Slovakia: Operating a Business

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: Liability is limited to the shares.
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.
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: The liability of the active partners is unlimited. The liability of the silent partners is limited to the amount of capital contributed.

Setting Up a Company	Slovakia	Eastern Europe & Central Asia
Procedures (number)	7.0	5.3
Time (days)	21.5	11.8

Source: Doing Business.

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

	2018	2019	2020
Labour Force	2,754,062	2,749,141	2,722,540

Source: International Labour Organization, ILOSTAT database

Source: International Labour Organization, ILOSTAT database

For Further Statistics: National Statistical Office
Ministry of Labour, Social Affairs and Family
For Further Information About the Labour Market: Slovakia country profile by ILO

Legal Weekly Duration: 40 hours a week, 8 hours a day and 150 hours a month.
A maximum of 48 hours a week and 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.
Labour Laws: Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

Minimum Wage: According to data from Eurostat, the minimum wage is EUR 623 per month in 2021.
Average Wage: In 2021, the average monthly gross wage is EUR 1,177 per month according to the National Office of Statistics of Slovakia.
Social Contributions: Social Security Contributions Paid By Employers: 35.2%
Social Security Contributions Paid By Employees: 13.4%.

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.
Labour Unions: Confederation of Unions in the Slovak Republic (KOZ SR)
Independent Christian Unions in Slovakia (NKOS)
Unionisation Rate: The rate of unionisation in Slovakia is around 13%.
Labour Regulation Bodies: Ministry of Labour, Social Affairs and Family
National Labour Office
Federation of Employers' Unions & Associations of the Slovak Republic (AZZZ)

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