P2P Lending in Slovakia

July 30th, 2020
2 minutes read

The Slovak Market for Crowdfunding

According to data from the latest report by Cambridge Centre for Alternative Finance (CCAF) on the global market of alternative finance and crowdfunding, Slovakia had a total funding volume of €20.3 million in 2018, up from €10.2 million in 2017, which corresponds to a growth rate of 99.2%. This places Slovakia’s crowdfunding market as number 26 in Europe and as number 55 in the worldwide crowdfunding statistics. Thus, the crowdfunding market in Slovenia is still very small and has plenty of room to grow. The countries topping the list in Europe are the United Kingdom, the Netherlands, Germany, France, and Italy.

Best Peer-to-Peer Lending Platforms in Slovakia

Here, you will find a list of the best peer-to-peer lending platforms in Slovakia. When choosing the best peer-to-peer lending sites in a country we consider a variety of factors that you can find in the Methodology below.

Taxation on Peer-to-Peer Loans in Slovakia

Peer-to-peer investors in the Slovak Republic are taxed on P2P loans in compliance with the Law on Income. Other investors must fulfill their legal tax obligations according to the country in which they have their tax obligation.

To get a more in-depth overview of the Slovak tax system for both companies and individuals, we can recommend this tax summary overview made by PwC.

Keep in mind that this should not be considered tax advice and can be outdated, why you should always contact a tax adviser when handling your taxes.

Regulation on Peer-to-Peer Lending in Slovakia

Slovakia is relatively new when it comes to all crowdfunding models, which means most projects have been hosted on international platforms. Some local platforms started operating in 2015. Currently, there are no regulations that specifically concern neither crowdfunding in general or peer-to-peer lending and many local platforms have experienced difficulties operating, partly because of a difficult policy and legislative environment. The general regulation for crowdfunding in the Slovak Republic falls under two acts: The Securities and Investment Services Act – license and prospectus requirements and The Collective Investment Act – license and sale prospectus requirements.

You can read more about the regulation on crowdfunding in Slovakia in the European Crowdfunding Network Factsheet for Slovakia.

Methodology

At P2PMarketData we are dedicated to providing an unbiased overview of the Peer-to-Peer Lending market and platforms. Among other, in our mission to bring more transparency to the market for online lending we track over 70 platforms funding volumes.

When choosing the best platforms in a country we have considered a variety of factors such as:

  • Number of investors
  • Minimum investment requirement
  • Historical annual returns
  • Diversification opportunities
  • Reinvestment opportunities
  • Educational and informational offerings
  • Platform fees
  • Total capital invested
  • Features (such as secondary market and automatic investing)
  • General transparency (the difficulty of finding who the owners are, how they make money on the platform (fees), terms & conditions and more)
  • Management team

We also look into the company’s online reputation (for example customer reviews, news, complaints, average monthly searches and social media).