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Set up Limited Liability Company in Croatia

Updated on Tuesday 16th October 2018

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set-up-limited-liability-company-in-croatia.jpgThe generous business market in Croatia is reflected by the stable economy and the well-developed industries. Foreign investors can set up companies in Croatia with fewer formalities and less bureaucracy, in agreement with the laws governing this country. Our company formation agents in Croatia are at your disposal with complete information about how you can open a limited liability company in Croatia or any other business structure in this country.
 

What is a DOO in Croatia?

 

A DOO in Croatia defines a limited liability company, that is called Drustvo s Ogranicenom Odgovornoscu. Limited liability companies in Croatia are the most common structures used for businesses, especially by small-sized companies, due to their simple incorporation procedure in CroatiaThe minimum share capital which must be provided in order to set up a limited liability company in Croatia is EUR 2,500 or HRK 20,000. The contribution can be made in cash, material goods or commercial rights. The initial capital must be deposited in the national currency of Croatia. As for the owners of a DOO, one or more shareholders can set up a limited liability company in Croatia. They can be either individuals or corporations and they can have any foreign citizenship or residence. Shareholders’ liability is limited when it comes to the company’s debts and obligations and it is extended up to their own contributions.

 

What is the management structure of a limited liability company in Croatia?

 
The minimum management structure of a limited liability company in Croatia is a director or president. He must be appointed by the shareholders and he can be Croatian or a foreign citizen. The manager can also represent the company in Croatia in front of third parties whenever it is the case.
 

How can a limited liability company in Croatia be verified?

 

All limited liability companies in Croatia must submit the annual financial statements regarding their commercial activities and all their transactions. These statements must be audited and approved by authorized public accountants in Croatia.

 

Are there other requirements for a limited liability company in Croatia?

 

As far as the name of the limited liability company in Croatia is regarded, it must be unique and not similar to any other name of a Croatian company. In order to check if the chosen name for the limited liability company in Croatia has already been used, one can search the database of the Croatian Register of Companies.

 

Opening a private limited liability company in Croatia

 
A private LLC in Croatia is the type of company which cannot trade its shares publicly. This type of business structure is normally controlled by a board of managers appointed by the shareholders of the company. The registration process takes place at the Trade Register in Croatia if the Articles of Association are submitted in accordance with the requirements of this institution. Such documents need to contain:
 
  • information about the owners (their names and their nationality);
  • details about the minimum share capital and the contribution of the owners;
  • the date when the private limited liability company opens in Croatia;
  • complete information about the responsibilities of the owners and of the directors.

 

Who can open a DOO in Croatia?

 
Both domestic and foreign investors looking for business in Croatia and an easy structure should decide on a limited liability company. Being subject to fewer formalities at the Trader Register in Croatia, a DOO is in most cases ready to operate within a few working days. Our consultants can handle the registration process of a  DOO in Croatia, so do not hesitate to get in touch with us.
 

The management of a DOO in Croatia

 
Controlling an LLC in Croatia means respecting the provisions of the Company Act in this country. The board of directors is in charge of the company’s decisions, in compliance with the owner’s requirements or needs. A DOO in Croatia has directors with full liabilities on their actions and in charge of the company’s operations. They can represent the firm and its interests in the market and they can decide on the direction of the business. If you would like to know more about the company management in Croatia, we invite you to talk to our team of advisors at any time.
 

Post-registration requirements for DOOs in Croatia

 
The certificate of incorporation is issued as soon as all the documents and formalities are accepted by the Trade Register in Croatia. Before going on the market, the company needs to be registered with the Croatian tax authorities, especially if it is subject to VAT payments. The future transactions of the firm are made through the company’s bank account which is different from the one opened for the minimum share capital, but not mandatory. Find out information in this sense from our advisors.
 

Closing a DOO in Croatia

 
If for varied reasons, mostly financial, an entrepreneur decides to close the company, it is suggested to bear in mind the requirements in this matter. Among these, the decision, in this case, is comprised by a document which needs to be provided to the Commercial Court in Croatia that decides on the liquidation process date. In this stage, the company will change its name by adding liquidation next to it. The company’s accounts need to be verified and closed, the remaining assets or debts need to be collected, and the financial documents summing up all the operations of the firm must be submitted to the Trade Register.  A certain fee is required for the company liquidation procedure, but for more details in this sense, you may address to our consultants.
 
For more information about setting up a limited liability company, feel free to contact our company incorporation specialists in Croatia.

 

 

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