DOING BUSINESS IN SLOVAKIA
June 2010

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SLOVAKIA, MARKET PROFILE

Economic outlook
Slovakia is amongst the Central European countries that have experienced the highest growth rate in 2005 – 2008, but was hit by the global market crisis in 2009.
Slovakia has implemented several years ago a flat tax rate of 19% (corporate income tax, personal income tax and VAT) which has helped boost the country’s economy.

STARTING BUSINESS IN SLOVAKIA

Setting up a legal entity
Foreigners (persons but also legal entities) can set up a business in Slovakia. The setting up process allows you to set up your Slovak company in approximately 4 weeks.
As in Czech Republic, the most common form of legal entity is the “s.r.o.”, the Slovak equivalent to an LLC (limited liability company), which requires a minimum capital of 5,000 EUR, and a minimum contribution by shareholder of 750 EUR.

Corporate income tax
The corporate income tax level in Slovakia is of 19%.

Value added tax (VAT)
The basic Slovak VAT rate is of 19%.