Czechs own most of the Slovak firms with foreign capital

The number of firms with Czech capital is still increasing.

Illustrative stock photoIllustrative stock photo(Source: TASR)

Slovak companies with foreign capital are in most cases owned by Czechs, Hungarians and Austrians. The list of the top five foreign owners also includes Germans and Italians.

The Czechs control the majority of these firms: altogether 9,857.

“One of the reasons is that most companies were established at the time when we were one state,” explained Petra Štěpánková, analyst with Bisnode, as quoted by the SITA newswire. She added that there is also a nearly zero communication language barrier. “Czechs are still the most frequent owners, with hundreds of new Czech companies being founded in Slovakia every year.”

The number of Hungarian companies established in Slovakia is also increasing, with dozens of new ones being founded every year.

“One of the advantages is the territorial closeness of Hungary, as well as low corporate tax, nearly equalling a tax haven,” Štepánková said, as quoted by SITA. On the other hand, one of the disadvantages is a tougher “political regime”, she added.

Hungarians currently own 9,832 firms in Slovakia.

Number three on the list, Austria, owns fewer companies than the other two countries. It has shares in a total of 3,830 firms, which is only 27 more than last year.

In the case of German owners, the number of firms dropped by four compared with the previous year. They currently own 2,359 companies in Slovakia, Štepánková said.

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