Slovakia

DESCRIPTION

Slovakia is truly a unique country – where else could find just about everything contained within such a  relatively small territory. Natural wonders, historical monuments, a rich folk culture and folklore, unique technical attractions, and entertainment right on the busy city streets. Let yourself become enchanted by its beauties, and enjoy the unforgettable atmosphere you’re bound to fi nd here. Discover the appeal of its natural scenery and storied history, culture, and traditions. Discover Slovakia. Come and see the country’s  immense range of natural diversity for yourself.

You’ll be amazed by the elegance of its deep valleys guarded by majestic mountain peaks, by its crystal clear mountain tributaries and streams, and by its many wild animals. Revel in the special experience of getting to know the country’s picturesque historical towns and impressive world heritage monuments. Taste the unique fl avours of its regional specialties and traditional national cuisine. Th ese are just a  few lines from the colourful book written by Slovakia itself through its enduring nature, history, culture, and tradition. If you want to discover Slovakia’s  unique attractions and spend your free time enjoying the many exciting memorable experiences that await you, take these few lines as your own personal invitation.

 

Slovakia is a country in Central Europe. It is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south. Slovakia’s territory spans about 49,000 square kilometres (19,000 sq mi) and is mostly mountainous. The population is over 5 million and comprised mostly of ethnic Slovaks. The capital and largest city is Bratislava. The official language is Slovak, a member of the Slavic language family.

In the 10th century, the territory was integrated into the Kingdom of Hungary, which itself became part of the Habsburg Empire and the Austro-Hungarian Empire. After World War I and the dissolution of the Austro-Hungarian Empire, the Slovaks and Czechs established Czechoslovakia. A separate Slovak Republic (1939–1945) existed in World War II as a client state of Nazi Germany. In 1945, Czechoslovakia was reestablished under communist rule as a Soviet satellite. Slovakia became an independent state on 1st January 1993 after the peaceful dissolution of Czechoslovakia.

Banská Bystrica

Banská Bystrica lies in the heart of Slovakia. The city is situated in the valley of the third longest Slovak river Hron. It is surrounded by the Nízke Tatry (Low Tatras), the Veľká Fatra (Greater Fatra) and the Kramnické vrchy. German settlers in medieval times helped make Banska Bystrica rich and famous with their advanced mining techniques for gold, silver and copper. The glory days of mining from the 14th-17th centuries left an architectural legacy of gothic and renaissance-era patrician mansions, plus churches ranging from Romanesque to baroque. The historic part of the city huddles around a beautifully restored medieval marketplace, now called Square of the Slovak National Uprising. Home of one of Slovakia’s leading universities, Banska Bystrica sparkles with the energy of youth.

Košice

Košice, with 234000 citizens, is after the capital the second largest town in Slovakia. The town is located in the valley of the River Hornád; on the west it is surrounded by the Slovak mountain – Slovenské rudohorie. Košice is the Eastern Slovakia’s centre of culture, industry, commerce, administration and science. Slovakia’s second largest city is a historic treasure trove, as well as a lively melting pot of nationalities. The Old Town’s (stare mesto) pedestrian – only cobble – stone main square is lined with baroque and neo-classical mansions. In fact, Kosice has the largest preserved urban area in the country. It also has Slovakia’s most beautiful cathedral in the middle of the oval-shaped main square.

Prešov

The region Prešov fills the north-eastern part of Slovakia and it stretches from the west to the east. It borders on Poland and Ukraine in the north and east respectively. The metropolis of what is the biggest region of Slovakia is the town Prešov, the third biggest town in Slovakia. It is also the centre of the historic region Šariš. Its pride is the town Bardejov (UNESCO monument) with the neighbouring world famous spa Bardejovské kúpele. Šariš is also the area with greatest number of wooden churche. The most attractive area in Slovakia in terms of tourism, the mountain range High Tatras (Vysoké Tatry), is also part of this region. The mountain range is visited by hikers, skiers and patients of climatic spas situated in the heart of the Tatra National Park.

Trnava

Trnava is located in western Slovakia only 47 km from the capital Bratislava on the Trnávka river. With its population of 69500 it is the 7th largest city is the country. As a capital of Trnava region it is a seat of Roman-Catholic archbishopric and 2 universities.The city is often referred as the “Slovak Rome” thanks to many churches within its city walls. The name of the city is implied from Slovak word tŕnie which means thornbush. The center of Trnava has been designated a Town Monument Reserve in 1987.

Nitra

It is situated on seven hills on both sides of the river Nitra. Because of its strategic geographic location. Nitra was first time mentioned in 871 – 873 AD in the document „Conversio Bagoariorum et Carantanorum“ and is known as the place where the first Christian church was built in the year 828 on the present-day Slovak territory. Cyril and Methodius, the patron saints of Europe, preached here and in 880 the fi rst Slavic diocese was established here. During the Great Moravian Empire one of the largest settlements in Central Europe, it remained an important centre of commerce until the late Habsburg Empire. The old town and the castle which was the largest one in Slovakia, introduce us to the local history; scores of sacred monuments refl ect the Christian history. Nitra is the seat of various institutions, universities, theatres and museums and a well-known location of fairs as well as a modern centre of industries. Every year a wide range of social, cultural and sports events attract a multitude of visitors.

Bratislava Castle

Bratislava Castle (Bratislavský hrad) is one of the landmarks of the city – a National Cultural Monument. It is a significant monument not only for the history of Bratislava, but also for the history of the whole country, mainly because its silhouette is embossed on the Slovak cent. It is situated on a rocky hill of the Little Carpathians in the centre of the city and is overlooking the river Danube. It also provides an excellent view of Bratislava and Austria. The massive building has four corner towers, reminding an upturned table. According to the documentary evidence, in the first quarter of the 13th century at the highest terrain point was a residential tower with a separate fortification, which is preserved as a Crown Tower. The residential tower, which was a place of proper, religious and military life is marked today in the pavement of the court. The Castle Church and the priory moved to the extramural in 1221. Since then, the history of feudal center has its independent development. Today’s appearance of the monumental building arose in the late Gothic reconstruction under the reign of the Emperor Sigismund of Luxembourg, launched in the year 1427. In 1431-1434 large two-storey palace was built there.

High Tatras

Rising suddenly out of a plain, the saw-toothed, snow-capped High Tatras are an awe-inspiring sight. The only truly alpine mountains in Eastern Europe – soaring to heights of 8,711 feet (Gerlachovsky stit, the tallest) — the majestic High Tatras are also one of the world’s smallest range of high mountains, occupying only 100 square miles. While there is a comfortable cablecar to the second highest peak (Lomnicky Stit at 8,635 feet ), the area is a magnet for mountain-climbers, hikers and skiers. Beautiful conifer forests blanketing the lower slopes were partially destroyed by gale-force winds in a storm in November 2004, and a massive, internationally-funded restoration effort is now underway. But the imposing mountains – and all of the recreational facilities, hotels and spa resorts – remain untouched, as do the nearly 100 mirror-smooth glacial lakes in the area. Your visit here will help revive the area.

Slovak Paradise

Slovak Paradise is a magical forested piece of land in the east of Slovakia, full of ravines, gorges, chasms, meadows and waterfalls. Devoted local hikers enjoy refreshing walks through the narrow canyons and up the waterfalls, often with the help of wooden bridges, high ladders and iron chains. The elevations are not high, but the adventure factor is. But no worries, the walks are very enjoyable and not that demanding as it may seem!

Sucha Bela gorge makes for one of the most fascinating karst marked paths through the Paradise. Waterfalls, rock windows, cascades, ladders, natural jacuzzis and even an ancient carthusian monastery await you on your way. The tour start in Podlesok. You’ll get there from Hrabusice. Park your car in the guarded parking lot. The main walk is one-way up the stream. Make sure you have good water-resistant hiking boots on, you will walk through the gorge, often with the stream below your feet. Refresh with a cabbage soup, Kofola or langoš in Klastorisko cottage. From there leads a quick return way to Podlesok. The tour is semi-demanding, 4 hours total. We wish you a heavenly journey!

Slovak Ice Hockey Team

The Slovak men’s national ice hockey team is the national ice hockey team of Slovakia and is controlled by the Slovak Ice Hockey Federation. As of March 2010, the International Ice Hockey Federation (IIHF), the world governing body of hockey, ranks them as the seventh strongest national team in the world. It is one of the most successful national ice hockey teams in the world. The team’s general manager is Róbert Švehla and their head coach is Zdeno Cíger.

In the last sixteen years, Slovakia has won four medals at the World Championships, including a gold medal in 2002 in Sweden. In winter Olympic games, Slovakia’s highest achievement is 4th place in Vancouver 2010. In the tournament they won against favourites Russia and Sweden, and lost against Canada in the semifinals and against Finland in the bronze medal game.

Slavín

The National Cultural Monument Slavín is located upon one of the most beautiful hills above Bratislava and is an important part of panorama of the capital of Slovakia. Joint work of leading Slovak artists was introduced to the public in 1960 as a memorial to the fight against fascism and victims of World War II and to the Red Army soldiers who died during exempted Slovakia. The memorial consists of three organically interconnected parts.

The first is the entrance part, starting from the main entrance to the street Na Slavíne with an impressive relief. It shows a group of soldiers swearing on the martial flag. The relief is lined up with a two-wing staircase, which joins into one large. The stairs bring the visitors to the basic scenery, while the central monument is revealing in all its beauty. The second part consists of two-level plateau with graves. The access to them is decorated over two sides with bronze statues of young women couples symbolically saluting and greeting the liberators. The military cemetery consists of six mass graves at two levels and of 317 individual graves around in which 6,845 soldiers were buried together.

The access to the main monument is surrounded by two sculptural groups “After the fight” and “Beyond the grave comrades” in over-life-size. The lower part of the actual memorial forms a hall of sacred ceremonies. Walls are decorated with mosaics and the ceiling is decorated with glasscrete window-pane. Above the hall towers a 37 m high pylon and at its top a high statue of “Victory soldiers” is located showing a Red Army putting out a flag as a sign of defeat the enemy.

Demänovská Valley

Located in Low Tatras in Demanovska valley, only a couple of minutes by car from Liptovsky Mikulas, Demanovska Cave of Liberty might just be the most beautiful underground place in Slovakia. You can park the car right below the entrance, the only downside here is the parking lot price :(… The tour lasts for about 1 – 1.5 hour and takes you through magnificent halls and domes, viewing rich flowstone fillings, flowstone water lilies, eccentric stalactites, mighty flowstone waterfalls and columns, sphaerolithical stalactites and many other forms of stalactites and stalagmites that are totally captivating. The temperature in the cave is 7°C and there are many stairs, so it’s probably not recommended for very young children (4 years and less). The ticket is 7€ (plus 10€ if you want to take pictures). And if you feel like caving, Demanovska Ice Cave is right next door.

Východná

Východná, a village below the High Tatras about 20 kilometres east of Liptovsky Mikulas, is the place to be the first weekend in July (every year) the oldest and greatest folklore music and dance festival in Slovakia held since 1953 is the top show of hugely diverse folklore traditions of Slovakia. An international range of performers also present folk traditions from other countries.  During the festival in the large open-air theatre, the whole village lives in a unique summer atmosphere. Amusements and accommodation is provided everywhere. Dance and craft workshops, dance parties and games are organized for the visitors. Top folk event of the world!

Grassalkovich Palace

Grassalkovich Palace is magnificent late Baroque building. An important and wealthy Croatian Comte Anton Grassalkovich had to build his summer residence in 1760. Anton Grassalkovich was a lawyer and later the chairman of the Royal Crown of Hungary. The palace was a noble aristocratic residence, it was one of the centers of social life, especially in the era of Maria Theressa. One of the most famous balls was organized in honor of the Duke of Saxe-Teschen Albert and his wife Christine, daughter of Maria Theressa. Joseph Haydn was playing on the ball. During the Slovak Republic the president dwelled here. In the era of totality it was a pioneer house. After the reconstruction in 1996 the palace is the residence of the president of the Slovak Republic. The palace is a one-storey building of rectangular ground plan. Although the palace is normally closed to the public, the park behind it is available to the public. The park is known as Grassalkovich Garden and also as the Presidential Palace gardens. Originally it was designed as a decorative French garden. Since 1919, it became a popular place for walks and concerts, and still serves as a quiet retreat from the hustle of the city. A statue of Empress Maria Theressa on horseback stands there and the Fountain of Youth can be found there too. The park also includes an alley of presidents, where each head of the state plants a small oak tree as a visit sign. The palace is located on the Hodžovo námestie and you can entry it via the street Štefánikova or Banskobystrická Street.

Old Town Hall

Old Town Hall is a historic building on the Main Square in Bratislava and is one of the oldest buildings in Bratislava. It consists of several buildings, namely Jakubov dom (James House), Pawerov dom (Pawer House), Ungerov dom (Unger House) and Apponyi Palace. The original part of the Town Hall is a house with its own tower on the eastern edge of the square. The Town Hall was built in Gothic style in the 15th century as a result of a combination of several houses (Pawer House, Unger House and Apponyi Palace). The main building next to the tower was built in the 14th century by major James, however the tower itself was built in the 13th century in Gothic style. Later it has undergone several changes and enhancements, especially the reconstruction in Renaissance style in 1599 after damaging in an earthquake, Baroque reconstruction of the tower in the 18th century after a fire and a Neo-Gothic wing was built in 1912. The building was used as the Town Hall from the 15th century to the late 19th century. At that time it also served another purpose, such as prison, mint and was used as an armories depository and city archives. Nowadays, it serves as the Municipal Museum depicting the history of Bratislava. Exhibited items include instruments of torture, the old town dungeons, antique weapons and armor, paintings and miniatures. One of the exhibited attractions is a cannonball built into the tower wall, shot by Napoleon’s soldiers in the 19th century. The Old Town Hall is located in the center of the city between the Main Square and the Primate’s Square, next to the Greek and Japanese Embassy. The Town Hall is easily recognized by its colored tile roof.

Orava Castle

Orava Castle (Oravský hrad) is a part of the most typical and natural regions of Slovakia. It is located on the rocky hill above Orava River and Oravský Podzámok village. Exhibitions of the Orava Museum – one of the most ancient museums in Slovakia, are organized inside the castle.

Castle was constructed in the 13th century from wood; slowly the wood was replaces by stone. During the Hungarian Kingdom the castle became the main centre of Orava region. Originally, the castle was built in Romanesque and Gothic styles, later reconstructed into Renaissance and Neo-Gothic styles. Through the history it was owned by several owners, went through many reconstructions, especially after a huge fire in 1800. The most extensive reconstruction was after the World War II. Nowadays, the castle is in a very good condition.

Nowadays, the castle consists of three separate parts – the upper, middle and the bottom part. This unusual solution was forced by the shape of the rock, on which the castle is located. Castle is easily accessible by car, bus or train from Ružomberok. To reach the top of the rock there are nearly 300 stairs to climb. During the high season you can find a variety of cultural events there. Very popular are night visits that include theatre performances and eerie events.

Dobšinská Ice Cave

With a total length of nearly a mile, total ice volume of 360,892 cubic feet and maximum ice thickness of 86.94 feet, the sheer size of Dobšinská Ice Cave – essentially a vast frozen underground lake — is guaranteed to impress. Formed 7,000-9,000 years ago, the “Ice Hole”, as it was called, was long known to locals. In the 18th century bear bones were found there and believed to be dragon bones. In 1870 explorers officially discovered the cave, and it was opened to the public the following year. Dobsinska was the first cave in Europe illuminated by electric light. Best time to visit is spring or early summer. With all that ice, be sure to wear something warm and bring sturdy shoes/boots with non-skip soles.

River Orava

River Orava in the Orava region belongs to the cleanest rivers in Slovakia, but after many floods it was necessary to built the Orava reservoir that is located in the northern part of the country. It has been built between 1941 and 1953 and with its area of 35,2 km2 it is the biggest lake in Slovakia. Orava dam is an important touristic center offering great services for holiday lovers. Tourists are mostly visiting the southern part of the reservoir as the two best equipped resorts in the area are located there: Slanická osada and Goral hotel.

Visitors can choose from many types of restaurants, hostels, hotels, car-camping sites, sport facilities, sport equipment rentals. Sightseeing tour by boat is definitely an unforgettable experience; the tour takes place four times a day. There is a huge amount of other opportunities especially during the summer season starting in the middle of June and ending at the end of September.

Sunny Lakes

Sunny Lakes (Slnečné jazerá) are situated in town Senec 25 km south-west from Bratislava. It was built in 1845 by excavating gravel that was mined by Hungarian Building Railway Administration (Slovakia was part of the Hungarian Monarchy that time) in order to build a railway from Bratislava to Galanta. They created 5 independent water entities, later they joined one huge reservoir with the area of 116 hectares and depth of 12 meters.

One of the most famous resorts in Slovakia belongs to the best ones not only because it offers all types of accommodation, but also many sport facilities. Visitors can choose from many water sports options – boat rentals, water bicycles, water slides and more. People who don’t like water that much can play golf, tennis, squash, bowling, mini golf or table tennis.

Štrbské Pleso

The highest located settlement in the Tatras – Štrbské Pleso offers 9 kilometres of easy to medium difficult ski tracks on southern slopes of Mt. Predné Solisko, which are popular with families, children but also experienced skiers. There are ski and snowboard rentals, ski-services and ski schools for beginners in the area too. Enjoy the highest standard of services in a peaceful and harmonious resort.

Štrbské Pleso attracts with great skiing conditions on well-groomed tracks for slalom, downhill and cross-country skiing as well as a high level of services. This winter season, skiers will be able to enjoy more than 2 km of new slopes with artificial snow. Lovers of cross-country skiing can use 26.5 km of tracks. Night sledging cannot be missed! And adrenaline fans should pay a visit to an exciting snow park. Štrbské Pleso is the highest located ski resort in Slovakia offering magical atmosphere thanks to a rich history, luxurious hotels.

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INVESTMENT IN SLOVAKIA

Dear friends,

In the following text you will find the most necessary information needed for investors who want to know about investing in the Slovak Republic. It will take you through the opportunities, the whole process and the administration that is needed.

Our Arab-Slovak Chamber of Commerce, Industry and Agriculture

is located at

Andrusovova 9, 851 01 Bratislava, Slovakia

Office: +421 220 772 168   Mobile: +421 905 726 349

Email: office@ascc-chamber.com |

Website: www.ascc-chamber.com

 

Slovakia:

The population is over 5 million and the area has 49,000 square kilometers.

Slovakia borders the Czech Republic and Austria, Poland, Ukraine, Hungary.

The largest city is Bratislava and is the capital of the Slovak Republic and the second largest city is Kosice. Slovakia is a member of the European Union, the Eurozone, the Schengen area, NATO, the United Nations, and others. The official language is Slovak.

Slovakia is a high-income economy. With the highest sustainable GDP in the EU, it states 10.4% in 2007 and the highest rating of the V4 countries. Slovakia has been a member of the EU since 2004 and adopted the Euro as its currency in early 2009. The capital, Bratislava, is the largest financial center in Slovakia. Unemployment is falling sharply, thanks to investments by foreign investors.

The euro area is an economic and monetary union (EMU) of 18 EU member states, which has adopted the euro (€) as its common currency and the only legal tender.

The euro area consists of:

Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Other EU countries (except the United Kingdom and Denmark) are required to join when they meet the criteria. No state has left or been expelled. Monaco, San Marino, the Vatican City State and Andorra have a formal agreement with the EU to use the euro as their official currency and to issue their own coins. Countries other than Kosovo and Montenegro have adopted the euro unilaterally, but these countries do not formally form part of the Eurozone and are not represented in the ECB or the Eurogroup.

The most important factors for foreign investors are: location, location, location.

Foreign investors investing in Slovakia can benefit from the strategic geographical location of the country. As the country is located in the middle of the continent of Europe, investors have easy access to other shopping centers in the EU and thus expand trade relations.

TRANSPORTATION

Relations between the Slovak Republic and its neighbors can be divided into bilateral and multilateral. Together with Slovakia, the four neighboring countries (Czech Republic, Poland, Austria and Hungary) are members of the European Union and the Schengen area. This means that people and goods can easily cross the border without passport control. A passport or visa is only required to cross the border with Ukraine.

Slovakia belongs to the community of four Central European countries called the Visegrad Group-Four (V4). V4 members are Slovakia, Czech Republic, Hungary and Poland. The goal of the Visegrad Four is to promote common interests in the process of European integration and the transition of these economies.

 CZECH REPUBLIC

Borders of Slovakia) 252 km) with the Czech Republic are on the western side of the country. The fact is that Slovak culture, population and language are very similar to Czechs.

There is a mixed population here. More than 320,000 Slovaks study or work in the Czech Republic (mainly in Prague), there are practically no language barriers. Thanks to the common past of these two countries, they have strong cultural and economic relations.

 AUSTRIA

 Despite the fact that the Slovak-Austrian border is only 91 km long, Austrian-Slovak relations have a rich history.

Austria was the only EU neighboring country to Slovakia and in 1996 was the largest foreign investor in Slovakia and at the same time strongly supported the integration of the Slovak Republic into the EU. In the meantime, the total import of Austria to the Slovak Republic is in 4th place and the export of the Slovak Republic to Austria is also in 4th place.

 HUNGARY

 The border with Hungary is 677 km long. Since the beginning of the founding of Slovakia, both countries have had good relations. Hungary is one of the most important goals of the countries, total exports from Slovakia to Hungary represent 7.2%.

A large Hungarian minority (9.5%) lives next to the Slovak-Hungarian border. In Komárno (Slovak town in the south, on the right at the border). There is even a university where he teaches and studies in Hungarian – J. Selye University.

 UKRAINE

Ukraine is the only European country with which Slovakia shares a border. The border is 97 km long. At present, Ukrainians welcome any initiative by Slovakia to share the experience of the EU accession process.

POLAND

 The Polish border with Slovakia is 444 km long.

Poland and Slovakia have very similar economic and security systems. Mutual trade is 25% and growing. Poland is

ranked in the top five business partners of Slovakia.

LABOUR MARKET

WHAT MAKES SLOVAKIA DIFFERENT? WHAT SETS SLOVAKIA APART?

LOW WORK COSTS AND HIGH WORK PRODUCTIVITY.

SLOVAKIA IS FULLY HIGHLY QUALIFIED AND TECHNICALLY SKILLED WORKERS. FOREIGN INVESTORS INVEST IN DIFFERENT SECTORS OF THE COUNTRY.

Slovakia is one of the regional leaders in terms of labor productivity expressed either as hours worked or per person employed. Labor productivity is expressed as GDP per hour worked. Compared to the Czech Republic, Poland, Hungary, Romania and Bulgaria, Slovakia holds the first and second positions in labor productivity throughout its duration.

The minimum payout in Slovakia is set at € 352 per month, the average salary for 2014 is € 861 per month. The unemployment rate in 2014 increased to 13.3% after a period of declining unemployment.

EURO

Since 1 January 2009, when Slovakia joined the EU, it has accepted the Euro as its currency, risking a loss in business due to differences in currency conversion were negligible. The euro is a strong and globally accepted currency. This is a great benefit for foreign investors investing in the country.

FOREIGN INVESTORS

This has been a growing trend in recent years. In 2006, foreign investment in the country was $ 30.3 trillion, accounting for more than half of the country’s GDP (55%). In 2007, GDP increased by 10.4%. Market analyzes predict that the trend in GDP in Slovakia is generally set at growth at a consistent pace for the next few years. Foreign investors investing in the country will receive valuable returns on their investments.

Scope Project name Duration at start of revenue Expected revenue

5,000EUR – 50,000EUR Agency with car rental 2-3 months Up to 35% per year

50,000EUR – 250,000EUR Restaurant 6 months Up to 48% per year

250,000EUR – 1M EUR Technology Center 2 years Up to 60% per year

INCENTIVES

The main investment incentive is to promote the economic development of certain disadvantaged areas in the Slovak Republic focused on specific regions in order to eliminate regional disparities and to help the development of disadvantaged regions by supporting investment and job creation.

FORMS OF INVESTMENT PROJECTS AND THEIR CONDITIONS

ELIGIBLE PROJECTS

The Investment Aid Act divides projects into four categories that can be supported:

• industry
• technology centers
• shared service centers
• tourism

COMMON CONDITIONS FOR ALL CATEGORIES ARE:

• There are incentives to start a new entity as well as to expand an existing entity
• At least 50% of the minimum investment must be covered by the investor’s equity
• Work on the project cannot start before the Ministry of Economy approves to provide assistance
• The beneficiary can only be a Slovak entity
• The investment plan must be submitted in Slovak
• There is no legal right to receive an investment incentive
• The minimum amount of investment in industry depends on the level of unemployment in the proposed area.

At least 60% / 50% / 40% of eligible costs (according to unemployment in a specific region) must be used to acquire new machinery and equipment.

The minimum amount of investment in technology centers and shared service centers does not depend on the level of unemployment in the proposed area.

The conditions are as follows:

• Half of the minimum investment (eg EUR 5 million / EUR 2.5 million) must be financed from the investor’s equity
• 40% / 20% of eligible costs must be used for the acquisition of new machinery and equipment. The minimum amount of investment in tourism again depends on the level of unemployment in the proposed area.

TECHNOLOGICAL CENTERS

• The minimum investment is EUR 500,000 in fixed assets
• At least EUR 200,000 must be covered by own property
• The company must employ at least 60% of employees with a university degree

SHARED SERVICES CENTERS

• The minimum investment is EUR 400,000 in equipping fixed assets
• At least EUR 200,000 must be covered by own property
• The company must employ at least 30% of employees with a university degree

FORMS OF STIMULES

• Cash grant
• Partial tax relief
• Contribution to new posts
• Transfer of state / municipal property to the investor at a discounted price

ELIGIBLE COSTS

• Land acquisition costs
• Costs of acquiring buildings
• Costs of acquiring technological equipment and machines
• Intangible fixed assets – licenses, know-how, etc.

NEEDED DOCUMENTS

FOR COMPANY REGISTRATION

MAKE IN HOME COUNTRY:

• Prepare the following:

o Copy your passport + [ID card if you already have a card for your stay in Europe

o Company formation form (our representatives will hand it over to you)

• Issue a power of attorney at the law firm to establish the company.

o The power of attorney will be issued at the embassy of the Slovak Republic, which covers the country of your residence / nationality.

Schedule the following in English and in writing:

• Shareholders, appointed directors, how shareholders will cooperate and act in the company.
• Company activities.
• Company name.
• Registered office (Address) [This can be a leased place, a property owned, a statement that the property owner agrees to register your company at the address of his property, a leased virtual postal address].
• Distribution list of shares [minimum 750 euros per shareholder, minimum capital is 5,000 euros for the company].
• Each Managing Director [Slovak language] (manager) must have a residence permit (permanent residence or temporary residence for business purposes) in Slovakia.
• • EU citizens do not need to stay in Slovakia.
• • The amount of the investment and the name of the person who will put it in the bank. [Amounts due are in the payments section below].

THE SHAREHOLDERS GAIN A STAY IN SLOVAKIA

• The decision on the application is usually taken by law within 90 days, and this period may be extended in exceptional cases.
• The stay requires an interview with the Foreign Police, in which the shareholder must attend himself and a business visa will be issued to the shareholder on the basis of company documents.
• Criminal record from your country + (country of residence, if any) [Please note that the criminal record must be super legalized in Slovakia]
• The residency process will start AFTER the company registration process is completed

COUNTRY PAYMENTS (FOR COMPANY REGISTRATION, FOR OBTAINING OF RESIDENCE).

PAYMENTS TO THE COUNTRY (FOR COMPANY REGISTRATION, FOR RESIDENCE

FOR COMPANY REGISTRATION

• Minimum investment amount EUR 5,000 – no need to deposit into the company’s bank account.
• 5 EUR for each selected activity – if you decide to select more than 5 activities.
• Count on 200-300 Euro stamps and forms

FOR OBTAINING A STAY IN SLOVAKIA

• EUR 20,000 on the company’s account (can be spent after the residence permit has been issued)
• 3,500 euros to your personal account in Slovakia to cover your stay for 1 year (refundable after issuing a residence permit)
• If you do not have international health insurance, you must have health insurance in Slovakia with a cost of 50 euros, which is paid monthly after obtaining a residence permit.
• If you want to work in your company in Slovakia and you have social insurance, count on at least 120 Euros in monthly contributions to the social insurance company.