May 21, 2021
Here is the procedure for founding a company in the Republic of Srpska (ltd. company with 1 founder and with minimal founding capital - 1BAM)
Activities for the registration are:
1. The foreign citizen/founder needs to get a certificate of residence from his country.
2. If a foreigner will be a director then he needs to insist on the border for the stamp in his passport (with the stamp he will get a permit for the stay in Bosnia in office for foreigners which is important for the process – cost 6 EUR).
3. If a BH citizen will be a director then a foreigner doesn’t need this permit, but a BH citizen needs to bring ID with himself and a certificate of residence.
4. We will prepare all founding documents and arrange a meeting in the notary office.
5. In the notary office, you need to have an official translator if a foreigner doesn’t speak Serbian (cost 50 EUR) – We need to know which language is his mother language so we could arrange the translator.
6. After the notary office, you need to go into the bank to deposit company capital (minimal capital 0,55 EUR – 1 BAM) on the account and to pay 18EUR for registration administrative costs (possible cash payments).
7. Then you need to go to tax administration to get a certificate of settled tax liabilities for the founder (But actually there you will need to get 2 papers, first one is nonresidential tax number which you will apply for getting the final paper. You need to wait a few days for the second paper but BH citizen can pick it up with a letter of the authorization, so foreigner doesn’t need to wait for it – we can prepare that letter for you if you want and manage all papers for you)
8. The duration of the registration process is 5-6 working days after you apply all papers in the APIF (agency for the registration)
The rule of picking up the registration document is that owner, director or authorized attorney can pick it up – no other persons can do it for you.
The step after taking that registration document is that the director goes and makes a stamp for your company (cost 20 EUR), and then, with the stamp and some other papers, goes to the bank to open a transaction account. With that step, your company is operational.
But if you have an intention to import/export goods you will need to apply for (export/import) customs number – that is the new step with VAT administration.
Things you will need to prepare so the notary office could prepare the documents are:
1. Few suggestions for company names so we could check availability and use one of them for document preparation.
2. To tell us which business activities (codes) to pick for your company to be registered (codebook is available only in domestic languages). There is no codebook in English.
3. Scan of the founder's passport.
4. Legal residence addresses of the founder/director.
If we need anything more we will be in touch. For any question be free to ask!