Nearly 2,500 companies relocated from Slovakia

Most of them moved to neighbouring countries, consultancy company finds.

(Source: Sme)

A total of 2,389 companies decided to quit Slovakia and relocate abroad in 2017. Most often, these companies went to neighbouring European countries: to Hungary (622 companies), the Czech Republic (514 companies) and Bulgaria (129 companies).

Most of the companies left Bratislava Region, the SITA newswire writes, citing data on the departure of Slovak companies abroad published by the Bisnode consultancy firm.

Among the reasons for departing abroad the company included simpler conditions for doing business, more acceptable legislation, lower taxes, better courts, less corruption, lower payroll costs, and higher demand.

Desired destinations

“In the long term, Hungary and the Czech Republic are the countries where companies from Slovakia choose to relocate most often when they leave,” Petra Štěpánová, a Bisnode analyst, told SITA. “On the one hand, it is regional proximity, and in the case of Hungary it is specifically the very favourable tax burden. Entrepreneurs there pay a 9-percent tax while in Slovakia they pay a 21-percent income tax. The low tax burden of 10 percent can also be a plus for Bulgaria. Regarding the Czech Republic, the nonexistent language barrier is important, too.”

The top five most popular countries to relocate to from Slovakia includes Romania and Poland – mostly known for their lower labour costs.

“It is possible that some companies could have also considered this factor,” Štěpánová admitted in a press release.

The biggest number of companies left Bratislava Region (1,009), followed by Nitra Region (344). On the opposite end of the chart are Prešov and Trenčín Regions (94 both). One-fifth of all companies that left Slovakia in 2017 are active in wholesale and retail (506), in expert, scientific and technology activities (435) and administration and support activities (412), Bisnode reported.

Top stories

News digest: Fear of Covid vaccines behind low vaccination rate in Slovakia

PM does not expect national emergency to be declared. Romania toughens up rules for incomers from Slovakia. President will present her state of the republic address.


4 h
Most Slovak believe that “we” should also include foreigners, although they are quick to point out that efforts to integrate should be undertaken mainly by the foreigners themselves.

What Slovaks shouldn’t forget when they dream of the perfect foreigner

Bratislava’s mayor is right that integration is a two-way street, but even the capital still has some way to go to see foreigners as residents rather than just visitors.


8 h
Illustrative stock photo

Green pass is not enough. Some people will need to take a test when going to hospitals

The Sme daily sums up conditions for hospitalisations, hospital visits and treatment.


10 h
Brothers Peter and Pavol Hochschorners competed for the last time.

The golden era ends. Several water slalom legends retire from sport

The recent world championships in Čunovo marked the end of six Olympic medallists' careers. Others may follow next year.


11 h
Skryť Close ad