Finances in Slovakia for foreigners

People with temporary protection (dočasná ochrana) can open an account in a Slovak bank. In practice, most banks ask for a foreign passport, proof of temporary protection, and often a personal identification number (rodné číslo); some additionally require a residential address or proof of income.

If it is difficult to open a regular account, you have the right to a “základný platobný účet” — a basic payment account. This is a legally guaranteed service for those legally residing in the EU: it costs at most a few euros per month (free for vulnerable groups) and covers a card, transfers, and cash withdrawals.

Before choosing a bank, compare the monthly fee, transfer fees, and online banking conditions. The rules for basic accounts are supervised by the National Bank of Slovakia (Národná banka Slovenska) — see details on nbs.sk.

Most often, no. If you worked under an employment contract for one employer all year and had no other taxable income, your employer can file a report for you. To do this, you must request “ročné zúčtovanie dane” — annual tax reconciliation — in writing by February 15.

You need to file a tax return (daňové priznanie) yourself if you had income from a sole trader licence, multiple employers, rent, property sales, or income from abroad, or if you did not manage to ask your employer for reconciliation. The standard deadline for filing and payment is March 31 for the previous year; it can be postponed by notification.

Annual reconciliation is often beneficial: if more tax was withheld during the year than is due, the overpayment is refunded. Forms, deadlines, and calculators are available on financnasprava.sk.

The most well-known relief is the daňový bonus na dieťa, a tax bonus for a child, which directly reduces your tax. In 2026, the maximum will be €100 per month for a child up to 15 years old and €50 for a child from 15 to 18 years old; the right disappears after 18 years.

The bonus amount is limited by a percentage of your tax base (from 29% for one child to 64% for six or more) and decreases with high income — approximately from a monthly base of €2,286 in 2026. An important condition: taxable income from sources in Slovakia must constitute at least 90% of all your income.

In addition to the child bonus, the tax base is reduced by the non-taxable part for the taxpayer. Since the amounts and conditions are reviewed annually, check the exact figures and your specific case on financnasprava.sk or with an accountant.

Within Slovakia and the EU, transfers are made using the IBAN account number in SEPA format — quickly and inexpensively. For transfers between Ukraine and Slovakia, international bank transfers (SWIFT) or licensed money transfer services are usually used; compare not only the commission but also the exchange rate, as the main cost is hidden in the rate.

If you are carrying cash across the EU border (and Ukraine is an external border), amounts of €10,000 or more must be declared in writing at customs. This applies to cash and equivalent instruments; there are fines for non-declaration.

For large transfers, the bank may ask you to confirm the origin of funds — this is a standard anti-money laundering procedure. Rules for declaring cash are on financnasprava.sk; check the conditions for a specific transfer with your bank.

The key concept is tax residency (daňová rezidencia). If the center of your vital interests is in Slovakia (your family is here, you are here permanently), you are likely a Slovak tax resident and declare worldwide income, including Ukrainian income. If your ties are mainly with Ukraine — vice versa.

To avoid the same income being taxed twice, there is an agreement between Ukraine and Slovakia on the avoidance of double taxation. It determines which country taxes which income and allows for the credit of tax already paid. The mechanism depends on the type of income — salary, business, rent, or dividends.

This is one of the most complex topics where a mistake is costly, so general explanations do not replace consultation. Check your specific case on financnasprava.sk or with a Slovak tax advisor who knows both systems.