It may come as some surprise that Slovakia is now one of Europe’s most attractive locations for doing business. Its yearly GDP growth is one of the highest in the Eurozone. The Slovak workforce is multi-skilled, with English and German being widely understood and spoken, particularly by the younger generation.
Here’s another pleasing factor – hourly labor costs in Slovakia are more than three times lower than in Germany and here are to be found some of the biggest names in industry and manufacturing – Jaguar, Siemens, Volkswagen, OMV, Samsung, KIA Motors, US Steel, Emerson, DELL EMEA Centre of Excellence, Whirlpool, IBM International Services Centre, PSA Peugeot-Citroën, Panasonic, Sanyo, plus many others of note.
Where labor costs fall well below those in much of Europe while GDP growth has soared
BRADFORD JACOBS are able to confirm that they have direct contacts and represent small and medium companies that are day to day doing business in Slovakia. We know what is needed to get a new business set up and then keep moving with staff that have the right skills set and are ambitious. We can support you in Slovakia and be assured that we will be with you every step of the way as your first-call provider of information and customised employment solutions. We keep our ear to the ground and know the local business scene inside out.Our staff and associates can assist you with entering the Slovak market, including company incorporation, location of an industrial site or production housing, with taxes, legal issues, the hiring of employees, insurance matters, support with applying for incentives, banking facilities, M&A, JV, and so on.
Our staff and associates can assist you with entering the Slovak market, including company incorporation, location of an industrial site or production housing, with taxes, legal issues, the hiring of employees, insurance matters, support with applying for incentives, banking facilities, M&A, JV, and so on.BRADFORD JACOBS have strong links with a significant range of companies thereby being able to offer a host of relevant and key B2B services providing you with all the help you need to develop your enterprise and people investment in Slovakia.
BRADFORD JACOBS have strong links with a significant range of companies thereby being able to offer a host of relevant and key B2B services providing you with all the help you need to develop your enterprise and people investment in Slovakia.The principal legislation regulating employment relationships in the Slovak Republic is the Labor Code. According to the code, employment relations have to be established by written employment contracts between employers and workers. Besides the contract, the Labor Code recognises three other contract types: for work performance, activities and temporary student jobs.
The principal legislation regulating employment relationships in the Slovak Republic is the Labor Code. According to the code, employment relations have to be established by written employment contracts between employers and workers. Besides the contract, the Labor Code recognises three other contract types: for work performance, activities and temporary student jobs.
Talk to us first for more information about local requirements, such as entitlement to work in Slovakia, employment contracts, minimum specifications, obligations, contract durations, probationary periods, termination of employment (cases, notice period), income tax and other contributions to be paid by both employer and employee, working hours and vacation entitlement, short and long term employment, overtime, time off, the most common employee benefits, temporary work characteristics in Slovakia, special types of contracts that exist, and of course personnel leasing.
Agents of BRADFORD JACOBS are totally on the ball to make your Slovakian expansion processes painless and easy. We can help you hire your candidate of choice, handle HR matters and payroll, and ensure that you’re in compliance with local laws – all without the expense of setting up a branch office or subsidiary. Our Slovakian agents and our worldwide Employer of Record Platform is designed to provides you with peace of mind, allowing you to concentrate on running your business.
With BRADFORD JACOBS’ in-country legal experts and our experienced and trained staff, we can guide you smoothly through the many of complex laws and regulations of hiring staff in Slovakia. When negotiating terms of an employment contract and sending a job offer letter to an employee in Slovakia, it is a legal requirement to put a strong employment contract in place, in Slovakian as well as English, which sets out the terms of the employee’s compensation, benefits, and termination requirements. An offer letter and employment contract in Slovakia should always state the salary and any compensation amounts in Euro rather than a foreign currency.
Here’s some hugely attractive reasons you should use Bradford Jacobs’ agency services in Slovakia:
- You have a contractor overseas and you want to take them on full-time as a company employee.
- As they’re a contractor, your company is currently in a non-compliant relationship with them.
- Your company wants to invest in these resources and show your commitment to them by offering then full-time work under your company banner.
- The contractors are asking for the improved status afforded by full-time employment.
- You’re seeking cost-effective solutions in upgrading contractors to employee.
- Legal complications need to be avoided when converting contractors to employees.
- Avoid the costs and risk of maintaining a foreign corporate entity. You see that the compliance and financial perspective as it stands is too high in terms of investment and just does not tie-in with your long term goals.
- It needs to be done quickly. You’d like to hire today, but are in need of an interim solution while setting up your foreign entity.
Well, our single answer to all of these dilemmas is – no problem!
For companies wishing to hire employees in Slovakia, our expert advisors can walk you through the nuances of employment and hiring in Slovakia – and indeed in every other European state. Within just 24 hours following your initial call to us, BRADFORD JACOBS will send you a customised proposal to match your exact specifications and requirements. You can have your employees up and running within a few days of the paperwork being signed and sealed.
Remember, whether foreign national expatriates or local national hires, BRADFORD JACOBS can assist with Slovakian business visas, work permits, local payroll, taxes, and general employment support. Our services will drastically decrease your time to market, fully compliant and without the hassles and headaches.
If you’re considering engaging a PEO, we suggest you first check out what BRADFORD JACOBS Consulting can offer…
How it works
Our aim as the Employer of Record for your international employees is to provide specific payroll, HR and ‘in-country’ compliance services.
In the first instance, BRADFORD JACOBS professionals will consult with you to understand your specific requirements and timeframes and assess the best model to provide our services. As these are co-employer and employee arrangements, there will be some important conditions for you to consider so that the PEO model remains accurate, timely and – most importantly – compliant with the rules and regulations governing staff employment in a specific country.
The most important thing we do is protect our clients and their workforce – which makes BRADFORD JACOBS the reliable partner you would want to work with.
PEO in Slovakia
BRADFORD JACOBS Consulting provides employer of record services for clients that want to hire employees and run payroll without first establishing a branch office or subsidiary say, as an example, in Slovakia. Your candidate is hired via BRADFORD JACOBS agencies in Slovakia in accordance with local labor laws and can be set up within a few days. One of our experts is assigned to work with your team, representing your company exactly as if he or she were your employee and working to meet your requirements in that country.
Our PEO service enables clients to run payroll in Slovakia while HR services, tax, and compliance management matters are lifted from their shoulders onto ours. As global PEO professionals, we manage employment contract best practices, as well as severance issues and even termination if required. We also keep you up to date of any changes to local employment laws in Slovakia.
Establishing a branch office or subsidiary in Slovakia to engage a small team is time consuming, expensive and complex. Slovakian labor law has strong worker protections, requiring great attention to detail and an understanding of local best practices. Our global partners make it problem-free and an easy exercise to expand into Slovakia. We can help you hire your candidate of choice, handle HR matters and payroll, and ensure that you’re in compliance with local laws – all without the burden of setting up a Slovakian branch office or subsidiary outfit.
Features and Benefits
- Solutions available for all nationals.
- Employment and business support provided by local professional partners.
- AUG license to lease employees to Slovakia based clients.
- Contractors benefit from the highest legitimate retention through the use of tax and social security treaties, expatriate tax regimes, pension schemes, double taxation agreements and tax claimable expenses.
- Value for money and flexible fees – inclusive of Slovakian tax return and expenses claims. These are charged only when the contractor is starts working. If contractors wish to use their own accountants to file income tax returns, we pay their accountants’ fees up to the amount charged by our own accountant.
- EUR 5,000,000 cover for employers’ and business liabilities.
- Single point of contact, so contractors can focus on their job.
- Extensive expertise in Slovakian tax and social security issues.
For the Employer
- Fast international employee engagement solution.
- Controls operating budgets as all employer costs are provided at the outset to ensure full transparency.
- Time efficient with minimal paperwork required compared to the red tape often encountered when setting up your corporate entity.
- Professional assistance with employment and compliance matters.
- Reduced legal and accounting costs.
- All statutory professional insurances are provided as part of the BRADFORD JACOBS service.
For the Employee
- Compliant local employment contract.
- Payroll on-time and 100 percent accurate.
- Professional HR assistance with employment related enquiries.
- Up-to-date information on tax regulations and compliance.
Contract of Employment
- Each worker is issued with a comprehensive contract of employment in dual language – in this example case, Slovakian and English.
- An overview of the statutory provisions in Slovakia will be made available to you prior to contract offer. BRADFORD JACOBS will appraise you of all the salient in-territory HR rules to ensure you have a thorough understanding of Slovakian laws and protocols.
- In conjunction with in-country expert advisors, BRADFORD JACOBS will recommend where these provisions can easily be enhanced enabling you to provide a fully competitive salary and benefits package for all your employees.
- Salary, commissions/bonuses and all benefits are agreed with the ‘workside’ employer and are contractually included.
- Fully managed service to assist with routine HR tasks such as absence management and expense processing.
- Guidance on in-territory compliance requirements – such as any legal obligation to record time and overtime provisions.
- Ad-hoc support available around the clock to support you when you need it most in the event of any disciplinary, grievance or other HR matters requiring urgent attention.
- Regular updates provided and advice available to ensure that you are made aware of not only significant changes to existing laws but also to ensure ongoing compliance with all aspects of Slovakian employment law.
- BRADFORD JACOBS will bring any issues to your early attention and, where appropriate, work with you to ensure internal policies and handbooks are updated accordingly.
- Accident insurance covering occupational accidents, commuting accidents, and occupational diseases as required by Slovakian law is provided as standard.
Payroll & Settlement
- Fully compliant international payroll funding process ensuring that employees and competent authorities are paid on time, electronically into the relevant bank accounts
- Statutory filing, submissions and end of year reporting completed as standard.
- Liability payments made in line with local territory requirements to the respective competent authorities well in advance of deadlines.
- Staff payments made to employees on a fixed weekly/bi-weekly/or monthly basis as required in local currency.
- Electronic pay slips provided to employees.
- We hope that you enjoy a long and mutually beneficial relationship with all your employees. If your employee decides to move on, however, you can rest assured that all leaving documentation required by him or her will be issued efficiently. According to the labor law of Slovakia, your employees will be at risk of having their work permit revoked if they (i) do not perform the works for which they are employed and (ii) lose vital qualifications that are required to execute the job.
- Our BRADFORD JACOBS’ employment solutions helps you have your mobile workforce officially employed in Slovakia by our company instead of setting up your own legal entity there. You just choose the right candidate that you need to have working for you in Slovakia and then leave it to us to handle all the rest – fast and hassle-free.
Once the contractor registers with us, we take care of all work-related permits and registration formalities. He or she sends us completed time sheets and any approved expenses. We invoice the end client. When the invoice is settled, we deduct all contributions due to the Slovakian authorities and transfer the remaining salary into the contractor’s bank of choice.
Finally, at the end of the financial year, we prepare the year-end accounts and, at the end of the assignment, we de-register the contractor.
We appreciate each situation and business is different. That is why BRADFORD JACOBS offers a consultative and bespoke solution to every client. Personalised job specifications, job offers and benefits packages are all agreed with you during the set-up process. We know one size does not fit all and rest assured we can accommodate all bespoke requirements.
Sounds good? Then do contact us to arrange an initial Professional Employer Organisation consultation with our team.