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.

Get daily Slovak news directly to your inbox

Top stories

E-quarantine now possible via Apple phones (news digest)

Court proceeding over controversial cheques postponed and the police reportedly detained the head of the Bratislava ring-road constructor. Roundup of news from May 29.

The primary school in Prešov is preparing for reopening on June 1.

Gabčík and Kubiš were taken in by an English family while they prepared for the assassination of Heydrich

The Ellisons had no idea about Operation Anthropoid, which resulted in the assassination of the main Holocaust architect by Czechoslovak paratroopers.

The administrator of the Porchester Gate building in London, where the Czechoslovak military intelligence service was based during the Second World War and where secret agents planned Operation Anthropoid, shows photos of the event's executors - Jan Kubiš and Jozef Gabčík.

Slovakia-based US musician creates his 'Ghost Sex Empire'

Francisco Mejia and his debut album 'Ghost Sex Empire' prove that dreams are attainable after years.

American musician Francisco Mejia recorded his debut album 'Ghost Sex Empire' in Slovakia. He is already working on the concept of his sophomore record.

Coronavirus may ruin Slovakia's music clubs for good

Without help, another COVID-19 wave could be the final nail in the coffin.

Club goers listen to live music at the Stromoradie music club in Prešov in 2019.