Set up Company in Bosnia

Starting a company in Bosnia and Herzegovina implies a series of well structured procedures. An entrepreneur must register for tax purposes, insurance, health and in order to obtain the certificate of function, registering the company with Municipal Court is mandatory. Foreign investors find a productive and welcoming economical environment, and are not treated with discrimination, having the same rights as domestic entrepreneurs.

Preliminary activities before registering limited liability and joint stock companies in Bosnia
Prior to state registration an entrepreneur must stipulate a founding act and notarize it at the municipality office. The Law on Notary requires all documentation for registration of the Bosnian company to be certified by a public notary. Also it is important that the founders open a bank account and deposit the minimum required capital, obtaining a bank certificate. The final step prior to registration implies obtaining a statement from the tax authorities hat the founders have no tax debts.

Registering limited liability and joint stock companies in Bosnia
The founders of the Bosniak companies must purchase regulated forms at a stationery shop or at court and complete them. The articles of association, charters, bank account, information on the legal address and capital and data on members and managing board are required along with the application for registration with the Municipal Court. After the issuance of the registration certificate the Municipal Court informs the Official Gazette and the companies are automatically registered for membership in the chambers of economy at state, entity, canton and regional levels.

Obtaining a company stamp in Bosnia
After the issuance of the registration certificate the company members must obtain a company stamp paying a fee, depending on the producer of the stamp.

Applying for company identification number with the tax office in Bosnia
The founders of the company must submit a photocopy of the court registration and the contract on the lease of the business premises and a copy of the director's identification card. The procedure may take up to 15 days to complete.

Registering the employees with Pension Insurance Institute and Health Insurance Institute
An important step in the finalization of the incorporation process includes enrolling the new employees with the pension and health insurance institutes. In order to do that, the founders must submit the application forms for pension and health insurance, a copy of the certificate of registration of the company and the employee's identification card and health booklet, a copy of the concluded employment contract and finally the employees' work booklet.

Setting up a company in Bosnia and Herzegovina from abroad
The state of Bosnia Herzegovina has a rather complex tax system, but represents a rather attractive environment for foreign investors, ensuring a non-discriminatory treatment for foreigners. A company can be established by assigning a representative who will carry the establishment procedures. However the company must have local residence, and certain restrictions to the repatriation of the company's capital apply, depending on the characteristics of each company.

How long does it take to establish a company in Bosnia and Herzegovina?
The process can be rather complex and almost each procedure is completed in more than a week. Small steps, as opening a bank account, buying company stamp etc. are finished in no more then a day. Registering the company with the Bosnian Municipal Court can take up to 15 days, as other procedures. A company in Bosnia and Herzegovina can take up to two months to be established.