I want to switch my hosting, so i've transferred all files and the database to the new hosting and the master site is working fine (i've not transferred the domain yet), what should i do next in order to get the slave sites working? Will the component recreate the symlinks automatically since i couldn't download and upload them via ftp from the old to the new server.

If you want to move your environment from one server to another one, there are several method and the easiest one consists in creating a new hosting account that use the same "primary home directory".
I will take here a sample based on cPanel that has generation a hosting account using home directory like "/home/ACCOUNT".

If you have created the master and all the slave site using the recommended convention for the directory name (domains/DOMAIN_COM/public_html or domains/DOMAIN_COM/subdomains/SUBDOMA/public_html

That means that all the PHP code is located in your /home/ACCOUNT/domains
directory.
If this is the case, the free weekly backup shell script will do the backup of everything including all the DBs of the cPanel account.
www.jms2win.com/en/component/docman/doc_...ackup-script-all-dbs

Once you have the backup done, you can simply decompress the TGZ on the new server extract all the files and folders.

If the home directory is changed:
- you will have to rebuild the symbolic links.
- you will also have to verify the JMS settings and location of the "multisites" directory.
- When you delete a symbolic link and after re-open a slave site definition followed by a save then this rebuild the symbolic link.
- You will have to remove (delete) the index.php and index2.php that is present in each slave to let JMS rebuild them with the new path.

To restore all the DBs, the easiest way is to execute the MySQL < backup.SQL
See also the backup/restore procedure
www.jms2win.com/en/faq/faq-joomla-multi-sites#cat-268