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Bosnia and Herzegovina
Local legal address (Handled by B2B Hub)
2.Proof of Residence
Bosnia and Herzegovina
Bosnia and Herzegovina
Bosnian, Croatian, Serbian
3,320,928 (as of 2019)
Q: What are the different types of companies that can be formed in Bosnia and Herzegovina?
A: The most common types of companies that can be formed in Bosnia and Herzegovina are limited liability companies, joint-stock companies, and partnerships.
Q: What is the process for registering a company in Bosnia and Herzegovina?
A: The process for registering a company in Bosnia and Herzegovina involves obtaining a business license, registering the company with the court, registering with the tax authorities, and obtaining a company stamp.
Q: What are the requirements for obtaining a business license in Bosnia and Herzegovina?
A: To obtain a business license in Bosnia and Herzegovina, you will need to have a registered office address, a legal representative, and a business plan.
Q: What are the minimum requirements for forming a limited liability company in Bosnia and Herzegovina?
A: To form a limited liability company in Bosnia and Herzegovina, you will need to have at least one shareholder and one director. The minimum share capital required is BAM 2,000 (approx. USD 1,200).
Q: What are the tax implications of setting up a company in Bosnia and Herzegovina?
A: Companies in Bosnia and Herzegovina are subject to corporate income tax, value-added tax (VAT), and personal income tax. The corporate income tax rate is 10%, while the standard VAT rate is 17%.
Q: How long does it take to register a company in Bosnia and Herzegovina?
A: The process of registering a company in Bosnia and Herzegovina can take anywhere from a few weeks to several months, depending on the complexity of the company structure and the efficiency of the registration process.
Q: Can foreign nationals own a company in Bosnia and Herzegovina?
A: Yes, foreign nationals can own a company in Bosnia and Herzegovina, but they may need to obtain a residence permit and fulfill other legal requirements.
Q: Are there any restrictions on foreign ownership of companies in Bosnia and Herzegovina?
A: No, there are no restrictions on foreign ownership of companies in Bosnia and Herzegovina, but there may be restrictions on foreign investment in certain sectors.
Q: What are the annual compliance requirements for companies in Bosnia and Herzegovina?
A: Annual compliance requirements for companies in Bosnia and Herzegovina include filing annual tax returns and financial statements, as well as maintaining up-to-date company records and registers.
Q: Can I register a company online in Bosnia and Herzegovina?
A: Yes, it is possible to register a company online in Bosnia and Herzegovina through the online registration portal of the Single Business Registration System (Jedinstveni registar poslovnih subjekata - JRPS).
"Bosnia and Herzegovina has seen a steady improvement in its economy over the past few years. According to the World Bank, the country’s GDP grew by 3.2% in 2019, and is expected to grow by 3.3% in 2020. The unemployment rate has also decreased from 22.2% in 2017 to 19.2% in 2019. Inflation has been relatively low, with an average rate of 1.7% in 2019.
The country’s exports have also seen a steady increase, with exports reaching $4.3 billion in 2019, up from $3.7 billion in 2018. The main exports are metals, machinery, and transport equipment. The main trading partners are Croatia, Serbia, and Germany.
Overall, Bosnia and Herzegovina’s economy is showing signs of improvement, with steady growth and low inflation. The country’s exports are also increasing, which is a positive sign for the future."
Taxation in Bosnia and Herzegovina (BiH) is a complex and decentralized system, with taxes being administered by different entities, including the state-level government, the two entities (the Federation of Bosnia and Herzegovina and Republika Srpska), and the Brčko District.
Personal income tax is levied on all residents of BiH, as well as non-residents who earn income in the country. The tax rates are progressive, ranging from 10% to 25%, depending on the income level. The first BAM 12,000 (around USD 7,300) of annual income is exempt from taxation, and there are various deductions and credits available to reduce the tax liability. Non-residents are subject to a flat tax rate of 10% on their Bosnian-sourced income.
Corporate income tax is levied on all companies and businesses operating in BiH. The standard corporate tax rate is 10% on the net taxable income. However, certain businesses such as startups and small businesses may be eligible for tax holidays or reduced tax rates under certain circumstances.
The tax year in BiH runs from January 1st to December 31st. The deadline for filing personal income tax returns is usually March 31st of the following year, while the deadline for filing corporate tax returns is generally June 30th. Taxpayers are required to make advance tax payments on a monthly or quarterly basis, depending on the entity in which they operate.
Payments can be made online or in person at designated banks. The penalty for late payment or non-payment of taxes can range from 0.05% to 0.1% per day of the tax due, depending on the entity in which the taxpayer operates. Additionally, interest may be charged on any outstanding tax liability.
Overall, taxation in BiH is a complex and decentralized system, with different rules and procedures in place depending on the entity in which the taxpayer operates. Therefore, it is important for taxpayers to consult with local tax advisors or government authorities to ensure compliance with the relevant tax regulations.
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