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Bosnia and Herzegovina

The ISO code of Bosnia and Herzegovina is BA according to the ISO 3166 standard. The local name of the country is Bosna i Hercegovina. Bosnia and Herzegovina capital city is Sarajevo. People in Bosnia and Herzegovina speak the Croatian, Bosnian, and Serbian languages. In the year 753, Bosnia and Herzegovina emerged as a sovereign political entity. The largest city in Bosnia and Herzegovina is Sarajevo.

Bosnia and Herzegovina is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Bosnia and Herzegovina is .ba. The International dialing code for Bosnia and Herzegovina is 387. People in Bosnia and Herzegovina drive on the right side of the road. Total land area of Bosnia and Herzegovina is 51,197 km² (approx. 19,767 mi²). Bosnia and Herzegovina is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Bosnia and Herzegovina

Bosnia and Herzegovina is located in Europe. Bosnia and Herzegovina is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Bosnia and Herzegovina faces various issues, including air pollution from metallurgical plants, sites for disposing of urban waste are limited, water shortages and destruction of infrastructure because of the 1992-95 civil strife, deforestation.

Doing business in Bosnia and Herzegovina

We offer various corporate services in Bosnia and Herzegovina jurisdiction. These services can serve both, people coming from Bosnia and Herzegovina and foreigners. If you plan on doing business in Bosnia and Herzegovina you might be interested in contacting us.

To find out about starting your business in Bosnia and Herzegovina click on company formation in Bosnia and Herzegovina.

To find out how to open a bank account in Bosnia and Herzegovina and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Bosnia and Herzegovina.

Choose preferred service below or continue reading to find out more about Bosnia and Herzegovina.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Bosnia and Herzegovina

The total population of Bosnia and Herzegovina is 3,503,554 people. In Bosnia and Herzegovina, the population density is 75 people per square kilometer (195 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Bosnia and Herzegovina is 0.63. Bosnia and Herzegovina has approximately 34803 foreign immigrants. The median age is approximately 40.8 years. In Bosnia and Herzegovina, 65.36 in every 100 people use internet. Bosnia and Herzegovina has a Human Development Index (HDI) of 0.731.

The majority religion of Bosnia and Herzegovina is Christianity, Bosnia and Herzegovina is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Bosnia and Herzegovina.

Culture of Bosnia and Herzegovina

People in Bosnia and Herzegovina speak the Croatian, Bosnian, and Serbian languages. According to data on inbound tourists in Bosnia and Herzegovina, 529,000 tourists arrive in the country each year. The first McDonalds in Bosnia and Herzegovina was opened on 20 July 2011, and it was located in Sarajevo. One of the most popular national dishes of Bosnia and Herzegovina is bosnian pot. To read more click on culture of Bosnia and Herzegovina.

Geography of Bosnia and Herzegovina

Bosnia and Herzegovina is considered to be a large nation because of its total area. Its total land area is 51,197 km² (approx. 19,767 mi²). Bosnia and Herzegovina is located in Europe. Its capital city is Sarajevo. Bosnia and Herzegovina has 3 neighbouring countries. Its neighbours include Croatia, Montenegro, and Serbia. Total length of land borders of Bosnia and Herzegovina is 1543 kilometers (~596 miles).

The highest point of Bosnia and Herzegovina is Maglić, with its official height being 2386 m (7,828 ft). Including land mass and EEZ, the total area of Bosnia and Herzegovina is approximately 51,247 km² (~19,786 mi²). The most notable natural resources found in Bosnia and Herzegovina are coal, iron ore, bauxite, copper, lead, zinc, chromite, cobalt, manganese, nickel, clay, gypsum, salt, sand, timber, hydropower.To read more click on geography of Bosnia and Herzegovina.

Economy of Bosnia and Herzegovina

The currency of the country is Bosnia and Herzegovina convertible mark. The symbol used for this currency is Km., and it is abbreviated as BAM. 25.6% of population in the country are unemployed. The total number of unemployed people in Bosnia and Herzegovina is 896,910. Each year, Bosnia and Herzegovina exports around $5.69 billion and imports roughly $10.3 billion. The Gini Index of the country is 36.2. Bosnia and Herzegovina has a Human Development Index (HDI) of 0.731.The Global Peace Index (GPI) for Bosnia and Herzegovina is 1.839. Bosnia and Herzegovina has a government debt of 30.8% of the country's Gross Domestic Product (GDP), as assessed in 2014. Bosnia and Herzegovina is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are steel, coal, iron ore, lead, zinc, manganese, bauxite, aluminum, motor vehicle assembly, textiles, tobacco products, wooden furniture, ammunition, domestic appliances, oil refining.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bosnia and Herzegovina is $38,292 billion. Each year, consumers spend around $15,460 million. The ratio of consumer spending to GDP in Bosnia and Herzegovina is 0%, and the ratio of consumer spending to the world consumer market is 0.0446. The corporate tax in Bosnia and Herzegovina is set at 10%. The maximum personal income tax is%.VAT in Bosnia and Herzegovina is 17%. In 2013, Bosnia and Herzegovina received 571.1 million USD in foreign aid.In 2014, the foreign aid amounted to 625.4 USD.To read more click on economy of Bosnia and Herzegovina.

Infrastructure of Bosnia and Herzegovina

Infrastructure quality in Bosnia and Herzegovina is rated to be at 2.55. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Bosnia and Herzegovina, 100% of the population has access to electricity. There are 155,252 internet hosts in Bosnia and Herzegovina. Bosnia and Herzegovina has 24 airports nationwide.

The logistics performance index of Bosnia and Herzegovina is 2.75. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 2.55. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Bosnia and Herzegovina is 362. To read more click on infrastructure of Bosnia and Herzegovina.

Politics of Bosnia and Herzegovina

Bosnia and Herzegovina, is a federal parliamentary republic. With regard to political and civil freedoms, Bosnia and Herzegovina is 2. Citizens in Bosnia and Herzegovina experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Bosnia and Herzegovina, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Bakir Izetbegović.

According to the World Bank Group, the government effectiveness index of Bosnia and Herzegovina is -0.47. This indicates that the government of Bosnia and Herzegovina is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Bosnia and Herzegovina before considering any business maneuvers.In Bosnia and Herzegovina, the legislative power is vested in a Parliamentary Assembly. The Global Peace Index (GPI) for Bosnia and Herzegovina is 1.839. The strength of legal rights index for Bosnia and Herzegovina is 7. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Bosnia and Herzegovina received 571.1 million USD in foreign aid. In 2014, the foreign aid amounted to 625.4 USD. Bosnia and Herzegovina is a member of the United Nations (UN). On 22 May 1992, it joined the UN as a full member state. Bosnia and Herzegovina is a member of the World Bank. To read more click on politics of Bosnia and Herzegovina.

Environment of Bosnia and Herzegovina

Bosnia and Herzegovina emits 6.2 metric tons per capita of CO2. 25599 km² of Bosnia and Herzegovina's territory is covered in forests. and forest land comprises 50% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Bosnia and Herzegovina is 362. To read more click on environment of Bosnia and Herzegovina.

Company formation in Bosnia and Herzegovina

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Bosnia and Herzegovina.

When establishing a company in Bosnia and Herzegovina, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Bosnia and Herzegovina that will affect the establishment and growth of one's business. Contact us or click on company formation in Bosnia and Herzegovina to read additional information when setting up a business.

Bank account opening in Bosnia and Herzegovina

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Bosnia and Herzegovina. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Bosnia and Herzegovina, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Bosnia and Herzegovina or contact us.