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How to start an LLC company in Croatia and its tax incentives
Croatia is easily reachable through Italy and a part of the country, called Istria, it’s bilingual, therefore both Croatian and Italian are official languages. This Mediterranean country entered the European Union on 1 July 2013 but has kept its currency Kuna (€1 is approximately kn7).
Croatia is offering numerous tax incentives for both local and foreign entrepreneurs, especially for investments in technology, for the purchase of production facilities and for hiring employees. Here are some tax incentives that entrepreneurs that employ workers can enjoy:
- Tax incentives for micro-entrepreneurs: corporate income tax is reduced by 50% for 5 years, starting from the beginning of the investment, provided that at least 3 job positions are offered and kept;
- Corporate income tax is reduced by 50% for 10 years, provided that at least 5 job positions are offered;
- Corporate income tax is reduced by 5% for 10 years for investments from 1 to 3 million Euros, provided that at least 10 job positions are offered;
- Corporate income tax is reduced to 0% for 10 years for investments above 3 million Euros, provided that at least 15 job positions are offered.
The Croatian incentives system was designed to attract investments in production activities that offer job positions or in technological innovation. Croatia is therefore ideal for entrepreneurs that would like to start a small or medium-size business.
There are two more advantages entrepreneurs investing in Croatia can benefit from: the majority of Croatia’s qualified personnel speaks English or Italian, and the price for workforce is low.
For further information, do not hesitate to contact Taxofia on 00386 31 679 430.