Draft Law on Amendments to the Law on Business Companies Adopted

SARAJEVO, (Patria) - The Government of the Federation of BiH today adopted the Draft Law on Amendments to the Law on Business Companies, aiming to create normative prerequisites for attracting as many domestic and foreign investments as possible.

The amendments and additions provide for the simplification of business entity registration in the Federation of BiH by establishing a one-stop-shop system.

In this context, the Federal Government expresses a strong commitment to simplifying registration procedures and strengthening transparency in this area.

One of the novelties is that the registration in the companies' register, the keeping and maintenance of the register in printed and electronic form, and the publication of the registration are carried out in accordance with the regulations on business entity registration in FBiH. The founding act in the form of an electronic document contains the founders' signatures in accordance with the regulations governing electronic signatures and electronic documents in the Federation of BiH.

As explained, after the Government of FBiH adopted the Reform Agenda, further activities were identified aimed at continuing to harmonize the business environment and strengthen the single economic space in BiH. With the aim of simplifying business entity registration, the Government opted for establishing a one-stop-shop system for business entity registration.

In this regard, an interdepartmental working group was established to analyze the situation, create and implement recommendations for establishing this system, with the support of the British Embassy and the World Bank Group. The Government of the Federation of BiH is committed to continuing to invest efforts in order to simplify procedures and strengthen transparency in this area.