Since 2003, Healy Consultants Group has assisted our Clients with Slovakia business registration. Our services include i) Slovakia company incorporation, ii) government license registration, iii) business bank account opening, iv) employee recruitment, v) visa strategies and vi) office rental solutions.

Slovakia company registration summary

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• Advantages of Slovakia company registration

  

  1. Slovakia is the best country for automotive business in Central Europe, because:
     • The country is the largest producer of cars per capita in the World, with 171 cars produced per 1,000 inhabitants;
     • Three automotive giants already have factories in Slovakia, including: i) PSA ii) Volkswagen and iii) Kia;
     • There is a well-established co-operation between car manufacturers and Slovak Universities, supplying a growing stream of qualified labour;
     • Registering property process in Slovakia is one of the easiest in the World, ranked at number 8 by the World Bank;
     • Volkswagen doubled its car production in Slovakia over the past five years;
     • Currently, 274 automotive production plants operate in the country.
  2. Slovak businesses can benefit from investment incentives and aid, including:
     • Target business sectors enjoy access to “De minimis aid” of up to €200,000, including: i) energy security services ii) electronic communication and iii) public transport;
     • Government financial aid for disabled employee training projects;
     • Various investment aid options, including: i) cash subsidy for long-term tangible/intangible assets ii) income tax relief iii) job creation subsidy and iv) transfer of real estates for a price lower than a general value of the respective property;
     • Access to cheap industrial park land and real estate purchase for qualified investments of minimum €100m.
     • All R&D and technology-oriented companies in Slovakia are entitled to a range of investment incentives, including i) availability of real estate at affordable rates; ii) government support to cover the wages of the employees and iii) a subsidy on the acquired non-tangible and intangible assets. Also, investment aids of up to 35% of the value of the project are granted to these companies depending on the location of their business in Slovakia.

• Disadvantages of Slovakia company registration

  1. Slovakia was negatively ranked as the 65^th freest economy in the Heritage Foundation’s 2019 Index of Economic Freedom, a measure of freedom;
  2. Slovakia is negatively ranked as the 57^th least corrupt country in the world, according to the 2018 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians;
  3. Slovakia is negatively ranked as the 42^nd most competitive economy in the world in the Global Competitiveness Report 2019;
  4. The country is outside of top 100 global countries in terms of effectiveness of institutions, according to WEF;
  5. The official language for doing business in Slovakia is Slovak. As a result, all non-Slovak speaking foreign entrepreneurs are likely to face communication barriers in the country. Therefore, most of the non-Slovak speaking foreign entrepreneurs are required to hire local suppliers to overcome the language barrier.

• Best uses for a Slovakia company

  • Slovakia is an optimal destination for automotive companies, due to i) established specialised infrastructure ii) educated and moderately cheap labour and iii) cost-efficient industrial parks availability;
  • Logistics businesses prefer to register in Slovakia and access i) preferential government investment aid and ii) ideal location between the European Union.