Bosnia and Herzegovina is an independent industrial state in the southeastern part of Europe. It takes up the Balkan Peninsula’s western parts. The country’s economy is based on the growth of the following industries: mining (rock salt, coal), ferrous and non-ferrous metallurgy, chemical industry, textile industry, electronics, mechanical engineering, food industry, and tourism. In Bosnia and Herzegovina, the Municipal Court of Sarajevo is where the process of registering a company is done. For the company to be registered with the court, you have to fill out a form. You can get this form by downloading it. Once the court process is over, the companies are automatically registered as members of the state, entity, canton, and regional chambers of commerce. In Bosnia and Herzegovina, there isn’t a way to send documents electronically, so everything is done on paper.
Steps on how to register a company
The following are the steps taken:
Get statistics and an identification number
You should add your company to the register of companies at the institute of statistics. A competent tax administration office should get a request for an ID number (which is your company’s “identity card”) and a request for a notice on activity code classification.
Sign up for the VAT system
If a company wants to make more than 50,000.00 (fifty thousand) BAM in sales each year, it must be registered in the registry of taxpayers of indirect taxes after getting an ID number. In this case, the company’s founder or an authorized representative must show proof, like a contract with a client, that the company will make more than 50,000 BAM the following year.
Administrative fees, document copies, and document verification add up to about 50 BAM (25.00 EUR).
Open a bank account
To open a transactional account at a bank, you need to bring in certified copies of the following documents:
- Court decision on company registration in the court registry (not older than six months).
- A certificate with the company’s main ID and customs numbers.
- Signed copies of the people who are allowed to use the account.
- Document copies plus certification cost about 30.00 (thirty) BAM (15.00 EUR).
Register the company and its employees at a tax office
For the company to be registered at the tax office in question, the following documents (originals or certified copies) must be shown:
- Copy of the court’s decision on registering with the court.
- Certificate and ID number decision.
- An application form that is right for the company.
Applying for the first tax stamp
Companies must have their books for keeping track of money. The cost of the cash register machine and its connection is about BAM 700.00 (approx. 350.00 EUR)
Get a service license
You need to show the right municipal or cantonal authority (depending on what your business does) that you have met the technical requirements for your office space so that your business can start providing services.
Make sure your documents and signature are correct
Visit a municipal administrative office to verify copies of the company owner’s ID and the authorized legal representative’s ID (administrative fees can be up to 2 BAM per page). Also the authorized legal representative’s signature (administrative fee for verification of signature amounts to ten BAM).
Register your business
The notary/founder/legal representative sends an application for registration to the Agency for Intermediary, IT, and Financial Services (APIF). This includes all the necessary documents (such as a founding act processed by a notary public, and a verified signature of the legal representative. Get a court decision and a notification on the classification of activities from APIF.
