A country in the middle of Europe, Slovakia offers a great deal of advantages to foreign investors who decide to set up companies
on its territory. With a fast-growing economy, this EU member can offer a stable legal environment, as well as access to EU funds. Also known as the "Tatra Tiger"
, Slovakia got the nickname from its fast-growing economy since 2001, which triggered a significant number of economic reforms. Slovakia had a GDP growth of 6.4% in 2008, which placed it second in rank as GDP growth in the European Union.
There are many reasons why a foreign investor should choose Slovakia:
Slovakia's favorable geographical location
1) Slovakia has a strategic geographical position due to which, the potential for export is substantial. This country’s convenient location has managed to create an economic connection between Eastern and Western regions of the European continent. Being the heart of Europe has secured its place on the export market, constantly trading manufactured goods, machinery, fuel, food and tobacco.
Most rapidly-ascending member of the Euro Zone
2) Another reason for forming a company in Slovakia would be the fact that this is the fastest growing member of the Euro zone and the country with the lowest external debt.
Stability in economy and politics
is a great place to start a business in
because it also offers economical and political stability
. Comparing to other countries, Slovakia has had a good political stability for the last two decades or so. For more details about Slovakia’s economy
, please contact our experts in company formation
The low labor costs of the Slovak Republic
4) This country has quite low labor costs and at the same time high labor productivity. Added to these two advantages, its workforce is highly skilled and adaptable.
Slovakia's currency - Euro
5) Another aspect that could persuade a foreign entrepreneur to startup a company in Slovakia
is its official Euro currency
. After using the Slovak Koruna for 16 years, in the year of 2008, the European Union agreed that Slovakia should enter the Euro zone. The advantage here is the easiness of trading (the hurdles of exchanging money are absent).
A fully-extended industry
6) The Slovak Republic has a highly developed industry, especially in sectors such as engineering and electro - energy and also a range of investment opportunities, including areas like electronics, pharmaceuticals and machinery.
Its fast-developing infrastructure
7) Last, the growing infrastructure of this country can also be considered a reason for investing in Slovakia and further improvements are planned for developing its railway system.
Therefore, if you want to start a business
in an European country, Slovakia represents a good option. For more information about the benefits of investing this country
and for assistance in the process of opening a company in Slovakia
, our local experts in company registration
can be of help.