Slovakia

The ISO code of Slovakia is SK according to the ISO 3166 standard. The local name of the country is Slovensko. Slovakia capital city is Bratislava. People in Slovakia speak the Slovak language. On 14 March 1939, Slovakia emerged as a sovereign political entity. In the year 03/14/1939, Slovakia emerged as a sovereign political entity. The largest city in Slovakia is Bratislava.

Slovakia is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Slovakia is .sk. Other domains assigned to Slovakia are .eu. The domain name .eu is available for use by organizations in and residents of European Union member-states. The International dialing code for Slovakia is 421. People in Slovakia drive on the right side of the road. Total land area of Slovakia is 49,035 km² (approx. 18,932 mi²). Slovakia is a landlocked country.

Slovakia is located in Europe. Slovakia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Slovakia faces various issues, including air pollution from metallurgical plants presents human health risks, acid rain damaging forests.

Doing business in Slovakia

We offer various corporate services in Slovakia jurisdiction. These services can serve both, people coming from Slovakia and foreigners. If you plan on doing business in Slovakia you might be interested in contacting us.

To find out about starting your business in Slovakia click on company formation in Slovakia.

To find out how to open a bank account in Slovakia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Slovakia.

Choose preferred service below or continue reading to find out more about Slovakia.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Slovakia

The total population of Slovakia is 5,449,816 people. In Slovakia, the population density is 110 people per square kilometer (286 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is diverse according to a fractionalization scale which for Slovakia is 0.2539. Slovakia has approximately 177190 foreign immigrants. The median age is approximately 39.2 years. In Slovakia, 80 in every 100 people use internet. Slovakia has a Human Development Index (HDI) of 0.83.

The majority religion of Slovakia is Christianity, Slovakia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Slovakia.

Culture of Slovakia

People in Slovakia speak the Slovak language. According to data on inbound tourists in Slovakia, 7,000,000 tourists arrive in the country each year. The first McDonalds in Slovakia was opened on 14 October 1995, and it was located in Banská Bystrica. One of the most popular national dishes of Slovakia is bryndzové halušky. To read more click on culture of Slovakia.

Geography of Slovakia

Slovakia is considered to be a large nation because of its total area. Its total land area is 49,035 km² (approx. 18,932 mi²). Slovakia is located in Europe. Its capital city is Bratislava. Slovakia has 5 neighbouring countries. Its neighbours include Austria, Czech Republic, Hungary, Poland, and Ukraine. Total length of land borders of Slovakia is 1611 kilometers (~622 miles).

The highest point of Slovakia is Gerlachovský štít, with its official height being 2655 m (8,711 ft). Including land mass and EEZ, the total area of Slovakia is approximately 49,035 km² (~18,932 mi²). The most notable natural resources found in Slovakia are lignite, iron ore, copper, manganese, salt, arable land.To read more click on geography of Slovakia.

Economy of Slovakia

The currency of the country is euro. The symbol used for this currency is €, and it is abbreviated as EUR. 7.5% of population in the country are unemployed. The total number of unemployed people in Slovakia is 408,736. Each year, Slovakia exports around $82.7 billion and imports roughly $77.96 billion. The Gini Index of the country is 25.3. Slovakia has a Human Development Index (HDI) of 0.83.The Global Peace Index (GPI) for Slovakia is 1.478. Slovakia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are automobiles, metal and metal products, electricity, gas, coke, oil, nuclear fuel, chemicals, synthetic fibers, wood and paper products, machinery, earthenware and ceramics, textiles, electrical and optical apparatus, rubber products, food and beverages, pharmaceutical.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Slovakia is $153,195 billion. Each year, consumers spend around $27,238 million. The ratio of consumer spending to GDP in Slovakia is 0%, and the ratio of consumer spending to the world consumer market is 0.0785. The corporate tax in Slovakia is set at 22%. Personal income tax ranges from 19% to 25%, depending on your specific situation and income level. VAT in Slovakia is 20%. To read more click on economy of Slovakia.

Infrastructure of Slovakia

Infrastructure quality in Slovakia is rated to be at 3.22. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Slovakia, 100% of the population has access to electricity. There are 1,384,000 internet hosts in Slovakia. Slovakia has 35 airports nationwide.

The logistics performance index of Slovakia is 3.25. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 3.02. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Slovakia is 512. To read more click on infrastructure of Slovakia.

Politics of Slovakia

Slovakia, is a parliamentary republic. With regard to political and civil freedoms, Slovakia is 1. Citizens in Slovakia experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Andrej Kiska.

According to the World Bank Group, the government effectiveness index of Slovakia is 0.87. This indicates that the government of Slovakia is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.In Slovakia, the legislative power is vested in a National Council. The Global Peace Index (GPI) for Slovakia is 1.478. The strength of legal rights index for Slovakia is 7. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. Slovakia is a member of the United Nations (UN). On 19 January 1993, it joined the UN as a full member state. Slovakia is a member of the European Union (EU). On 19 January 1993, it joined the EU as a full member state. Slovakia is a member of the World Bank. To read more click on politics of Slovakia.

Environment of Slovakia

Slovakia emits 6.4 metric tons per capita of CO₂. 20006 km² of Slovakia's territory is covered in forests. and forest land comprises 41% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Slovakia is 512. To read more click on environment of Slovakia.

Company formation in Slovakia

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Slovakia.

When establishing a company in Slovakia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Slovakia that will affect the establishment and growth of one's business. Contact us or click on company formation in Slovakia to read additional information when setting up a business.

Bank account opening in Slovakia

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Slovakia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Slovakia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Slovakia or contact us.