Bosnia-Herzegovina

Official Name: Bosna i Hercegovina

Capital: Sarajevo

Languages: Bosnian, Croatian and Serbian

Currency: Convertible mark (BAM)

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Bosnia-Herzegovina

Bosnia and Herzegovina, located in southeastern Europe, is a small country with a rich history, unique culture, and diverse economy. Its turbulent past has been marked by wars, political instability, and ethnic conflicts, but today it is striving to build a more peaceful and prosperous future.

History:
Bosnia and Herzegovina has a long and complex history that spans thousands of years. Its earliest inhabitants were the Illyrians, who were later conquered by the Romans. In the 7th century, the Slavs arrived and established the medieval Bosnian state, which was later absorbed by the Ottoman Empire. During this time, Bosnia became a center of Islamic culture and the Ottoman influence is still visible in the country’s architecture and traditions. In the late 19th century, Bosnia and Herzegovina became part of the Austro-Hungarian Empire, and after World War I, it joined the Kingdom of Yugoslavia. The breakup of Yugoslavia in the 1990s led to a devastating war, but Bosnia and Herzegovina emerged as an independent country in 1995.

Culture:
Bosnia and Herzegovina is a melting pot of different cultures, religions, and ethnicities. Its population is mainly made up of Bosniaks (Bosnian Muslims), Croats, and Serbs, but there are also smaller communities of Jews, Roma, and other groups. The country’s culture is a blend of Eastern and Western influences, with elements of Ottoman, Austro-Hungarian, and Yugoslavian heritage. Traditional Bosnian cuisine is famous for its grilled meats, savory pastries, and sweet desserts, and Bosnian coffee is a staple of daily life. Music and dance are also an important part of the country’s cultural heritage, with folk songs, dances, and costumes that vary by region.

Economy:
Bosnia and Herzegovina has a mixed economy that is heavily dependent on foreign investment and trade. The country has a diversified industrial base that includes mining, energy, manufacturing, and services, but it also faces significant challenges such as high unemployment and a large informal economy. Agriculture is an important sector in rural areas, and the country is known for its production of fruits, vegetables, and tobacco. In recent years, Bosnia and Herzegovina has made progress in attracting foreign investment and improving its infrastructure, but more needs to be done to strengthen the economy and create sustainable growth.

Politics:
Bosnia and Herzegovina is a federal parliamentary republic with a complex political system that reflects its ethnically diverse population. The country is divided into two entities, the Federation of Bosnia and Herzegovina and Republika Srpska, as well as the autonomous district of Brčko. The government is composed of a rotating presidency that includes one member from each of the three main ethnic groups, a council of ministers, and two parliamentary assemblies. Despite efforts to promote reconciliation and cooperation between different groups, Bosnia and Herzegovina still faces challenges related to corruption, political instability, and the legacy of the war.

In conclusion, Bosnia and Herzegovina is a country with a rich and complex history, diverse culture, mixed economy, and challenging political situation. Despite these challenges, the country is working hard to build a more prosperous and peaceful future for its citizens, and it offers a fascinating destination for travelers interested in exploring its history, traditions, and natural beauty.

Types of company registration

Sole proprietorship (Jednostavno društvo sa jednim članom, JDoo):
This is the simplest and most common type of company in Bosnia and Herzegovina. It is owned and operated by a single person and does not require a minimum share capital. The main benefits of a sole proprietorship are low start-up costs, easy registration process, and full control over the business. However, the owner is personally liable for all debts and obligations of the company, and there is no legal distinction between the owner and the company.

Limited liability company (Društvo sa ograničenom odgovornošću, DOo):
This is the most popular type of company for small and medium-sized businesses in Bosnia and Herzegovina. It requires a minimum share capital of 1 BAM (0.5 EUR) and can have one or more shareholders. The liability of each shareholder is limited to their share in the company’s capital. The main benefits of a limited liability company are limited liability, separate legal personality, and flexibility in management and ownership. However, it may have higher registration and maintenance costs, and it is subject to more regulatory requirements and restrictions.

Joint-stock company (Akciovno društvo, AD):
This is a type of company that is suitable for large and complex businesses that require significant capital and have a wide range of shareholders. It requires a minimum share capital of 50,000 BAM (25,000 EUR) and can issue shares to the public or a limited number of investors. The liability of each shareholder is limited to their share in the company’s capital. The main benefits of a joint-stock company are limited liability, the ability to raise capital through the stock market, and the separation of ownership and management. However, it is subject to strict legal and regulatory requirements, and it may have higher costs and administrative burdens.

General partnership (Ostavljeni ured, OOUR):
This is a type of company that is owned and operated by two or more partners who share the profits, losses, and liabilities of the company. There is no legal requirement for a minimum share capital, and the partners have unlimited liability for the company’s debts and obligations. The main benefits of a general partnership are flexibility in management and ownership, shared risk and responsibility, and tax benefits. However, it may have limited access to financing and growth opportunities, and it may be subject to conflicts and disputes among the partners.

Limited partnership (Komanditno društvo, KD):
This is a type of company that combines the features of a general partnership and a limited liability company. It has one or more general partners who manage the company and have unlimited liability for its debts, and one or more limited partners who contribute capital but have limited liability for the company’s debts. The main benefits of a limited partnership are the combination of personal liability protection and investment opportunities, and flexibility in management and ownership. However, it may have higher administrative and registration costs, and it may be subject to conflicts and disputes among the partners.

Advantages of company registration in Bosnia and Herzegovina

Strategic location: Bosnia and Herzegovina is located in the heart of the Balkans, which makes it a strategic location for doing business with other countries in the region and beyond. It has access to major transportation routes, including highways, railways, and ports.

Low operating costs: Bosnia and Herzegovina has a relatively low cost of living and doing business compared to other European countries. This means that businesses can benefit from lower operating costs, including lower labor costs, rent, and utilities.

Skilled workforce: Bosnia and Herzegovina has a highly educated and skilled workforce, with a large pool of young, well-educated professionals who are fluent in English and other languages. This makes it easier for businesses to find and attract talented employees.

Tax incentives: The government of Bosnia and Herzegovina offers tax incentives and other benefits to businesses that invest in certain sectors or regions of the country. For example, businesses can benefit from reduced corporate tax rates, exemptions from customs duties, and other incentives.

Access to EU markets: Bosnia and Herzegovina has a Stabilization and Association Agreement with the European Union, which allows businesses to access EU markets without facing tariffs or other trade barriers. This can be especially beneficial for businesses that export goods or services to the EU.

Ease of doing business: Bosnia and Herzegovina has made significant progress in improving its business environment and reducing bureaucracy. The government has implemented a number of reforms to simplify procedures for registering a business, obtaining permits, and paying taxes.

Diverse economy: Bosnia and Herzegovina has a diverse economy, with strengths in a range of sectors, including agriculture, manufacturing, energy, and services. This means that businesses have a wide range of opportunities to explore, depending on their industry and expertise.

“Our team can provide assistance if you need help registering a company in Bosnia and Herzegovina”

Common questions

What is the process for registering a company in Bosnia and Herzegovina?
The process for registering a company in Bosnia and Herzegovina involves several steps. First, the founders of the company must decide on the type of company they want to register and its name. Next, they need to prepare the necessary documentation and file it with the relevant authorities. Finally, they need to pay the registration fee and obtain the necessary licenses and permits.

What are the requirements for company registration in Bosnia and Herzegovina?
The requirements for company registration in Bosnia and Herzegovina include a completed application form, articles of association, identification documents of the founders, proof of payment of the registration fee, and a statement of compliance with legal and regulatory requirements.

How long does it take to register a company in Bosnia and Herzegovina?
The time it takes to register a company in Bosnia and Herzegovina varies depending on the type of company and the completeness of the documentation submitted. In general, it takes around two weeks to register a company.

What is the cost of registering a company in Bosnia and Herzegovina?
The cost of registering a company in Bosnia and Herzegovina varies depending on the type of company and the amount of share capital. The registration fee ranges from BAM 150 to BAM 500.

What types of companies can be registered in Bosnia and Herzegovina?
Various types of companies can be registered in Bosnia and Herzegovina, including limited liability companies, joint-stock companies, partnerships, and sole proprietorships.

What are the benefits of registering a company in Bosnia and Herzegovina?
The benefits of registering a company in Bosnia and Herzegovina include access to a skilled and educated workforce, a favorable business environment, low taxes, and a strategic location.

Can foreign nationals or companies register a business in Bosnia and Herzegovina?
Yes, foreign nationals or companies can register a business in Bosnia and Herzegovina.

What is the minimum number of shareholders required to register a company in Bosnia and Herzegovina?
The minimum number of shareholders required to register a company in Bosnia and Herzegovina is one.

What is the minimum share capital required to register a company in Bosnia and Herzegovina?
The minimum share capital required to register a company in Bosnia and Herzegovina is BAM 1.

Can a company be registered with only one shareholder?
Yes, a company can be registered with only one shareholder.

Can a company be registered with a sole director?
Yes, a company can be registered with a sole director.

Is a local director required to register a company in Bosnia and Herzegovina?
No, a local director is not required to register a company in Bosnia and Herzegovina.

What are the tax implications of registering a company in Bosnia and Herzegovina?
The tax implications of registering a company in Bosnia and Herzegovina include corporate income tax, value-added tax, and other taxes and fees.

Are there any incentives or exemptions for registering a company in Bosnia and Herzegovina?
Yes, there are various incentives and exemptions available for registered companies in Bosnia and Herzegovina, including tax incentives, subsidies, and grants.

Is there a requirement for a registered office address in Bosnia and Herzegovina?
Yes, there is a requirement for a registered office address in Bosnia and Herzegovina.

What is the process for obtaining a tax identification number in Bosnia and Herzegovina?
The process for obtaining a tax identification number in Bosnia and Herzegovina involves submitting a tax registration application to the relevant authorities.

What documents are required for company registration in Bosnia and Herzegovina?
To register a company in Bosnia and Herzegovina, the following documents are generally required:

Articles of Association
Certificate of Incorporation
Identification documents of the company founders and authorized representatives
Proof of payment of registration fees
Decision on appointment of company management
Bank confirmation of payment of share capital
Proof of ownership or rental agreement for the registered office.

Can company registration be done online in Bosnia and Herzegovina?
Yes, company registration can be done online through the e-Registration system of the Central Register of the Republic of Srpska or the Central Registry of the Federation of Bosnia and Herzegovina.

What is the process for opening a bank account for a registered company in Bosnia and Herzegovina?
To open a bank account for a registered company in Bosnia and Herzegovina, the following documents are generally required:

Certificate of Incorporation
Articles of Association
Identification documents of company representatives
Decision on appointment of company management
Proof of ownership or rental agreement for the registered office.

Are there any restrictions on the use of company names in Bosnia and Herzegovina?
Yes, there are restrictions on the use of company names in Bosnia and Herzegovina. The name cannot be the same or similar to the name of an existing company, and it cannot be misleading or offensive.

Can a company change its name after registration in Bosnia and Herzegovina?
Yes, a company can change its name after registration in Bosnia and Herzegovina. The process generally involves submitting an application to the relevant authorities, along with the necessary documents and fees.

What is the process for changing the company structure in Bosnia and Herzegovina?
To change the company structure in Bosnia and Herzegovina, the company must generally pass a resolution, amend the Articles of Association, and register the changes with the relevant authorities.

What is the process for transferring ownership of a registered company in Bosnia and Herzegovina?
The process for transferring ownership of a registered company in Bosnia and Herzegovina generally involves a transfer of shares or ownership interest, along with the necessary documentation and registration with the relevant authorities.

What is the process for appointing and removing directors in Bosnia and Herzegovina?
The process for appointing and removing directors in Bosnia and Herzegovina generally involves passing a resolution and notifying the relevant authorities of the changes.

Can a company have multiple directors in Bosnia and Herzegovina?
Yes, a company can have multiple directors in Bosnia and Herzegovina.

Are there any residency requirements for directors in Bosnia and Herzegovina?
There are no residency requirements for directors in Bosnia and Herzegovina.

What are the requirements for filing annual returns in Bosnia and Herzegovina?
Companies in Bosnia and Herzegovina are generally required to file annual financial statements with the relevant authorities.

What are the penalties for late filing of annual returns in Bosnia and Herzegovina?
Penalties for late filing of annual returns in Bosnia and Herzegovina vary depending on the length of delay and the type of company.

What is the process for deregistering a company in Bosnia and Herzegovina?
The process for deregistering a company in Bosnia and Herzegovina generally involves submitting an application to the relevant authorities, along with the necessary documents and fees.

Can a foreign company set up a branch office in Bosnia and Herzegovina?
Yes, a foreign company can set up a branch office in Bosnia and Herzegovina.

What is the process for registering a branch office in Bosnia and Herzegovina?
The process for registering a branch office in Bosnia and Herzegovina involves submitting the necessary documents to the Registrar of Companies, including a copy of the parent company’s registration certificate, articles of association, and a power of attorney appointing a representative to act on behalf of the branch office.

What are the tax implications of setting up a branch office in Bosnia and Herzegovina?
A branch office in Bosnia and Herzegovina is subject to corporate income tax on its profits earned in the country. The tax rate is currently 10%. The parent company is also responsible for paying taxes on any dividends received from the branch office.

What is the minimum share capital required for setting up a branch office in Bosnia and Herzegovina?
There is no minimum share capital requirement for setting up a branch office in Bosnia and Herzegovina.

What is the process for closing a branch office in Bosnia and Herzegovina?
The process for closing a branch office in Bosnia and Herzegovina involves submitting an application for deregistration to the Registrar of Companies. The application must include a resolution from the parent company’s board of directors authorizing the closure of the branch office.

Can a foreign company set up a subsidiary in Bosnia and Herzegovina?
Yes, a foreign company can set up a subsidiary in Bosnia and Herzegovina.

What is the process for setting up a subsidiary in Bosnia and Herzegovina?
The process for setting up a subsidiary in Bosnia and Herzegovina involves registering a new legal entity with the Registrar of Companies. The necessary documents include the articles of association, proof of share capital, and identification documents for the directors and shareholders.

What are the tax implications of setting up a subsidiary in Bosnia and Herzegovina?
A subsidiary in Bosnia and Herzegovina is subject to corporate income tax on its profits earned in the country. The tax rate is currently 10%.

Can a subsidiary be owned entirely by a foreign company in Bosnia and Herzegovina?
Yes, a subsidiary can be owned entirely by a foreign company in Bosnia and Herzegovina.

Can a subsidiary have multiple shareholders in Bosnia and Herzegovina?
Yes, a subsidiary can have multiple shareholders in Bosnia and Herzegovina.

Are there any restrictions on the types of activities that a registered company can engage in Bosnia and Herzegovina?
Yes, there are restrictions on the types of activities that a registered company can engage in Bosnia and Herzegovina. Certain activities, such as banking and insurance, require special licenses.

What are the requirements for hiring employees in Bosnia and Herzegovina?
The requirements for hiring employees in Bosnia and Herzegovina include registering the company with the relevant tax authorities, obtaining a work permit for foreign employees, and complying with labor laws related to minimum wage, working hours, and employment contracts.

What is the minimum wage in Bosnia and Herzegovina?
The minimum wage in Bosnia and Herzegovina is currently 460 BAM (Bosnian Convertible Mark) per month.

What are the working hours and overtime regulations in Bosnia and Herzegovina?
The standard working hours in Bosnia and Herzegovina are 40 hours per week, with a maximum of 8 hours per day. Overtime is generally paid at a rate of 50% above the standard hourly rate. There are also regulations related to rest periods and annual leave.

Documents required to register a company

Certificate of incorporation or similar document from the country of origin
Articles of association or similar documents outlining the company’s structure and governance
Power of attorney for the company’s representative in Bosnia and Herzegovina
Identification documents for all company founders and shareholders
Proof of payment of registration fees
Bank statement showing the deposit of the minimum share capital
Tax identification number for the company
The specific requirements may vary depending on the type of company being registered and the local regulations in the jurisdiction where the company is being registered. It is recommended to consult with a local expert or attorney for guidance on the specific requirements for company registration in Bosnia and Herzegovina.

Type of Banks in Bosnia and Herzegovina

UniCredit Bank

www.unicreditbank.ba
Retail banking
Corporate banking
Investment banking
Private banking

Raiffeisen Bank

www.raiffeisenbank.ba
Retail banking
Corporate banking
Investment banking
Asset management

Intesa Sanpaolo Bank

www.intesasanpaolobanka.ba
Retail banking
Corporate banking
Investment banking
Wealth management

NLB Bank

www.nlb.ba
Retail banking
Corporate banking
Investment banking
Leasing and factoring

Addiko Bank

www.addiko.ba
Retail banking
Corporate banking
SME banking
Factoring and leasing

“Our team can provide assistance if you need to open a bank account in Bosnia and Herzegovina”

The top universities in Bosnia and Herzegovina

University of Sarajevo
located in Sarajevo, the capital city of Bosnia and Herzegovina.
Website: www.unsa.ba.
Major courses: Medicine, Law, Economics, Electrical Engineering, Computer Science.

University of Mostar
located in Mostar, a city in southern Bosnia and Herzegovina.
Website: www.sum.ba.
Major courses: Economics, Law, Engineering, Humanities.

University of Banja Luka
located in Banja Luka, the second-largest city in Bosnia and Herzegovina.
Website: www.unibl.org.
Major courses: Economics, Law, Engineering, Agriculture.

University of Tuzla
located in Tuzla, a city in northeastern Bosnia and Herzegovina.
Website: www.untz.ba.
Major courses: Medicine, Engineering, Economics, Law.

University of Zenica
located in Zenica, a city in central Bosnia and Herzegovina.
Website: www.unze.ba.
Major courses: Mechanical Engineering, Electrical Engineering, Economics, Information Technology.

“If you need assistance registering for college or university, our team is here to help.”

Strange or unusual to visitors in Bosnia and Herzegovina

Greetings: In Bosnia and Herzegovina, people usually greet each other with three kisses on the cheek, starting from the right cheek. This may be unusual for people from cultures where physical contact is less common.

Coffee culture: Bosnians take their coffee very seriously and it is a central part of their social life. Visitors may find it unusual that coffee drinking can take hours and involve multiple rounds.

Smoking: Smoking is still quite common in Bosnia and Herzegovina, and visitors may find it unusual that people smoke in public places, including restaurants and cafes.

Religious diversity: Bosnia and Herzegovina has a diverse religious makeup, with significant populations of Muslims, Orthodox Christians, and Catholics. Visitors may find it unusual to see mosques, churches, and synagogues in close proximity.

Burek: Burek is a popular dish in Bosnia and Herzegovina, made with flaky pastry filled with meat, cheese, or vegetables. Visitors may find it unusual that it is commonly eaten for breakfast.

Hand gestures: Some hand gestures that are common in other countries may have different meanings in Bosnia and Herzegovina. For example, the “thumbs up” gesture can be considered rude or insulting.

War memorials: Bosnia and Herzegovina has many war memorials and monuments dedicated to the victims of the war in the 1990s. Visitors may find it unusual to see these reminders of the country’s recent history in public spaces.

“Tips for Newcomers: Adjusting to Life in Bosnia and Herzegovina”

Learn the language: Although many Bosnians speak English, it is always helpful to learn the local language. It will help you better communicate with locals and understand the culture.

Be respectful of the culture: Bosnia and Herzegovina has a rich and unique culture, so it is important to be respectful of local customs and traditions.

Try the local cuisine: Bosnian food is delicious and unique, so be sure to try some local dishes. Some popular dishes include cevapi, burek, and dolma.

Take public transportation: Bosnia and Herzegovina has a good public transportation system, including buses, trams, and trains. Taking public transportation can be a great way to explore the country and get to know the locals.

Get to know the locals: Bosnians are friendly and welcoming, so try to meet new people and make friends. This will help you feel more at home in the country.

Be aware of the political situation: Bosnia and Herzegovina has a complex political situation, so it is important to stay informed and be aware of any potential issues.

Enjoy the natural beauty: Bosnia and Herzegovina has stunning natural beauty, including national parks, rivers, and mountains. Take advantage of this and explore the outdoors.

Be patient: Adjusting to a new country can be challenging, so be patient with yourself and give yourself time to adapt. With time, you will start to feel more comfortable and at home in Bosnia and Herzegovina.

Top recruitment agencies in Bosnia and Herzegovina

Kolektiv d.o.o. – https://www.kolektiv.ba/
Mjesečev Personal – https://www.mjesecev.com/
ManpowerGroup Bosnia and Herzegovina – https://www.manpower.ba/
Adecco Bosnia and Herzegovina – https://www.adecco.ba/
Competence Recruitment Solutions – https://competence.ba/
Moje Delo d.o.o. – https://mojedelo.ba/
Workforce d.o.o. – https://www.workforce.ba/
HRejting – https://hrejting.ba/
Profil Kolektiv d.o.o. – https://www.profilkolektiv.ba/
Elite Staffing Solutions – http://www.elitestaffingsolutions.com/

Necessary phone numbers in Bosnia and Herzegovina

Emergency (police, ambulance, fire): 112
Police: 122
Ambulance: 124
Fire: 123
Search and rescue: 121
Road assistance: 1282
Tourist information center: 033 655 710
Foreigners Department of Ministry of Interior: 033 206 496
Sarajevo International Airport: 033 289 100
Bus station Sarajevo: 033 21 31 00
Railway station Sarajevo: 033 655 777
Yellow Pages information: 1182 (national), 1188 (international)

The best way to immigrate to Bosnia and Herzegovina

Family reunification: If you have family members who are citizens or permanent residents of Bosnia and Herzegovina, you may be eligible to join them through family reunification.

Work visa: If you have a job offer from a Bosnian employer, you can apply for a work visa. Your employer will need to provide proof that they have been unable to find a suitable local candidate for the position.

Student visa: If you have been accepted into a Bosnian educational institution, you can apply for a student visa. This type of visa allows you to stay in the country for the duration of your studies.

Investment: If you invest a significant amount of money into a Bosnian business or property, you may be eligible for a residency permit.

Refugee status: If you are fleeing persecution or danger in your home country, you may be able to apply for refugee status in Bosnia and Herzegovina.