Frequently Asked Questions

Please review this FAQ page for the questions we were often asked.  In the meantime, if you have any other question, please do not hesitate to contact us or post your question at our CONTACT US page. We will answer you as soon as possible. Thank you.

1. When was ABS set up?
ABS has been set up for over a year, in mid May 2006.  A lot of events have taken place since then and we are proud to have led the first ever business delegation from Singapore to both the Slovak and the Czech Republics in March 2007, shortly after the visits by the Presidents of both the Czech Republic and the Slovak Republic in October 2006.

[ PostScript : The Senior Minister of Singapore, Mr Goh Chok Tong, also visited the Slovak capital on 22 Mar 07, right after our return trip. ]
2. Why was ABS set up?  
ABS was set up for a variety of reasons: a) to assist local and fellow Asian business owners to cut their learning curve of building a corss border business  b) to take advantage of the strongly developing economies of the new EU countries from Central Europe   c) to be a contrarian and go where no one is looking 

3. Why was Slovakia chosen as the starting point?
Apart from the fact that our initial partners were from Slovakia, the other compelling reasons were: 

a) Slovakia had the highest GDP growth rate of the newly joined EU members, as well as over the entire EU, for the past 4 years before the establishment of ABS   

b) Slovakia was the centre of the EU and even in the days of the Eastern bloc, Slovakia's central position had several distinct advantages   

c) Slovakia is relatively low cost to begin initial operations, compared to the developed West European countries   

d) Slovakia had yet to adopt the Euro as her currency and this allows more leeway in terms of upward movement of her capital   

e) Slovakia is relatively unknown and unspoilt - lots of scope for development   

f) Slovakia is close to the recently admitted EU members; allowing us more room to grow.

4. Is Slovakia pro-business in policy? 

Slovakia only began her rapid economic growth when she made a few changes to her economic policy:

a) a flat 19% tax rate for both individuals and companies

b) 100% repartiation of investments and funds

c) changes to the law on ownership of land and real estate

d) open policy with regards to influx of foreign companies

e) move to a market driven economy

5. Can foreigners own real estate in Slovakia?

The answer is YES, except for farm land.   But then, there are other ways to own farm land if there is a necessity.  In some cases, local or governmental financing may also be available. 

For a detailed answer, do

6. Can foreigners set up companies in Slovakia?

Once again the answer is YES; although the cost for setting up a 100% foreign owned company will be more expensive than by a local or with a local.  For that, we could assist also.

For a detailed answer, do .

 
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