Slovakia Country Guide 2022

Slovakia

The Slovak Republic is a landlocked country in Central Europe; it has beautiful natural landscapes, historical cultural sites and a steadily growing economy. People in Slovakia are very friendly, honest, and always willing to help; the cost of living is relatively low, especially real estate, and there is a decent amount of public transport.

Slovakia has a lot of employment opportunities, and is very open to new business; however, hospitality

is generally not up to par with the rest of Europe. There are a lot of different cultural activities available, and the country’s central location allows for visiting many European capitals by bus or train. The work-life balance is still developing in some places, which can lead to working overtime, however,  many companies are adopting new work traditions to combat this.

  • Capital: Bratislava
  • Spoken Languages: Slovak
  • Currency: Euro (EUR)
  • Minimum monthly wage: EUR 646.00 (Gross)

Entry Visa

Citizens of EU/EFTA Member States and Switzerland can enter Slovakia with an identity card or a valid passport; other foreign citizens may enter with a valid Schengen visa.

Work Permit / Residence Permit

Citizens of EU/EFTA Member States and Switzerland can live and work without a work or residence permit in Slovakia. However, the employer still needs to register their arrival with the authorities, and provide a confirmed address for tax purposes.

Other foreign nationals must acquire a work permit and a residence permit. The application for the work permit is done by the employer, provided they reported the job to the Labour Market and could not find a viable candidate from Slovakia within 20 working days.  Once the work permit has been approved, the employee needs to apply for a temporary residence permit; this should be done at their local Slovakian consulate before traveling to the country.

Once the work and residence permits have been received, the individual can enter Slovakia and begin their employment.

Social Security Registration

Registration with Social Security is done by the employer at any branch of the Social Insurance agency.

Working Hours

A standard working week in Slovakia is 8 hours/day, or 40 hours/week; the average weekly working time, including overtime, must not exceed 52 hours.

Public Holidays

  • 01 January (Day of the Establishment of the Slovak Republic)
  • 06 January (Three King’s Day)
  • Good Friday (Not a standard date, usually March/April)
  • Easter Monday (Not a standard date, usually March/April)
  • 01 May (Labour Day)
  • 08 May (Day of victory over fascism)
  • 05 July (St Cyril and Methodius Day)
  • 29 August (Slovak National Uprising Day)
  • 01 September (Constitution Day)
  • 15 September (Day of Our Lady of Sorrows)
  • 01 November (All Saint’s Day)
  • 17 November (Day of Freedom and Democracy)
  • 24 December (Christmas Eve)
  • 25 December (Christmas Day)
  • 26 December (St. Stephen’s Day)

Vacation Allowance

Full-time employees working in Slovakia are entitled to a minimum of 20 working days of annual leave per year; this is extended to 25 days from the age of 33. If the holiday is taken in multiple parts, one part must be at least 2 weeks long. Any leave that is not used by the end of the year is compensated monetarily.

Sick Leave

There is no official limit on the amount of sick leave in Slovakia, but the benefits paid depend on the length: 25% of the employee’s regular salary for the first 3 days, 55% for the next 7, and 55% from day 11 onward. The first 10 days are paid by the employer, the rest by Social Insurance.

Maternity / Paternity leave

Maternity: 34 weeks (37 for a single parent, 43 for multiple births). Minimum of 14 weeks, 6 of which must be after the birth. Employees are entitled to 75% of their monthly wage during this leave.

Paternity: 1 day for the birth. If the father is taking care of the child, they are entitled to the same amount of leave as a mother would.

Termination & Severance

After termination of employment, an employee is entitled to severance pay that is dependent on the years of service.

Length of EmploymentSeverance Pay
Up to 2 years0
Above 2 and until 5 years1 months’ salary
Above 5 and until 10 years2 months’ salary
Above 10 and until 20 years3 months’ salary
Above 20 years4 months’ salary

Notice Period

The notice period in Slovakia is dependent on the length of service.

Length of EmploymentNotice Period
Up to 1 year1 month
Above 1 and until 5 years2 months
Above 5 years3 months

Social Security

Employee social insurance contributions are deducted automatically from the wage, while employer contributions are paid by the employers themselves.

CategoryEmployer (%)Employee (%)
Social Security Contributions24,4%9.4%
Health Insurance10%4%
Injury Insurance0.8%0%

The maximum monthly insurable earnings on which Social Security Contributions are due is EUR 7,644. Health Insurance contributions have no cap.

Pension

Pensions in Slovakia are covered by Social Security, and everyone is eligible provided they have made at least 15 year’s worth of contributions.

Taxation

The Slovak fiscal year runs from January 1 to December 31.

Tax Rates

The following progressive rates apply for 2022.

Taxable Income (EUR)Total Tax (%)
0 – 38,55319%
38,554 +25%

Tax Returns

The annual income tax return must be filed by the end of March for the previous tax year, provided the taxable income exceeds EUR 2,255.72

Double Taxation

Slovakia has tax treaties with multiple other countries, which can reduce payable tax on certain incomes. In the case where Slovakia does not have a DTT with a foreign country, the employment income from that country that was taxed abroad is normally exempt from taxation in Slovakia.

Health Insurance

The Slovak public health care system runs on mandatory health insurance contributions, and everyone paying the contributions is eligible.

Cost of Living

The cost of living in Slovakia is relatively cheap compared to the rest of Europe. The estimated monthly cost for a single person is around EUR 1,000 – 1,300, with 500-600 going to rent, depending on the location.


How We Can Help

We provide a full set of services in Slovakia allowing corporate clients, recruitment agencies and professional contractors to operate in an optimal manner while ensuring that all local employment obligations are taken care of.

Access Financial offers the following solution in Slovakia:

  • Self-Employed Solution

If you would like to discuss how Access Financial can help in Slovakia, please contact us.

Disclaimer

WE HAVE PREPARED THIS AS A GUIDE ONLY; IT DOES NOT FORM PART OF AN OFFER. PLEASE REQUEST ILLUSTRATIONS BASED ON YOUR SPECIFIC CASE FROM ONE OF OUR SOLUTION MANAGERS.