DOING BUSINESS IN KOSOVO
Since 2003, Healy Consultants has assisted our Clients with business registration in Kosovo. Our services include i) Kosovo company registration ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
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Advantages and disadvantages
Advantages of Kosovo company registration
- A Kosovo limited liability company can be registered with only 1 shareholder and 1 director, who can be of any nationality and need not be a resident of Kosovo. The minimum paid-up capital required is only €1 and our Clients do not need to travel to complete the engagement;
- Kosovo has the lowest tax regime compared to other countries in Europe and Central Asia. Companies in Kosovo are subject to a corporate income tax at a standard rate of only 10%;
- Kosovo’s economy is fast growing and robust, with a GDP of US$7.27 billion and a 3% annual growth rate;
- With a population of over 2 million inhabitants, Kosovo has the youngest population in Europe with 75% under 35 years of age;
- Kosovo offers investors good investment opportunities in lucrative sectors including i) energy ii) metal processing iii) ICT iv) construction;
- Kosovo has a free access to the European Union and the neighboring markets constituting of approximately 500 million consumers;
- The creation of the One Stop Shop for company registration, the Kosovo Business Registration Agency (KBRA), has eased the process and reduced the cost of doing business in Kosovo;
- The Republic of Kosovo has signed bilateral trade agreements with different countries in order to promote foreign investments and to protect investors. Some of the countries include the USA, Belgium, Turkey, Macedonia, and Qatar among others.
Disadvantages of Kosovo company registration
- Registering a public limited company in Kosovo requires i) a minimum share capital of €25,000 and ii) at least 1 fiscal representative in Kosovo;
- In addition to corporate tax, a Kosovo LLC is subject to i) a 10% withholding tax on dividends, interests and royalties distributed abroad and ii) VAT of 16% on local sales in the country;
- The judicial system in Kosovo is porous to political interference. The system lacks resources and proper procedures to deal with complex cases. Enforcing a legal contract may take up to 66 weeks in the courts;
- The Kosovo commercial code requires all legal entities to appoint a statutory auditor if it meets two of the following conditions i) its total assets exceed €2 million ii) its annual turnover exceeds €4 million iii) it has more than 50 employees within that fiscal year.
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- Time to incorporate: Four weeks
- Cost to set up: €8,750
- Minimum capital: €1
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 10%
- Corporate tax base: Worldwide
- Shelf companies: No
- Main company type: SH.P.K