Of course I am the author of that article.
I have been monitoring the founding of on limited liability company and the costs it has incurred. Due to the details of the founding and the inexperience in the real world, I have chosen an entrepreneur beginner and the business of the family home. Total costs of the founding and registration are around 25.200,00 kunas.
Everyone of you sometimes have an idea of starting their own business. But idea can’t be realized without a solid form of doing business, like a company, crafts, cooperative, family agricultural estate or freelancing. Once you put everything down and see what would be the best form for the realization of your idea then you have to decide what to register.
I wanted to show on a practical example how a limited liability company can be registered, for working at home.
That’s why I have chosen an entrepreneur beginner and went through all the phases of founding a ltd for work at home, of course marking all the expenses.
Now when we have been through all those phases we can tell you: “Nothing is hard if you have a goal, if you are persistent and if you have experts helping you.”
Founding the ltd can be divided into a couple of steps:
*Gathering the basic data
You have to know that there are many ways to gather info on founding a ltd. but the simplest way is to go to HITRO.HR – service available within a Financial agency (FINA). You can get all the info in one place and do most of the steps there.
Our entrepreneur went to Osijek HITRO.HR (phone 031/222 285, info phone 0800 0080) where she got all the necessary data. First step is choosing a name. we arrived at the HITRO.HR counter with a couple of names and the kind clerk checked them for us to see if they are valid for a ltd. Our entrepreneur was able to see all the fees and costs for founding a company and received a form of warrant that has to be ratified at the notary.
Couple of names didn’t check, and only the third one got the green light. Since it was a name of a person later on she had to give an explanation why she wants that name (in our case it was the name of our entrepreneurs grandmother).
**Auditor and notary
When founding a company the founder has to invest minimum base capital in amount of 20.000 kunas. Entrepreneur decided on that minimum amount and invested 10.000 kunas cash and 10.000 kunas in equipment.
Due to the decision to invest half in equipment entrepreneur had to ask, via a written request, from the Trade court in Osijek to name a auditing company. The day after submitting a request Trade court named a auditing company that soon afterwards in a very professional way did a audit of the company founding (Audit report).
With two Audit reports, copies of identification cards of the founder and member of board and warranty for HITRO.HR entrepreneur goes to the notary office to file the needed documentation. At the notary office entrepreneur named her need for doing the business of the future firm for which it has been registered.
After a couple of days, when called, she goes to the notary and validates Application for registering into a Court register (form Po), founding act – Statement o founding a company, Statement of the members accredited to represent the company that they accept the responsibility, Decision on naming the members of the Board, directors and Board members signature, and the Agreement of investing equipment as part of the base capital.
At the same time entrepreneur had to give a Statement to explain the naming of the company since the name was after her grandmother.
With the Application for registering into a Court register and other annexes founder and a Board member go to HITRO.HR where they file the documents at the HITRO.HR counter at FINA. Shortly the clerks of HITRO.HR service gave the needed directions and we had a couple of days to wait for the Trade court decision. At the FINA counter founder did all the payments.
***Trade court decision
Entrepreneur wanted to open a family home for at most 20 users in form of permanent accommodation which lengthened the process somewhat.
Law on social care permits doing this service only in form of ltd. company. She had to go to the notary once again to sign a arraignment on naming the director by the company assembly and the statement of the functioning of the family home outside of the social care network which enables her to file a request for making a decision on fulfilling regulated conditions, according to the law, without filling a request for giving out a permission.
Very soon a call from HITRO.HR followed that called her to come for the Decision of registering at the court register as well as a Notification of categorization of the business subject according to the National classification of services by the Central bureau of statistics.
The whole procedure lasted for 15 days.
**** Seal and opening an account
The whole job is not over until you make a seal and open an account. Seal can be made at , for that registered, entrepreneurs, and it was done in two days.
With the decision of registering at the court register (attach a copy, original bring for checking), Notification of categorization of the business subject by the Central bureau of statistics, seal and ID card of the persons that will be cosigners of the account where the entrepreneur opened an account for regular business transactions.
Account has been opened with the beforehand filling a request for opening a business account and signing a Contract on opening and running a business account.
Account can be opened at the HITRO.HR counter for the bank for which FINA does the job of opening an account or intermediates in doing those jobs or in a bank of your choice.
Next we had to register the firm at the tax office, competent for the area where the base of the company is because it has to be registered in the register of the profit tax payers (you have to show them Decision of registering at the court register, Notification of categorization and signature card).
You still have 15 days since you start doing business to register at the Croatian pension fund and Croatian health insurance. You can do that also at the HITRO.HR counter.
***** Costs of founding and registering ltd.
You can make all the payments at HITRO.HR counter.
We have counted all the costs whose structure and amounts are as follows:
- judicial fee for naming an auditor 250,00 kn
- audit of the company founding 732,00 kn
- making and validating act for the Trade court, notary 2.804,00 kn
- founding capital, money 10.000,00 kn
- founding capital, equipment 10.000,00 kn
- receipt on the paying the founding capital 23,79 kn
- judicial fees 400,00 kn
- costs of the announcement in the Official Gazette 810,00 kn
- Central bureau of statistics fee 55,00 kn
- seal 140,00 kn
TOTAL: 25,214,79 kn
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