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The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in almost all of the world's countries. While it was once a complicated corporate endeavor to establish an international business, it is now commonplace with the help of experienced legal and economic advisers.
The advantages of forming a company in a foreign country are as numerous as they are obvious. Many countries offer specific location-based benefits, ranging from natural resources and established infrastructure to favorable laws and regulations that encourage growth in a specific industry. Likewise, it may be difficult to establish a venture or acquisition in one's home country because of disadvantageous situations: political or regulatory environments, lack of resources, and more. In this situation, it is useful to consider an overseas option that offers greater opportunities for growth, development, and success.
Company Registration in Bosnia and Herzegovina When establishing a company in Bosnia and Herzegovina, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors that will affect the establishment and growth of one's business; failure to do so could result in unintended consequences. Poorly-researched and tone-deaf international launches often end in disaster, as time, money, and energy is lost because of poor planning.
Contact us to find out additional information when setting up a business within jurisdiction of Bosnia and Herzegovina.
Legal documents Each country of the world presents its own set of intricate challenges with regard to forming, developing, and sustaining a business. Owners, financiers, and investors must enter into these engagements with the support of a knowledgeable and experienced legal team. Only someone with detailed knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that affect many new companies.
Additionally, shrewd businesspeople may consider opportunities to invest in overseas businesses without actually forming their own companies. In these situations, it still benefits the investor to team up with a knowledgeable adviser in global economics and litigation. International investments create a truly diverse portfolio that offers opportunities for growth that were unthinkable just decades ago.
Potential investors, venture capitalists, and entrepreneurs should consider existing infrastructure in Bosnia and Herzegovina when planning the launch of a new business. While substantial infrastructure and systems can help to make the business establishment a smooth process, it could also represent market saturation and diminished potential for growth. On the other hand, a lack of infrastructure often serves as a major hindrance to growth; however, lack of infrastructure indicates a clear market opening for a creative and efficient new business.
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A subsidiary or daughter company is owned and controlled by another company, called the holding or parent company. Subsidiary companies are very common in the business environment and most multinational corporations operate via these structures. In comparison to creating divisions of a single company, incorporation of subsidiaries as separate legal entities has various benefits. For example, a subsidiary company is required to conform to the tax, liability and other regulations of its home country, not the country of the holding company. For example, a subsidiary company can sue and be sued separately from the holding company and its obligations will not normally be transferred to its parent.
Singapore has managed to position itself as the preferred jurisdiction for businesses of any size seeking to operate in Asia. Singapore’s business environment is favourable to foreign investors due to rather liberal requirements and various benefits, such as a strategic location, the availability of a skilled, multilingual workforce, smart immigration policies, excellent intellectual property protection and an efficient legal system. Among other advantages, Singapore’s taxation policies and tax treaties are certainly worth pointing out and will be discussed further below. More specific benefits of subsidiary incorporation in Singapore include:
Paid-up capital can be in the same currency as that used by the holding company (easier accounting procedure) Freedom to determine the company’s fiscal year, making it possible to match the accounting dates of the holding company (easier accounting procedure) The subsidiary’s name can be different from that of the holding company Freedom to repatriate all profits away from Singapore Main basic requirements During the formation of a subsidiary company, at least one local director needs to be appointed who is a Singaporean citizen or permanent resident or who holds an employment pass. Upon incorporation, a company secretary must be appointed who is also resident in Singapore. The minimum paid-up capital for a subsidiary company is 1 SGD, and this can be 100% owned by the parent company. A subsidiary in Singapore must have an office — either commercial premises or a home office — and statutory records need to be kept there.
To form a subsidiary, the following documents are required:
The holding company’s certificate of incorporation Proof of the holding company’s directors and current registered address Authorisation of signature on behalf of the holding company Copies of the subsidiary directors’ passports Signed consent to act as directors Registered address for the subsidiary Articles of association and memorandum for the subsidiary Possible applications In addition to the various benefits of having a subsidiary company in Singapore, there are circumstances when it is crucial to opt for a subsidiary rather than a branch office or simply a new division. The main purpose of a subsidiary is to allow local or foreign companies to expand their operations. But what if you want to expand your business in a completely different direction to that of your current business? While a branch office is an extension of the parent company and is therefore only allowed to carry out activities which are in line with the purpose of that company, a subsidiary is allowed to perform any activities as long as these are stated at the time of its incorporation.
Taxation for subsidiary companies in Singapore Singapore’s tax system is considered simple and investor-friendly. The corporate tax rate does not exceed 17% and there is no tax on capital gains or dividends. All foreign-sourced income is exempt from tax as long as it has been subject to tax in another country. In addition, Singapore has an extensive list of double tax agreements (DTAs) with over 70 countries around the world, which allows investors to avoid double taxation. This extensive DTA network, together with 0% tax on capital gains and dividends, makes Singapore a smart and financially friendly choice for the incorporation of a subsidiary company.
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Due diligence is an investigation of a company that is usually used before concluding an agreement or starting new business co-operation. Due diligence involves a check of good standing of the company, evaluation of planned earnings and cash flows assessing quality of assets, identifying business risks, highlighting any unexpected issues that might affect execution of agreement, identifying hidden costs, commitments and contingencies, verifying and estimating potential tax exposures and other checks based on case-to-case basis. Due diligence helps to evaluate the fact whether you can trust your business partner through reliability check of new or current business partner in the result providing higher level of security.
Purpose of due diligence The overall objective of due diligence procedure is to check the business partner and draw attention to possible problems or risks. Several types of due diligence exist and the checks depend on each transaction.
Property check Before purchase of real estate - a property check should be done. It involves an intensive study of public registry, namely, if the property is registered correctly, if the owner actually has rights to sell the property or if the property is linked with any other properties. In addition, it implies identification of burden liabilities and any ongoing proceedings involving the property. If the property is rented out or registered any other rights for third persons, encumbrances and other registered restrictions, insolvency proceedings or tax debts, the property check must be done. Due diligence also covers revision of proposed purchase agreement and identification of risks that might affect the completion of the agreement, for example, if the property is rented out then the rent agreement must be taken into consideration.
Reliability check In case of concluding business agreement between two companies, regarding prospective co-operation, the due diligence process would include such topics as: company records at the Company registry approving company name, legal address, officials and shareholders, Value Add Tax registry (VAT public registry), checking VAT tax payer status. Company’s financial stability can be checked at the Insolvency registry, to see if company has or ever had financial problems such as insolvency, temporary suspension of commercial activities, tax debts.
Mergers and acquisitions In case of company acquisition, prior to concluding a share purchase agreement it would be important to assess the financial situation of target company, evaluating such factors as: earnings and cash flow quality, analysis of a quality of assets and liabilities. It is essential to evaluate a quantity and quality of personnel, identifyi the owned property and investigate if no pending issues or proceedings related to company property exist; checking public registries if no commercial pledges, encumbrances, and court proceedings are ongoing and might affect the company assets in future.
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Given that within the European Union there are no withholding taxes on IP royalties between member states, we can suggest a number of countries where royalties are particularly advantageous.
CYPRUS The intellectual property royalties tax regime in Cyprus has changed as a result of the recommendations of the Organization for Economic Co-operation and Development (OECD) Action Report 5 and the Ecofin Council conclusions published on 8 December 2015. Legislation has been changed to limit the companies that can benefit from research and development (R&D) exemptions, but the tax rate in Cyprus is still one of the most favorable in the EU for foreign companies using Cyprus intellectual property want to license -resident companies (intermediaries), where this right is then sub-licensed to the end user. Overall, the effective tax on IP royalty income should be less than 2.5%.
IRELAND In 2015 Ireland introduced an effective corporation tax rate of 6.25% on intellectual property income based on an allowance for research and development costs borne by the company. By linking the two components in this way, Irish law encourages companies to conduct R&D directly within the EU – leading to the creation of intellectual property – while discouraging them from acquiring licenses without directly committing to R&D.
BELGIUM Belgium has introduced a tax system that favors those with income from acquired copyrights. This tax regime can have many different applications and can be used to protect artworks as well as a useful tax break for IT developers. Income from IP rights royalties is taxed at 15%. This income is not taken into account when calculating social security contributions. In addition, these taxes are reduced by 50% for imports due to the application of standard import costs. The first €15,000 that a copyright owner earns in a year is therefore taxed at 7.5%, and the next €15,000 at 11.25%. This tax system applies to people with a total annual income of up to 56,450 euros.
LUXEMBOURG In general, corporate tax in Luxembourg is 29.22%, but for IP licensing income it can be as low as 5.8%. This is due to an 80% corporate income tax exemption. Interestingly, this exemption also applies to companies that have registered a patent for use in connection with their own business, which then calculate a notional net income as if they had received the licensing income.
ITALY Italy is a larger market compared to the other countries discussed and can be a very attractive place for a company to invest in R&D since 2015 companies have been able to deduct intellectual property income from their taxable income base. The tax deduction was set at 30% in 2015, 40% in 2016 and 50% from 2017. Businesses will therefore enjoy a significant tax rebate by reducing their taxable income.
THE NETHERLANDS Since 2010, IP income has been taxed at only 5% in the Netherlands. Except for patents, there is no income limit. Patent holders can actually have access to this tax regime if their share of the expected revenue is between 30% and 70%, taking into account the total combined revenue from patents and other sources. These rates also apply to foreign companies owning intangible assets or companies that have received research and development accreditation from the Dutch Ministry of Economic Affairs if they are owners of software IP or trade secrets. The only other caveat to this favorable tax regime is that it doesn't apply to marketing and branding-related assets.
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Membership in International Unions Whether it is an alliance, incorporated union, federal union or supranational body here is the list of unions the country is a member of. Israel is a member of several unions. They are International Monetary Fund, Organisation for Economic Co-operation and Development, United Nations, World Bank, World Trade Organization.
International Monetary Fund Israel is a member of International Monetary Fund. On 12 July 1954, it joined the IMF as a member. The IMF is an organization headquartered in Washington, D.C., of 189 countries working to foster global monetary cooperation, secure financial stability and facilitate international trade. The IMF now plays a central role in the management of balance of payments difficulties and international financial crises. The union is governed by and accountable to the all 189 member countries. As of 2010, the fund had SDR 476.8 billion (about US$ 755.7 billion).
Organisation for Economic Co-operation and Development Israel is a member of Organisation for Economic Co-operation and Development. On 7 September 2010, it joined the OECD as a member. The Organisation for Economic Co-operation and Development (French: Organisation de coopération et de développement économiques, OCDE) is an international economic organisation of 34 countries, founded in 1961 to stimulate economic progress and world trade, and promote policies that will improve the economic and social well-being. It is a forum in which governments can work together to share experiences and seek solutions to common problems. OECD work with governments to understand what drives economic, social and environmental change. OECD measures productivity and global flows of trade and investment.
United Nations Israel is a member of United Nations. On 11 May 1949, it joined the UN at its inception date as a full member state. Founded in 1945, the United Nations is an intergovernmental organization to promote international co-operation. The work of the United Nations are guided by the principles contained in its founding Charter. It is currently made up of 193 Member States. The headquarters of the United Nations is in Manhattan, New York City, further main offices are situated in Geneva, Nairobi and Vienna. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing aid.
World Bank Israel is a member of World Bank. On 12 July 1954, it became a member of the World Bank Group. The World Bank is international financial institution that provides loans to developing countries. It's like a cooperative, made up of 189 member countries. These member countries are represented by a ministers of finance who are the ultimate policymakers at the World Bank. The World Bank's official goal is the reduction of poverty.
World Trade Organization Israel is a member of World Trade Organization. On 21 April 1995, it joined the WTO as a member. The World Trade Organization is an intergovernmental organization which regulates international trade. At its core are the WTO agreements ratified in national parliaments. It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence.
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Estonia has a corporate tax rate of 20%. Companies that operate under VAT have to pay tax on purchases at 20%. Certain services, like those related to pharmaceutical products, medical equipment for disabled persons, books (excluding e-books), newspapers and periodicals, hotel accommodation, and others, benefit from a 9% VAT rate.
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Slovakia is considered a large nation due to its total area. Its total land area is 49,035 km² (about 18,932 mi²). The continental shelf of Slovakia is approximately 0 km². Slovakia is in Europe. Europe is a continent whose borders date back to ancient times. European countries include the United Kingdom, Italy, Germany, Switzerland, Luxembourg, Malta and the Vatican, among others. Slovakia has 5 neighboring countries. Its neighbors include Austria, the Czech Republic, Hungary, Poland and Ukraine. Slovakia is a landlocked country. Average altitude range of Slovakia is 458 m (1,503 ft).
Neighbors The total length of land borders of Slovakia is 1611 kilometers (~622 mi). Slovakia shares land borders with 5 different countries and has the same number of unique land borders with neighboring territories. If, as in the case of Slovakia, a country has the same number of distinct neighboring areas as land borders, then that country does not have non-contiguous sections of a land border. This is in contrast to several countries that have multiple non-contiguous stretches of land borders. Slovakia has 5 neighboring countries. Its neighbors include Austria, the Czech Republic, Hungary, Poland and Ukraine. The lengths of land borders of Slovakia with its neighboring countries are as follows:
Austria - 91 km (57 mi), Czech Republic - 215 km (134 miles), Hungary - 677 km (421 mi), Poland - 444 km (276 mi), Ukraine - 97 km (60 miles).
Cities The capital of Slovakia is Bratislava. The largest city in Slovakia is Bratislava.
Elevation Average altitude range of Slovakia is 458 m (1,503 ft). The highest point in Slovakia is Gerlachovský štít with an official elevation of 2655 m (8,711 ft). The lowest point in Slovakia is Bodrog. It is 94 m (308 ft) above sea level. The difference in altitude between the highest (Gerlachovský štít) and lowest (Bodrog) points in Slovakia is 2561 m (2 ft).
Area The total land area of Slovakia is 49,035 km² (about 18,932 mi²). and the total Exclusive Economic Zone (EEZ) is 0 km² (~0 mi²). The continental shelf of Slovakia is approximately 0 km². Including the landmass and the EEZ, the total area of Slovakia is approximately 49,035 km² (~18,932 mi²). Slovakia is considered a large nation due to its total area.
Forest and farmland 20,006 km² of Slovakia's territory is covered with forests, and forest areas make up 41% of the total area of the country. There are 14,264 km² of arable land in Slovakia, which makes up 29% of the country's total area.
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The total population of Poland is 38,104,832 people. People in Poland speak the Polish language. The linguistic diversity of Poland is almost homogeneous according to a fractionation scale, which is 0.0468 for Poland. The average age is around 39.5 years. Life expectancy in Poland is 77 years. The female fertility rate in Poland is 1.3. Around 25% of the Polish population is obese. Ethnic diversity is nearly uniform according to a fractionation scale, which is 0.1183 for Poland. Details of the language, religion, age, gender distribution and advancement of the people of Poland can be found in the sections below, as well as the section on education in the country.
Population In Poland, the population density is 123 people per square kilometer (320 per square mile). Based on these statistics, this country is considered densely populated. The total population of Poland is 38,104,832 people. Poland has approximately 619,403 foreign immigrants. Immigrants in Poland make up 0.3 percent of the total number of immigrants worldwide. Immigrants in Poland make up 0.9 percent of the total number of immigrants worldwide. The ethnic diversity of Poland is almost uniform according to a fractionation scale based on ethnicity. Ethnic Fractionation (EF) deals with the number, size, socioeconomic distribution, and geographic location of diverse cultural groups, usually within a state or some other demarcated area. Specific cultural characteristics can refer to language, skin color, religion, ethnicity, customs and traditions, history, or other distinctive criteria, alone or in combination. These characteristics are often used for social exclusion and power monopolization. The index of ethnic fractionation in Poland is 0.1183. This means that people living in Poland come from a narrow group of ethnic groups, all of which are related to one another. EF is usually measured as 1 minus the Herfindahl concentration index of ethnolinguistic group proportions, which reflects the probability that two randomly drawn individuals from the population belong to different groups. The theoretical maximum of EF of 1 means that each person belongs to a different group. Read Poland's median age and gender distribution statistics at different ages below.
Age The average age is around 39.5 years. The average age of men is 37.9, the average age of women is 41.3.
Gender The sex ratio, or number of males per female (estimated at birth), is 1.06. It can be further broken down into the following categories: sex ratio below 15 - 1.06; sex ratio from 15 to 64 - 0.99; sex ratio over 64 - 0.62; Overall sex ratio - 0.94. The overall sex ratio differs from the sex ratio estimated at birth. This is because some newborns are included in the sex ratio estimated at birth, but die within the first few weeks of life and are not included in the overall sex ratio.
Religion The majority religion in Poland is Christianity, whose adherents make up 94.3% of all religious believers in the country. Christianity is an Abrahamic monotheistic religion based on the life and teachings of Jesus Christ as presented in the New Testament. Christianity is the largest religion in the world with over 2.4 billion followers known as Christians. Christians believe that Jesus is the Son of God and the Savior of mankind, whose coming as Christ or Messiah was prophesied in the Old Testament. Besides Christianity, there are several other religions in the country. Other religions in Poland are Hinduism, Buddhism. Poland's religious diversity is vaguely diverse according to a fractionation scale based on the number of religions in Poland. The index of religious fractionation in Poland is 0.1712. This score means that within the country there is a major belief with a few other subordinate beliefs.
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16.03.2025 16:24