Slovakia: Operating a Business

Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Spolocnost rucenim obmedzenym is a Private Limited Company EUR 5,000. In case there is only one member, the whole capital must be paid. Otherwise, 30% of the capital must be paid.	1 to 50 partners No liability
Public limited company EUR 25,000 (10% must be released at the constitution)	No minimum. Liability is limited to the amount of capital contributed.
Verejna obchodna spolocnost is a general partnership No minimum capital.	Minimum 2 partners Liability is unlimited
Komanditna spolocnost is a limited partnership The deposit of the partner with limited liability must be at least USD 250.	At least one unlimited partner and one limited partner. 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

Source: Doing Business.

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

Legal Weekly Duration: 40 hours a week, 8 hours a day and 150 hours a year.
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.

Minimum Wage: EUR 250
Average Wage: Average monthly gross earnings in Slovakia is EUR 550.
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.
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 30%.
Labor Regulation Bodies: Ministry of Labor, Social Affairs, and Family (in English)
Federation of Employers' Unions & Associations of the Slovak Republic (AZZZ) (in Slovak)

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