Permanent residency for Bosnia and Herzegovina

The permanent residence permit of Bosnia and Herzegovina can be granted to a foreigner under the following conditions:

• he/she has settled in Bosnia and Herzegovina, at least five years before applying for permanent residency in Bosnia and Herzegovina,
• he/she has sufficient and regular means to support himself / herself,
• he/she has confirmed the appropriate accommodation in Bosnia and Herzegovina,
• he/she has approved health insurance,
• he/she knows one of the official languages and alphabets of Bosnia and Herzegovina,
• he/she is not subject to criminal prosecution and has not been convicted of a criminal offense,

To apply for permanent residence of Bosnia and Herzegovina, the required documents must be submitted in the original or verified copy. All the foreign language documents have to be translated into one of the official languages of the country.

Citizenship for Bosnia and Herzegovina:

Citizenship of Bosnia and Herzegovina can be acquired by:

• By descent

Those who were born to two citizens of the country can get citizenship regardless of where they were born, one of the parents has citizenship of Bosnia and Herzegovina and the child was born in the country, or one parent has citizenship of Bosnia and Herzegovina, and the child was born abroad without citizenship of the country he/she would be stateless without getting a citizenship of Bosnia and Herzegovina

• By birth

A person who is born in the territory of Bosnia and Herzegovina is automatically becoming of the country in case the parents are unknown, or where they would otherwise be rendered stateless.

• By naturalization

For applying for citizenship by naturalization in Bosnia and Herzegovina, you will need to meet the following requirements:

have reached 18 years of age.

have been a permanent resident of Bosnia and Herzegovina for at least three years.

having adequate knowledge of Serbo-Croatian.

passing a criminal record check.

renouncing your previous foreign citizenship for Bosnia and Herzegovina.

Work Permit for Bosnia and Herzegovina

Foreign workers working in Bosnia and Herzegovina should have a work permit for Bosnia and Herzegovina. Although Bosnia-Herzegovina is a candidate for EU membership, it is still not a member of the European Union, so it also applies to EU / AP citizens. Getting a work permit for Bosnia-Herzegovina may be a long process, so it is advisable to apply for work permit in advance. To get permission to work in Bosnia and Herzegovina, you need to be able to work in the country as your prospective employer in Bosnia and Herzegovina should apply for the country’s employment service on your behalf. Once this has been done, the Federal Partnership Agency will approve hiring of a foreign worker for prospective job, after which, you may apply to your local embassy or consulate. Work permit of Bosnia and Herzegovina are granted temporarily and are usually valid for only one year.

Visa for Bosnia and Herzegovina

Those who hold valid multiple entry visa and residents of the states of the European Union, Schengen Area and the United States of America can stay in Bosnia and Herzegovina without a visa for up to 30 days.

In order to obtain a tourist visa for Bosnia and Herzegovina, the following documents are required:

1. Valid passport for visa of Bosnia and Herzegovina
2. Filled visa application
3. Recent passport photograph
4. A document which proofs the applicant’s legal status.

After arriving in Bosnia and Herzegovina, foreigners have to register his/her residence in the country within 48 hours after they entered the country.

The minimum amount of financial means required for each day that the person is going to stay in the country is BAM 150.00.

Business Visa for Bosnia and Herzegovina

Requirements for Business visa of Bolivia:

• Letter from employer or company stating purpose of business trip to Bosnia and Herzegovina
• Invitation Letter (Form 4) and request for verification of issued invitation letter for visa to Bosnia and Herzegovina to be verified either domestically or foreign legal person who is registered with in BiH also verified by Field Office of Bosnia and Herzegovina for the Ministry of Security. Letter of invitation for visa for Bosnia and Herzegovina issued from organization, declares to take full responsible.

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Taxes In Bosnia and Herzegovina

Taxes in Bosnia and Herzegovina include both federal and local taxes. In 2013, Bosnia and Herzegovina’s tax revenues accounted for 28.6% of GDP.

The main source of internal income includes income tax, social security payments, corporate tax, and VAT applied at the federal level.

Income tax is 10% of taxable income, as well as income, interests, royalties, and capital. Social Security is used for the majority of wages.

The employee pays 33% of the gross salary and the employer, plus 10.5%.

The value-added tax in Bosnia is 17% as a standard interest rate.

Different products are accessible from VAT, including medical care, postal services, financial services, education, and various small cases.

Business Establishment in Bosnia and Herzegovina

Investor in BiH can also register their business as a branch.

Business entities that can be formed in the country include:

Unlimited Joint Company, Bosnia and Herzegovina

An unlimited joint company is a company of at least two persons, which holds the company’s unlimited mutual responsibility. The company is based on the founding agreement of two or more domestic/foreign legal entities. Each member has the right and responsibility of the company. The company does not have a law or any governing body because its members directly manage the company, including its representative office.

Limited Liability Company, Bosnia and Herzegovina

Limited Liability Company (LLC) is based on one or more domestic/foreign legal entities under the founding agreement or the approval agreement with the parts divided by the fixed capital. Limited Liability Company is responsible for its investment value. The minimum fixed capital is about 2,000 mm (about $ 1,300).

Limited Partnership, Bosnia and Herzegovina

Limited Partnership Company is a company where one or more members have the responsibility of indivisible solidarity, including the private assets of the members. The risk of one or more members is limited to the value of their share of that company. A limited partnership has been established with the consent of two or more domestic/foreign legal entities. The general partners have the right to manage the business of the company, and the company represents each of the general partners.

Joint-Stock Company, Bosnia and Herzegovina

The joint-stock company is created under the agreement of the creation of one or more domestic/foreign shareholders with shares, distributed by the main capital. The joint-stock company is not liable for the obligations of the shareholders and may be approved by one or more founders. The principal minimum capital is about 50,000 mm (about $ 30,000).

Bosnia and Herzegovina is a part of CEFTA, which creates a free trade zone with access to a large consumer market.

There are a few reasons why to invest in Bosnia and Herzegovina:

1. Stable Financial Sector

Bosnia and Herzegovina have the most expensive currency in South East Europe, which is directly linked to the euro. The Central Bank of Bosnia and Herzegovina maintains monetary stability based on currency stability, with a foreign currency release, with a full freely convertible exchange rate with one fixed point exchange rate. 0, 51129 euros.

2. Favorable Tax System

One of the main reasons for investing in B&H is also favorable tax system. The VAT rate is 17%, which is the lowest in the region. The corporate tax rate in the country is 10%.

Bosnia and Herzegovina legislation is also favorable for foreigners.

Disclaimer for Immigration, Bosnia and Herzegovina

We DO NOT provide consultancy for illegal immigration to Bosnia and Herzegovina and do not promote illegal immigration for Bosnia and Herzegovina, including, illegal residency for Bosnia and Herzegovina or illegal work permit for Bosnia and Herzegovina. Also, we do not entertain agents for illegal immigration for Bosnia and Herzegovina.

Information provided on https://www.millionmakers.com regarding Bosnia and Herzegovina cannot be taken as legal advice in any way, please consult immigration lawyer in Bosnia and Herzegovina for expert legal advice for Bosnia and Herzegovina.

We don’t support or provide any of our services to below mentioned Individuals or category(s) of business in Bosnia and Herzegovina for immigration:

• Any device for Bosnia and Herzegovina that might result in abuse of human rights in Bosnia and Herzegovina or be utilized for torture in Bosnia and Herzegovina.
• Trade in Bosnia and Herzegovina, distribution in Bosnia and Herzegovina and/or manufacturing of arms in Bosnia and Herzegovina, weapons in Bosnia and Herzegovina, ammunition in Bosnia and Herzegovina, mercenary or contract soldiering in Bosnia and Herzegovina.
• Espionage in Bosnia and Herzegovina or technical surveillance in Bosnia and Herzegovina or bugging instrumentation or equipment in Bosnia and Herzegovina.
• Any illegal activities in Bosnia and Herzegovina or criminal activities in Bosnia and Herzegovina or company(s) or individual(s) that are black listed in Bosnia and Herzegovina under The Law of Bosnia and Herzegovina.
• Genetic material in Bosnia and Herzegovina.
• Hazardous or Dangerous or risky biological, chemical or nuclear materials which also includes, instrumentation or machinery accustomed for disposing or manufacturing or handling of any such material(s).
• Trading in Bosnia and Herzegovina, storage in Bosnia and Herzegovina or transportation of Human or animal organ(s) in Bosnia and Herzegovina, use of animals in Bosnia and Herzegovina or abuse of animals in Bosnia and Herzegovina for any scientific or product testing.
• Adoption agencies in Bosnia and Herzegovina, as well as, surrogate parenting procedures in Bosnia and Herzegovina or any kind of abuse of human rights in Bosnia and Herzegovina.
• Non-secular cults in Bosnia and Herzegovina and their charities.
• Pornography in Bosnia and Herzegovina.
• Drug paraphernalia in Bosnia and Herzegovina.
• Pyramid sales in Bosnia and Herzegovina.