Dear Clients,
As of 1 July 2024, the minimum subsistence level in Slovakia has increased to 273,99 €. The year-on-year increase in the minimum subsistence level is an increase of 1,9%. This increase has significant implications not only for nationals but also for applicants for temporary and permanent residence. How does this change affect the living conditions of these groups and what are its wider social and economic implications?
Minimum subsistence and residence statuses
The subsistence minimum is the income threshold below which a person applying for residency is considered economically secure. For applicants for temporary and permanent residence, the increase in the subsistence minimum is an important factor affecting their ability to provide for their basic living needs and to meet the requirements for obtaining or maintaining residence status.Reasons for the increase and its relevance for applicants for residence
- Inflation and cost of living increasesA: Increases in the price of food, housing and services have a direct impact on all residents, including those seeking residency. The increase in the minimum subsistence level to €273.99 helps alleviate financial pressure on low-income groups, including those seeking legal residency in Slovakia.
- Social inclusionA: Applicants for temporary and permanent residence often face greater challenges in integrating into society. A higher minimum subsistence level can help them gain better access to basic services and secure more stable economic conditions.
- Support for applicant familiesA: Many applicants come to Slovakia with their families or are financially supported from abroad. An increase in the minimum subsistence level can also mean higher child allowances and other family benefits, which improves the economic situation of their families.
Impact of the increase in the minimum subsistence level on applicants for residence
- Access to social benefitsA: Temporary and permanent residence applicants who are legally employed or entitled to social benefits will benefit directly from this increase. Higher material hardship benefits and other allowances will help to provide for their basic needs.
- Housing and living conditionsA: Increasing the living wage can help claimants better manage housing costs, which are often one of the biggest financial burdens. More stable economic conditions lead to better housing and overall quality of life.
- Integration and social stabilityA: Better economic conditions for applicants contribute to their faster and more successful integration into society. This leads to greater social stability and harmony in society.
