Slovak entrepreneurs are consolidating their lead as the top foreign owners of companies in the Czech Republic, while Russian ownership is shrinking rapidly.

According to an analysis by consulting firm Dun & Bradstreet, the number of Czech companies owned by Slovaks rose by 725 this year, reaching a record 16,822.

Ukrainian business owners rank second with 12,436 companies, marking a slight decline from last year. Russian ownership, meanwhile, has fallen by more than a third since 2021, dropping to 7,978 companies.

“The Czech market remains attractive to foreign entrepreneurs, but the ownership landscape is changing. While Western and Eastern capital is losing ground, the Visegrad Four countries are gaining,” said Katerina Klosova, Chairperson of Dun & Bradstreet’s Czech branch.

Slovakia’s consistent growth is driven by familiar language, a shared historical background, and closely linked markets. Many Slovaks studying in the Czech Republic eventually establish businesses locally, further reinforcing their presence.

“Slovakia’s leadership in the Czech business sector has long been clear, and the trend continues to accelerate,” Klosova added.

Hungarians and Poles have also shown strong growth. Hungarian-owned companies increased by 208 over the year, a 33% rise since 2021, while Slovaks grew by 17% and Poles by 9%. Geographic proximity and historical connections also explain why Czech entrepreneurs control 15,372 companies in Slovakia, 684 more than last year.

They are followed by Hungarian owners with 13,422 companies, Austrians with 4,362, and Ukrainians with 3,626.

The decline in Russian-owned companies is the most notable shift. In 2021, Russian entrepreneurs controlled 12,464 Czech companies. Their number has since fallen by over a third, reflecting both geopolitical tensions and changes in business portfolios.

Overall, the total number of Czech companies with foreign ownership decreased by 1,111 year-on-year to 91,552.

Klosova explained that this drop reflects market conditions, ongoing geopolitical uncertainty, and strategic consolidation among foreign investors.

Top 15 Foreign Owners of Czech Companies (2024–2026)

• Slovakia: 16,822 (2026) | 16,097 (2025) | 15,746 (2024)

• Ukraine: 12,436 (2026) | 12,607 (2025) | 12,803 (2024)

• Russia: 7,978 (2026) | 8,766 (2025) | 9,463 (2024)

• Germany: 7,600 (2026) | 7,853 (2025) | 8,092 (2024)

• Poland: 4,229 (2026) | 4,135 (2025) | 4,155 (2024)

• Great Britain: 3,452 (2026) | 3,581 (2025) | 3,749 (2024)

• Austria: 2,977 (2026) | 3,115 (2025) | 3,186 (2024)

• Italy: 2,943 (2026) | 2,991 (2025) | 3,068 (2024)

• Hungary: 2,907 (2026) | 2,627 (2025) | 2,595 (2024)

• USA: 2,153 (2026) | 2,190 (2025) | 2,257 (2024)

• Netherlands: 2,064 (2026) | 2,162 (2025) | 2,222 (2024)

• Romania: 1,650 (2026) | 1,615 (2025) | 1,680 (2024)

• Cyprus: 1,602 (2026) | 1,697 (2025) | 1,696 (2024)

• Switzerland: 1,445 (2026) | 1,458 (2025) | 1,496 (2024)

• Bulgaria: 1,227 (2026) | 1,293 (2025) | 1,346 (2024)

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