RS: Registration of Companies Will Now Last Three Days

vlada rs2In the RS, a new model will begin today for business registration, so that business registration will take three days instead of the previous 23 days.

For business companies, this reform would reduce the number of procedures, as well as start-up costs for a number of times, depending on the legal form of registered companies.

In the simplest form, such as the one-member DOO with minimum capital requirements (when the founder is a person), this amount will be around 100 BAM, and until now it was 1.130 to 1.532 BAM (with registration of foreign trade activities), announced the RS Press Office.

Reforms is beneficial for the RS, because it establishes a single register of business companies, while currently there are three different registries-judicial, tax and statistical. This reform would create conditions for quality presentation and exchange of data from a simple registry of business companies in the RS in the system of business registries in the RS.

The aim of the reforms, among other things, is the creation of conditions for a simple and inexpensive start of business by young people who do not have capital, but who have ideas. Due to this, the minimum initial capital reduced from 2.000 BAM to 1 BAM, and the budget has renounced court and administrative taxes with first registration.

(Source: Fena)

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