Croatia is what the Mediterranean was..
Finance, accounts & tax
Croatia
is assured entry into the EU in a few years and the legal framework is
basically in place, with most favourable terms to foreign investors.Croatia has adopted International Accounting and International Audit Standards.
We specialize in locating finance and partners internationally, as well as in the area.
We work strictly to International Accountancy Standards as well as E.U. / USA government rules for such studies. This incl. America's General Accepted Accounting principles and British GAAP. Have knowledge of old Soviet style accounting.
We are research and asset evaluation experts.
Why
invest in Croatia:
Favourable
legal framework for foreign investments.
Stable and democratic political environment.
Skilled labour force - 20 % unemployed.
Economic stability as a result of
sound macroeconomics policies.
Favourable geopolitical position.
Investor friendly environment.
E.U. Member in a few years.
I.M.F. Program in place.
Stable economic growth.
Stable exchange rate.
Fast growing market.
Low rate of inflation.
W.T.O. Member
BBB rating
Stable and democratic political environment.
Skilled labour force - 20 % unemployed.
Economic stability as a result of
sound macroeconomics policies.
Favourable geopolitical position.
Investor friendly environment.
E.U. Member in a few years.
I.M.F. Program in place.
Stable economic growth.
Stable exchange rate.
Fast growing market.
Low rate of inflation.
W.T.O. Member
BBB rating
An
€ 8.000.000 investment + = 10 years tax free with min. 75
employees,
Concessions possible for 0 % tax for up to 20 years.
100 % foreign ownership of real estate.
Straight-line basis of depreciation - negotiable period.
VAT 22 % - luxury items 30 %
Property transfer tax 5 %
Employee tax 16.60 %
Personal tax only if individual "intentionally" will stay more
than 183 days out of 720.
2003 Figures
$
990.65 million invested in Croatia in first half of 2003
Croatian
National Bank announced that in first six months of fiscal year 2003,
$990.65 million have been invested in Croatia. The total amount of foreign
investment in Croatia from 1993 until June of this year totals more than
8.417 billion dollars. Of that amount, 5.17 billion dollars are direct
owner investments while 1.25 billion dollars falls into withheld earnings,
reinvested in Croatia. Investments during first six months of 2003 have
been bigger than in all of last fiscal year of 2002 when investments in
Croatia totaled 980.51 million dollars.
In 2003, the most foreign investment has occurred in trade, especially in retail (27.54 %). The banking industry comprised 24.23 %, making it the second largest sector. Meat and steel rounded out the top industries at 8.85 % and 6.62 % of foreign investment, respectively
In first six months of fiscal year 2003, the most foreign investment to Croatia came from Austria (30.23 %), followed by the United States (27.54 %), Netherlands (10.69 %), Germany (10.49 %), Slovenia (5.5 %), Luxembourg (3.72 %), Italy (3.69 %), Hungary (2.16 %) and Switzerland with 1.88 %. Out of total foreign investments, the European bank invested 3.25 %, for renewal and development in Croatia.
From 1993 until halfway through 2003, the most foreign venture was invested in telecommunication sector (25.52 %). Foreign investors were also interested in banking (22.98 % of foreign investments), pharmaceutical (13.04 %), cement (3.81 %) and hotel industries (3.24 %).
The most foreign investment so far comes from Austria (24.68 %), Germany (21.95 %), and United States (16.87 %). Next follows Luxembourg (5.79 %), Italy (5.57 %), Netherlands (5.28 %), Slovenia (3.88 %), Great Britain (2.92 %), European Bank for Reconstruction and Development (2.12 %) and Switzerland (1.59 %). During October 2003, Croatia is slated to receive the money (505 million dollars) from the sale of 25 % plus one share of "Ina" to Hungarian oil company "Mol". The fiscal year 2003 thus will be a record year as far as foreign investments are concerned, which could reach as high as $2 billion. This would surpass last year's expectations of most analysts, who expected some $1.5 billion in investment for 2003. So far the record year has been 2001, in which almost $1.56 billion was invested in Croatia.
In 2003, the most foreign investment has occurred in trade, especially in retail (27.54 %). The banking industry comprised 24.23 %, making it the second largest sector. Meat and steel rounded out the top industries at 8.85 % and 6.62 % of foreign investment, respectively
In first six months of fiscal year 2003, the most foreign investment to Croatia came from Austria (30.23 %), followed by the United States (27.54 %), Netherlands (10.69 %), Germany (10.49 %), Slovenia (5.5 %), Luxembourg (3.72 %), Italy (3.69 %), Hungary (2.16 %) and Switzerland with 1.88 %. Out of total foreign investments, the European bank invested 3.25 %, for renewal and development in Croatia.
From 1993 until halfway through 2003, the most foreign venture was invested in telecommunication sector (25.52 %). Foreign investors were also interested in banking (22.98 % of foreign investments), pharmaceutical (13.04 %), cement (3.81 %) and hotel industries (3.24 %).
The most foreign investment so far comes from Austria (24.68 %), Germany (21.95 %), and United States (16.87 %). Next follows Luxembourg (5.79 %), Italy (5.57 %), Netherlands (5.28 %), Slovenia (3.88 %), Great Britain (2.92 %), European Bank for Reconstruction and Development (2.12 %) and Switzerland (1.59 %). During October 2003, Croatia is slated to receive the money (505 million dollars) from the sale of 25 % plus one share of "Ina" to Hungarian oil company "Mol". The fiscal year 2003 thus will be a record year as far as foreign investments are concerned, which could reach as high as $2 billion. This would surpass last year's expectations of most analysts, who expected some $1.5 billion in investment for 2003. So far the record year has been 2001, in which almost $1.56 billion was invested in Croatia.