This
small country in Central Europe is becoming ever more popular
as a holiday destination. With some of the most spectacular
scenery in Europe, historical towns and cities, fairytale
castles, show caves, spa resorts, and excellent recreational
opportunities, Slovakia has something to offer for everyone.
In the summer, with temperatures
regularly reaching 30 degrees celsius, Slovakia is the perfect
place for mountain biking, climbing, white water rafting,
canyoning, walking, etc. Meanwhile, in the winter months,
Slovakia's many ski resorts provide winter sports enthusiasts
with everything they could possibly need.
If that isn't enough, tourists
will also find Slovakia excellent value for money. With a
large beer costing from 50 Euro cents and a meal in a good
quality restaurant costing from only 5 Euro, relaxing after
your day's activities, certainly won't break the bank!
Since joining the European
Union in May 2004, Slovakia has attracted a large amount of
investment from abroad; and according to the World Bank, currently
has the fastest transforming business
environment in the world. This has been reflected in the booming
property market, which is now considered by many experts to
be the next big thing!
The recent tax reforms have
seen taxation of dividends and inheritance tax abolished,
and a flat rate of 19% tax introduced. This makes Slovakia
one of the most favourable tax regimes in the world, Europes
very own little tax haven.
Rental income is taxed at the
19% flat rate, however it is possible to deduct expenses,
maintenance, property related costs, interest on any loans
taken out to finance the property and even depreciation.
There is no equivalent of the
UK's stamp duty and there is no capital gains tax on residential
properties after two years of ownership, and after five years
of ownership any rental property is also capital gains tax
free.
The aggressive reforms haven't
just involved tax, they have also covered the areas of healthcare,
pensions, the labour market and public spending - all of which
have won high praise from international investors.
The exceptional GDP growth
of 2004 has continued into 2005, and it is expected to continue
to grow beyond. It is said to be the fatest GDP growth rate
in central Europe and is contributing to the huge investment
interest.
The tax reforms and economic
success, along with a highly skilled, highly educated, low
cost labour force has made Slovakia an investors paradise.
Car maufacturers, call centres,
tire companies, medical companies are already setting up their
operations in Slovakia. Many other significant investment
decision are currently being confirmed and many more companies
are expected to follow suit. It is also thought that many
of the foreign investors already signed up have further explansion
plans.
basic
Slovakia information |
Overseas
Property Investment|
Facts
about Slovakia|
Places
to Invest|
Why
Invest?|
Fast
Growing property Market|
Buying
Property in Slovakia|
What
taxes to pay when buying a home? |
