,250 1,500 1,700 1,900 1,800 record my permanent address in the apartment that I to try to reach an agreement or compromise. If the tax ID number (DIČ) that is delivered by post within a mid standard 1,250 1,750 1,400 1,600 850 900 1,200 1,300 am renting? situation persists, you should talk to the owner of the few weeks. If your total rental income does not exceed A: Yes, you need the approval of the property owner, apartment, who might have more influence on the €1,968.68 (this is a number based on data from 2019 lower standard 800 800 750 900 600 650 750 750 your landlord, to be able to state the address of the neighbour. If the noise at night is made by students, and is regularly updated by the tax authorities), you will Retail space/ Rent (price per m2/month) property as your official address. Your landlord can you can often place your complaint to the parents. If not have to pay taxes on this income. In such a case, you come in person to state their approval or can give it to problems persist, you can turn to the municipal police or will only need to submit a statement that the rental reve- high standard 12 22 14 15 11 12 14 12 you in writing. Please note that the landlord‘s signature the municipal office. nue for a particular year has not exceeded this amount. on the document needs to be verified by the notary Q: Someone broke into the apartment that I am ren- The income can be offset by expenses connected to the mid standard 7 12 9 8 6 7 8 8 public office. You will also need the deed of ownership, ting. Do I have to pay for the things that were broken rental of the apartment, such as agency commission, re- lower standard 4 4 5 4 4 4 4 4 which cannot be older than three months, to prove that or stolen, or is it paid by the landlord? novation and other expenses that are directly connected the landlord who signed the document actually owns A: Under the duration of a rental contract, the tenant is to the rental of the apartment. Industry & storage/ Rent (price per m2/month) the property. fully responsible for the equipment of the flat, even if it is Q: I want to share my apartment for short-term stays high standard 4 7 5 5 3 4 5 4 Q: How do I get hold of the deed of ownership? damaged or stolen. Therefore, it is crucial to have a signed with tourists. Do I need to report that anywhere? A: It can be obtained at any cadastre office. If your pr- insurance contract that covers damages that might occur A: If you are closing a rental contract with a tourist, you mid standard 3 4.5 4 4 2 3 4 3 operty is in Bratislava, you can obtain it at Ružová dolina not only to the building itself, but also to equipment and do not need to report this short-term rent to the tax lower standard 2 3 2 2 1 2 3 2 27, 821 09 Bratislava district II. Please be aware that you personal belongings found in the flat. Such insurance authorities. However, renting your apartment this way is might need more than one hour to get such a document often covers furniture and electronic equipment, as well as a business activity (running an accommodation facility) Industrial parks / Rent in high standard (price per m2/month)* because of long waiting lines, especially at the Bratislava personal belongings. Luxury items and art, or even cash, and, as such, requires that you have a business licence. It is Warehouse & office. The deed of ownership can be also collected at a can usually be insured with an extra fee. important that you have the right type of contract, which 3.90 - 4.50 3.30 - 4.10 3.80 - 4.20 3.85 - 4.30 3.85 - 4.25 3.50 - 3.90 3.20 - 4.25 3.90 - 4.40 post office. The fee for collecting it is €8. Q: I want to sublet my apartment while I am not in also defines the services that you provide to the tenant. assemly space Q: What if the owner of the property I am renting is Slovakia. Do I need to report anywhere? Are there any Q: Do I have to pay taxes from short-term renting? Office space - service 8 - 9.50 8.50 - 9 8.25 - 8.75 8.50 - 9.50 8.25 - 8.75 8 - 8.75 8.20 -9 8.50 - 9 not in Slovakia? legal or tax duties connected with that? A: Yes, if you are renting an apartment based on a charge incl. A: The owner of the property can provide the power of A: If you are renting out an apartment as a private contract for short-term rental, and not based on your attorney to another person, who can represent the real person, first you need to find out if you are entitled business licence, your income is taxable and needs Plots for industrial projects / Sale (price per m2) owner and sign on their behalf. In such cases, a verified to sublet the property you are renting. Usually rental to be reported on your tax return. If your total rental Industrial zones 50 66 - 107 (city) 80 50 0 30 40 60 power of attorney, along with the notarised signature of agreements do not entitle you to sublet, unless you income does not exceed €1,968.68 (this is a number 70 - 90 (city) the landlord on the rental contract, have to be provided. have written confirmation from your landlord. In such based on data from 2019 and is regularly updated by Industrial parks* 30 - 50* 30 - 50* 30 - 50* 30 - 50* 30 - 50* 30 - 50* 30 - 50* Q: I am renting an apartment, and I have a problem with cases, if you do sublet, even for a short period of time, the tax authorities), you will not have to pay taxes on 40 (exit)* my neighbours. Is my landlord obliged to help me? you should register yourself as a landlord with the tax this revenue. N/A- not available Source: Nehnutelnosti.sk, 2019; * Source: CBRE, 2018 68 construction firms real estate consulting 69

Company (Listed alphabetically) www Chief executive officer Address Phone Phone

City, Postal code Fax E-mail E-mail

Company (Listed alphabetically) www Chief executive officer Názov (v abecednom poradí) Address Phone Phone Adresa www Riaditeľ City, Postal code Fax E-mail Mesto PSČ Telefón Telefón Other Major clients E-mail 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 advi - No. of employees / Slovak Foreign slovenských zamestnancov / Počet / Počet sors poradcov / zahr. 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 1 CBRE s.r.o. Tomáš Hegedüš Názov (v abecednom poradí) Staromestská 3 www.cbre.sk +421(0)2 3255-3302 2005 160 real estate, work place consultancy, Tatra banka, Avast, JCI, IBM, Eset, SwissRE, Dell, Adresa www Generálny riaditeľ Bratislava - Staré Mesto 811 03 +421(0)2 3255-3300 tomas.hegedus@ 3 / 68 40 architecture, property managment, Oracle, E&Y, PwC, Uniqa, Johnson&Johnson, l Mesto PSČ Telefón Telefón Projects in 2018 / 2019 Major clients Quality certificates [email protected] cbre.com E, Cr, Chi, F, H, 2 finance Allplan, Pfizer, ING, Union,Telekom ontract breakdown (%) Public/Private/Foreign breakdown ontract E-mail Fax E-mail of establishment / No. employees Year zamestnancov Rok založenia v SR / Počet Revenues 2018/ 2017 2017 v r. 2018 / 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. 2018 / 2019 Hlavní klienti Certifikát kvality G, R, S, 1 TAKENAKA EUROPE GmbH Petr Urválek premium listing 2 Colliers International spol. s r.o. Richard Urvay Mlynské nivy 10 www.colliers.com +421(0)2 5998-0980 2003 25 real estate financing consultancy NA Pivovarská 16 www.takenaka.eu +421(0)41 507-7901 2000 94.6 mil. EUR 0% Jaguar Land Rover, Kia Motors Slovakia; ISO 9001:2015; Bratislava - Ružinov 821 09 +421(0)2 5998-0980 richard.urvay@ 1 / 66 17 l Žilina 010 01 +421(0)41 507-7901 urvalek@ 50 150.50 mil. EUR 100% Mubea (design), G-Tekt Foxconn; Sejong; Jaguar ISO 14001:2015; l l l l l l [email protected] colliers.com E, G, I, S, 2 [email protected] takenaka.cz 0% Slovakia, Brezový háj, Land Rover; G-Tekt; Nitra ISO 18001:2007 3 Cushman & Wakefield Property Services Slovakia, s.r.o. Cristina Dumitrache Amazon Invest; Amazon Pribinova 10 www.cushmanwakefield.sk +421(0)2 5920-9340 2005 40 investment: acquisitions/sales, AXA, Careus, Eurovea, Gemo, HB Reavis, Bratislava - Staré Mesto 811 09 +421(0)2 5920-9333 cristina.dumitrache@ 1 / 70 28 l valuation, property and project Immocap, Immofinanz, InterCora, J&T, NEPI, 2 CESTY NITRA, a.s. Juraj Serva [email protected] cushwake.com E, G, 2 management Penta, Prologis, Steelcon, Reico, VIG, Dell Murgašova 6 www.cestynitra.sk +421(0)37 692-0516 1953 71.70 mil. EUR 61% road construction R1, NDS; SSC; RSÚC Nitra; ISO 9001, 14001; 4 Gleeds Slovensko Kamil Baďo Nitra 949 78 +421(0)37 692-0500 headoffice@ 257 60.30 mil. EUR 39% R1& SSÚR Galanta, NSK; TSK; communities ISO 10006; Vysoká 26 www.gleeds.com +421(0)2 5292-2320 1999 55 management and construction Immocap, Ballymore Properties, Slovenská spo- [email protected] +421(0)37 692-0517 cestynitra.sk 0% l l l l repairs R1, R2 SSÚR and private clients OHSAS18001 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 Nová Baňa & Zvolen [email protected] gleeds.sk E, Bul, F, G, I, NA Group, Tesco, TriGranit, Penta, P3, YIT 5 Jones Lang LaSalle s. r. o. Peter Nitschneider 3 COLAS Slovakia, a. s. Cyril Claude Bernard Pinault Námestie Mateja Korvína 1 www.jll.sk +421(0)2 5920-9920 2006 50 investment, valuation, property NA Bratislava - Staré Mesto 811 07 +421(0)2 5920-9911 peter.nitschneider@ 1 / 80 70 and project management, market Priemyselná 6 www.colas-sk.sk +421(0)904 703-934 1951 64.20 mil. EUR NA compressor station, NDS; Slovenská správa ISO 9001:2015, l l l [email protected] +421(0)2 5920-9910 eu.jll.com E, H, G, R, 0 research Košice - Staré Mesto 042 45 +421(0)55 633-2157 colas@ 509 63.50 mil. EUR NA ČOV, business residen- ciest; self-governing regi- 14001:2015; Pl, S, [email protected] colas-sk.sk NA l l l l l l l ce, bike paths, shopping ons; VVS.; Košice city OHSAS 18001:2007; 6 MRE Management, k.s. Peter Miščík centre ISO 10006:2019 Hviezdoslavovo námestie 7 www.modestagroup.com +421(0)2 3240-8888 2005 2 advisory, commercial real Prologis, P3, Mountpark, AXA Real Estate, CTP, Bratislava - Staré Mesto 811 02 +421(0)2 3240-8888 miscik@ 1 / 2 1 l estate services, land development, Goldbeck, DHL, Gebrüder Weiss, Carcoustics, 4 Doprastav, a.s. Dušan Mráz [email protected] modestagroup.com E, G, 2 investment Reifen Gundlach, SONY, Emil Frey, HELIKA Drieňová 27 www.doprastav.sk +421(0)2 4827-1501 1993 236.10 mil. EUR NA D1 Prešov západ - Národná diaľničná spo- ISO 9001:2016; 7 PM Group Slovakia s.r.o. Roman Zámečník Bratislava - Ružinov 826 56 +421(0)2 4827-1500 sekrgen@ 1,169 275 mil. EUR NA l l l l l l l l l Prešov juh ločnosť; ŽSR; Slovenská ISO 14001:2016; Ivanská Cesta 30/B www.pmgroup-global.com +421(0)2 5465-4814 2010 12 project management, architecture DCBA, Penta Investments, IKEA Bratislava, [email protected] +421(0)2 4827-1563 doprastav.sk NA správa ciest OHSAS 18001:2009 Bratislava - Ružinov 821 04 00421(0)2 5465-4814 bratislava@ 1 / 17 < 50 l & engineering, cost and technical Sconto Bratislava [email protected] pmgroup-global.com E, < 50 consultancy DYNAMIK HOLDING a.s. Vladimir Vikor Štúrova 22 www.dynamik.sk +421(0)37 314-1500 1990 40.20 mil. EUR 5% Jaguar Land Rover, Jaguar Land Rover; ISO 10006; ISO 9001; Nitra 949 01 +421(0)37 314-1500 info@ 140 25.50 mil. EUR 95% Bekaert, Avion, Cehip, Cresco; Ikea; Bekaert; ISO 14001; [email protected] +421(0)37 314-1560 dynamik.sk 0% l l l l Slnečnice III. phase, Cehip; Nemak OHSAS 18001 Slnečnice IV. phase

6 EUROVIA SK, a.s. Róbert Šinály Osloboditeľov 66 www.eurovia.sk +421(0)55 726-1101 1952 144 mil. EUR 68% MET Košice; D1 Prešov Národná diaľničná spo- ISO 9001; ISO 14000; Košice - Barca 040 17 +421(0)55 726-1101 riaditelstvo@ 680 167.50 mil. EUR 32% západ - Prešov juh; I/18 ločnosť; Slovenská správa ISO 18000 [email protected] eurovia.sk 0% l l l l Prešov, Levočská - Obr. ciest; self-governing REAL ESTATE mieru regions

7 Goldbeck, s.r.o. Pavol Čarný ADVISORS Dvojkrížna 9 www.goldbeck.sk +421(0)2 4564-2084 2004 70.50 mil. EUR NA NA NA NA Bratislava - Podunajské Biskupice 821 07 +421(0)2 4564-2084 bratislava@ 45 103.10 mil. EUR NA l [email protected] +421(0)2 4564-2085 goldbeck.sk NA 8 L-construction, s.r.o. Alojz Šroba MAXIMIZE THE POTENTIAL OF YOUR PROPERTY. Legionárska 10 www.lconstruction.sk +421(0)903 720-524 2015 33.30 mil. EUR NA Urban Residence, Arbo- Lucron Group NA Bratislava - Staré Mesto 811 07 +421(0)903 603-774 info@ 33 27.50 mil. EUR NA ria, Klingerka, National l l l [email protected] lconstruction.sk NA Football Stadium - South SP019124/001 tribune 9 NECTEL, spol. s r.o. Juraj Nemec MAIN +421 2 59 980 980 EMAIL [email protected] www.colliers.com Hrachová 18D www.nectel.sk +421(0)2 4333-0088 1991 10.80 mil. EUR 0% residential objects, large development and ISO 9001:2015; ISO Bratislava - Ružinov 821 05 +421(0)2 4333-0088 juraj.nemec@ 90 11 mil. EUR 95% l l l administrative objects construction companies 14001:2015; ISO BS [email protected] +421(0)2 3266-0911 nectel.sk 5% OHSAS 18001:2007 real estate agencies 10 Skanska SK a.s. Miroslav Potoč Provided services / Poskytované služby Active in sectors /Špecializácia na sektory

Krajná 29 www.skanska.sk +421(0)2 4829-5111 1999 109.90 mil. EUR 50% highway D1 Budimír- NDS; SSC; ŽSR; munici- ISO 9001:2009;

Bratislava - Ružinov 821 04 +421(0)2 4829-5111 miroslav.potoc@ 822 113.10 mil. EUR 32% -Bidovce, residential palities; private investors; ISO 14001:2005; [email protected] skanska.sk 18% l l l l l l l l l complex Bory Home II a developers OHSAS 18001:2008 Názov (v abecednom poradí) Premiére, BA Adresa Riaditeľ Mesto PSČ www Telefón / Znalecký posudok

11 STRABAG Pozemné a inžinierske staviteľstvo s. r. o. Juraj Hirner manažment / Pojektový

E-mail Telefón E-mail / Logistika a priemysel Fax Mlynské nivy 61/A www.strabag-pozemne.sk +421(0)2 3262-1111 1963 307.60 mil. EUR NA Apartment house Fuxova VW; Slovenské elektrárne; ISO 9001:2015; / Kúpa - predaj Bratislava - Ružinov 820 15 +421(0)2 3262-1111 juraj.hirner@ 703 387.60 mil. EUR NA Bratislava, factory Brose BROSE; INA; IKEA; ISO 14001:2015; BS Company (Listed alphabetically) Address www Chief executive officer

l l l l l l l / Obchodné priestory [email protected] +421(0)2 3262-3341 strabag.com NA in Prievidza, LINAK Real Estate; Gebrüder OHSAS 18001:2007 City, Postal code Phone Phone / Architektonické služby services / Architektonické rchitectural premises Weiss; NFŠ management roject E-mail Fax E-mail of establishment in SR / Languages No. Year in SR / No. of employees branches pobočiekRok založenia / Jazyky Počet v SR / Počet zamestancov 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 provízie: (%) / Výška kúpa - predaj provízie: Výška prenájom agents / # of Residential # of Commercial agentov na obchodyPočet s podnikateľskými priestormi agentov na obchody/ Počet s obytnými priestormi Residential / Rezidenčné objekty Office / Kancelárie Retail Logistics & industry / Hotely a voľný čas Hotels & leisure 12 STRABAG s.r.o. Branislav Lukáč 1 HERRYS Filip Žoldák Žilinská 7-9 www.herrys.sk +421(0)948 555-478 2011 5% 15 Mlynské Nivy 61/A www.strabag.com +421(0)2 3262-1026 1991 225.80 mil. EUR 90% D3 Čadca, Bukov - Svr- NDS; SSC; ŽSR; ISO 9001; ISO 10006; Bratislava 811 05 +421(0)948 217-888 [email protected] E, G, R, l l l l l 5% 15 l l Bratislava - Ružinov 825 18 +421(0)2 3262-1040 info.sk@ 680 186 mil. EUR 10% činovec, TIP Lužianky, self-governing regions ISO 14001; ISO 27001; [email protected] 3 / 30 [email protected] +421(0)2 3262-3341 strabag.com 0% l l l l l l l l railway modernisation OHSAS 18001 Slovnaft 2 1. realitná a aukčná spoločnosť, s.r.o. Adriena Litomerická Panská 27 www.realitna.sk +421(0)903 703-850 1993 3-4% 8 13 VÁHOSTAV - SK, a.s. Marián Moravčík Bratislava - Staré Mesto 811 01 +421(0)903 473-113 [email protected] E, F, H, G, R, l l l l l l l l 8.3% - 1 month 8 l l l l l [email protected] 1 / 10 rent Priemyselná 6 www.vahostav-sk.sk +421(0)2 4922-6204 1956 71 mil. EUR 80% D1 H.Podhradie - NDS; SEVAK; NR SR; ISO 9001:2008; 3 ADMS, s. r. o. Stanislav Haviar Bratislava - Ružinov 821 09 +421(0)41 517-1111 sekretariat_gr@ 550 84.90 mil. EUR 18% L.Lúčka, D1 Hubová ŽSR; SVP Bratislava; SSC 14001:2004; Kuzmányho 8 www.adms.sk +421(0)903 711-394 [email protected] vahostav-sk.sk 2% l l l l l l l l l - Ivachnová, R2 - Prešov BSi SAS 18001:2007 1998 - 3 Žilina 010 01 +421(0)903 711-394 [email protected] ring road E, G, l l - - l l l l [email protected] 1 / 5 70 real estate agencies developers 71

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

Company (Listed alphabetically) www Chief executive officer Company (Listed alphabetically) www Chief executive officer

Address Phone Phone Address Phone Phone

City, Postal code Fax E-mail City, Postal code Fax E-mail ) 2 / Znalecký posudok E-mail E-mail / MO a zábava / Riadenie projektu / Pojektový manažment / Pojektový / Priemysel. a logistické / Logistika a priemysel

/ Správa nehnuteľností / Správa / Plánovanie projektu / Vyhľadanie investora / Vyhľadanie / Kúpa - predaj

Názov (v abecednom poradí) Názov (v abecednom poradí) pozemkov / Vyhľadanie / Obytné Adresa www Riaditeľ Adresa www Generálny riaditeľ / Kancelárske / Iné Mesto PSČ Telefón Telefón / Obchodné priestory Mesto PSČ Telefón Telefón Ongoing and completed projects otal property area (sq m) otal property area / Architektonické služby services / Architektonické rchitectural roject management roject Residential Industrial & logistics Retail & entertainment Office Other / Iné Investor search Land search planning Project management Project RE management Other Number of employees / Year of establishment / Number of employees / Year Country of origin zamestnancov / Rok založenia v SR Počet pôvoduKrajina T (m projektov Celková výmera Year of establishment in SR / Languages / No. of branches in SR / No. of establishment in SR / Languages No. branches Year of employees in SR E-mail Fax E-mail pobočiek zamestancov v SR Rok založenia / Jazyky Počet v SR / Počet - 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 agentov priestormi / Počet na obchody s obytnými priestormi Residential / Rezidenčné objekty Office / Kancelárie Retail Logistics & industry / Hotely a voľný čas Hotels & leisure E-mail Fax E-mail Prebiehajúce a ukončené stavby 4 agreal.sk, spol. s r. o. Ilja Miškovič 1 CEHIP s.r.o. Alex Hubrecht Pri Habánskom mlyne 38 www.agreal.sk +421(0)907 201-692 2003 3% 1 Doležalova 1 www.cehip.eu +421(0)917 702-356 1 80,000 m² 0% 100% 0% 0% 0% Vráble: 6,500 m² by CESAM; 8,000 m² by Bratislava - Staré Mesto 811 04 +421(0)2 3810-4126 [email protected] E, F, G, R, S, l l l l l 8.3 % 3 l l l l Nitra 949 01 +421(0)917 702-356 alex.hubrecht@ 2007 Auria; 600 m² by Heller; 11,000 m² under [email protected] 1 / 2 [email protected] +421(0)37 793-0088 rft.be Belgium l construction; 10,000 m² with EIA and 5 Arthur Real Estate Company s.r.o. Erik Mikurčík permit in 2020 Zámocká 10 www.arec.sk +421(0)911 444-820 2000 2-5% 4 2 CORWIN a.s. Marián Hlavačka Bratislava - Staré Mesto 811 01 +421(0)911 444-820 [email protected] E, Cr, H, G, l l l l l l l l l 1 month rent 29 [email protected] R, I, S, l l l l l Námestie Mateja Korvína 1 www.corwin.sk +421(0)2 5441-6007 100 - 70% 0% 5% 25% 0% GUTHAUS, Blumental, EINPARK, Dúbravy, 1 / 20 Bratislava - Staré Mesto 811 07 +421(0)2 5441-6007 marian.hlavacka@ 2010 l l l l Záhrady Devín, Rinzle [email protected] +421(0)2 5441-6011 corwin.sk Slovakia 6 Axis real, spol. s r.o. Ľuboš Sigl 3 CRESCO REAL ESTATE, a.s. Štefan Beleš Bosákova 5/A www.axisreal.sk +421(0)2 5556-1936 2002 2% 2 Bratislava - Petržalka 851 04 +421(0)2 5556-1936 [email protected] E, R, l l l l 1 month rent 10 l l l l Poštová 3 www.cresco.sk +421(0)2 2086-4321 60 1,100,000 m² 80% 0% 10% 10% 0% Slnečnice; Slnečnice Market; UNIQ Staro- [email protected] +421(0)2 5556-1936 2 / 13 Bratislava - Staré Mesto 811 06 +421(0)2 2086-4321 beles@ 1992 l l mestská; UNIQ Majakovského, UNIQ Tesla 7 BOND Reality, s. r. o. Daniela Danihel Rážová [email protected] crescogroup.sk Slovakia Praha, Mlynská bašta Košice; ; III veže Mlynské nivy 58 www.bondreality.sk +421(0)905 333-333 2001 4 CTP Invest SK, spol. s.r.o. Remon L. Vos 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 Opletalová 87 www.ctp.eu +420(0)565 535-565 23 420,000 m² 0% 86% 0% 14% 0% CTPark Bratislava; CTPark Trnava; CTPark [email protected] +421(0)2 6345-1248 G, R, I, Bratislava - Devínska Nová Ves 841 07 +421(0)911 059-593 remon.vos@ 2007 Voderady; CTPark Žilina; Krásno nad 1 / - [email protected] ctp.eu Czechia l l l l l l Kysucou, Nové Město, CTPark Nitra, CTPark 8 CASSOVIA REALITAS Košice s.r.o. Jozef Tomčo Prešov, CTPark Košice Národná trieda 206/75 www.cassoviarealitas.sk +421(0)907 190-000 5 CZ Slovakia, a.s. Katarína Czuczová 2007 3% 12 Košice - Sever 040 01 +421(0)907 190-000 m.tomcova@cassoviare- E, H, G, I, l l l l l l 1 month rent 13 Dvořákovo nábrežie 8/A www.czslovakia.sk +421(0)2 5726-7811 29 4,000,000 m² 20% 65% 0% 15% 0% Office and residential development [email protected] +421(0)55 728-8586 alitas.sk l l l 4 / 20 Bratislava - Staré Mesto 811 02 +421(0)2 5726-7811 czslovakia@ 1993 l l (www.czslovakia.sk) [email protected] czslovakia.sk Slovakia 9 COMPRA s.r.o. Dagmar Lešková, Martina Kapušová 6 HB Reavis Group Marian Herman Mierová 83 www.compra.sk +421(0)2 4342-7088 2004 2% 6 Bratislava - Ružinov 821 05 +421(0)905 408-242 [email protected] E, G, l l l l l 1 month rent 6 l l l l l Mlynské Nivy 16 www.hbreavis.com +421(0)2 5830-3030 800 1,100,000 m² 0% 10% 20% 70% 0% Stanica Nivy (mall & bus station); New Apo- [email protected] +421(0)905 563-324 1 / 7 Bratislava - Ružinov 821 09 +421(0)2 5830-3030 hbreavis@ 1993 llo; Aupark Tower, Aupark shopping centres; [email protected] +421(0)2 5830-3000 hbreavis.com Slovakia l l l l l Twin City, Varso Place (PL), Agora (HU), One 10 Direct Real, spol. s r.o. Marian Patak Waterloo (UK) Žitná 1 www.directreal.sk +421(0)918 410-663 2007 3% 50 7 Immocap Group, a.s. Martin Šramko Bratislava - Rača 831 05 +421(0)905 338-877 [email protected] E, H, G, R, l l l l l l 100% 180 l l l l [email protected] 36 / 140 Plynárenská 7/C www.immocap.sk +421(0)2 5822-2800 20 255,000 m² 6% 0% 40% 50% 4% Bratislava Business Centre III, IV, V; Central 11 HALO reality s. r. o. Ľubor Mäsiar Bratislava - Ružinov 821 09 +421(0)2 5822-2800 immocap@ 1996 l l l l l l Bratislava; Residential Zone Čierna Voda; [email protected] immocap.sk Slovakia Underpass Trnavské mýto T. Vansovej 509/15 www.haloreality.sk +421(0)918 966-487 2012 - 100 Prievidza 971 01 +421(0)907 548-444 [email protected] - l l - 100 l l l l l 8 J&T REAL ESTATE, a.s. Pavel Pelikán [email protected] 24 / 100 RIVER PARK, Dvořákovo nábrežie 10 www.jtre.sk +421(0)2 5941-8217 135 1,100,000 m² 29% 21% 4% 29% 17% River Park; Panorama Towers; Grand Hotel Bratislava - Staré Mesto 811 02 +421(0)2 5941-8200 pelikan@ 1996 Kempinski; Landererova 12, Pribinova 19; 12 HERRYS s.r.o. Filip Žoldák l l l l l l Žilinská 7-9 www.herrys.sk +421(0)948 555-478 2011 5% 16 [email protected] +421(0)2 5941-8201 jtre.sk Slovakia Zuckermandel; Westend Plazza; Eperia Bratislava - Staré Mesto 811 05 +421(0)948 217-888 [email protected] E, F, G, R, l l l l l 5% 16 l l shopping mall, Eurovea City [email protected] 3 / - 9 Lucron Group a.s. Zoltán Müller 13 LEXXUS, a.s. Slávka Michaličková STEINERKA Business Center, www.lucron.sk +421(0)910 980-717 36 1,052,002 m² 68% 0% 0% 0% 32% Bratislava: Jaskový rad, Edenpark, Malé Miletičova 5 www.lexxus.sk +421(0)2 3200-0100 Legionárska 10 +421(0)910 980-717 info@ 2005 Krasňany, Urban Residence, Vydrica, Nesto; 2004 3% 15 l l l Bratislava - Ružinov 821 08 +421(0)911 988-000 slavka.michalickova@ Bratislava - Staré Mesto 811 07 lucron.sk Luxembourg Trnava: Arboria E, G, I, l l l l 1 month rent 15 [email protected] lexxus.sk l l l l l [email protected] 1 / 1 10 MartinDevelopment s.r.o. Martin Keszöcze 14 MADISON SK, spol. s r.o. Jozef Semjan Prievozská 14 www.martindevelopment.sk +421(0)915 979-574 - - 100% 0% 0% 0% 0% www.galvanihome.sk, www.grandvue.sk, Prešovská 39 www.madison.sk +421(0)905 659-156 3-4% 1993 1 Bratislava - Ružinov 821 09 +421(0)915 979-574 info@ 2015 l l l l www.rezidenciaruza.sk, Bratislava - Ružinov 821 08 +421(0)917 346-296 [email protected] 0.5-1 month E, G, R, l l l 2 [email protected] martindevelopment.sk Slovakia www.rezidenciakyjevska.sk [email protected] rent l l l 1 / 3 11 Penta Real Estate, s.r.o. Jozef Oravkin Národná asociácia realitných kancelárií Slo- Digital Park II, Einsteinova 25 www.pentarealestate.com +421(0)2 5778-8111 90 500,000 m² 26% 0% 26% 46% 2% Digital Park; Sky Park Residences; Sky Park 15 Ján Palenčár Bratislava - Petržalka 851 01 +421(0)2 5778-8111 bratislava@ 1994 Offices; Bory; Bory Mall; Záhorské sady; venska l l l l l Galvaniho 17/C www.narks.sk +421(0)902 952-391 1992 - 1,318 [email protected] pentainvestments.com Slovakia Nová terasa; Florentinum; Waltrovka; Bratislava - Ružinov 821 04 +421(0)902 952-391 [email protected] E, G, l l - 1,320 l l l l l Rezidencie Pri Mýte [email protected] 203 members 12 Prologis Martin Polák 16 Pergo s.r.o. Jakub Demáček Diaľničná cesta 24 www.prologiscee.eu +421(0)904 661-044 7 406,940 m² 0% 100% 0% 0% 0% Prologis Park Bratislava; Prologis Park Žiar Mliekárenská 7 www.pergo.sk +421(0)2 2090-2022 2007 3% - Senec 903 01 +421(0)2 3217-0108 mpolak@ 2005 l l l l l nad Hronom 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] +421(0)2 3217-0001 prologis.com USA [email protected] 1 / 10 13 Royal Reality (Bernolakovo Gardens s.r.o.) David Sebök 17 RE/MAX Slovakia Richard Churý Popradská 34 www.royalreality.sk +421(0)907 319-846 4 8,000 m² 100% 0% 0% 0% 0% www.mojemilko.sk, www.bernolakovogar- Cesta na Senec 2/A www.re-max.sk +421(0)2 4924-4301 2006 by agreement 250 Bratislava - Podunajské Biskupice 821 06 +421(0)907 319-846 petra.uhlarova@ 2016 l dens.sk, www.mojebernolakovo.sk Bratislava - Ružinov 821 04 +421(0)2 4924-4301 [email protected] E, l l by agreement 250 l l l l l [email protected] royalreality.sk Slovakia [email protected] 45 / 5 14 VGP Tomáš Bednár 18 RK SPIRIT, s.r.o. Dušan Štric Garbiarska 695 www.rkspirit.sk +421(0)915 797-979 2002 3-7% 6 Suché Mýto 6 www.vgpparks.eu +421(0)908 110-002 2 400,000 m² 0% 90% 0% 10% 0% Logistics and production buildings for tenants Liptovský Mikuláš 031 01 +421(0)915 204-151 [email protected] E, Cr, R, Pl, Sl, l l l l l 1-3 month rent 6 l l l l l Bratislava - Staré Mesto 811 03 +421(0)908 110-002 tomas.bednar@ 1998 l l l l l l such as Benteler, Tajco, Volkswagen AG, Ideal [email protected] 3 / 2 [email protected] vgpparks.eu Czechia Automotive, Fromm Packaging 19 VRK REAL PLUS s.r.o. Kristián Vasilev 15 YIT Slovakia a.s. Milan Murcko Hutnícka 22 www.realplus.sk +421(0)918 181-111 1997 - 3 Račianska 153/A www.yit.sk +421(0)800 800-474 200 - 80% 0% 10% 10% 0% Residential projects: ZWIRN, STEIN2, Košice - Staré Mesto 040 01 +421(0)918 181-111 [email protected] E, H, l l l l - 3 l l l l l Bratislava - Rača 831 54 +421(0)800 800-474 info@ 2010 l l l l l TAMMI, PARI, NUPPU, VILLINKI, TARJANNE, [email protected] 1 / 6 [email protected] yit.sk Finland KIVIKKO; Offices: Pradiareň 1900 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 Prohibition Of Competition After Employment Termination

order to protect the In order to avoid any confusion employer (e.g. computer services) is obliged to provide the employee Labour market competitiveness of the as to what activities the employer but in another area (the employer with financial compensation of at employer on the market, considers to be competitive in designs websites, the employee least 50 % of the employee‘s average Inalong with the original results of relation to its scope of business, the programs games), they may not be monthly earnings for each month its economic activity and the right employee and the employer should competitors on the market. of limitation of his or her earning to capitalize such results at its own clarify this matter when they con- An earning activity is com- activity. discretion, since September 1, 2011, clude an agreement on a non-com- petitive if its performance by the the Labour Code has allowwed petition clause. They should specify employee is tied to the same region What are the possibilities for the employer and the in the clause which (territorial area) in which the former terminating the agreement and employee to agree in the activities, due to their employer also carries out the activi- what is the sanction for its breach? employment contract competitive character, ty. If the place where the object of The non-competition clause may that the employee will must not be performed the activity is carried out by the for- be terminated independently of the not, for a maximum by the employee after mer employer differs from the place termination of the employee‘s em- period of twelve months termination of employ- of earning activity of the employee, ployment. The employer may after the termination of ment. The scope of they do not compete with each terminate it by written withdrawal his or her employment, business of an employer other on a territorial basis;therefore, only during the employee‘s employ- perform an earning who is a legal entity can the employee‘s activity cannot be ment when the employer ceases to activity that is in com- generally be ascertained regarded as competitive. insist on the arising obligation. The petition with the Mgr. Andrej Guba, LL.M. from the extract The activity of employee is entitled to employer‘s activity. from the Commer- an employee who is terminate the non- By concluding a non-competition cial Register of the Slovak Republic, a shareholder, executive competition clause only clause, the employee agrees to not the object of activities of a person director or member of after the termination of use ordinarily unavailable informa- doing business under a trade license the supervisory board in his or her employment, tion and knowledge acquired by from such a trade licence and the a company is considered either by payment of the the employer that is capable of object of activities of persons doing to be an earning activity amount agreed upon conferring a significant competitive business under special legal regula- if he or she participates with the employer in the advantage on a competing entity, tions. The non-competition clause (except for exercising employment contract, for the employee himself/herself or may be agreed in a manner that the his or her rights and or by written notice if for another entity competing with employee‘s earning activity may not obligations arising Mgr. Simona Horáková the employer has failed the former employer after the ter- coincide with the scope of business solely from his or her to pay the monetary mination of employment. The most of the former employer in whole or shareholding in the company) in the compensation to the employee frequently asked questions related in part. company‘s object of activities defined within 15 days of its maturity. The to the prohibition of competition Given that employers often have by the scope of business registered Labour Code, under penalty of after termination of employment a number of objects registered in the in the Commercial Register, even if invalidity, requires a written form have been answered by employment Commercial Register or in a trade the company does not carry out an for both withdrawal and notice of law specialists from the law firm license, a restrictive interpretation activity identical to the object of the termination. SOUKENÍK – ŠTRPKA, s. r. o. – should be applied to the limitation employer‘s activity temporarily or If the employee commences Senior Associate, Andrej Guba and of earning activity. The restriction permanently. The earning activity a competitive activity despite a con- Junior Associate, Simona Horáková. is justified only in respect of the is not the ownership of shares or cluded non-competition clause, the activity actually carried out by the equity contribution in a company employer is entitled, if they so agreed What is a competitive activity previous employer, since it cannot unless they are connected with the in the employment contract, to and what is the scope of its be competed in relation to the performance of work. demand payment for breach of this definition? activity the employer does not carry obligation. However, the amount of A competitive activity is the pur- out at the relevant moment. If the Is the employee entitled to monetary sanction may not exceed suit of a post-employment activity by employee carries out an earning a monetary remuneration for the the amount of monetary compensa- an employee on the basis of another activity after termination of employ- conclusion of the agreement? tion that the former employer was employment relationship, as well as ment on the basis of an employment The non-competition clause obliged to provide to the employee the pursuit of a business activity (as relationship, the identity/similarity is a reciprocal commitment after his or her termination of a self-employed person, shareholder, of the earning activity is assessed in in which former employment employment. member of a statutory or supervisory relation to the object of activity of relationship participants provide It is necessary to assess whether body in one of the legal forms of the new employer, not in relation each other with economic benefit. the employee pursues an earning companies, in a state enterprise or to the type of work specified in the Since the employer limits the activity which is competitive (even in a co-operative, if his or her par- employee‘s employment contract. employee‘s constitutional right to in part) with the object of the ticipation therein is also connected The employer‘s object of activity is earning activities for a certain period employer‘s activity on a case-by-case with the performance of work), in therefore identical for all its employ- of time, the Labour Code grants basis, taking into account the specific order to achieve property benefit, ees, no matter what type of work the employee, towards his or her circumstances of the case. When i.e. remunerated earning activity or they carry out for the employer. If former employer, the right to receive agreeing on the scope of the non- activity normally associated with after the employment termination remuneration for that limitation competition clause, caution must be the provision of remuneration. It is the employee does business in the in the form of adequate financial taken to ensure that the employer irrelevant whether the employee has same object as his or her previous compensation. The former employer and the employee are equal in their actually benefited from the pursued right to earning activities, and that activity; the decisive factor is the their mutual rights and obligations employee‘s will and active activity under the non-competition clause towards its achievement. are balanced. www.akss.sk

SP019042/002

Soukeník_2_PR_2019.indd 1 12. 11. 2019 14:31:44 74 Labour market Labour market 75

Employment relations in Slovakia EMPLOYMENT CONTRACT In addition to these, two basic SICK LEAVE employer terminates an employee Job portals & HR companies in Slovakia Working relations must forms of employment contract, In the event of a tempo- on the basis of redundancy, the Job portals Start Group: www.startgroup.sk always be based on a written there are other agreements rary sick leave, an employee is employer is not allowed to fill www.brigady.sk; www.job.sk; www.jobagent.sk; SYNERGIE Slovakia: www.synergie.sk employment contract with at which can serve as the basis for entitled to sickness insurance the same position during the www.kariera.zoznam.sk; www.profesia.sk Trenkwalder: www.sk.trenkwalder.com least two signed copies – one for employment relations in an benefits only beginning from following two months. TRIGON Consulting: www.trigon-consulting.sk the employer and one for the agreement on performing certain the 11th day of the leave, at 55 Immediate termination of HUMAN CAPITAL CONSULTING employee. In the contract, the tasks; an agreement on working percent of the daily assessment an employment relation. CPL Jobs: www.cpljobs.sk EXECUTIVE SEARCH FIRMS FBE Bratislava: www.fbe.sk employee commits himself or activity; and an agreement on basis. Until that point, the em- The employer is entitled Amrop - Leaders For What´s Next: www.amrop.sk Human Dynamic Central & Eastern Europe: Arthur Hunt: www.arthur-hunt.com herself to performing the tasks seasonal work for students. ployee is entitled to an income to do so if the employee was www.humandynamic.sk Blechova Management Consulting: defined by the employer, and An agreement on performing substitute as defined by the law. sentenced for committing a crime Jenewein Group: www.jeneweingroup.com www.blechovaconsulting.sk the employer commits to paying certain tasks can be signed The income substitute is or for severely violating working Libellius: www.libellius.com KINGFISHER Executive Search: wages for the performed work. between an employer and a natural paid by the employer from the rules. An employee can termi- Manuvia SK: www.manuvia.com www.kingfisherexecutive.com Maxman Consultants: The contract must contain person, provided the performance first day until the end of the nate a contract immediately for MENITY GROUP: www.menity-group.com www.maxman-consultants.com Menkyna & Partners Management Consulting: at least the following conditions of the tasks stated in the contract temporary sick leave, up to personal health reasons, if an Mercuri International: www.mercuri.sk www.menkyna.com th and provisions: job description, does not exceed 350 hours in the 10 day. For the first three employer does not pay the salary, TRIGON Consulting: www.trigon-consulting.sk Pedersen & Partners: location of the work, the starting a year. days, it is 25 percent of the daily or if the employee’s life or health www.pedersenandpartners.com date, the amount of the salary and An agreement on working assessment basis and from the is at risk at work. RECRUITMENT AGENCIES TARGET Executive Search Slovakia: the date it is paid, the working activity can serve as a basis for fourth until the 10th day, it is 55 Termination of the fixed- ADECCO Slovakia: www.adecco.sk www.targetexecutivesearch.com BALANCED HR: www.balanced-hr.com Teamconsult SR: www.teamconsult.sk term employment contract hours, the number of days off performing work not exceeding 10 percent of the daily assessment is DRAFTCOM: www.draftcom.com and the notice period for the hours per week. basis. In order to receive the in- automatic after the term passes Grafton Slovakia: www.grafton.sk TEMPORARY ManpowerGroup Slovensko: termination of the contract. An agreement on seasonal come substitute, the employee is if the contract is not extended. HRC Slovakia: www.hrconsulting.sk EMPLOYMENT AGENCIES www.manpower.sk work for students Terminating an employ- HRQ services SK: www.hrqgroup.com can be required to provide confirmation Arios - human resources: www.arioshr.sk Manuvia: www.manuvia.com TYPES OF EMPLOYMENT signed between employers and of temporary sick leave. ment contract in the proba- Lugera & Maklér: www.lugera.sk Proact People Slovensko: www.proactpeople.sk Manuvia Expert Recruitment SK: www.manuvia.com EUROTRADE - SR: www.pseurotrade.sk CONTRACTS tionary period SYNERGIE TEMPORARY HELP: a natural person who is a student. can be done by Neumann Consulting: www.neumannconsulting.sk HRQ SK: www.hrqgroup.com Slovak law allows employers This contract can be used for TERMINATING AN either party for any reason. INDEX NOSLUŠ: www.indexnoslus.sk www.synergie.sk Pro HR: www.prohr.sk Work Service Slovakia: www.workservice.eu.sk and employees to agree upon performing tasks that do not A mass layoffis when an LUTO Automotive: www.lutogroup.com one of two basic types of job require, on average, more than EMPLOYMENT employer issues termination contracts: half of the standard weekly RELATIONSHIP notices or agrees on the termi- Fixed-term employment working hours and the agreement By mutual agreement nation of employment relations contract is limited to up to two must be accompanied by proof between the employer and the with 10 or more employees (or years. The fixed-term contract that the employee is a student. employee. 10 percent or more of the total can be prolonged or renewed, A termination notice workforce depending on the but only twice within two years. These three types of from either the employer or size of the company) within Employment contract for agreement must be in written the employee. In the case of a 30 day period. unlimited does not state a fixed form and be signed in order to the employer, the reason must Source: www.socpoist.sk period for the contract’s validity. become valid. be stated in the notice. If an www.employment.gov.sk

rules and be reliable partners. The typical Slovak features doing business in Slovakia? A: Slovak companies have FAQ: Dealing with Slovaks used to be low self-confidence, lower acceptance of risk, come a long way in respecting ethical standards in recent The answers were prepared based on the responses of lack of a global dimension in business, focus on content years. They realise that damage to reputation is hard to Dana Blechová (managing partner, Blechova Management rather than attractive presentation and low flexibility to repair in business. Many companies have come up with Consulting); Luboš Sirota (chairman of the board, McROY move for business. With the new generation now arriving codes of ethics. Companies do not tend to harm their Group); Marek Chrastina (managing partner, TRIGON to business, this is changing. There are no specific traditi- clients and keep contracts and agreements. Consulting); Sergio Duarte (country manager, Adecco ons about structure or phases of business negotiations the Q: What are the specifics of the Slovak labour market Slovakia); Martin Marek (managing partner, Balanced way we know it from Asia. Slovak companies are generally that foreigners might find surprising? A: Generally fore- HR), and Ivana Molnárová (executive director, Profesia). seen as producing good quality and being consistent in ign employers are satisfied here. The qualities they value Q: What should I expect when communicating with keeping agreements. about Slovaks include the willingness to work hard and Slovak partners? A: Slovaks want to create and maintain Q: How do Slovaks react to changes? A: The older return good results. On the other hand, they often have good relationship with their business partners, in the long generation is more cautious and loyal to employers or to cope with Slovaks’ lacking initiative and willingness to run even friendship. But even after many years of coope- business partners, while the young generation is much more have their say in business issues. Foreigners also note the ration you should not expect complete loyalty, especially if self-confident, flexible, and not easily scared by changes. lack of openness in communication and willingness to take your Slovak business partner is offered a much lower price Q: What are the specifics of corporate culture in Slovak responsibility among Slovaks. from the competition. Slovaks are not always punctual for companies? A: Most companies are struggling with Q: What should I expect from Slovaks as employees? meetings. Slovaks without international experience might introducing some official corporate culture, like clear vision A: Slovaks tend to maintain informal and even friendly have problems to create an equal partner relationship, and mission of the company, and many haven’t managed to relationships with their colleagues at work. They need often lack healthy self-confidence and a global viewpoint, do so yet. Those tend to act ad hoc and spontaneously when good atmosphere and interpersonal relations, and they or even communication skills. Slovaks are not always dealing with a problem. There are still companies where the talk about their private matters at work. This might affect politically correct and diplomatic, and are not masters of pre-1989 culture is felt, or some where the specifics of the the productivity of their work sometimes. They are also small talk. Due to the specifics of the Slovak business en- 1990s persist. But nowadays most companies have already vironment, local companies tend to be over-cautious and emotive when it comes to feedback, and find it difficult achieved a professional level where owners respect and not to take critical feedback personally. On the other suspicious towards new business partners. They are used value their people and the employees in turn respect and to dealing with their issues “unofficially”, relying on perso- hand, they are ready to work long hours if needed and value their customers. return good results. They tend to be less assertive and are nal contacts. They might take longer to build mutual trust. Q: What ethical principles do Slovaks adhere to while In general, however, Slovaks are ready to adjust to the new unlikely to fight for their employee rights. SP019106/001 76 Labour market Labour market 77

The surcharges for work during wage, approved ahead of the Febru- holidays increased to 100 percent. ary 2020 general election. The min- Recession could affect job market. In Dobruľubov’s opinion, the imum monthly wage will increase change in surcharges may result in from the current €520 to €580 as a partial rationalisation of produc- of January 2020, the biggest hike No disaster expected tion since companies will try to in 17 years. he dropping unemploy- detailed proposals revolve around the bank’s medium-term forecast, Labour productivity went up avoid night shifts. The lowest hourly earnings ment rate continues to be the minimum wage and changes to as quoted by the SITA newswire. by only 1.1 percent in the second “Yet, there are sectors that will, therefore, rise from the current the cause of grey hairs for surcharges, others introduce a flex- The prediction has not quarter of 2019, according to the will see increased costs, which will €2.989 gross to €3.333 gross. The Temployers. The fight for qualified ible working time, and a digital tax. been reflected in an unemploy- European statistics office, Euro- reflect in the prices of products, like Labour Ministry estimated the workers is pushing up salaries, Martin Hošták, secretary of ment increase yet. The registered stat. Employers in Slovakia see in the bakery industry,” he added. number of employees whose salary pushing companies to come up the National Union of Employ- unemployment rate in Slovakia ac- a problem in Slovakia posting the Compared with 2017, the food is to rise, totally or partially, at with various strategies to maintain ers (RÚZ), perceives the measures counted for 4.97 percent at the end EU’s second highest growth in unit industry indeed saw labour costs about 191,000. staffers. positively. of August 2019, at the same level as labour costs in the second quarter, rise by 67 percent in the case of The increase in the mini- tasr

Yet, the signs that the economy “The problem is that their in June and July. In annual terms, at 7.8 percent, the Sme daily Saturday work and by 137 percent mum wage was proposed by the will grow at a slower pace suggest implementation is planned for the it fell by 0.45 percentage points, reported. for Sunday work, 17 percent government, after the trade unions Source: that this may change soon, af- next year or the year after, which is according to data of the Central Meanwhile, observers note that for work on holidays and by 45 and employers failed to reach an impact,” she told The Slovak volume in companies,” she added. fecting both salary hikes and the very late,” he said. Office of Labour, Social Affairs and unlike the previous years, the aver- percent for night work, Hošták agreement. The Confederation of Spectator. The most impacted will be small employment rate, observers say. Family (ÚPSVaR). age salary will not increase at such confirmed. Trade Unions (KOZ) advocated an and medium-sized companies as “Slovakia’s labour market is in Jobless rate stagnates “It’s not easy to comment on a high pace in the coming years. “Regarding the upcoming increase in the lowest gross earnings Crisis might not be as bad as before well as firms that are not in a good good shape,” Alexej Dobroľubov In the second quarter of 2019, this development,” said Labour While the growth rate increased economic slowdown, it is re- to €607.80, whereas employers The measures such as higher economic condition. These are of the Employment Institute told the growth of Slovakia’s economy Minister Ján Richter (Smer) at the from 4.2 percent in 2016 to 8.1 ally a significant increase in costs demanded a minimum wage of surcharges or the increase in the mostly those situated in economi- The Slovak Spectator. He does not slowed down to 1.9 percent year- September 20 press conference, as percent in 2018, the trend is expect- which, in the case of a crisis, will €552.20. minimum wage will bring a nega- cally weaker regions with a higher expect the predicted drop in eco- on-year, the slowest annual growth quoted by SITA. The employment ed to change in 2019. However, the be hard to reflect in prices,” he told Since the minimum wage is tive impact when the situation in unemployment rate, according to nomic growth to have a significant since the second recession wave dynamics weakened in the previous growth will still remain relatively The Slovak Spectator. linked to the recently introduced the economy worsens, since the Filová Špániková. impact on the labour market. within the eurozone in 2013. To months, he added. high, amounting to 6-8 percent, Food producers cannot adapt surcharges, there is risk if approved companies will reassess the use of Dobroľubov stresses that the Representatives of employers, compare, in the first quarter of the Tatra Banka analyst Juraj according to a recent salary survey or modify their production pro- in an ill-considered way, accord- every single euro, Filová Špániková intensity of the upcoming recession who have been critical towards year, the GDP rose by 3.7 percent Valachy expects the jobless rate to carried out by Grafton Slovakia. cesses to avoid higher surcharges, ing to Miriam Filová Špániková, said. remains unclear. Nonetheless, the recent labour market policies y-o-y, the Statistics Office data stagnate at around 5 percent in “We expect the salary increase he explained. spokesperson of the Federation of The problem is that companies companies active in automotive applied by the government (the shows. September, too. to amount to 5 to 7 percent in Apart from increased costs, Employers’ Associations (AZZZ). are already restraining investment and other industries will not need surcharges for night, holiday and The National Bank of Slovakia The number of available 2020, while the salary differences higher surcharges interfere with She stressed minimum wage should in their own development since as many staffers as they do now. weekend work and a big hike in the (NBS), the country’s central bank, jobs increased to nearly 95,000 between Slovakia’s regions will be the motivation systems and make not be a political topic, but that it they use the money to finance the “However, we still can’t predict minimum wage passed in October) eventually echoed the predictions in August, while the number of gradually wiped out,” said Miroslav planning in companies harder, should be considered based on real new measures. that the recession will be as strong met with PM Peter Pellegrini, who of analysts, confirming in late unemployed ready to take up jobs Garaj, country manager of Grafton Hošták said. economic and social parametres. “It’s very probable that the as in 2008-2009,” he added. “We promised to draft measures to September that economic growth immediately amounted to 137,000. Slovakia. “Its unfounded and dynamic economic slowdown combined do not expect the unemployment help businesses in times of slower may decelerate down to 2.5 percent “Big regional differences – jobs Minimum wage according to gov’t increase combined with the sur- with high labour costs will result rate to rise as quickly as in those economic growth. in 2019, and to 2.4 percent the in central and western Slovakia Higher surcharges affect some Employers are also critical of charges linked to the minimum in an increased unemployment years.” Soon after the meeting, the following year. and unemployed in eastern and sectors the latest raise of the minimum wage may have a very negative rate and the reduced production By Radka Minarechová Economy Ministry introduced an “The Slovak economy is going southern Slovakia – prevent the One of the measures that action plan comprised of 42 meas- downhill, but there is no sign of an drop in the unemployment rate in increased employers’ costs was ures to support the business sector abyss at this point,” NBS Governor the future,” Valachy said, as quoted the hike in surcharges for night, and Slovak industry. The most Peter Kažimír said when presenting by SITA. weekend and holiday work, intro- duced in two phases in May 2018 Salaries at a record high, on average and May 2019. Since night and Meanwhile, Slovakia broke weekend surcharges are calculated a record when the average monthly as a share of the minimum wage, salary in the national economy the constant government pressure amounted to €1,101 in the second on increasing the minimum wage quarter of 2019, according to the also means an increase in these Statistics Office data. surcharges. This is an increase of 9.7 per- Surcharges for night work cent year-on-year, and an analysis increased from 20 to 40 percent of by UniCredit Bank stated it has minimum wage as of May 1, 2019. reached an 11-year high. Night surcharges for work involv- Labour market observers, how- ing risk increased to 50 percent.

ever, warn that salaries have been The weekend work surcharge SP019096/001 tasr

growing much faster than labour went up to 50 percent for Satur- productivity over a long period. days and 100 percent on Sundays. Source: 78 Labour market Labour market 79

Basic information about Slovakia’s regions Unemployment rate by education in 2Q/2019* 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 31.12.2018 5,450,421 659,598 563,591 585,882 676,672 691,368 647,874 825,022 800,414 Unemployed 155,000 (100%) 8,400 (100%) 13,800 (100%) 8,900 (100%) 16,000 (100%) 15,200 (100%) 26,600 (100%) 37,300 (100%) 28,800 (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 49,600 (32%) 2,200 (26.2%) 2,500 (18.1%) 1,600 (18.0%) 2,400 (15%) 1,400 (9.2%) 9,700 (36.5%) 19,000 (50.9%) 10,800 (37.5%) Share of Slovak GDP creation 2017 100.00% 27.96% 11.22% 8.96% 10.93% 10.84% 8.82% 9.06% 12.21% Secondary without A level 42,800 (27.6%) 2,000 (23.8%) 6,200 (44.9%) 2,900 (32.6%) 5,400 (33.8%) 6,200 (40.8%) 5,200 (19.5%) 6,600 (17.7%) 8,200 (28.5%) Source: Statistics Office of the Slovak Republic Secondary with A level 47,200 (30.5%) 2,300 (27.4%) 4,200 (30.4%) 3,100 (34.8%) 6,800 (42.5%) 5,300 (34.9%) 8,600 (32.3%) 9,300 (24.9%) 7,600 (26.4%) University 15,500 (10%) 1,900 (22.6%) 1,000 (7.2%) 1,200 (13.5%) 1,400 (8.8%) 2,300 (15.1%) 3,100 (11.7%) 2,400 (6.4%) 2,200 (7.6%) 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 2019 €1,062 €1,339 €999 €980 €870 €937 €906 €805 €981 Economically active population by education in 2Q/2019* Avg. nominal monthly wage 2018 €1,013 €1,272 €952 €951 €832 €911 €859 €775 €929 Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Slovakia Avg. nominal monthly wage 2017 €954 €1,200 €890 €895 €789 €855 €807 €734 €869 Region Region Region Region Region Region Region Region Economically active population 2,724,900 (100%) 358,200 (100%) 288,300 (100%) 298,100 (100%) 340,300 (100%) 342,500 (100%) 328,500 (100%) 396,700 (100%) 372,300 (100%) Monthly wage costs per employee 2017 €1,492 €1,894 €1,411 €1,397 €1,297 €1,352 €1,272 €1,204 €1,374 Elementary and without education 161,100 (5.9%) 11,200 (3.1%) 18,900 (6.6%) 9,100 (3.1%) 20,700 (6.1%) 9,000 (2.6%) 26,500 (8.1%) 38,500 (9.7%) 27,200 (7.3%) * 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 636,800 (23.4%) 40,200 (11.2%) 80,500 (27.9%) 96,200 (32.3%) 88,000 (25.9%) 92,300 (26.9%) 72,300 (22%) 87,700 (22.1%) 79,600 (21.4%) Secondary with A level 1,213,700 (44.5%) 139,200 (38.9%) 122,400 (42.5%) 133,000 (44.6%) 156,600 (46%) 163,700 (47.8%) 152,700 (46.5%) 179,400 (45.2%) 166,800 (44.8%) Average monthly wage in 2018 based on the National Classification of Economic Activities (NACE)* University 713,300 (26.2%) 167,800 (46.8%) 66,500 (23.1%) 59,800 (20.1%) 75,100 (22.1%) 77,500 (22.6%) 77,000 (23.4%) 91,200 (23%) 98,600 (26.5%) 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 €1,171 €1,532 €1,114 €1,094 €1,034 €1,088 €1,023 €928 €1,110 A Agriculture, fishing & forestry €978 €1,066 €1,069 €1,011 €1,040 €931 €947 €886 €891 B Mining and quarrying €1,202 €1,506 €1,501 €1,155 NA €1,204 €1,283 NA €1,040 Employment in sectors of economy in 2Q/2019 based on the National Classification of Economic Activities (NACE)* Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice C Manufacturing €1,236 €1,743 €1,260 €1,209 €1,131 €1,230 €1,037 €934 €1,278 Slovakia Region Region Region Region Region Region Region Region D Electricity, gas, steam supply €1,749 €2,315 €1,840 €1,634 NA €1,564 €1,471 NA €1,429 Economy total 2,569,900 (100%) 349,800 (100%) 274,500 (100%) 289,200 (100%) 324,400 (100%) 327,400 (100%) 301,800 (100%) 359,400 (100%) 343,400 (100%) E Water supply and waste €1,002 €1,250 €1,134 €904 €935 €1,029 €897 €843 €1,029 A Agriculture, fishing & forestry 71,600 (2.8%) 1,200 (0.3%) 7,400 (2.7%) 5,300 (1.8%) 15,400 (4.7%) 11,400 (3.5%) 13,400 (4.4%) 8,600 (2.4%) 8,800 (2.6%) F Construction €1,045 €1,355 €1,012 €1,027 €893 €1,049 €884 €841 €1,045 B Mining and quarrying 8,800 (0.3%) 500 (0.1%) 0 (0.0%) 3,200 (1.1%) 0 (0.0%) 1,500 (0.5%) 2,100 (0.7%) 900 (0.3%) 500 (0.1%) €1,100 €1,401 €989 €1,028 €995 €951 €983 €882 €931 G Wholesale and retail trade; Repair of motor vehicles C Manufacturing 628,900 (24.5%) 39,000 (11.1%) 84,900 (30.9%) 115,700 (40%) 85,800 (26.4%) 85,000 (26%) 62,400 (20.7%) 82,200 (22.9%) 73,800 (21.5%) H Transport and storage €1,074 €1,368 €1,045 €926 €888 €931 €970 €966 €996 D Electricity, gas, steam supply 28,900 (1.1%) 1,900 (0.5%) 5,800 (2.1%) 2,400 (0.8%) 7,400 (2.3%) 3,700 (1.1%) 2,100 (0.7%) 1,400 (0.4%) 4,200 (1.2%) I Accommodation, food services €700 €817 €667 €641 €547 €696 €741 €626 €679 E Water supply and waste 20,000 (0.8%) 2,000 (0.6%) 1,300 (0.5%) 1,900 (0.7%) 2,600 (0.8%) 2,400 (0.7%) 3,500 (1.2%) 3,600 (1.0%) 2,600 (0.8%) €2,060 €2,409 €1,283 €1,347 €1,170 €1,673 €1,537 €1,362 €1,774 J Information & communication F Construction 244,900 (9.5%) 23,700 (6.8%) 22,300 (8.1%) 24,400 (8.4%) 28,700 (8.8%) 46,200 (14.1%) 24,700 (8.2%) 47,800 (13.3%) 27,100 (7.9%) K Financial & insurance act. €1,880 €2,079 €1,374 €1,403 €1,341 €1,370 €1,449 €1,292 €1,417 G Wholesale and retail trade; Repair of motor vehicles 305,600 (11.9%) 39,600 (11.3%) 32,400 (11.8%) 30,700 (10.6%) 38,000 (11.7%) 34,200 (10.4%) 37,300 (12.4%) 49,900 (13.9%) 43,400 (12.6%) L Real estate activities €1,087 €1,541 €923 €944 €885 €883 €1,142 €885 €854 H Transport and storage 175,600 (6.8%) 33,000 (9.4%) 20,200 (7.4%) 13,100 (4.5%) 24,900 (7.7%) 19,800 (6%) 21,100 (7%) 17,200 (4.8%) 26,300 (7.7%) M Professional, scientific and technical activities €1,444 €1,736 €1,222 €1,176 €1,159 €1,079 €948 €1,005 €1,107 I Accommodation, food services 105,300 (4.1%) 11,800 (3.4%) 12,200 (4.4%) 10,900 (3.8%) 12,800 (3.9%) 18,500 (5.7%) 9,900 (3.3%) 15,300 (4.3%) 13,700 (4%) N Administrative & support services €861 €1,063 €935 €821 €660 €823 €740 €633 €870 J Information & communication 71,600 (2.8%) 26,400 (7.5%) 5,600 (2%) 3,900 (1.3%) 5,700 (1.8%) 5,700 (1.7%) 5,900 (2%) 4,100 (1.1%) 14,200 (4.1%) O Public administration, defence & social security €1,234 €1,554 €1,154 €1,148 €1,119 €1,181 €1,160 €1,074 €1,146 K Financial & insurance activities 52,500 (2%) 18,900 (5.4%) 3,900 (1.4%) 4,900 (1.7%) 4,800 (1.5%) 4,500 (1.4%) 7,000 (2.3%) 4,100 (1.1%) 4,500 (1.3%) P Education €992 €1,052 €985 €933 €988 €923 €952 €997 €1,045 L Real estate activities 15,000 (0.6%) 4,300 (1.2%) 1,600 (0.6%) 1,900 (0.7%) 1,000 (0.3%) 1,900 (0.6%) 1,900 (0.6%) 1,100 (0.3%) 1,400 (0.4%) Q Health and social work €1,137 €1,362 €1,043 €1,067 €1,106 €1,168 €1,098 €1,018 €1,100 M Professional, scientific and technical activities 89,400 (3.5%) 26,800 (7.7%) 10,500 (3.8%) 9,400 (3.3%) 8,100 (2.5%) 8,200 (2.5%) 8,200 (2.7%) 9,700 (2.7%) 8,500 (2.5%) R Arts, entertainment, recreation €938 €1,138 €844 €828 €781 €926 €856 €920 €838 N Administrative & support services 58,200 (2.3%) 9,100 (2.6%) 7,100 (2.6%) 4,200 (1.5%) 7,600 (2.3%) 7,000 (2.1%) 6,600 (2.2%) 6,800 (1.9%) 9,700 (2.8%) S - U Other €836 €1,027 €906 €859 €683 €841 €869 €554 €732 O Public administration, defence & social security 215,900 (8.4%) 33,600 (9.6%) 17,200 (6.3%) 20,100 (7.0%) 19,800 (6.1%) 17,700 (5.4%) 35,900 (11.9%) 36,900 (10.3%) 34,900 (10.2%) P Education 201,500 (7.8%) 33,300 (9.5%) 18,700 (6.8%) 14,700 (5.1%) 25,400 (7.8%) 30,800 (9.4%) 20,100 (6.7%) 31,900 (8.9%) 26,600 (7.7%) * collected through workplace method (estimation of wages of self-employed not included) Source: Statistics Office of the Slovak Republic Q Health and social work 198,500 (7.7%) 27,800 (7.9%) 14,600 (5.3%) 18,000 (6.2%) 25,600 (7.9%) 20,600 (6.3%) 31,200 (10.3%) 29,800 (8.3%) 31,000 (9.0%) Unemployment & economic activity rate in Slovakia’s regions in 2Q/2019* R Arts, entertainment, recreation 36,600 (1.4%) 10,900 (3.1%) 3,400 (1.2%) 1,700 (0.6%) 3,900 (1.2%) 5,100 (1.6%) 4,100 (1.4%) 2,700 (0.8%) 4,800 (1.4%) Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice S - U Other 41,200 (1.6%) 6,000 (1.7%) 5,500 (2%) 2,700 (0.9%) 6,700 (2.1%) 3,200 (1.0%) 4,300 (1.4%) 5,500 (1.5%) 7,300 (2.1%) 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 2,724,900 358,200 288,300 298,100 340,300 342,500 328,500 396,700 372,300 Unemployment rate 5.7% 2.3% 4.8% 3.0% 4.7% 4.4% 8.1% 9.4% 7.7% Unemployed 155,000 8,400 13,800 8,900 16,000 15,200 26,600 37,300 28,800 Employment in sectors of economy in 2Q/2019 Economically active population by education in 2Q/2019 Economic activity rate in % 59.3% 65.6% 59.8% 59.0% 58.3% 58.8% 59.4% 58.6% 56.2% 12.9% 5.9% * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic 24.5% 26.2%

Unemployment rate* 3.5% Bratislava Trnava Trenčín Nitra Žilina B. Bystrica Prešov Košice Slovakia Region Region Region Region Region Region Region Region 2.8% 2001 19.2% 8.3% 18.0% 13.4% 23.1% 18.9% 22.4% 22.7% 24.8% 23.4% 2004 18.1% 8.2% 12.5% 8.6% 20.3% 17.5% 26.6% 22.9% 25.2% 4.1% 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% 2007 11.0% 4.2% 6.5% 5.7% 10.7% 10.1% 20.0% 13.8% 15.9% 6.8% 11.9% 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% 10.6% 18.8% 16.2% 15.5% 2010 14.4% 6.1% 12% 10.2% 15.4% 14.5% 18.6% 18.6% 18.3% 7.8% 2014 13.2% 6% 12.4% 8.6% 11.9% 13.6% 18.3% 17.5% 15.6% 9.5% 2015 11.5% 5.7% 11.0% 7.2% 10.8% 10.3% 15.3% 16.8% 13% 7.7% 8.4% 44.5% 2016 9.7% 5% 8.5% 5.8% 8.7% 8.6% 13% 14.8% 11.4% n Manufacturing n Education 2017 8.1% 4.2% 5.9% 4.1% 6.4% 6.7% 12.2% 12.9% 11.1% n Wholesale and retail trade; Repair of n Transport and storage n 2018 6.5% 2.9% 5.1% 3.0% 4.7% 5.5% 9.6% 10.0% 10.1% motor vehicles Accommodation, food services n Construction n Agriculture, fishing & forestry Elementary and without education 2Q/2019 5.7% 2.3% 4.8% 3.0% 4.7% 4.4% 8.1% 9.4% 7.7% n Public administration, defence & social n Professional, scientific and technical Secondary without A level * data based on a labour force sample survey (LFS) Source: Statistics Office of the Slovak Republic security activities Secondary with A level n Health and social work n Other University Economy & business environment 81 Economy & business Slovak economy no longer defies global gravity environment Tight labour market and short supply of skilled workers results in a pay bonanza recent years, the Slovak economy seemingly defied this expansionary monetary policy and at Jaguar Land Rover’s recently economy has been doing global and European slowdown, prospective easing in fiscal policies completed factory in Nitra. Yet, extraordinarily well, maintaining a growth pace close within key global economies might new orders in the sector, minus 7 Inexceeding its potential by boost- to 4 percent. In the second quarter prevent a recession, but they will percent over a year ago in June and ing its share on the rising global of 2019, exports faltered and not really change the outlook. July vs a 48-percent increase at the markets, thanks especially to its GDP growth slowed to a mere 2 Our colleagues at Intesa Sanpaolo start of the year speak clearly of increased automotive capacities. percent. A particularly hard hit forecast the eurozone economy changing fortunes for the Slovak With global trade now stalling came from the declining demand will slow further in 2020, posting automotive sector. amidst rising protectionism, the for cars, a key segment of the 0.9 percent growth. The German value of Slovak exports, cars in Slovak export industry and also the economy is expected to grow by Resilience of domestic particular, are starting to decrease. dominant factor supporting recent a mere 0.5 percent. demand will be tested

Domestic demand, to be sure, will Slovak growth outperformance. As 40 40 Expected employment in industry Unlike external demand, 30 (% balance, seasonally adjusted) still contribute positively to overall a result, growth expectations for 20 20 domestic demand is still expanding. 10 GDP growth, as households 2019 have downshifted to around 0 0 All major components of domestic -10 continue to enjoy generous wage 2.5 percent from close to 4 percent, -20 demand contributed positively to -30- 30 gains. However, households are which was expected a year ago. -40 GDP growth in the first half of -50- 50 -60 also facing increasing uncertainty 5 2019. Going forward though, it Annual growth in % 199719971999 2001 2003 2005 2007 2009 2011 20132013 2015 20172017 Source: Statistics Office Source: about future income since declin- 4 will become increasingly challeng-

ing orders and rising labour costs 3 Automotive backbone ing to maintain the momentum. are now leading companies to 2 hit especially hard On the investment front, compa- 1 scale down investment and hiring – GDP – domestic employment The global slowdown has nies, to be sure, still operate at near 0 intentions. As a result, VÚB Bank 2011 20122012 2013 20142014 2015 20162016 2017 20182018 2019 a particularly deep impact on full throttle. Capacity utilisation in -1-1 is revising its growth expecta- the automotive industry, which manufacturing through the third -2-2 tions from 3.5 percent, which it Statistics Office Source: is highly cyclical. Moreover, the quarter remained at 88 percent, predicted for 2020 a year ago, to Outlook is marred automotive industry is now also far above the levels that historically 2 percent. Trade and currency dis- by global uncertainty undergoing a structural shift in motivated manufacturers to invest putes within the global economy The growth of Slovakia’s small, demand, away from traditional, in new machinery and equipment. also push the economic growth open economy very much depends fuel-fired cars to electric and hybrid However, the changed global forecast downward, but these fac- on global trade. And this, unfortu- vehicles. Both of these factors have outlook and declining new orders tors are rather unpredictable. nately, has come to a near standstill a discretionary negative impact will make managers think twice amidst unprecedented uncertainty on the Slovak economy, which is about historical rules. While gross Slovakia no longer immune over the global trade policy. Dis- heavily dependent on the automo- investments grew in the first half to economic slowdown putes between the US and China tive sector and specialises predomi- of 2019 by a formidable 9 percent Amidst rising protectionism in trade, technology and currency nantly in traditional fuel-fired car over a year ago, all of this growth and trade tensions, the global affairs appear to be escalating rather production. was due to inventories and not economy has slowed significantly than easing over time. As we write Uncertainty in the automotive investment in capital. As a result, over the past year. From 3.6 per- this outlook in autumn 2019, trade sector, moreover, is amplified by a payback for increased stockpiles is cent growth in 2018, global GDP relations between the US and the trade disputes and threats of car likely later on. has slowed in 2019 to an estimated EU are also coming under pressure tariffs, especially from the US. As Households are enjoying a pay 2.6 percent. In the eurozone, due to disagreements over indus- detailed on this page a year ago, bonanza amidst the tightening 2019 growth expectations have trial policy in the aviation industry Slovakia is the EU’s most exposed labour market and short supply of downshifted from 1.7 percent, along with uncertainty related to country to the US car market and skilled workers. The average gross forecast a year ago, to 1.1 percent. the exit of the UK from the EU. thus would also be hit dispropor- wage in the second quarter grew Slovakia’s main trading partner, Amidst these global risks, tionately hard should a 25-percent 10 percent over a year ago, the Germany, is now at its weakest the hopes of a reacceleration of tariff be raised. fastest clip in over a decade. This economic phase since 2013, having growth in 2020 become increas- For the time being, the nega- bonanza will not last forever. The slipped in mid-2019 at the brink of ingly distant. The baseline scenario tive impact on the overall industry hiring intentions of employers and a technical recession. is that global growth will remain has been to a large extent offset by job vacancies abate as order books Until the spring, the Slovak sluggish, as in 2019. A return to an the rollout of new car production get thinner and labour more costly.

Photo: www.dreamstime.com 82 Economy & business environment Economy & business environment 83

Households, aware of these trends to slow amidst rising household and the uncertainty they create for indebtedness. Slovak households their future income, are spending became the most indebted in the Chip developer: Slovakia will hold less and saving more for the future. central and eastern European The growth of private consump- region. Some age segments in tion in the first half of the year thus Slovakia even exceed the EU aver- a prominent position in AI slowed to 1.5 percent, half the pace age in terms of household debt. ver since he emigrated to produced in Tachyum’s Bratislava seen in 2018. Gross savings, by To prevent a build-up of financial the United States, Radoslav subsidiary, while the chip as such contrast, grew by a hefty 40 percent stability risks, the central banks Danilák has been hoping will be fabricated by TSMC in over a year ago in the first half, on thus intervened and capped access Efor the day he could repay Slova- Taiwan. top of their 9 percent growth in of debt-stretched households to kia for the contribution it made to “Tachyum is the only startup 2018. new housing loans. They will likely his success abroad. we know of, which is contracted The housing market could also continue tightening the measures “With Tachyum and Prodigy, directly with TSMC,” Danilák said. experience a change in fortunes. in the future. that day has finally arrived,” said For this purpose, the cabinet The stock of housing under The public sector, to be sure, Danilák, whose Tachyum company approved the proposal to provide construction rose to the highest in could help bridge the economic has been developing the Prodigy Tachyum’s Slovak subsidiary with modern history, but the new supply down-cycle and accelerate its microprocessor with high perfor- a repayable loan of €15 million to stopped growing. The number of investment spending, especially mance and low energy consump- develop the processor at its March

new housing units actually dropped now, as we move toward the later Jaguar Land Rover Source: tion that is three times cheaper than 2019 session. in the second quarter by nearly part of the current seven-year EU has officially been abandoned and, of EU funded projects, even if the best chip on the market used by The interest rate for the instal- 11 percent from last year’s levels. programming period. However, according to the fiscal watchdog, the government is able to save the operators of data centres. ment was set to 4 percent p.a., A decline in the prospective supply the space to do so appears limited. the budget outcome will most a lot on debt servicing costs. The Prodigy Universal Proces- while the payback period is 10 of new housing is due to several The slowing economy has namely likely be a deficit of 1.2 percent of Similar to most other eurozone sor chip, the world’s first “universal years. The money is expected to causes such as steep property prices, deprived the government budget GDP. For 2020, to comply with countries, Slovak yields have also processor”as Danilák described it, be used for the establishment of

a lack of suitable lots, slow building of a substantial part of forecast EU rules, the government is due been impacted negatively, which will be developed in Slovakia. tasr a research centre. permits etc. Demand, however, also revenues, already pre-empted by to present a budget accounting for will most likely continue for the “The R&D centre in Bratislava appears to be affected by the devel- hefty social spending ahead of a 0.5 percent GDP gap at most. foreseeable future. Years-long career in the field Source: will be responsible for the tape-out opments on the mortgage market, 2020 parliamentary elections. The This leaves no room for extra Zdenko Štefanides, Danilák has more than 25- for Emerging Company Executive “Prodigy architecture requires of the final design for Prodigy,” which the central bank is trying plan of a balanced budget in 2019 fiscal stimulus or co-financing chief economist at VÚB Banka year experience in the electronics of the Year. only one-tenth the number of tran- Danilák said. industry designing state-of-the-art He then founded Tachyum in sistors required for a Xeon core,” Basic statistical data - Slovakia & the European Union processing systems and owns over 2016, to disrupt markets by solving he continued. “With more than A proud Slovak Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary 100 patents. the processing performance plateau 10-times fewer transistors, the aver- Moreover, the Bratislava opera- Population 1.1.2019 (mil.) 341.93 513.48 83.02 5.45 37.97 10.65 9.77 Born in eastern Slovakia, he of nanometer class chips. age wire length connecting them is tion will be engaged in advanced GDP Percentage change 2017 / 2018 1.9% 2.0% 1.5% 4.0% 5.1% 3.0% 5.1% Unemployment (%) in September 2019, seasonally adjusted 7.5% 6.3% 3.1% 5.6% 3.3% 2.1% 3.4% graduated from the Technical Uni- Apart from his activities in the less than half the length in Prodigy AI solutions development, which Annual inflation (%) in September 2019 0.8% 1.2% 0.9% 3.0% 2.4% 2.6% 2.9% versity of Košice (TUKE), where US, Danilák serves on the Slovak compared to competing products, will create additional revenue Source: Eurostat he gained a PhD in Computer government’s Innovation Advisory resulting in faster clock speeds.” streams for Tachyum in Slovakia. GDP - Slovakia & the European Union Science and an MS in Electrical Board and is a member of the IDC Thanks to its design, data cen- “I set up the corporate struc- Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary Engineering. Technical Computing Advisory tres can seamlessly and dynamically ture of Tachyum specifically to GDP per capita 2018 (€) 36,200 33,100 43,700 17,700 14,000 20,900 14,400 He went to the United States Panel and the Forbes Technology power up unused servers, which ensure that Slovakia would be in GDP per inhabitant in PPS, 2017, EU 28 = 100% 106% 100% 123% 77% 70% 89% 68% in 1998, and started working for Council, and is a contributor to comprise most of the data centre a prominent position to deliver and GDP per inhabitant in PPS, 2018, EU 28 = 100% 106% 100% 123% 78% 71% 90% 70% TechTarget. He also teaches com- server racks with no additional Source: Eurostat, World Bank, exchange rate USD/EUR used was the average of 2016 several companies focusing on the support the revolutionary Prodigy production of chips, like nVidia, piler courses at TUKE. capital expenditures. product, which will disrupt both Public finances & taxes - Slovakia & the European Union Nishan Systems, Toshiba and “This, by definition, makes AI and data centre markets in the Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary Gizmo Tech, before founding his A unique chip every Prodigy-powered data centre EU, and across the globe,” Danilák Government deficit in 2018 (%) -0.5% -0.7% 1.9% -1.1% -0.2% 1.1% -2.3% Government debt in 2018 (% of GDP) 80.4% 85.9% 61.9% 49.4% 48.9% 32.6% 70.2% own startups. Back in May 2018, the media an AI hub, offering Big-AI at low said. Total general government revenue 2018 (% of GDP) 46.5% 45.1% 46.4% 40.8% 41.4% 41.7% 44.4% Danilák co-founded and headlines were hit by the informa- cost to all,” Danilák said. When asked why he decided to Top statutory personal income tax rate (%) - - 47.5% 25.0% 32.0% 15.0% 15.0% served as the chief technical officer tion that Danilák and his team in In his opinion, the use of build an R&D centre for Prod- Corporate income tax rate (%) - - 29.9% 21.0% 19.0% 19.0% 9.0% of SandForce, acquired by LSI Silicon Valley had developed a chip Prodigy is “virtually unlimited”, igy in Slovakia, he replied: “I’m * arithmetic average (all members) Source: Eurostat, OECD in 2011 for $377 million. He that should be able to simulate from a bigger, more flexible a proud Slovak national who wants Labour Market - Slovakia & the European Union (Based on Labour Force Survey) pioneered enterprise and consumer the capacity of a human brain in onboard brain for self-driving cars, to give something important back Euro Area EU 28 Germany Slovakia Poland Czech Rep. Hungary MLC flash controllers and solved real time. Its production should be to enabling drones to perform to the country and culture that Employment rate 2018 (%) * 72.0% 73.2% 79.9% 72.4% 72.2% 79.9% 74.4% Unemployment rate 2018 (%) 7.0% 8.2% 3.4% 6.5% 3.9% 2.2% 3.7% the problem of endurance limited launched by 2020. onboard sensor fusion, to creating helped enable my success.” Long-term unemployment rate 2018 (%) 3.8% 2.9% 1.4% 4.0% 1.0% 0.7% 1.4% by device physics. Prodigy is unique, as it out- the next generation of intelligent In recognition of his contribu- Labour productivity in 2018 per person employed 106.3% 100.0% 104.5% 80.9% 77.4% 83.3% 69.3% He also founded Skyera, a sup- performs the fastest Xeon CPU robots. tions, he received a state decoration (EU 28 = 100, based on PPS series) The hourly labour cost in the business economy in 2018 (€)** 30.6 27.4 34.6 11.6 10.1 12.6 9.2 plier of ultra-dense solid-state stor- using 10-times lower power and from ex-president Andrej Kiska in The hourly labour cost in the business economy in 2017 (€)** 30.3 26.8 34.1 11.1 9.4 11.3 9.1 age systems, which was acquired by with a three-times lower sales price, A loan for R&D centre January 2019. Total nominal hourly labour cost in second quarter 2019 2.7% 3.1% 3.2% 10.6% 7.8% 8.0% 10.1% % change compared with same quarter of previous year WD in 2014. As its CEO, he won Danilák said in a recent interview Prodigy’s mask set, or the * rate is calculated by dividing the number of employed persons aged 20-64 years by the total population of the same age group , **estimation Source: Eurostat the 2013 Gold Tech Awards Circle with The Slovak Spectator. final design for fabrication, will be By Radka Minarechová 84 Economy & business environment Economy & business environment 85

together, its main role has been to Financing is a problem linked to financing. Currently, most conditions, may subsequently receive create a platform for subjects active Despite their huge potential, clusters are financed via member financial support for three-year Clusters: Untapped innovation potential in tourism to come together and people involved in the clusters com- contributions, which is the case with projects. 2007, there were less than promote the region both at home plain of a lack of state support. IT Valley Košice and SPK. According Ács expects the call for funding 1,000 people working in and abroad, explained Darina Bar- “I sometimes feel that we’re a bit to Ács, some clusters also receive EU to be announced towards the end of the IT industry in Košice, tková, executive director of Region forgotten in Košice,” Miroššay said. funds if they are involved in specific this year or in early 2020. InSlovakia’s second largest city, and Liptov, a destination management “Košice has great potential in the EU programmes. many young people were leaving organisation which is a successor of creative and IT industries, which is Tourism needs changes, too it to head either to the west of the the original cluster. why the cluster should be actively Changes may come soon Destination management country or abroad for work. One of their first projects was supported.” The Economy Ministry began organisations are currently eligible Today, there are more than the introduction of the Liptov Ikrényiová argued that there is providing financial support to for subsidies based on legislation 15,000 people employed in the Region Card, which offers various a lack of any systemic help from the clusters active in industry in 2013 governing support specifically for the sector, which plays a key role in the discounts for tourists to the region, state for clusters. through one-off subsidies to carry tourism industry. development of the wider Košice she told The Slovak Spectator. It was This may be down to the fact out non-investment projects focused Bartková welcomed some Region, thanks largely to the Košice also behind the launch of ski-buses, that there is little to no information on education, promotion, expert recent changes for the sector, such IT Valley cluster – a joint initia- which take people directly to the about them or what they do in state activities, and participation in inter- as lower accommodation tax and tive between local IT companies, popular Jasná ski resort from places policy documents, she said. Moreo- national projects. Meanwhile, SIEA the introduction of a scheme for tasr schools, and municipal and regional outside the area. ver, neither the state nor key regional has also been created to support companies to provide recreational authorities. Running the buses has helped bodies have shown any interest in cluster innovations. However, this is vouchers for employees, which she Source: “We’re trying to bring invest- accommodation rates at hotels and implementing a cluster strategy in not enough, said Ács. says help eliminate the illegal renting ments with added value to eastern concentrated in regions which spe- the European Commission, in 2015. three new technical specialisations guest houses in the surrounding their development plans. “The state doesn’t recognise the of accommodation. Slovakia,” Pavol Miroššay, executive cialise in a certain field. They usually It was also the first in central Europe at vocational schools this year – region, she said. “Slovakia doesn’t need a specific innovation potential of clusters for But there needs to be greater director of Košice IT Valley, told The involve companies, schools, research to receive the gold certificate. plastics processing operator, plastics Region Liptov also organises two strategy for clusters,” Ikrényiová said. Slovakia,” he added. synergy between destination Slovak Spectator. institutions, municipal or regional The cluster focuses on four processing technician and plastics important summer festivals to attract “It would be enough if clusters were Some changes may be coming management organisations and the authorities, and non-governmental main fields: community, education, processing specialist. more tourists to the region while simply included in regional develop- though. The Economy Ministry, state in focusing on developing new What are clusters? organisations linked by technology region, and companies. It organises “This change will contribute the organisation has also carried out ment programmes.” SIEA and cluster representatives tourist markets, in her opinion. Košice IT Valley, which recently and knowledge. meetings and conferences on various to the development of vocational various promotional campaigns and If clusters want to develop the met last year to begin working on “Tourism is a long-distance lured Norwegian IT company Visma The clusters can help companies topics, such as marketing, program- training in the field of plastics was responsible for the creation of quality of their management, they a new call for funding financed using run,” Bartková said. “It’s worth to the region to open a new business gain a competitive advantage in ming, and user experience, sharing processing and the improvement of the Visitliptov.sk website. need to be able to secure continuity. EU funds via the joint-ministerial investing in the sector though as it service centre in the city, which will both Slovak and foreign markets, the local IT community’s knowl- secondary vocational education as “We’ve managed to double the “That’s not possible without Operational Programme Research creates employment in non-indus- create nearly 200 new jobs, is just according to the Slovak Alliance for edge. a whole,” Ikrényiová told The Slovak number of visitors to Liptov during targeted and systemic support,” she and Innovation. trial areas.” one of several successful clusters ac- Innovation Economy (SAPIE). The cluster is also working to Spectator. the past 11 years,” Bartková said. added. It will be open to various types tive in Slovakia. Importantly, they also help stop a brain drain from the eastern The cluster’s activities include Other problems are closely of clusters who, after meeting the By Radka Minarechová A cluster is a group of inde- companies innovate. Slovak region, collaborating with preparing various seminars, promot- pendent companies and institutions “In today’s rapidly changing regional universities, including the ing of its members and their work, Continued from page 38 world, it’s impossible to act individu- Technical University of Košice and and helping make companies more The Relevans law firm, which leading court disputes. if it repeatedly finds discrepancies in significant amount of €166 Certified clusters ally,” said Daniel Ács, head of the the Pavol Jozef Šafárik University in competitive. They also run a large ranked second among the largest Soukeník – Štrpka, for a store, regardless of the gravity of million. in Slovakia Union of Slovak Clusters. “Coopera- Košice, and secondary schools. database of firms with more than law firms, advised the buyer in the instance, advises the Zero the error (like a forgotten package They have not specified the Golden certificate tion is necessary.” “I dare say we’re the only entity 20 employees focused on producing purchase of three shopping malls Bypass Limited consortium that of rice past its best before date). details, which is common with Košice IT Valley (Košice) Experience from other Euro- in Slovakia to successfully unite an and processing plastics, or who are in Spain worth €500 million. The is building the Bratislava ring The Ružička and Partners law references in the litigation area. Bronze certificate pean countries suggests that cluster entire IT sector, even though compa- involved in recycling. lawyers had entered this among road, namely stretches of the firm is advising the Hungarian These references tend to be vague 1. Slovenský strojársky klaster members are more innovative and nies compete with one another on SPK is also looking to connect their references in 2018, but back D4 highway and the R7 dual petrochemical MOL group in the interest of protecting (Detva) can adapt with greater flexibility to the labour market,” Miroššay said. companies and institutions focusing then the details of the transaction carriageway, in the arbitration in the expropriation of small clients. By Adam Valček Klaster AT+R (Prešov) Automotiv Cluster Slovakia changes than those acting individu- Another cluster, the Slovak on basic research with companies. were still unknown. against the Slovak Republic linked shareholders of the Bratislava- (Trnava) ally, he added. Plastic Cluster (SPK), focuses on “Our second big achievement It turns out that at stake was with this construction worth based Slovnaft refinery. It is the IT Valley (Košice) improving the quality of people has been facilitating cooperation the purchase of the following shop- €1.7 billion. Discrepancies arose first-ever squeeze out in Slovakia. Národný energetický klaster – NEK Education in focus working in plastics processing. between scientists from the Slovak ping malls GranCasa in Zaragoza, between the government and the It is probable that lawsuits will (Bratislava) About 56 clusters were registered Its activities involve cooperating University of Technology’s Faculty of Valle Real in Santander and Max concessionaire regarding the lands, follow, as the small shareholders Slovak Plastic Cluster (Nitra) BITTERAP (Košice) in Slovakia in various fields in 2017, with secondary vocational schools Chemical and Food Technology and Center in Bilbao, by the Slovak de- the speed of the work and what have already announced. MOL Elektrotechnický klaster – Západné with 16 having bronze and one gold as well as universities to support companies focusing on biodegrad- veloper Peter Korbačka of the J&T the state should be paying for. intends to pay them €85 per Slovensko (Galanta) certification, according to the data creativity and innovation among able materials,” Ikrényiová said. Real Estate group. Korbačka also Soukeník – Štrpka also repre- share, while they demand at least In Tech (Žiar nad Hronom) of the Slovak Innovation and Enegy students and graduates, explained owns shopping malls in Slovakia, sents an unspecified retail chain in €100. Z@ict (Žilina) Agency (SIEA). Katarína Ikrényiová, the cluster’s ex- Boost to tourism including Eurovea in Bratislava and a food inspection dispute regarding Among its references the Klaster Liptov (Liptovský Mikuláš) Klaster Orava (Dolný Kubín) IT Valley Košice has been ecutive director. Cluster Liptov, the first tourism City Arena in Trnava. the so-called million euro penalties. Relevans law firm entered that Klaster Horehronie o.o.c.r. (Mýto internationally recognised, it is the Through its activities the cluster cluster in the country, is another These are fines worth at least €1 it is “representing one of the pod Ďumbierom) only cluster in Slovakia to receive has been instrumental in prompt- success story. Arbitration over bypass million, which the law on food- most significant Slovak banks sme OOCR Dudince (Dudince) the Cluster Management Excellence ing the Government’s Council for Created in 2008 to bring lo- Several references in the top stuffs orders the State Veterinary in the dispute on determining Source: SIEA Label Gold certificate, granted by Vocational Education to approve cal municipalities and businesses 50 deals concern litigation, or and Food Administration to impose the legitimacy of claims” at the Source: 86 Economy & business environment Economy & business environment 87

ment company Focus Capital Group and Chinese investment Investment highlights group Weilong Enterprise, with its n November 2018 underground gas storrage facilities Nové Zámky-based Novofruct company with repayable financial headquarters in Shanghai. It should Žilina-based carmaker Kia Mo- in Inzenham – West, Wolfersberg SK announced a plan to produce aid of €15 million to develop a new help the company complete the tors Slovakia kicked off the produc- and Breitbrunn/Eggstätt in Ger- baby food with a special Halal processor. certification process and then kick tion of its newest model, the third many’s Bavaria region. certification for Muslim consumers. off the sale of its 4.0 version of the generation of the Kia ProCeed. Economic freedom in Slovakia All production should be exported n APRIL 2019 flying car. MiddleCap Real Estate Ltd. worsened slightly. It ranked 65th of to European and Arab markets. The Trnava-based carmaker Gestamp, a multinational sold New Stein, an office building 180 countries surveyed in the Index Bratislava-based carmaker Groupe PSA Slovakia launched the company specialising in on the former Stein brewery prem- of Economic Freedom (IEF), pub- Volkswagen Slovakia published its production of its first electric car in design, development and ises in Bratislava, to Prvý Realitný lished by The Heritage Foundation. plan to ax nearly 3,000 jobs by June Slovakia, Peugeot e-208. the manufacturing of highly Fond managed by IAD Invest- Slovakia scored 65 points, which is 2019. The Bratislava-based carmaker engineered metal components ments. Although they did not reveal 0.3 points less than the year before. Volkswagen Slovakia produced its for the automotive industry, the price, the companies claimed The U.S. Steel Košice steel- n March 2019 one-millionth Touareg. The record- opened its new plant in Nitra. An that it was one of the largest real works announced the intention to Slovak startup Cviker from breaking vehicle was produced for investment worth nearly €130 estate transactions in Slovakia for build a new line for the production Poprad (Prešov Region) signed a Polish customer. million will create almost 200 jobs.

2018. of non-grained oriented electrical a prestigious agreement worth The intention of the Swiss com- The Slovak government supported TASR) (Source: Mlynské Nivy in Bratislava steel, investing $130 million. Its $60,000 with JBG Smith, the real pany Mubea Automotive Slovakia it with a €9 million stimulus. Roechling Automotive, a Ger- firm in the top 10. The Bratislava- promising to draft measures to n December 2018 production capacity is expected to estate company focused on the to establish a new manufacturing man components supplier for the based Volkswagen Slovakia, how- help businesses in times of slower The Saudi-Arabian company be roughly 100,000 tonnes a year. Washington metropolitan area. It hall in Kežmarok (Prešov Region) n JULY 2019 automotive industry, opened a new ever, fell from the 5th to 7th position. economic growth. Sisban started building a brand The British retail chain Tesco will enable it to redraw the new was certified by the government The government greenlighted plant in Kočovce (Trenčín Region), The Centre of Development new logistics park near the village sold its department store in Kamen- quarter in Washington, D.C., as an important investment. The an action plan to transform the with the ambition of employing of Innovations, scheduled to open n OCTOBER 2019 of Chocholná-Velčice (Trenčín né Námestie square in the centre of where Amazon is to move its head- company plans to produce car com- Upper Nitra region after mining 240 people. The construction of by the end of the year in Lučenec There were 151 robots per Region). Sihoť Park will spread Bratislava to the Mirage Shopping quarters. ponents and set up an engineering in the area ceases. It counts on the new hall cost €12 million, while (Banská Bystrica Region), will 10,000 employees in Slovakia in over 160,000 square metres, while Center company of Žilina-based The Slovak financial group centre, investing €51 million in pouring about €3 billion into the investment in technologies has con- among other things develop a new 2018, according to the latest World investments are projected at €50 businessman George Trabelssie. The Proxenta joined forces with Con- total. region within about 200 investment sumed an additional €10 million. type of battery for cargo transport. Robotics report published by the million. sum of the transaction has not been fitería Caibarién to establish the projects. The government will support the International Federation of Robot- More than 1 million vehicles disclosed. first Cuban-Slovak joint venture. n MAY 2019 A new kind of blue cheese will n AUGUST 2019 centre’s construction with a subsidy ics. This is nearly twice as much as rolled off the carmakers’ produc- They will focus on the production Slovak companies are the least be produced by the dairy factory The Slovak branch of the Hun- of €140,000. the global average. tion lines in Slovakia in 2018. n February 2019 of sweets. disciplined firms in Europe when it Tami in Kežmarok (Prešov Region), garian OTP bank was put on sale. British carmaker Jaguar Land The government approved the Volkswagen Slovakia, Kia Motors Slovakia has lost the whole Slovak technology company comes to paying their invoices on with the company investing €15 There are reportedly three bidders Rover (JLR) introduced a new ver- increase in the minimum wage. It Slovakia, Groupe PSA Slovakia, and decade to improving the quality of GA Drilling signed a deal on time, the European Payment Prac- million. interested in purchasing the bank: sion of its iconic Defender, which will rise from the current €520 to Jaguar Land Rover produced more its business environment. Although financing worth €4.2 million tices study conducted by the EOS U.S. Steel Košice announced ČSOB bank, Tatra Banka and the will be exclusively manufactured in €580 as of January 2020. than 1,080,000 vehicles, which is there has been no rapid decrease, the with the investment firm Lead KSI company in 2018 suggested. a plan to reduce the number of Penta investment group. Nitra. Slovakia ranked 42nd of 141 the highest figure in the history of country did not report any significant Ventures. The latter invested in The data indicated that up to 27 employees working at the plant and Austrian company Miba an- The Brose Prievidza company countries surveyed in the 2019 Slovakia. rise either. In the Superindex ranking the former with the funds of percent of payments by Slovak its subsidiaries by 2,500 before the nounced an investment of €10 kicked off the construction of its Global Competitiveness Report, for 2018, published by the Business the MOL group and Hungarian firms came either late or not at all. end of 2021. million, to expand its capacities in third manufacturing hall, where published by the World Economic n January 2019 Alliance of Slovakia, it scored 80.9 Eximbanka bank. The Slovak company InoBat Vráble (Nitra Region). The invest- around 400 people will find a job Forum. With a score of 66.8 The Slovak company Nafta points, down by one position to 36th The cabinet approved a pro- n JUNE 2019 signed a contract with the Ameri- ment will create 80 new jobs. once it is completed. It will cost points out of 100, it worsened its completed the acquisition of place compared with 2017. posal to provide the Tachyum The German company BHS- can company Wildcat Discovery The Panattoni Europe indus- €50 million. position by one spot compared to Sonthofen announced its intention Technologies (WDT) concerning trial developer has launched the The oldest shopping mall last year. to build a new manufacturing plant cooperation on the development construction of a new eight-hectare in Bratislava, Polus City Center, The government approved an in the Záturecká industrial park in and production of batteries for industrial park near Košice airport, will be renamed Vivo! once its incentive of €2 million for German Haniska, near Prešov. It is expected e-cars. A new plant should emerge with a price tag of €30 million. reconstruction is completed. The carmaker Porsche to build a new to invest €10 million and employ in Slovakia in the second quarter of Immofinanz company from Austria technology centre, focusing on the 100 people. 2020, with an investment reaching n SEPTEMBER 2019 invested €25 million into the automatisation and robotisation of The HB Reavis developer has €100 million. The project was joined The Duslo Šaľa chemical facelift. car production, in Horná Streda sold Twin City Tower to the Valesco by the Matador Group. company stopped all investments Economy Minister Peter (Trenčín Region). Group, a real estate investment The Slovak arm of the German into its development due to high Žiga introduced an action plan The Czech PPF group, owned manager from London, and AIP system service provider Mühlbauer electricity prices and increasing comprised of 42 measures to sup- by Petr Kellner, signed an agree- Asset Management, an asset man- obtained a building permit for labour costs caused by governmen- port the business sector and the ment to acquire the current owner ager based in Seoul. The transaction the third construction phase of tal measures. Slovak industry. He did so shortly of private broadcaster TV Markíza, worth €120 million is the first real its factory in Nitra, adding a new Altogether 43 Slovak compa- after PM Peter Pellegrini met with CME, which operates TV stations estate investment backed by the building that should be completed nies appeared in the recent Coface the representatives of employers, in several countries. The transaction South Korean capital in Slovakia. by December 2020. The invest- CEE Top 500 list, up by two who had criticised the high work is estimated at USD2.1 billion. AeroMobil announced an ment, whose amount has not been compared with 2017. On the other surcharges and fast-growing mini- investment from the Israeli invest- specified, will bring 200 new jobs. hand, there was only one Slovak mum wage joint for all sectors, By Radka Minarechová Source:TASR 88 chambers of commerce consulting - finance and tax 89

Company (Listed alphabetically) www Chief executive officer Company (Listed alphabetically) www Chief executive officer Address Phone Phone Address Phone Phone

City, Postal code Fax E-mail City, Postal code Fax E-mail Ľudský kapitál E-mail E-mail

Názov (v abecednom poradí) Názov (v abecednom poradí) Adresa www Riaditeľ Adresa www Riaditeľ Mesto PSČ Telefón Telefón Annual membership fee Membership conditions Services and activities Mesto PSČ Telefón Telefón Other Major clients

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 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 slovenských / Počet zamestnancov / Počet Počet poradcov zahr. 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 American Chamber of Commerce in the Slovak 1 Ronald Blaško 1 Renaudit Paulína Paramonová premium listing Republic 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 Jasná 13 www.renaudit.sk +421(0)905 851-426 1991 15 audit of financial statements, accounting, Cikautxo, Koppert, Muehlbauer Techno- Bratislava - Staré Mesto 811 06 +421(0)2 5464-0534 ronald.blasko@ 330 general EUR850; NGO/Individual EUR500 king and advocacy trade and investment opportunities Nitra 949 01 +421(0)37 655-0281 paramonova@ 1 / 1 10 payrolls, legal consulting logies, Leder&Schuh, DS Smith Slovakia, l l [email protected] amcham.sk E, [email protected] renaudit.sk E, 0 Ansaldo Nucleare, MC-Bauchemie, Takko Fashion, SEC, Kärcher, Granvia 2 Austrian - Slovak Chamber of Commerce Mária Berithová 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 2 Accace k.s. Peter Pašek Bratislava - Petržalka 814 99 +421(0)2 6353-6787 berithova@ 182 Austrian connections networking; contacts and information for Mlynské nivy 16 - Twin City C www.accace.com +421(0)2 3255-3000 2002 100 accounting & reporting, payroll & HR NA [email protected] +421(0)2 6353-6788 sohk.sk E, G, members; publication; meetings; lobbying Bratislava - Ružinov 821 09 +421(0)2 3255-3000 slovakia@ 1 / 20 25 l l l l administration, tax advisory, corporate 3 Brazilian - Slovak Chamber of Commerce Milan Cigáň [email protected] accace.com E, G, NA and legal services Palisády 724/47 www.brazilslovakiacc.sk +421(0)2 3218-1409 2017 EUR350 NA NA 3 ACCEPT AUDIT & CONSULTING, s.r.o. Ivan Bošela Bratislava - Staré Mesto 811 06 +421(0)2 3218-1409 info@ 17 [email protected] brazilslovakiacc.sk E, P, Baštová 38 www.acceptaudit.sk +421(0)903 601-052 1995 19 audit, accounting, payroll services, wages NA Prešov 080 01 +421(0)903 601-052 ibosela@ 3 / 1 6 l l l l l and salaries, valuation of assets and 4 British Chamber of Commerce in the Slovak Republic Denisa Brighton [email protected] acceptaudit.sk E, F, N, G, R, Pl, 2 companies Mostová 2 www.britcham.sk +421(0)2 3266-1941 1998 EUR590 - EUR1,330 (depending on the application complete, board approval, inte- services for SK / UK business to enter the 4 ACCREDO s.r.o. Štefan Holeš Bratislava - Staré Mesto 811 02 +421(0)2 3266-1949 denisa.brighton@ 110 number of employees) rest in gaining UK and SK connections UK / SK market; business and social events; [email protected] britcham.sk E, partnership proposal; business promotion Partizánska 1078/1 www.accredo.eu +421(0)905 403-286 1992 5 NA NA Malacky 901 01 +421(0)905 403-286 holes@ 3 / 2 5 5 Canadian Chamber of Commerce Joseph Burza l l [email protected] accredo.sk E, R, Pl, NA Mariánska 12 www.cancham.sk +421(0)918 485-978 2001 corporate EUR1,000; associated EUR600; application form, board approval, mem- lobbying; contacts and information for Bratislava - Staré Mesto 811 08 +421(0)2 5293-2895 joseph.burza@ 64 individual EUR350 bership fee members; assistance to market entry 5 ASB Slovakia, s.r.o. Zuzana Kolárová [email protected] ksok.sk E, G, R, S, Laurinská 18 www.asbgroup.eu +421(0)2 5464-1187 2006 17 accounting, tax and payroll services, due real estate investors, private equity funds, 6 French - Slovak Chamber of Commerce Zuzana Desvergnes Bratislava - Staré Mesto 811 01 +421(0)2 5464-1187 zkolarova@ 1 / 4 NA l l l diligence projects and M&A, corporate retail clients Klariská 14 www.fsok.sk +421(0)2 5910-3411 1994 depending on the basic capital of the registration form, board approval assistance in business entry; networking [email protected] asbgroup.eu E, 0 services Bratislava - Staré Mesto 821 03 +421(0)2 5910-3411 desvergnes@ 145 company events; business breakfasts; seminars; speed 6 BDR, spol. s r.o. Ľudmila Svätojánska Kiňová [email protected] fsok.sk E, F, business meetings M. M. Hodžu 3 www.bdrbb.sk +421(0)905 689-598 1991 24 audit, tax advice, customs, corporate, NA 7 German - Slovak Chamber of Industry and Commerce Peter Kompalla Banská Bystrica 974 01 +421(0)48 470-0041 bdr@ 2 / 103 5 l l l l l financial consultancy, accounting, transfer Suché mýto 1 www.dsihk.sk +421(0)2 2085-0631 2005 large companies EUR600; small companies involvement in German-Slovak business individual assistance in market entry in [email protected] bdrbb.sk E, F, G, 0 pricing Bratislava - Staré Mesto 811 03 +421(0)2 2085-0620 kompalla@ 450 EUR420; institutions EUR250 community Germany / Slovakia; organisation of member [email protected] +421(0)2 2085-0632 dsihk.sk E, G, events; support in vocational training 7 BMB Partners Renáta Bláhová 8 Hispanic - Slovak Chamber of Commerce Francisco de la Sierra Zámocká 34 www.bmb.sk +421(0)2 2129-9000 1996 25 NA NA Poštová 1 www.camaradecomercio.sk +421(0)2 5249-3005 2009 individuals EUR150; small companies application form, membership fee support of commercial relations between Slo- Bratislava - Staré Mesto 811 01 +421(0)2 2129-9000 renata.blahova@ 1 / 1 NA l Bratislava - Staré Mesto 811 06 +421(0)2 5249-3005 fdelasierra@ 32 EUR500; big companies EUR1,000 vak and Spanish companies through contacts, [email protected] bmb.sk E, G, 0 [email protected] camaradecomercio.sk E, S, information, events and disaissions 8 CCS Tax, k.s. Denisa Ružičková 9 Italian - Slovak Chamber of Commerce Giorgio Dovigi Tomášikova 50/E www.ccstax.sk +421(0)2 3260-6512 2009 17 business consulting, accounting, payroll, OBI, Austrian Airlines, Raiffeisen Leasing Michalská 7 www.camit.sk +421(0)948 899-880 1997 EUR500 application form, membership fee lobbying; events; meetings; info and con- Bratislava - Nové Mesto 831 04 +421(0)2 3260-6512 ruzickova@ 1 / 2 5 l l corporate services, audit Bratislava - Staré Mesto 811 01 +421(0)948 899-880 g.dovigi@ 170 sulting services; assistance in market entry; [email protected] +421(0)2 3214-4000 ccstax.sk E, H, G, NA [email protected] camitslovakia.sk E, I, accountancy 9 Elanor Slovakia, spol. s r. o. Ivan Zizič Netherlands Chamber of Commerce in the Slovak 10 Adriana Kukučková Republic Miletičova 23 www.elanor.eu +421(0)915 392-499 1991 40 complex payroll outsourcing and HR admi- Accenture, Allianz, Atlas Copco, British Bratislava - Ružinov 821 09 +421(0)2 2081-2646 ivan.zizic@ 3 / 10 40 nistration, HR reporting, HR IS provider Council, Euler Hermes, Generali, Schen- Moskovská 13 www.netherlandschamber.sk +421(0)904 281-608 1997 individual EUR200; corporate EUR830; application form, board approval, mem- business contacts; networking; consulting; [email protected] elanor.sk E, H, G, R, Pl, l l l ker, Škoda Transportation Group, Tieto, Bratislava - Staré Mesto 811 08 +421(0)904 281-608 director@ - patron EUR1,500 bership fee business and social events; seminars; events Unicredit Bank, VÚB [email protected] netherlandschamber.sk E, in Slovakia and in the Netherlands 10 Ernst & Young, s.r.o. (EY) Matej Bošňák 11 Slovak - Polish Chamber of Commerce Stanislav Kučírek Hálkova 31 www.spok.sk +421(0)41 723-5102 1996 EUR166 company established in she Slovak Republic search for business partners; presentation Žižkova 9 www.ey.com/sk +421(0)2 3333-9111 1991 400 assurance, tax, legal, transaction and NA Žilina 010 01 +421(0)41 723-5102 zahrza@ 35 and Poland of members; organisation of trade missions; Bratislava - Staré Mesto 811 02 +421(0)2 3333-9111 ey@ 2 / 150 NA l l l l l advisory (performance improvement, IT [email protected] +421(0)41 723-5653 za.scci.sk E, Pl, exhibitions; seminars; etc. [email protected] +421(0)2 3333-9112 sk.ey.com E, G, 0 advisory) services 12 Slovak Chamber of Commerce and Industry Peter Mihók 11 Grant Thornton Consulting, k.s. Wilfried Serles Grosslingová 4 www.sopk.sk +421(0)2 5413-1228 1992 EUR200 - EUR8,600 (depending on size NA contacts for firms; business trips; arbitration Hodžovo námestie 1/A www.grantthornton.sk +421(0)2 5930-0400 1991 60 accounting, tax and payroll services NA Bratislava - Staré Mesto 816 03 +421(0)2 5413-1228 predseda@ - of company) court; seminars; trainings; legal and customs Bratislava - Staré Mesto 811 06 +421(0)2 5930-0400 wilfried.serles@ 1 / 135 6 l l [email protected] +421(0)2 5413-1159 sopk.sk E, F, G, consulting; publication [email protected] +421(0)2 5930-0410 sk.gt.com E, G, 1 Swedish Chamber of Commerce in the Slovak 13 Jan Norrman 12 KPMG Slovensko, spol. s r.o. Kenneth Ryan Republic 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- Dvořákovo nábrežie 10 www.kpmg.sk +421(0)2 5998-4111 1991 318 audit, tax, transactions and restructuring, NA Bratislava - Nové Mesto 831 04 +421(0)917 750-884 jan.norrman@ 35 empl. EUR 830; individuals EUR100 ship fee, attend events tions; visits to companies, social and sports Bratislava - Staré Mesto 811 02 +421(0)2 5998-4111 kpmg@ 2 / 155 63 l l l l l management consulting, risk consulting, [email protected] sweden.sk E, events; networking [email protected] kpmg.sk E, K, H, G, R, 1 legal services 14 Swiss - Slovak Chamber of Commerce Zsolt Kajtor 13 LeitnerLeitner Anna Fábryová Michalská 12 www.hssr.sk +421(0)905 227-891 2000 EUR500 - EUR1,200 governing board approval NA Staromestská 3 www.leitnerleitner.sk +421(0)2 5910-1800 1996 48 tax advisory, audit, corporate services, NA Bratislava - Staré Mesto 811 01 +421(0)903 476-538 zsolt.kajtor@ 49 Bratislava - Staré Mesto 811 03 +421(0)2 5910-1800 anna.fabryova@ 1 / 9 7 l financial advisory, payroll wwwSpectator.sk:[email protected] 1 7.12.2012gmail.com23:13 StránkaE, G, 1 [email protected] leitnerleitner.sk E, G, NA 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

HR Administration and Payroll Outsourcing Leader Ing. IVAN ZIZIČ Managingin Central Director and Eastern Europe

Elanor Slovakia, spol. s r.o. WWW PECTATO SK MiletičovaElanor 23 Slovakia spol. s r.o. SP019170/001 .S R. 821Miletičova 09 Bratislava 23, 812 09 Bratislava All you need to know about Slovakia... updated daily tel.:Phone: +421 2 +421208 39 220 563 839 563; e-mail: [email protected], [email protected], www.elanor.eu mobile: +421 915 392 499 e-mail: [email protected] elanor_186_30.inddwww.elanor.eu 1 14. 11. 2019 13:28:59 90 consulting - finance and tax consulting – specialised 91

Company (Listed alphabetically) www Chief executive officer Address Phone Phone

Ľudský kapitál

City, Postal code Fax E-mail E-mail

Názov (v abecednom poradí) Company (Listed alphabetically) www Chief executive officer Adresa www Riaditeľ Address Phone Phone / Marketing a PR / Financie a dane / Ľudský kapitál

Mesto PSČ Telefón Telefón Other Major clients City, Postal code Fax E-mail / Manažment / Nehnuteľnosti

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 zahr. slovenských / Počet zamestnancov / Počet Počet poradcov 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 E-mail

14 Mazars Mickael Compagnon Názov (v abecednom poradí) / IT Europeum Business Center, Suché Mýto 1 www.mazars.sk +421(0)2 5920-4700 2000 100 audit, accounting, payroll & HR, tax, finan- NA Adresa www Riaditeľ Bratislava - Staré Mesto 811 03 +421(0)2 5920-4700 NA 4 / 89 90 l l l l cial advisory services, consulting, RPA Mesto PSČ Telefón Telefón Other Major clients T consulting [email protected] E, F, G, 3 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 Consulting - Grant and subsidy 15 PricewaterhouseCoopers Advisory, s.r.o. Alex Šrank 1 EFA SK s. r. o. Kvetoslava Papanová Twin City Business Centre A, Karadžičova 2 www.pwc.com/sk +421(0)2 5935-0111 1991 96 restructuring, digitisation and process NA Slávičie údolie 41 www.thefundingalliance.com/sk/ +421(0)911 558-890 2004 3 EU funds, grant & finance advisory, private sector, public sector, NGOs Bratislava - Staré Mesto 815 32 +421(0)2 5935-0111 alexander.srank@ 1 / 157 96 l l automation Bratislava - Staré Mesto 811 02 +421(0)911 558-890 k.papanova@ 1 / 25 8 l l business development, innovation [email protected] +421(0)2 5935-0222 pwc.com E, 8 [email protected] efa-sk.com E, R, 5 management 16 Sahesa s.r.o. Blažena Szabová Consulting - IT Miletičova 21 www.sahesa.sk +421(0)2 4464-4188 1993 12 due diligence business and production companies, foun- 1 Accenture, s.r.o. Marek Jurko Bratislava - Ružinov 821 08 +421(0)2 4464-4188 szabova@ 2 / 1 3 l l l l dations, local governments, grants Plynárenská 7/C www.accenture.com/sk-en +421(0)2 5929-0290 1997 - digital, management and infrastructure world’s leading companies and govern- Bratislava - Ružinov 821 09 +421(0)2 5929-0290 tomas.volek@ 2 / 54 NA consulting, security, systems integration ments, serving clients in more than 120 [email protected] +421(0)2 4464-4189 sahesa.sk E, G, R, NA l l [email protected] accenture.com E, F, D, H, G, P, NA countries, working across 40 industries 17 TPA AUDIT, s.r.o. Ivan Paule R, Pl, I, S, Blumental Offices II, Námestie Mateja Korvína 1 www.tpa-group.sk +421(0)2 5735-1124 2001 70 acquisitions, investment aid, accounting NA 2 gd - Team, a.s. Erik Gottschall Bratislava - Staré Mesto 811 07 +421(0)2 5735-1111 ivan.paule@ 2 / 9 6 l l l l Moyzesova 4/A www.gd-team.sk +421(0)905 561-731 2005 100 SAP/programming, data migration, NA [email protected] tpa-group.sk E, G, NA Pezinok 902 01 +421(0)33 641-4173 erik.gottschall@ 4 / 10 94 l nearshoring, bodyshopping 18 VGD SLOVAKIA s.r.o. Bart Waterloos [email protected] +421(0)33 641-4173 gd-team.de E, H, G, 7 3 itelligence Slovakia, s.r.o. Martin Déneši Moskovská 13 www.vgd.eu +421(0)905 570-566 2002 116 audit, payroll, M&A NA Bratislava - Staré Mesto 811 08 +421(0)2 5920-1112 bart.waterloos@ 2 / 8 96 l l l Prievozská 4/C www.itelligence.sk +421(0)2 2091-1111 2013 39 BPM, SOA, EAM, B2B integration; ARIS, Orange, SPP, Transpetrol, Nafta, VšZP, [email protected] vgd.eu E, F, D, G, 1 Bratislava - Ružinov 821 09 +421(0)2 2091-1111 martin.denesi@ 2 / 25 36 l l webMethods, SAP, BellaDati, Metasonic Východoslovenská energetika, Západoslo- [email protected] itelligence.sk E, NA venská energetika, Železnice SR Inspection and certification 1 TÜV SÜD Slovakia s.r.o. Oleg Spružina consulting - Management Jašíkova 6 www.tuv-sud.sk +421(0)2 4829-1200 1993 110 auditing, training, testing, technical due mostly clients from these sectors: all

Bratislava - Ružinov 821 03 +421(0)2 4829-1200 info@ 4 / 100 NA diligence kinds of industry, energy, real estate, [email protected] tuv-sud.sk E, G, NA aerospace, infrastucture, sports, leisure &

entertainment Company (Listed alphabetically) www Chief executive officer Address Phone Phone City, Postal code Fax E-mail E-mail

Názov (v abecednom poradí) Adresa www Riaditeľ Mesto PSČ Telefón Telefón Other Major clients

E-mail Fax E-mail in SR of establishment in SR / No. branches Year (No. of countries worldwide) / Languages pobočiekRok založenia v SR / Počet v SR vo svete) / Jazyky krajín (Počet advisors No. of employees / Slovak Foreign slovenských / Počet zamestnancov / Počet Počet poradcov zahr. 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 1 Centire s. r. o. Renáta Kiselicová Záhradnícka 72 www.centire.com +421(0)2 5010-9800 1994 21 process management, grant Slovak Telekom, Hotel Amade Bratislava - Ružinov 821 08 +421(0)2 5010-9800 renata.kiselicova@ 1 / 1 15 consulting, international projects, Château, Slovak University of [email protected] +421(0)2 5010-9888 centire.com E, 0 l l l l IT consulting Technology in Bratislava, Pontis Foundation 2 Deloitte Ivana Lorencovičová Digital Park II, Einsteinova 23 www.deloitte.sk +421(0)2 5824-9111 1991 272 enterprise risk services, forensic NA Bratislava - Petržalka 851 01 +421(0)2 5824-9111 deloitteSK@ 3 / 150 NA investigations, transaction advisory, [email protected] +421(0)2 5824-9222 deloitteCE.com E, K, G, R, NA l l l l l project management

3 Fipra - Public Policy & Regulatory Advisers Patrik Zoltvány Štefanovičova 12 www.fipra.sk +421(0)2 5443-6001 2007 8 public affairs, government relati- energy, health, transport, trade, 1/2 inz Bratislava - Staré Mesto 811 04 +421(0)2 5443-6001 slovakia@ 1 / 60 8 ons,regulatory affairs, competition public procurement, innovation, [email protected] +421(0)2 5443-6001 fipra.com E, F, H, G, R, 167 l l l policy, consumer policy industrial and consumer policy and finance 4 Jenewein Group Martin Krekáč, Matej Taliga inhouse Štefanovičova 12 www.jeneweingroup.com +421(0)2 5443-6001 1990 45 strategic & leadership consulting, private & family companies, Bratislava - Staré Mesto 811 04 +421(0)2 5443-6001 bratislava@ 1 / 1 88 executive search, public affairs & foreign investors, public sector, l l [email protected] +421(0)2 5443-6001 jeneweingroup.com E, F, H, G, R, 15 government relations EU/UK organisations, NGOs

5 MARKETiN CEE s.r.o. Pavol Kopec Lichnerova 41 www.marketincee.com +421(0)2 2020-0030 2003 3 market entry, export, M&A, part- ABB, Atlas Copco, Deloitte, DHL, Senec 903 01 +421(0)2 2020-0030 kopec@ 1 / 1 3 nership, competitiveness, business DIBD, Fortum, Hörle Trad, Ribe, l l [email protected] +421(0)2 2020-0031 marketincee.com E, G, S, 200+ development in CEE region Schenker Storen, Switzerland Global Enterprise, Trocellen 6 Menkyna & Partners Management Consulting, s.r.o. Ján Menkyna Palisády 47 www.menkyna.com +421(0)2 5441-2718 2006 20 executive search, management & NA Bratislava - Staré Mesto 811 06 +421(0)2 5441-2718 jan.menkyna@ 1 / 1 17 l l leadership consulting, individual [email protected] menkyna.com E, H, G, P, I, S, 0 and team coaching 7 PricewaterhouseCoopers Slovensko s.r.o. Alex Šrank Twin City Business Centre A, Karadžičova 2 www.pwc.com/sk +421(0)2 5935-0111 1991 289 accounting services, risk NA Bratislava - Staré Mesto 815 32 +421(0)2 5935-0111 alexander.srank@ 1 / 157 250 l l management [email protected] +421(0)2 5935-0222 pwc.com E, G, 9

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 Foreigners in Slovakia 93

Trade licences and doing Foreigners business in Slovakia he Slovak Spectator regarded as unauthorised licences. These are mostly the Q: What type of residence brings you the most trading if you systematically, activities of freelancers or activities permit do I need to be able to in Slovakia frequently asked independently, on your own that require other authorisation get a trade licence? Tquestions on obtaining a trade behalf, on your own responsibility, than just a simple trade licence A: Neither EU/EEA and licence and other conditions a for the purpose of earning profits, (like banking or health-care Swiss citizens nor non-EU/EEA foreigner needs to meet to be without holding a Trade Licence, services). citizens need a residence permit in able to do business in Slovakia. perform an activity subject to Q: As a foreigner, am I able to Slovakia to obtain a trade licence, We have answered these craft, regulated or unregulated obtain a trade licence in Slovakia? apart from regulated trades and questions with the kind help trades. The fine for unauthorised A: A person can pursue a trade crafts trades, where residence in of the Migration Information trading ranges from €1,659 up to in Slovakia in two different legal Slovakia is required. However, Centre of the International €3,319. statuses – either as a Slovak person non-EU/EEA citizens need a Organisation for Migration - http://www.mic.iom.sk/en/ or as a foreign person. In general, residence permit in Slovakia MIC IOM. doing-business/trade-business. every foreign person can carry on a if they are willing to run their html trade under the same conditions as business legally. Q: What do I need to be every Slovak person. EU/EEA and Swiss citizens able to pursue trade activities in Q: Which activities are can start running a business Slovakia? considered trade? Q: Can I do business in immediately after obtaining a A: If you intend to do A: A trade is a constant Slovakia on the basis of a trade trade licence. business in Slovakia, it is essential systematic activity pursued licence issued in another country? Non-EU/EEA citizens can to be granted a residency status independently, on one’s own A: In general, no. Only start operating their business only which allows you to conduct responsibility, with the aim to citizens of EU/EEA member states based on permanent residence or business. This means not all types gain profits. or Switzerland can occasionally temporary residence granted for of residency allow you to do provide services on the basis of a the purpose of doing business, business in Slovakia. If you intend The law does not define trade licence issued in another EU/ family reunion, studies, research to conduct a trade, you need to which activities it does recognise EEA member states. Occasional and development or temporary notify the Trade Licencing Office as trades, but rather lists activities providing will be determined in residence granted based on the and obtain a Trade Licence. that are NOT considered trades respect to quantity, regularity and status of a Slovak living abroad, Your activity would be and governed by the law on trade duration of services. or a person with long term Source: TASR Source: 94 Foreigners in Slovakia Foreigners in Slovakia 95

issues trade licences. The first – which means that the person or legal persons. For natural from the address of permanent certificate for a free trade licence step is to notify the office about has not been sentenced for persons it is necessary to state their residency). and €15 for the craft and fixed your intention to pursue a trade. committing an economic crime, a personal information, residential trade licence. This can be paid via You can do that in person at your crime against property or another address, place of business (if it Q: How much does it cost e-tax stamp, cash, money order or district trade licencing office based deliberately committed crime is different from the residential to have a trade licence issued in bank transfer. on your permanent residence. linked to business. In the case of address), and the business name Slovakia? In case of electronic The addresses of the offices are legal persons, this relates to its of their health insurer. Natural A: An applicant who goes to submission at www.slovensko. available on the Interior Ministry’s statutory representatives. persons with permanent residence the trade authorities in person sk, the certificate is issued for free website, search by region (in There are also some specific in Slovakia need to prove they needs to pay €5 to be issued a concerning free trade licences, and Slovak). It is now also possible to conditions applicants need are impeccable by handing in request your trade licence online to fulfil, based on the type of an abstract from the criminal on the www.slovensko.sk trade licence: for a craft trade records of the General Prosecutor’s E-government portal, but this licence applicants are required Office. In the case of foreigners, can only be done by those who to have a certificate issued by an they need the abstract from the have biometric ID cards. education facility stating they criminal records issued in their If a person does not have are professionally competent in home country. If their country permanent residence, they must a selected craft; for a fixed trade does not issue such a record, go to the Trade Licencing Office licence – applicants need to have applicants need to submit an in the region where their place of confirmation of their professional equivalent document issued by the business is located. competence acquired outside of respective court or administrative education. body. The documents cannot

Source: TASR Source: Q: What conditions do I be older than three months and residence in another EU member Commercial Register. Without a vital condition for registration. need to fulfil in order to be Q: What documents do I must be translated into Slovak. state. In addition, foreigners from this registration the right to eligible for a trade licence? need when applying for a trade Applicants also need to submit the EU/EEA and Switzerland or operate a business in Slovakia will Q: Where do I request my A: An applicant needs to be licence? certificate authorising them to use OECD member states are obliged not be permitted. Permanent or trade licence? older than 18 years of age; have A: All applicants need to fill in the property at which they will do

to register themselves in the temporary residence in Slovakia is A: The Trade Licencing Office a legal capacity; be impeccable a form, either for natural persons business (if the address is different Benedikovič SME - Tomáš Source: What foreigners ask before relocating to Slovakia? FAQ: EU citizens - dealing with immigration authorities Q: Is Slovakia safe? What are the safest and the for via public health insurance. Every employed Each of them has many branches around Q: Am I obliged to register with the authorities police issues a plastic card stating your residence residing in Slovakia and the residence permit of most dangerous places for living in Bratislava? foreigner in Slovakia is entitled to public health the country. To obtain a new number with as a citizen of another EU member state living in Slovakia (Pobytový preukaz občana EÚ). that relative. The documents need to be Slovak A: Slovakia ranked 23rd out of 163 countries in insurance, however, he/she needs to register rechargeable credit foreigners need their in Slovakia? A: You are required to report your Q: Do I have to pay an administrative fee to be originals or official translations. the 2019 Global Peace Index, and 15th out of the with one of three health insurers who offer more passport or ID (applicable only for EU residents). stay in Slovakia within 10 days of entering the registered? A: While the registration is officially Q: When can I ask for permanent residence in 36 countries in Europe. The crime, violence and information for foreigners in English on their Q: What conditions should I meet to get a bank country (if you are staying in a hotel, they report free of charge, you are required to pay to get Slovakia? A: If you reside in the country for at vandalism rate, based on data from Eurostat is web pages: www.vszp.sk, www.dovera.sk, www. account? for you). You can stay in Slovakia up to 90 days your residence card (Pobytový preukaz občana least five years without interruption. In specific one of the lowest in Europe. As in other bigger union.sk. The last one also provides special A: A person willing to get an account should be without requesting a residence permit at the EÚ) issued. The standard fee is €4.50. cases, also earlier. cities in Europe, also Bratislava has its small health insurance for those foreigners who are older than 18 (in the case of student accounts, the Alien Police Department. Q: Do I need to ask for the residence card? Q: How do I register my family members living areas with poorer reputations the Stavbárska not entitled to public health insurance. Many age limit is reduced to 15). Banks like VÚB, Tatra Q: Where do I register? Who issues the A: The document that you receive from the with me in Slovakia? A: You need to submit two street, referred to as Pentagon by locals, in public hospitals are outdated, English is still not banka, Slovenská sporiteľňa or ČSOB offer the residence permit in Slovakia? A: In Slovakia, alien police department after they accept your pictures of the family member sized 3x3.5 cm, the Podunajské Biskupice borough and the common and it is why foreigners prefer to use easiest way to open an account: foreigners need the alien police department acts as the registration request is sufficient for you in the a valid passport, and a document proving your Kopčianska street in the Petržalka district. The private clinics where most of the services are not only their passport or ID (the latter is applicable immigration authority and receives residence first five years of your stay in the country. The family relationship with the person you are regis- most dangerous places in Slovakia are Bratislava free of charge. only for EU residents). Legal entities need to have permit requests. card is optional. tering (a birth certificate, a wedding certificate), II district, Košice, and Trnava, as well as Hlohovec Q: How much do I spend for food? an extract from the business register and an ID Q: Can I also register for residence prior to my Q: What documents do I need to apply for my as well as your residence permit document. and Piešťany, according to crime maps published A: The average Slovak spent €864 in year 2018 (in the case of companies), or the trade licence, arrival, outside Slovakia? A: No, you are only residence permit? A: To apply for a five-year Q: What are my duties as a foreigner with by the police in late October 2016. to purchase food and non-alcoholic beverages concession license/application to assign company able to register with the respective alien police residence permit you need to submit your valid a residence permit in Slovakia? A: You are Q: What is the average wage in Slovakia? (€784 food, €80 beverages), according to the ID and ID (in the case of self-employed), plus a department within the country. ID or passport, two pictures sized 3x3.5 cm, required to report any change in your personal A: €1,013 (according to the 2018 figures). Statistics’ Office. minimum deposit. Q: How long does it take to obtain my resi- proof of address, and proof of your purpose of data: name, surname, civil state, state citizenship, Q: Where can my children study? Q: Where can I learn Slovak and how long does Q: When can I obtain Slovak citizenship? dence permit in Slovakia? A: You receive a do- staying in Slovakia. data from your passport or your ID, within 10 A: Several international kindergartens and schools it take? A: Slovak is a bit easier for foreigners A: Foreigners can obtain Slovak citizenship by cument of registration for a residence permit on The proof of your purpose of staying in days of the change taking place. If your passport are active in Slovakia (www.bis.sk, www.qsi.org, coming from the Slavic group of languages adoption (applies to children) or granting. The the day when you submit your registration with Slovakia may be a work contract, or promise or your address card is lost, stolen, or damaged, www.galileoschool.sk, www.cambridgeschool.eu, as some words may be similar. Slovake.eu is latter means that the applicant has to meet the alien police department. Within 30 days, the of employment, or a document that you are you should report it within 10 days. www.montessori-school.sk, www.wonderland.sk, a multilingual free-of-charge website where several conditions, including having permanent self-employed, or a document that you have Q: What do I do if I need to prolong my www.bbhill.sk). There is also a boarding school foreigners can learn Slovak. residency in the country for eight years (check sufficient resources and will not fall into material residence permit in Slovakia? A: You need to (www.leafacademy.eu). Q: Where can I find job offers? A: There are www.mzv.sk for more details). need during your stay in Slovakia plus proof of submit your expired residence card (Pobytový Q: What should I know about health care in several job portals with offers in Slovakia. The health insurance, or a confirmation from your preukaz občana EÚ), a valid travel document Slovakia? biggest is Profesia.sk. The questions were collected from the survey school that you are a student in Slovakia, or a (passport or ID), and a form filled out in Slovak. A: Emergency medical services are accessible Q: What should I do to make calls in Slovakia? carried out among the relocation companies Pro statutory declaration that you are continuously For more detailed questions and answers about to patients within 11 minutes across the whole A: There are four mobile operators in Slovakia: Relocation, Slovakia Invest, and AGS Bratislava looking for a job in Slovakia, or a document dealing with immigration authorities, go to that proves your family relationship to a person www.spectator.sk. country. Health care in public hospitals is paid Slovak Telekom, Orange, O2 and Swan (4ka). International Movers. tasrSource: 96 Foreigners in Slovakia Foreigners in Slovakia 97

health insurance contributions zdravotná poisťovňa) from which of the next year, as well as register both on the country’s territory Foreigners residing in Slova- starts the first day of your you can choose one according to yourself as self-employed in the and abroad. As the same person kia for more than 183 days (with- sole trading. Subsequently, your preferences. The minimum Social Insurance Agency by July 9. can be considered a tax resident outholding a permanent residence within eight working days rate for sole traders is €70.91 in of another country as well (if permit) are obligated to fill in tax after this obligation arises, you 2020. Q: Do foreigners with per- said state has similar legislation), returns in Slovakia which include are obliged to inform your manent residency in Slovakia the international agreement on all sources of income. Foreign- health insurer of the amount Q: Where do I register to and doing business in Slovakia preventing double taxation is ap- ers residing in Slovakia for less of advance payments. The pay my social insurance and have to submit a tax return and plied. Based on this deal, the tax than 183 days (without holding a obligation to register at the how much should I pay? pay taxes in Slovakia? residency is set. permanent residence permit) are Social Insurance Agency does A: Your obligation to pay so- A: First, it is necessary to Q: What deadlines must obligated to fill in tax returns for not arise during the first year of cial insurance depends on income distinguish whether the taxpayers taxpayers meet? incomes in Slovakia. However, if sole trading (the next years it earned in a particular calendar are tax residents in Slovakia or A: Everybody needs to submit a foreigner holds a temporary res- depends on the amount of your year. This obligation arises the not. The tax residents in Slovakia, a tax return for the previous year, idence permit for the purpose of income). However, you have year following the calendar year who need to pay taxes from all by March 31. business and wants to renew this the right to register yourself in which your income reached the their incomes here, are natural permit, he/she must prove taxed and pay the contribution required limit (€6,078 in 2020). people with permanent residency Q: What rules related to tax income amounting to a specific voluntarily. If your income in a particular in Slovakia or those who usually payment are applicable when sum of money (depending on the

Source: TASR Source: Q: Where do I register to calendar year reaches this limit, reside here. The law stipulates foreigners do not have perma- statutory life minimum). for €7.50 in the case of craft and are liable to register in the after obtaining the temporary pay my health insurance and you are obliged to start paying the that such people need to pay taxes nent residency in Slovakia but Sources: MIC IOM, Interior Min- fixed trade licences. Commercial Register. If you residence). Your registration how much should I pay? social insurance from July 1, as in Slovakia, from income received do business here? istry website, Financial Administration are a non-EU/EEA citizen with a public health insurer A: You can be registered relocation companies Q: What do I need to do and you have been granted and the tax office will be in one of the public insurance after I receive my trade licence? temporary residency or you do carried out directly by the companies by the Trade Licence A: Only foreign nationals not have residence in Slovakia, Trade Licence Office, if you Office directly. There are three with permanent residence you must register yourself in fill in also the attachments to public health insurance compa- outside EU/EEA/OECD the Commercial Register after the official application form. nies in Slovakia (Všeobecná zdra- member states or Switzerland obtaining the trade license (or Your obligation to pay your votná poisťovňa, Dôvera, Union Company (Listed alphabetically) www Chief executive officer Address Phone Phone / Marketing a PR / Financie a dane / Ľudský kapitál

City, Postal code Fax E-mail / Manažment FAQ: Non-EU citizens dealing with immigration authorities E-mail / Nehnuteľnosti

Q: Can I request a residence permit outside made by an authorised person. Also, the documents under 18 years of age - birth certificate of the Názov (v abecednom poradí) / IT Slovakia? A: Third country nationals who require need to be apostilled or superlegalised. This does child, proof of residence of the parent of the child Adresa www Riaditeľ Mesto, PSČ Telefón Telefón Other Major clients

T consulting a visa to be able to enter Slovakia may register not apply to documents issued by authorities of in Slovakia, an affidavit of the parent of the child E-mail Fax E-mail in SR (No. of countries of establishment in SR / No. branches Year worldwide) / vo pobočiek krajín Languages / Rok založenia v SR Počet v SR (Počet svete) / Jazyky zamestnancov / Počet advisors No. of employees / Slovak Foreign / poradcov slovenských / Zahr. Počet Management consulting Financial & tax consulting poradenstvo Legal advice / Právne Human capital consulting Marketing & PR consulting I Real estate consulting Iné Hlavní klienti for a residence permit at the Slovak embassy or France, Austria, and the Czech Republic. that the child is single, and the written consent of 1 4Expat, s.r.o. Katarína Ostatníková Grösslingová 30 www.4expat.sk +421(0)903 013-113 2008 1 renting apartments and houses in Bratisla- business companies, embassies, internati- consulate in their home country. Third country Q: I came to Slovakia to do business. What the second parent of the child who has the right Bratislava - Staré Mesto 811 09 +421(0)903 013-113 Katka.ost@ 1 / 1 2 l va, housing search, relocation services onal schools and institutions, international nationals who do not need a visa to enter Slovakia documents do I need to prove this is the purpose to meet with the child. For a single parent of a [email protected] gmail.com E, R, NA students can register either at the Slovak embassy in their of my stay? foreigner living in Slovakia - birth certificate of the 2 AGS Bratislava International Movers Justas Cemnolonskas Prístavná 10 www.agsmovers.com +421(0)2 5341-2090 1999 10 international moving of household goods UN, UNICEF, embassies, UNDP home country or with the Alien Police Department A:In the case of a temporary residence permit child and proof of the child’s residence in Slovakia, Bratislava - Ružinov 821 09 +421(0)2 5341-9227 justas.cemnolonskas@ 1 / 154 12 l by road, air and sea; storage after their arrival to Slovakia. for the purpose of business, the purpose of the a document proving that the parent is single (e.g. [email protected] ags-globalsolutions.com E, F, G, R, Pl, 85 Q: What documents do I need to apply for my residence can be documented by: 1. A business death certificate of the late spouse) and a document 3 FRACHTMEISTER International Ladislav Holocsi Trnavská 70 www.frachtmeister.com +421(0)948 251-707 2018 10 international moving and relocation international companies, embassies, diplo- residence permit? A: Filled in application form, 2 plan along with expected expenses related to the proving that the parent is dependent on the child Bratislava - Ružinov 821 02 +421(0)948 251-707 ladislav.holocsi@ 1 / 4 2 l services mats, managers, expats, individual clients identical colour photos (3 x 3.5 cm), administrative commencement of business, 2. Trade Registry (e.g. medical certificate stating that the health [email protected] frachtmeister.com E, F, H, G, 1 fee (as required for the relevant type of residence), Extract, 3. Articles of Incorporation signed by all condition of the parent necessarily requires the care 4 Move One, s.r.o. Alica Kačmariková Vajnorská 100/B www.moveoneinc.com +421(0)915 254-599 2004 5 relocation and moving services NA valid passport, document proving the purpose of the founders (the signatures of the founders must of another person, and an affidavit stating that in Bratislava - Nové Mesto 831 04 +421(0)2 6353-1303 alica.kacmarikova@ 1 / 47 6 l l residence (business, studies, employment, research be authenticated), 4. Foundation Agreement or a the country where they come from they receive no [email protected] moveoneinc.com E, F, G, R, NA and development, official duty, family reunion, Foundation Deed, where the applicant is listed as appropriate family support). The documents shall 5 Pro Relocation s.r.o. Ivona Demáčková Mliekarenská 7 www.prorelo.com +421(0)2 2090-2020 2004 15 immigration and relocation services almost 100 corporate customers opera- special activities, status of Slovaks living abroad), an authorised representative, 5. Slovak Commercial not be older than 90 days. Bratislava - Ružinov 821 09 +421(0)2 2090-2020 slovakia@ 1 / 2 1 l l ting in Slovakia - shared service centres, document proving clear criminal record, documents Registry Extract and notarially authenticated record Q: How do I prove my integrity? What are the [email protected] prorelo.com E, NA production companies, technology centres on accommodation, documents proving financial documenting that the applicant has become an requirements of the criminal record? 6 ProfiDeCon Slovakia s.r.o. Patricia Tóthová Vajnorská 100/B www.profidecon.com +421(0)918 318-404 2012 8 relocation and immigration services international companies, individual clients coverage. authorised representative, 6. Other documents A: You need to prove you have a clean criminal Bratislava - Nové Mesto 831 04 +421(0)918 318-404 info@ 1 / 1 4 l Q: Do the required documents need to be proving business activities in Slovakia (e.g. extract record. The documents you need are a Criminal [email protected] profidecon.sk E, G, NA submitted in Slovak? A: Yes, all applications from the Register of Self-employed Farmers, or a Registry Extract from your country of origin and a 7 Santa Fe Relocation Services, s.r.o. Anthony Heszberger Mlynské nivy 77 www.santaferelo.com +421(0)2 2040-0844 1995 4 relocation, moving, transportation, logis- diplomats, corporate clients, private and documents you submit need to be officially license to operate private medical or legal practice). Criminal Registry Extract from the country where Bratislava - Ružinov 821 05 +421(0)2 2040-0844 anthony.heszberger@ 1 / 47 0 l tics, immigration, real estate, visa persons translated into Slovak by a translator who has Documents must not be older than 90 days. you resided in the last 3 years for more than 90 days [email protected] santaferelo.com E, H, G, 0 official credentials. Only documents in Czech do Q: I want to bring my family members to during 6 consecutive months. 8 SlovakiaInvest Group s.r.o. Milan Kurota Lazaretská 8 www.slovakiainvest.ru +421(0)2 3214-4901 2009 40 auditing, accounting, investment advisory natural persons from Ukraine, Russia, not need to be translated. Authorised translation Slovakia. What documents do I need to request Bratislava - Staré Mesto 811 01 +421(0)2 3214-4901 slovakiainvest@ 1 / 1 5 l l l l l Middle East and 20+ other countries into Czech language is also valid, but needs to temporary residence for them? For more detailed questions and answers about [email protected] +421(0)2 5292-1319 slovakiainvest.sk E, H, G, R, 4 be accompanied with a document issued by the A: For spouses - marriage certificate and spouse’s dealing with immigration authorities in Slovakia, 9 Wesconi s.r.o. Werner Schmitz Kremnička 3 www.wesconi.com +421(0)904 112-904 2014 11 engineering automotive and OEM suppliers consulate that confirms the translation has been proof of residence in Slovakia. For single minors see www.spectator.sk. Banská Bystrica 974 05 +421(0)48 285-8000 werner.schmitz@ 2 / 4 6 l [email protected] wesconi.com E, G, 3 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 Index of companies APPEARING IN THE investment advisory guide 2019/2020

A Italian - Slovak Chamber R of Commerce...... 88 REN itelligence Slovakia...... 91 audit CLS Čavojský & Partners...... 42 Renaudit...... 89 J, k COLAS Slovakia...... 68 RK SPIRIT...... 70 J&T REAL ESTATE...... 71 Colliers International...... 69 Rödl & Partner Advokáti...... 44 COMPRA...... 70 Jenewein Group...... 90 1. realitná a aukčná spoločnosť...... 69 Royal Reality (Bernolakovo Gardens)....71 CORWIN...... 71 Jones Lang LaSalle...... 69 108 Agency...... 69 CRESCO REAL ESTATE...... 71 Kinstellar...... 44, 38-41 4Expat...... 97 CTP Invest SK...... 71 KPMG Legal...... 44 Accace...... 89 Cushman & Wakefield Property KPMG Slovensko...... 89 RUŽIČKA AND PARTNERS...... 43, 38-41 Accenture...... 91 Services Slovakia...... 69 l s, Š ACCEPT AUDIT & CONSULTING...... 89 CZ Slovakia...... 71 L-construction...... 68 ACCREDO...... 89 LeitnerLeitner Consulting...... 89 ADMS...... 69 LEXXUS...... 70 Lucron Group...... 71 Sahesa...... 90 ČECHOVÁ & PARTNERS...... 42 m Santa Fe Relocation Services...... 97 D MADISON SK...... 70 Skanska SK...... 68 Advokátska kancelária MCL...... 42 Deloitte...... 90 Malata, Pružinský, Slovak - Polish Chamber of Commerce..88 Advokátska kancelária Deloitte Legal...... 44 RELEVANS...... 42, 38-41 Hegedüš & Partners...... 42 Slovak Chamber of Commerce Dentons Europe...... 44, 38-41 agreal.sk...... 70 MARKETiN CEE...... 90 and Industry...... 88 DETVAI LUDIK MALY UDVAROS...... 42 AGS Bratislava International Movers.....97 Martin Pavle...... 42 Direct Real...... 70 Allen & Overy Bratislava...... 44, 38-41 MartinDevelopment...... 71 Doprastav...... 68 American Chamber of Commerce Mazars...... 90 DYNAMIK HOLDING...... 68 SlovakiaInvest Group...... 97 in the Slovak Republic...... 88 Menkyna & Partners Management E, f Arthur Real Estate Company...... 70 Consulting...... 90 EFA SK...... 91 Move One...... 97 ASB Slovakia...... 89 SOUKENÍK – ŠTRPKA...... 42, 38-41 Elanor Slovakia...... 89 MRE Management...... 69 Austrian - Slovak Chamber Squire Patton Boggs...... 44 Ernst & Young...... 89 n of Commerce...... 88 STRABAG...... 68 Ernst & Young Law...... 44 Národná asociácia realitných Axis real...... 70 STRABAG Pozemné a inžinierske EUROVIA SK...... 68 kancelárií Slovenska...... 70 B staviteľstvo...... 68 Fipra - Public Policy & Regulatory Barger Prekop...... 42 Advisers...... 90 Swedish Chamber of Commerce in the Slovak Republic...... 88 FRACHTMEISTER International...... 97 Swiss - Slovak Chamber French - Slovak Chamber NECTEL...... 68 of Commerce...... 88 Bartošík Šváby...... 42 of Commerce...... 88 g Netherlands Chamber of Commerce Škubla & Partneri...... 43, 38-41 BDR...... 89 in the Slovak Republic...... 88 gd - Team...... 91 t Noerr...... 44 German - Slovak Chamber of Industry and Commerce...... 88 Takenaka Europe GmbH...... 68 Gleeds Slovensko...... 69 Blaňár & Partners...... 42 TaylorWessing e/n/w/c Goldbeck...... 68 BMB Partners...... 89 NOVICKÝ advokátska kancelária...... 43 advokáti...... 44, 38-41 Grant Thornton Consulting...... 89 bnt attorneys-at-law...... 44 p TPA AUDIT...... 90 h BOND Reality...... 70 Paul Q...... 43 TÜV SÜD Slovakia...... 91 HALO reality...... 70 bpv Braun Partners...... 44 Penta Real Estate...... 71 v, w, y Hamala Kluch Víglaský...... 42 Brazilian - Slovak Chamber Pergo...... 70 VÁHOSTAV - SK...... 68 of Commerce...... 88 PETERKA & PARTNERS...... 44 Valko Marián & partners...... 43 VGD_cmyk_300x100.pdf 1 13/03/13 23:52 British Chamber of Commerce PM Group Slovakia...... 69

in the Slovak Republic...... 88 C PricewaterhouseCoopers Advisory...... M 90

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MY C, Č CY HAVEL & PARTNERS...... 42, 38-41 PricewaterhouseCoopers Slovensko...... CMY 90 K Canadian Chamber of Commerce...... 88 HB Reavis Group...... 71 Pro Relocation...... 97 CASSOVIA REALITAS Košice...... 70 HERRYS...... 70 ProfiDeCon Slovakia...... 97 VGD SLOVAKIA...... 90 CBRE...... 69 Hillbridges...... 42 Prologis...... 71 VGP...... 71 CCS Tax...... 89 Hispanic - Slovak Chamber Prosman a Pavlovič VRK REAL PLUS...... 70 CEHIP...... 71 of Commerce...... 88 advokátska kancelária...... 43 Wesconi...... 97 Centire...... 90 i r White & Case...... 44, 38-41 CESTY NITRA...... 68 Immocap Group...... 71 RE/MAX Slovakia...... 70 YIT Slovakia...... 71 Investment Advisory Guide Publisher: Ján Pallo © 2019 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, Lenka Bartoňová, Nina Hrabovská-Francelová, Jana transmission of articles marked © The Slovak Spectator/ Spectacular Slovakia as well as for the Liptáková, Radka Minarechová, Zdenko Štefanides, Michaela Terenzani, Adam Valček public circulation of reproductionsof these articles in compliance with the 33rd article and 1st Copy editors: Anna Fay, Naomi Hužovičová, Francis Meija, Vicky Sheppard paragraph of the Copyright Law. Media Monitoring is provided by Newton Media, SITA, Cover page: AdobeStock Layout: Peter Malatinec and Slovakia Online with the approval of the publisher. Advertising material contained herein

Sales executives: Martina Mišíková, Barbora Jančárová is the responsibility of the advertiser and is not written or implied sponsorship, endorsement SP019136/002 Table section manager: Radka Minarechová Table section assistant: Kristína Andreidesová or investigation of such commercial enterprises or ventures by The Slovak Spectator or The Printed in: Alfaprint Rock, s.r.o., Address: The Rock, s.r.o. Lazaretská 12, 811 08 Bratislava. SP019042/003