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Buying real estate in Slovakia may seem like a fairly simple task, but in practice, it involves a number of potential risks. Here are the main ones: Legal purity of the property. Before the transaction, ensure that the property is not encumbered by liens, legal disputes, or other obligations; the seller is indeed the rightful owner of the property. Hidden defects. The property may have technical or structural flaws that are not immediately visible, such as mold, communication defects, or unauthorized alterations. Incorrect purchase agreement. The contract may con...

A power of attorney is an official document that allows one person to delegate their authority to another person to perform certain actions on their behalf. It may be needed to sign contracts, when applying to government agencies, to obtain documents, in the course of doing business, to resolve issues abroad. A power of attorney can be general: it provides a wide range of powers, including property management; special: it is intended to perform a specific action; notarial: for real estate transactions and a number of other operations. To formalize a power of attorney in Slovakia, you need to ...

Seasonal employment is employment that does not exceed 180 days within 12 consecutive months and depends on a specific time of year when the volume of work in a particular sector increases (agriculture, forestry, fishing, industry, construction work and accommodation and food services). If a citizen of a non-EU country does not need a visa, he/she only needs to obtain a work permit. It is issued by the local Department of Labor, Social Affairs and Family. The work permit is granted for a period of up to 90 days within 12 consecutive months. The employer is obliged to notify the labor exchange...

The law reliably protects the rights of pregnant employees, but there are exceptional circumstances in which termination of an employment contract is still possible: Liquidation of the enterprise. If the company ceases its activities, employment contracts with all employees, including pregnant women, are subject to termination. Probationary period. If a pregnant employee fails to complete the probationary period, dismissal is permitted. However, it must comply with strict legal requirements. Fixed-term employment contract. If the employment relationship is formalized for a certain period, it ...

In Slovakia, the use of an electronic cash register system (e-kasa) is mandatory for entrepreneurs who accept cash or bank card payments for goods and services. This applies to both individuals and legal entities engaged in business activities. Areas where e-kasa is mandatory: Retail trade: all companies and sole proprietors selling goods to final consumers. Services: restaurants, cafes, hotels, hairdressers, fitness centers, taxis and other similar businesses. Online retailers: entrepreneurs who sell online where cash on delivery is accepted. Rentals and Hire: Companies that provide cars for...

All citizens residing in the territory of the Slovak Republic must pay mandatory taxes, including the transport tax. It has the following features: The tax rate is the same for the whole of Slovakia. One tax return is filed for the entire country. Only legal entities and individual entrepreneurs submit tax returns. The tax return is filed every year before the end of January. The tax is paid on the basis of a tax return submitted before the end of January. The tax amount depends on the following characteristics of the car: passenger car, truck, trailer, bus, electric vehicle, etc.; age (the o...

The migration process is always associated with certain difficulties. But there is no need to be afraid, many people go through this. Over time, you will adapt and become part of the new society. The speed of assimilation largely depends on the newcomer. Being at home in another country does not mean losing your own cultural identity. In Slovakia, they respect foreign traditions, giving foreigners the opportunity to preserve their own culture. Your value does not depend on where you live. You have the power to become in demand and needed anywhere. To quickly adapt to life in a new environment...

From 1 January 2025, the minimum monthly wage in Slovakia will increase to EUR 816 (gross), which is EUR 66 more than in 2024. The hourly minimum wage will be EUR 4.69. The minimum wage depends on the number of working hours per week: 40 hours (single shift): 4.69 EUR/hour, 38.75 hours (two-shift): 4,841 euros/hour, 37.5 hours (three-shift): 5,003 euros/hour. These changes were introduced automatically in accordance with the law, which pegs the minimum wage to 57% of the average wage for the two previous years. In the future, from 2026, it is planned to increase this share to 60% to further i...

From 1 January 2025, new rules for VAT payer registration will come into force in Slovakia, providing for two registration thresholds: €50,000: If a company's annual turnover exceeds this threshold for a calendar year, VAT registration becomes mandatory from 1 January of the following year. 62,500 EUR: If this limit is exceeded, registration becomes mandatory immediately during the current calendar year. The changes are aimed at simplifying tax administration for small and medium-sized enterprises. The threshold is now calculated for the calendar year, rather than the previous 12 months. In a...

Starting January 1, 2025, new rules for the tax bonus for children will be introduced in Slovakia. For children under 14 years old, the bonus amount will be €100 per month, and for children aged 15 to 17, it will be €50. The bonus will be canceled for children over 18 years old. Now, the amount of the tax bonus will depend on the number of children in the family: for one child — up to 29% of taxable income, for two children — up to 36%, for three children — up to 43%, for four children — up to 50%, for five children — up to 57%, and for six or m...

Most often, foreigners in Slovakia change their residence permit status to entrepreneurial. This is possible if they have a private enterprise or a company. To apply for a change in the purpose of a residence permit, you must provide an application, a photo, a bank statement from a company account, a statement from an individual entrepreneur account, a statement from a personal account, and registration in Slovakia. You must pay the state fee, the production of a plastic card, and a courier. The Foreign Police considers the change of status within three months. After receiving a residence per...

Some banks in Slovakia may close foreigners' accounts at their own discretion if they deem the client to be insufficiently reliable. Other banks prefer to keep clients as long as possible by charging a fee for account maintenance. Closing an account in SR is not difficult according to the law. To do this, you need to personally visit the branch of the bank where the account was opened and submit a corresponding application. A fee for closing an account may only be charged if this is stipulated in the terms of the service agreement. If you want to close an account in Slovakia while abroad, you...

Anyone applying for a residence permit in Slovakia must register. Registration can be done in any city in SR. The main requirement of the immigration police is that the visitor actually lives at his registered address. Every foreigner is obliged to be at his registered address for at least 183 days a year. If the place of residence has changed, you must submit documents to change the address of residence to the police within five days. Registration in Slovakia includes the name and surname of the owner, year of birth or identification number, address of the owner's permanent residence, number...

Equivalence of grades is a document that Slovak universities require from foreign applicants. The document contains information about the academic level of the applicant at school. In Slovakia, 1 point is the highest level (excellent), and 5 is the lowest (unsatisfactory). Each faculty of various universities in Slovakia sets its own requirements regarding what academic credits should be used to issue grade equivalence. Most often, this refers to transcripts of results for the last 3-4 years of study or an appendix to the certificate. To correctly process the conversion of grades at the reque...

Buying someone else's LLC in Slovakia may seem like a quick and convenient way to start a business, but this path is associated with a number of significant risks that are important to consider: Financial obligations. When you buy someone else's LLC, you take on not only the assets, but also all of the company's debts: loans, unpaid taxes, fines, and other debts. A full check of the company's financial history can be difficult. Reputational risks. The company may have hidden reputational problems, lawsuits or conflicts with counterparties. This may negatively affect your future relationships ...