Expand your organization into Slovakia, with or without a Slovakian entity
Slovakia, officially known as the Slovak Republic, is an exciting country with a rich culture and a growing economy, making it a fantastic destination for foreign businesses to expand.
If your organization is planning an expansion into Slovakia, then you should be prepared for potential delays. The local regulations are often difficult to navigate, and the language and cultural differences can cause issues for those unfamiliar with the country and its customs.
At New Horizons, we offer a full suite of business services to help organizations expand into Slovakia. Our professional employer organization (PEO), payroll, and employ of record (EOR) services give you the ability to outsource all the difficult administration and compliance work so you can focus your efforts on a successful expansion.
As the only global PEO with an in-house recruitment team, we can also take care of the sourcing, hiring, and onboarding of your Slovakia workforce, along with any associated HR and legal compliance work. Our bespoke services can save you thousands in expansion costs.
Why choose New Horizons?
New Horizons enables your business to expand its operations into Slovakia, even without setting up a legal subsidiary.
Rapid Market Entry
New Horizons will enable you to source, hire, and onboard professionals across Slovakia in as little as 48 hours.
Cost-Effective Expansion
Our PEO solution can help you benefit from cost savings of up to 85%, without the need to establish a Slovakian entity.
Payroll Outsourcing
Simplified Slovakia salary & payroll processing, including social security payments, tax, and any other required contributions.
Employee Onboarding
Utilize the relevant provision for all types of Slovakian labor contracts, whether a fixed-term or open-ended contract.
Onsite Legal & HR Team
Full support for Slovakia-specific contract renewals, terminations, annual leave management, HR, and strategic guidance.
Ensure Full Compliance
We ensure that employment contracts are fully compliant and adhere to Slovakia’s labor laws and best practices.
Hiring in Slovakia: Employment law overview
Employment contracts in Slovakia
In Slovakia, it is a legal requirement to produce written contracts of employment for all of your employees. These contracts should be written in Slovakian, use the Euro currency, and include details such as salary, parental leave, vacation allowance, and any other relevant details.
Working hours in Slovakia
The normal working week in Slovakia is 40 hours. Including overtime, a week cannot usually exceed 52 hours.
Public holidays in Slovakia
Date | Description | 1 Jan | Republic Day |
|---|---|
6 Jan | Epiphany |
20 Mar | March Equinox |
25 Mar | Struggle for Human Rights Day |
10 Apr | Good Friday |
12 Apr | Easter Sunday |
13 Apr | Easter Monday, Unfairly Prosecuted Persons Day |
1 May | Labor Day |
4 May | Anniversary of the Decease of M. R. Štefánik |
8 May | End of World War II |
7 Jun | Anniversary of the Memorandum of the Slovak Nation |
20 Jun | June Solstice |
5 Jul | St. Cyril & St. Methodius Day, Foreign Slovaks Day |
17 Jul | Independence Day |
4 Aug | Matice Slovenska Day |
29 Aug | National Uprising Day |
1 Sep | Constitution Day |
9 Sep | Day of the Victims of Holocaust and of racial violence |
15 Sep | Day of Our Lady of Sorrows |
19 Sep | Foundation of the Slovak National Council Day |
22 Sep | September Equinox |
6 Oct | Dukla Pass Victims Day |
27 Oct | Černová Tragedy Day |
28 Oct | Establishment of the Independent Czecho-Slovak State |
29 Oct | Birth of Ľudovít Ŝtúr Day |
30 Oct | Anniversary of the Declaration of the Slovak Nation |
31 Oct | Reformation Day |
1 Nov | All Saints’ Day |
17 Nov | Fight for Freedom and Democracy Day |
21 Dec | December Solstice |
24 Dec | Christmas Eve |
25 Dec | Christmas Day |
26 Dec | St. Stephen’s Day |
30 Dec | Day of the Declaration of Slovakia as an Independent Ecclesiastic Province |
Vacation leave in Slovakia
Employees in Slovakia are usually provided with four weeks of paid vacation leave.
Sick leave in Slovakia
Employees in Slovakia are legally entitled to sick leave with pay. The amount of compensation varies, with the first three days of absence being covered at 25% of normal pay, days four to ten covered at 55% (paid by the employer), and days 11 onwards covered at 55% (paid by the government).
Parental leave in Slovakia
Mothers in Slovakia are entitled to 34 weeks of paid maternity leave (37 weeks for single mothers). This generally starts between six and eight weeks before the birth date, and at least 14 weeks of leave must be taken.
Male employees can usually take leave from the birth date until the mother returns to work, and the parents may be able to take parental leave until the child is three years old.
Terminations and severance in Slovakia
Employees in Slovakia are entitled to two months of notice upon termination. They may also be entitled to severance pay, for example, if they are made redundant, or if the company is dissolved.
The payment should be between four and ten times the average monthly earnings, depending on how long the employee has been with the company and the context of the termination.
Taxation in Slovakia
Employers in Slovakia must contribute 35.2% of salaries toward the country’s social security program. Employees are required to contribute 13.4%. The social security program funds things like sick pay, unemployment insurance, and healthcare.
The income tax rate in Slovakia is 19% to 25%, depending on income level.
The corporate tax rate in Slovakia is 21% for companies with revenues exceeding €100,000 per year.
Health coverage in Slovakia
Healthcare is provided by the Slovakian government, so health insurance is not required as part of employment benefits packages, but some employers may choose to provide it anyway.
Slovakia compensations & benefits
Compensation laws in Slovakia
The national minimum wage in Slovakia is €580 per month for full-time work.
Benefit management in Slovakia
Setting up your Slovakian benefits system as a foreign employer is a complicated process. The laws are complex, and various procedural differences need to be taken into account, which can make it a lengthy and expensive process.
Outsourcing your Slovakia benefits management to New Horizons is a fast, simple, and effective way to get everything up and running in full compliance with local laws.
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New Horizons will help you expand your business into Slovakia more efficiently
New Horizons’ Slovakia PEO, employer of record, and payroll services can provide your organization with everything you need to start trading in Slovakia. We can help you commence operations in Slovakia in as little as 48 hours, and could save you over 80% in expansion costs, even if you don’t have a registered entity in the country.
Our team will handle all of your expenses, payroll, legal compliance, and more in Slovakia, as well as any ongoing human resources work. And as the only global PEO with a dedicated in-house recruitment team, we can also find and hire your local workforce in Slovakia, using our Slovakian subsidiary as employer of record for your employees so you don’t even need to register a Slovakian entity.
Contact our Slovakia experts today to find out how our custom outsourcing services can help you to seamlessly expand into Slovakia.
