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Dominique Sigros
Head of International Desk Central and Eastern Europe

Support by the
Crédit Agricole group

Last updated: september 2021

The Crédit Agricole Group’s International Desk for Central and Eastern Europe, based in Vienna, provides support to the Group’s business clients in Slovakia to help them implement their operations on location, particularly opening accounts, and providing financing, information and banking advice.

To this end, it makes use the network of its local banking partner which has over 180 offices across the country and also offers a complete service to businesses.

For non-banking matters, the International Desk offers the support of local law and accounting offices and its partners as well as expertise in business internationalisation.

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Means of payment

With Slovakia

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common

Weak / None

Weak / None

Weak / None

Common

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Advice from the
international desk

General Information

Commercial interest in Slovakia has fallen over the past few years, with the big investment waves, particularly in the vehicle sector, having passed. There are, however, still opportunities in the service sector in particular.

The taxation system is highly favourable for businesses (corporate rate of 21% since 2017).

Slovakia is subject to European regulations. There are no longer any restrictions on the regulation of currency exchange and dividends can be repatriated without limit. ;

Means of Payment & Banking Specificities

Cash payment by SWIFT transfer before shipment is l recommended.

Bank cheques or cheques issued by businesses should be avoided. They are not used in Slovakia apart from by foreign banks that issue cheques in currencies payable outside of Slovakia.

The provision of an export credit agency backed financing or, potentially, an irrevocable and confirmed letter of credit may also be considered.

It is possible to confirm documentary credits in Slovakia. Any such commitment will be studied on a case-by-case basis in accordance with the counterparty, the duration of the documentary credit and the willingness to deal with the country’s risk rating.

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