STEP 1 –Entrepreneur Registration
The decision on registration of entrepreneurs is issued by the Department of Economy of the city/municipality (registration authority). The registration authority requires the following documentation:
STEP 2 – STAMP MAKING
The stamp can be made in any authorized stamp maker workshop where it is necessary to show a copy of the decision on performing business activities. The average price of the stamp is 20 – 50 KM.
STEP 3 – ENTREPRENEUR REGISTRATION IN THE TAX ADMINISTRATION OFFICE OF THE REPUBLIC OF SRPSKA
Registration of a taxpayer and/or a contribution payer is to be done at the organizational unit of the Tax Administration in whose jurisdiction is the location of the main place of the business entrepreneur (the entrepreneur is required to submit an application for registration of a taxpayer within 5 days after the decision on the Court Register entry has been issued).
In order to register, the taxpayer and/ or contribution payer has to submit the following documents to the Tax Administration office:
Confirmation of the taxpayer registration will be issued within two or three days after the application has been submitted.
STEP 4 – OPENING A TRANSFER ACCOUNT
You may open a transfer account in any business bank. The procedure requires the following documents:
STEP 5 – FISCALIZATION
Before starting to work entrepreneur is obliged to introduce a fiscal cash register. The price of a fiscal device is between 400-800 KM. This obliged entrepreneur does not have if he performs craft activities and activities of old and artistic crafts and handicrafts.
STEP 6 – REGISTRATION AT THE INDIRECT TAXATION AUTHORITY OFFICE
VAT payers are to be registered at the local centrer of the Indirect Taxation Authority in Bosnia and Herzegovina.
All individuals whose taxable trade of goods or services in the previous year exceeds or is likely to exceed the threshold of 50,000.00 BAM have to register as VAT taxpayers.
Along with the application for registration and registration in a single register of indirect tax payers (form ZR-1), it is necessary to provide a copy, upon presentation of the original or a certified copy of the following documents:
STEP 7 – STARTING A BUSINESS
Entrepreneurs are obliged to start their business not later than 30 days after delivery of the registration decision.
CHANGES OF INFORMATION RELEVANT FOR LEGAL TRANSACTIONS
The entrepreneur must notify the registration authority (by submitting the request form for change of data SP-1) any of the following changes of information:
TEMPORARY SUSPENSION OF BUSINESS ACTIVITIES
Entrepreneurs can temporarily suspend business activities for the total duration of 6 months within the period of 2 years. In special circumstances, the entrepreneur can suspend business activities for a longer period, by proving the existence of the special circumstance:
Once the business activities are resumed the entrepreneur is obliged to notify (in written) the authorities, at the latest by the eighth day upon termination of temporary suspension of business activities.
PERMANENT SUSPENSION OF BUSINESS ACTIVITIES
The entrepreneur has the obligation to unregister the business activities, before the permanent cessation of business activity, by submitting the request form SP-1.
An entrepreneur that conducts business activities in headquarters and in other locations is obliged to unregister these separate units, before submitting the request for permanent cessation of business activities.
REQUEST FOR CHANGE OF INFORMATION
An entrepreneur is not obliged to notify the authorities of changes of general contact information: telephone/fax number, email or internet address. In case that the entrepreneurs wish to notify authorities of these changes in order to update these data in the registry, these changes are not subject to administrative fees mandated for the registration of business.
LEGAL RESPONSIBILITY FOR BUSINESS ACTIVITIES
An entrepreneur is responsible for the legality of business activities that he personally performs as well as for the activities of his employees. Obligations incurred by performing business activities do not cease to exist by suspension of business activities nor by unregistering the business from the business registry.
The entrepreneur that does not notify the authorities about changes of data important for the legal transactions is subject to financial penalties from 1000BAM to 3000BAM. If during the registration process, entrepreneur submits false information or documents with intention of having that information or documents being treated as true, the entrepreneur will be also subject to these financial penalties.
Registry of permits in business sector consists of all permits, laws, and bylaws that regulate these permits, as well as all the permits necessary for conducting of specific business activities.