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flag Slovakia Slovakia: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Spolocnost rucenim obmedzenym is a Private Limited Company
Number of partners: 1 to a maximum of 50 partners.
Capital (max/min): EUR 5,000, with a minimum of EUR 750 per shareholder. In case there is only one member, the whole capital must be paid. Otherwise, 30% of the capital must be paid.
Shareholders and liability: No liability.
Public limited company
Number of partners: No minimum.
Capital (max/min): EUR 25,000 (10% must be released at the constitution)
Shareholders and liability: Liability is limited to the amount of capital contributed.
Verejna obchodna spolocnost is a general partnership
Number of partners: Minimum 2 partners / shareholders.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is unlimited for partners and companies.
Komanditna spolocnost is a limited partnership
Number of partners: At least one unlimited partner and one limited partner.
Capital (max/min): No requierement. The deposit of the partner with limited liability must be at least EUR 250.
Shareholders and liability: Liability is limited for some partners and unlimited for others.
The Competent Organization
The trade register (in English).
Search a Company or a Financial Report
The Business Register, Ministry of Justice of the Slovak Republic
 
Setting Up a Company Slovakia Eastern Europe & Central Asia
Procedures (number) 6.0 6.0
Time (days) 16.0 14.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Slovakia.
Business Register

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The Active Population in Figures

20122013
Labor force 2,724,0002,727,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -59.50%59.30%
Men activity rate 68.50%68.00%68.10%
Women activity rate 51.20%50.90%51.20%

Source: UN - United Nations

 

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Working Conditions

Legal Weekly Duration
40 hours a week, 8 hours a day and 150 hours a month.
A maximum of 250 hours overtime a year can be done in agreement with the employee.
Retirement Age
In general, 62 for women and men.
Working Contracts
Employment contracts are regulated by legal clauses and to a lesser degree by collective agreements and individual negotiations.
The terms of employment contracts are rather rigid. They can be open-ended or of fixed duration (for a maximum of 3 years), part-time or full time.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
EUR 317 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: EUR 966 (source: ILO, 2011);
Gross average monthly wage of women: EUR 732 (source: ILO, 2011).
Social contributions
Social Security Contributions Paid By Employers: 35.2%
Social Security Contributions Paid By Employees: 13.4%.

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Social Partners

Social Dialogue and Involvement of Social Partners
After the fall of the communist regime, Slovak unions had to evolve because of political, economic and social changes. They had to
develop as powerful groups representing the workers and also the citizens, defending their interests in a market economy. The former official unions had to transform their internal structure to become autonomous and keep their members. Only a few unions have been created over the past ten years and only four of them still exist today. Only one union is strong enough to defend workers' interests at a national level and guarantee regular meetings with the government and employer organizations. The Confederation of Unions in the Slovak Republic (KOZ SR) is recognized at the national level as representing employees in three-party negotiations. Today the unions have wide negotiating powers. However, the rate of unionization is dropping.
Unions
Confederation of Unions in the Slovak Republic (KOZ SR)
Independent Christian Unions in Slovakia (NKOS)
Unionization Rate
The rate of unionization in Slovakia is around 30%.
Labor Regulation Bodies
Ministry of Labor, Social Affairs, and Family (in English)
Federation of Employers' Unions & Associations of the Slovak Republic (AZZZ) (in English)

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Last Updates: December 2014