Foreign Exchange Act to liberalise capital flows

Cabinet approved a draft revision to the Foreign Exchange Act on September 14, which amends a 1995 law and further liberalizes the movement of capital.

Finance Minister Brigita Schmögnerová said the draft is particularly important for Slovakia's chances of becoming a member of the OECD. Schmögnerová said the bill makes it easier for foreign legal entities to obtain real estate in Slovakia.

If the bill is passed by parliament, not only banks but also insurance companies, investment companies and trusts can become owners of Slovak real estate.

The bill also widens the range of foreign stocks that can be traded without permission on the Slovak capital market. Schmögnerová added that the bill cancels the limitation that an issuer should originate from an OECD member country.

By this revision, Slovakia's economy nears full convertibility of the Slovak crown.

Top stories

News Digest: Climate in Slovakia could be similar to Italy's in a few decades

Suburban transport in Bratislava Region to improve, registration for regulated parking in Bratislava launched, utility regulator announces price caps for 2022.

15 h
Waydanovský House, today Martineum, after reconstruction.

Historical house near Bratislava cathedral no longer needs to hide behind Van Gogh

The Waydanovský House, now Martineum, will serve as the background facility for St Martin's Cathedral. Take a look at how it looked in the past and now.

1. dec
Trenčín covered in Christmas lights on November 29, 2021.

Weekend: Ježiško's Christmas Post Office is open, expecting letters from around the world

Make yourself comfortable and explore what has been going on in Slovakia in the past days.

22 h

Culture Ministry looks to create ‘21st century environment’ for Slovak media

Transparency of ownership and financing among proposed overhaul of decades-old laws.

2. dec
Skryť Close ad