21th 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 2020/2021 Ready for reforms: A new direction for Slovakia GENERAL PARTNER CONTENT ADVISOR general partner content advisor titulka.indd 1 20. 11. 2015 13:30:43 Contents 3 SARIO SLOVAK INVESTMENT AND TRADE DEVELOPMENT AGENCY Investor’s checklist . 4-13, 54, 70, 80 Labour market & education . 70-79 Slovakia basics . 4 Employment relations in Slovakia . 72 10 reasons to opt for Slovakia . .5 FAQ: Dealing with Slovaks . 72 Timeline: Construction of a new plant . 6 Job portals . 73 Timeline: Mass recruitment . .6 HR companies in Slovakia . 73 Types of business companies in Slovakia Labour market: overview . 74 (advantages and disadvantages) . 7 Government’s plans . 76 Slovak infrastructure & Industrial parks in Slovakia . 8 Statistics: wages & labour costs . 78 Timeline: Acquiring industrial space . .8 Statistics: labour market . 79 Useful contact details . 9 Information on Slovak regions . 10-13 Purchasing a plot in Slovakia . 54 Economy & business environment . 80-91 Labour market & Education . 70 Slovak economy . 82. Business & Economy . 80 Statistics: Slovakia & the European Union . .83 Improvement to business environment . 84 Success story . 86 Opportunities . 14-27 Investment highlights . 88 Automotive industry . 16 Advisors: Accounting, Audit & Tax . 90 Innovations . 18 Consulting firms . 91 Space research . 20. Digitisation . 22 Clean technologies . 24 Foreigners in Slovakia . 92-97 Business service centres . 26 Trade licences and doing business in Slovakia . .93 Clusters & Asssociations . 27 What foreigners ask before relocation to Slovakia? . 94 FAQ: EU citizens dealing with immigration authorities . 95 Government policy & legislation . 28-53 FAQ: Non-EU citizens dealing with 10 largest law firms in Slovakia . 29 immigration authorities . 96 SARIO is your one–stop shop for investment 10 largest international law firms in Slovakia . 30 Relocation companies . 97 10 largest local law firms in Slovakia . 31 and trade in SLOVAKIA. Talk to us today! Interview: Legislation . 32 Top deals: M&A, Banking & Finance . 34 Index . 98 Top deals: Real estate & Development . 36. INVESTMENT SERVICES Top deals: Labour law . 37. We will take your investment plans in Slovakia from A through Z to success. We provide in–depth information Litigation & Arbitration . 38 about Slovak business environment, industry opportunities, complex information on setting up a business, Overview: 2019/2020 top deals in Slovakia . 40 site selection assistance as well as real estate consultancy and complex aftercare services for established investors. Local law firms in Slovakia . 44 International law firms in Slovakia . 46 Who is who: attorneys in Slovakia . 48 FOREIGN TRADE SERVICES Justice minister unveils plans . 50 IS SARIO ensures identification of potential suppliers and subcontractors by matching your sourcing State investment aid . 52 and procurement needs with the potential of Slovak producers. Business networking and matchmaking N FIN events bring Slovak partners closer to your company. S Real estate . 54-69 EST RUS Moscow Pandemic & Real estate . 56 DK IRL LT Copenhagen Real estate market overview . 58 GB Vilnius BY NL Warsaw SARIO IS THE OFFICIAL GOVERNMENTAL AGENCY PROMOTING Rental housing . 62 B Brussels D PL L Prague Kyiv CZ UA SLOVAK INVESTMENT OPPORTUNITIES, BUSINESS & INNOVATIVE POTENTIAL FAQ: Renting an apartment in Slovakia . 64 SK F Vienna MD CH A H TO THE GLOBAL BUSINESS COMMUNITY . Real estate prices in Slovakia (sale, rent) . 64 Chisinau SLO RO Bucharest Developers . 66 P Belgrade AND I BIH Lisbon SRB Soa BG Real estate consulting . 67 E Rome AL MK SARIO I Slovak Investment and Trade Development Agency Construction firms . 68 Tirana GR TR Trnavská cesta 100 I 821 01 Bratislava I Slovakia SP020125/001 FAQ: Buying and selling a property in Slovakia . .68 Athens GPS +48° 9' 52.77", +17° 9' 20.27" Real estate agencies . 69 M CY +421 2 58 260 100 I [email protected] I [email protected] www.sario.sk 4 Investor’s CheCklIst Area Land use Protected areas Religion Time Zone Slovakia Basics (as national parks, protected Roman Catholic 62% agricultural grounds) Evangelical 5 .9% Area Land use Protected areas Religion Greek CatholicTime 3 .8% Zone GMT/UTC+1 hour 2 land 48.5%(as national parks, protected grounds) Roman Catholic 62%,Reformed 1 .8% agricultural 49,036 km Evangelical 5.9%, Orthodox 0 .9% forest 48.9% 41.3% other 1 .6% GMT/UTC +1 hour 49,036 km2 land Greek Catholic 3.8%, Currency Language forest 41.1% Reformed 1.8%, not specified 10 .6% urban areas 4.9% no religion 13 .4% urban areas 4.8%, Orthodox 0.9%, Currency Language water water 1.9% 1.9% other 1.6%, euro Slovak Population not specified 10.6%, other 3.3% 22.65% euro Slovak other 3.4% 23.39% no religion 13.4%; Population (2018) Life expectancy (2018): Bratislava (population: 5.458 million Nationalities Capital 5.445 million 80.9 years(women) 437,726) Life expectancy:Nationalities Hungarian Bratislava (population 73.8 years (men) 8.4% Capital 48.8%48.8% men men 80.8 years(women) Hungarian Other(2018): 432,864Košice (238,593), major 8.4% 10.4% Other Banská Bystrica (76,147) 51.2% women Avg age73.8 of population years (men) Other citiesKošice (238,757), Roma: major2% (10% 51.2% women 40.8 years Other Banská Bystrica (76,458) Avg age of population 10.4% Roma: 2% (10% estimated),cities Towns 141 (settlements with more Population increase per estimated), 1 .7% (Czech, than 5,000 inhabitants) 1.7% (Czech, Ruthenian,Towns 140 (settlements with 1,000 inhabitants (2017) Population increase per Literacy41.06 years Ruthenian, Ukrainian,Ukrainian,(2018) more than2,749 5,000 (settlements inhabitants) with German, Polish, German, Polish, Villages 1,000 inhabitants 81.1% Russian), 1.4% 99.6% Russian), 2,750 (settlementsfewer than 5,000 inhabi- Literacy 6.7% other and Villages 81.1% 6 .7% other and with fewertants) than 5,000 Slovak undeclared undeclared(2018) 0.7% 99.6% Slovak inhabitants) LOCATION Strategic location in the heart of *"Icons made by Freepik from www.flaticon.com" 10 1 Europe with great export potential GOVERNMENT GPOLICYOVERNMENT & LEGISLATION POLICY & LEGISLATION Mmembershipembership in international in international institutions: institutions: European Union,European the eurozone, Union, the NATO, eurozone, OECD, WTO, NATO, WHO, OECD, UN, WTO, OSCE, WHO, and UN, OSCE, and others. REASONS SAFETY & STABILITY others Taxes One of the safest and most politically Government structure: parliamentary democracy – the cabinet headed by the prime minister holds the executive powers and the country’s 2 Governmenthighest legislative structure: body parliamentary is the 150-member democracyparliament. – the cabinet Theheaded president by the prime is the minister head of holds state the and executive the formal powers head and of theVAT executive basic rate office with limited20% stable countries in Europe (source: the country’s highest legislative body is the 150-member parliament. The president is the head of state and the formal head of VAT reduced rate on books, newspa- Credit Insurance Group Credendo) powers. pers and magazines, medicines and 10% theexecutive executive office with with limited limited powers. powers. selected food Free trade agreements: Slovakia, as a member of the EU (the EU is a party to trade agreements and other agreements with Income tax 19-25% EUROZONE Free trade agreements: Slovakia, as a member of the EU (the EU is a party to trade agreements and other agreements with a trade component Corporate income tax 21% Why you should aboth trade in component the WTO both context in the and WTO bilaterally context and with bilaterally certain with countries certain andcountries regions) and regions) has free has trade free agreementstrade agreements with Norway, Ice and, the Faroe Islands, A member of the Eurozone since 2009 with Norway, Iceland, the Faroe Islands, the former Yugoslav Republic of Macedonia, Albania, Montenegro, Bosnia and Her- 3 as one of the few in Central & Eastern the former Yugoslav Republic of Macedonia, Albania, Montenegro, Bosnia and Herzegovina, the Palestinian Authority,Tax for Syria, motor Tunisia, vehicles Morocco,paid by business zegovina,Israel, Jordan, the Palestinian Lebanon, Authority, Egypt, Algeria,Syria, Tunisia, Mexico, Morocco, South Israel, Africa, Jordan, CARIFORUM Lebanon, Egypt, States, Algeria, Madagascar, Mexico, South Mauritius, Africa, the Seychelles, Zimbabwe, the Europe CARIFORUMRepublic of Korea,States, Madagascar, Papua New Mauritius, Guinea, Fiji, the Iraq,Seychelles, Colombia, Zimbabwe, Peru the and Republic Central of America, Korea, Papua Canada New (Source: Guinea, Fiji, EC) Iraq, entities only consider SLovAKIA Local taxes are set by municipalities. Colombia,Regulation Peru and Central America, Canada (Source: EC) QUALIFIED WORKFORCE They include taxes for real estate, dog li- Regulation:The Regulatory Office for Network Industries (ÚRSO) regulates the energy sector as well as water management in areas such as price policies, Cost–effective, skilled and loyal labour The Regulatory Office for Network Industries (ÚRSO) regulates the energy sector as well as water management in areas cences, usage of public space and others. 4 force with excellent multilingual skills while the sector of telecommunications and postal services is overseen by the Regulatory Authority of Electronic CommunicationsExcise