The process of registration of a future company in Federation of BiH is a problem for many entrepreneurs, so here you can find a simplified overview of the entire process of registration (of a trade and of a limited liability company), the necessary documents and institutions to which they are submitted, duration of the process and necessary financial funds.
Registration of a limited liability company (LLC):
1. Adoption of the act on forming a LLC and the statute with all attachments certified by a public notary.
- The founding act represents a formal expression of will to start a company and contains basic information such as the name, company headquarters, activities they will perform, determines the person whco will represent the company (director), and other similar relevant information.
- If the LLC is being founded by two or more private persons, it is necessary to form a contract on founding a LLC.
2. Opening a transient account in any business bank and receiving a bank certificate on depositing a basic capital of 2000 BAM.
3. Receiving a tax certificate which confirms that you do not have other business activities in which you haven't settled your tax liabilities, issued by the municipal Tax administration (10-20 BAM).
.4. Certified statement that you do not have other business subject on the territory of FBiH, as well as a certified statement from the director on accepting duties and obligations.
5. Filling court forms for registration of a business organization and submitting the form alongside the founding act, represent a basis for inclusion of Your company into the court register of the cantonal court (approx. 20 BAM).
6. After receiving the court order, the production of a seal with a court certified type-cutter (20-50 BAM).
7. Receiving a permission for work in the competent section for market inspection, after filling the form, submitting a copy of the court order and paying the fee (150 BAM).
8. Submitting a request to receive a statistical number, and incuding the company into the register of companies with the statistics agency of the Federation of BiH (103 BAM + a certified copy of the court order).
9. Submitting a request to receive a tax identification number (certified copy of the court order and the permission to work from the market inspection) in the tax administration (0 BAM)
10. Opening a permanent account in a business bank. You submit to the bank: a copy of the court order on registration, a copy of the decision on allocating a statistical number, a copy of the decision on allocating a tax number, a filled bank for for certified persons who can access the account.
11. Registration of the value added tax payer (if you expect a yearly turnover higher than 50,000 BAM)
12. An application to enter the register of customs payer, completed with the indirect taxation administration of BiH (10 BAM).
13. Registering the company and employees to the fund for pension and disabilities insurance of FBiH.
The entire process of registration of a LLC takes about 30 days. Registration of a trade is a lot shorter, it can be done within two weeks or less depending on the amount of filed request, the size of the Municipality etc.. This is simplier and cheaper, so many people decide to register a trade.
The steps for registration of a trade are following:
1. Submitting a written request to issue a trade license - municipality service (0-2 BAM). You submit the request after acquiring all other necessary documents as listed in the steps below.
2. Certificate of citizenship, birth certificate, and a certified copy of your identification card.
3. Submitting a request to issue a certificate of working ability in the centre for social services of the municipality where you reside (5-20 BAM).
4. A certified diploma and/or degree and qualification exam.
5. A permission for a business space - municipality department of urbanism
6. Tax certificate which confirms you have no other business activities in which you haven't paid your due taxes - Tax administration (10-20 BAM).
7. Acquiring a certificate that you don't have employment - Tax agency (10-20 BAM). The certificate is necessary as proof that your own economic activity is your base profession.
8. Submitting a request to the municipality court for misdemeanor, in the place where you reside, to issue a certificate that you are not banned from your desired activities.
9. Proof of paying the administrative fee for founding a trade (100 BAM).