STEP 1 - ESTABLISHMENT ACT (verification by notary)
STEP 2 - PAYMENT OF BASIC CAPITAL AT A BANK (bank by choice of founder)
STEP 3 - REGISTRATION AT THE INERMEDIARY APIF
STEP 4 - MANUFACTURING THE STAMP
STEP 5 - OPENING A BANK ACCOUNT
Before starting procedure it needs to be decided amount of Founding Capital. If Founding Capital is 1 BAM(0.5 EUR) procedure is less costly (but not to much) and little simpler. If over 1 BAM than cost of establishment act is little higher because of Notary services.
Below are 5 steps that every new Company needs to finish. We can help and organize all actions, so you can finish all procedure in one day. It is very important that you need to come one time in Bosnia.
STEP 1 - ESTABLISHMENT ACT (verification by notary)
A d.o.o. / Ltd Company can be established either by an establishing contract or establishing decision. If the company is to be established by one person, this will be made by the establishing decision. If there are more founders, the company will be established by the establishing contract.
The act of establishment must contain next compulsory elements:
- Name and address of the founders (for individuals), or the name and seat of the founders (for legal entities)
- Name, seat and activity of the new company
- Amount of original capital
- Founders’ rights and obligations (management, distribution of profit etc.)
- Procedure in case that one of the founders did not deposit his share in the specified period or did not fulfil any of his obligations
- Payment of the costs of establishing (by founders or new company)
- Management and representation of the company (it is necessary to nominate the persons authorized to manage and represent the company and also to submit the application with the documentation and complete other actions required for registration of company in the court register)
- Consequences in case of an unsuccessful establishment
- Special regulations if the company is being established for unspecified duration of time
STEP 2 - PAYMENT OF BASIC CAPITAL AT A BANK (bank by choice of founder)
Foreign investors are entitled to open accounts in any commercial bank in domestic and/or any freely convertible currency on the territory of B&H. Payments made in other currencies shall be automatically converted into BAM based on the applicable exchange rate list of the bank. During the process of establishment of the business entity, when submitting the application for entry into the court registry, depending on the type of the business entity concerned, along with the other documents required for registration, it is also necessary to attach the Certificate of Payment of the founders’ equity and the bank (by founder choice) shall issue the Certificate of Payment of the founders’ equity to the client for the needs of registration of the Founders’ equity with the competent court.
When obtaining the payment order, investor should take special care of the following elements:
- It is important to make sure the order contains the exact name of the founder (full name and address)
- If someone else is making the payment, a declaration should be stated that the payment is being made on behalf of the founder (name of the founder, mark as a beneficiary)
- Full name and address of the business entity being founded
- Founding capital (amount in KM)
Issuance of the Certificate requires submitting of the following:
- Original of the founders’ equity payment slip
- Certificate of the payment of fee for issuance of the Certificate of payment of the founders’ equity
- After company registration at the competent court it is necessary to open a regular permanent / transaction account (as it will be described at the Step 5)
STEP 3 - REGISTRATION AT THE GOVERMENT AGENCY APIF
For the registration it is necessary to submit the documentation from step 1 and 2, at the APIF.
STEP 4 - MANUFACTURING THE STAMP
In Bosnia all Companies need to have stamp and its custom to put it on all documents.
In order to manufacture the stamp, it is necessary to attach the court decision of registration of the company into the court registry.
STEP 5 - OPENING A BANK ACCOUNT
In order to open up the bank account it is necessary to attach the certified copies of the following documents:
- Court decision of registration into the court registry
- Identification number (JIB) issued for the Office of Statistics
- ID documents for the persons who need to be empowered to use the bank account (certified copy of the identity card or the passport)