With a significant potential for GDP growth, the ICT sector plays a significant role in the Slovak economy. Due to business advantages and tax incentives, the ICT industry has become an attractive destination for foreign investments. The ICT industry in Slovakia is acknowledged for the highest average wage and for a low unemployment rate. If you want to open a tech company in Slovakia you should be aware of the constant development of new technologies and the constant reduction of prices.
Our experts in company formation in Slovakia can tell you more about the foreign investment legislation applicable in the ICT sector.
2.3% of the total employment in Slovakia is generated by the ICT sector and a 4.6$ contribution is brought to the country`s GDP in 2015. These figures have turned the ICT industry in one of the most attractive investment sectors in Slovakia. Setting up a tech company in Slovakia has to be done in accordance with the commercial legislation. We provide you with a description of the main steps to take in order to open a tech company in Slovakia:
• Choose a name for the company - apply for a name certificate with the Commercial Register held by the District Court;
• Decide on the type of business entity you want to set up;
• Draft and notarize the articles of association and all related documents;
• Open a bank account and pay the registered capital;
• Apply for licenses and permits with the District court;
• Register the company for tax purposes, pension funds, healthcare and unemployment insurance.
Our Slovak company formation agents can assist you throughout the entire process of setting up a tech company and can register it on your behalf.
The ICT sector in Slovakia has the highest average wage out of all monitored sectors, with a constant increase during the last five years. The sector is characterized by large numbers of self employed individuals and small companies with one to three employees. The ICT sector in Slovakia remains one of the most important export sectors in Slovakia. The products of the ICT sector in Slovakia are:
• Monitors and TVs;
• Computers and hardware;
• Biometric software for identity management.
Significant investment incentives are promoted by the local government for the ICT sector in Slovakia. Among these we mention: eligible costs (land acquisition, costs of new technology and machinery purchasing), tax relief, contribution for the creation of new jobs and discounted price for property transfer from the municipality to the investor.
If you want to set up a tech company in this jurisdiction and need professional help in company formation, don`t hesitate to contact our team of company registration specialists in Slovakia.