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Import/Export Controls

Slovakia is a member of the WTO, and is trying to maintain as high a degree of trade freedom as possible. At present, imports and exports of limited number of products (such as arms and other military materials) are subject to licenses issued by the Slovak Ministry of Economy.

Certification of Imported Goods

Certain specified products are subject to a mandatory certification procedure when imported into Slovakia. The list of products changes from time to time. To confirm that imported goods comply with Slovak technical standards, Slovak customs may require a product certificate before goods can be imported into the country. The certificate can be obtained from the appropriate office after testing has taken place. However, if the product already has a foreign certificate complying with Slovak standards, only a certificate of conformity is issued without any prior testing of the product.

Foreign Exchange

A business seeking to trade in foreign exchange assets and/or provide foreign exchange services in Slovakia needs to obtain a foreign exchange license from the National Bank of Slovakia. Foreign exchange licenses cannot be transferred to any other person, or passed on to a legal successor4).

A foreign exchange resident (an individual with residence in, or a legal entity with a seat in Slovakia) and the branch offices of a non-resident in Slovakia are obliged to provide the National Bank of Slovakia with information and data relating to:

collections, payments and transfers relating to direct investment, loans and securities of foreign exchange residents abroad and in relation to non-residents; this is not applicable if the operations are performed through non-residents establishment of accounts abroad and balances thereof.

A foreign exchange resident must also notify the National Bank of Slovakia regarding its assets and liabilities relating to non residents, with the exception of assets and liabilities relating to a branch office of a non-resident in Slovakia.

Cross-border transfers of funds may be performed only through the National Bank of Slovakia, or through a licensed foreign exchange dealer (usually a bank) or a special payment system.


Foreign Exchange Act, 1995


©2010 KPMG Slovensko spol. s r.o. , a Slovak limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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