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.