[Excerpt] Since gaining its independence in 1993, the Slovak Republic has adopted new laws at a rapid pace. As a country in transition, its legal system continues to develop. Therefore, Doing Business in the Slovak Republic has been prepared by the Prague office of Baker & McKenzie and its Slovak counsel Marek & Partners as a general guide for those companies or persons considering an investment in the Slovak Republic. Since the legal landscape continues to be subject to frequent changes, this document should be taken as a basic guideline intended to assist investors in understanding the Slovak Republic’s overall investment climate and should not be relied upon as legal advice. The information contained herein is general in nature and is intended to provide an outline only of Slovak law and practice. It must not be relied on in relation to any transaction as a substitute to seeking specific legal advice.The law and its practice in the Slovak Republic are constantly changing and readers should be aware that any information soon becomes outdated. This remains true notwithstanding the access of the Slovak Republic to the EU on 1 May 2004 - and undertaking the process of harmonization of its laws with those of the EU.