Croatia is a relatively small country, but it has a spectacular 6,000 km coastline on the Adriatic Sea with more than 1,100 islands, of which only 66 are inhabited. This coast is considered to be the most beautiful in Europe with innumerable bays, inlets, coves and beaches. There are also many historic places such as Pula, Split, Korcula, Hvar, Trogir, Dubrovnik. On the Adriatic coast alone there are four historic places which are listed as World Heritage sites by UNESCO.
Most islands receive more than 2,600 hours of sun a year. Croatia is divided between the Latin-influenced coast and an interior which is more Central European. The official language is Croatian, although English is spoken widely, particularly in larger cities. The capital is Zagreb with about 800,000 inhabitants.
Croatia was the second largest state in the former Yugoslavia. When Croatia declared independence in 1991, a four-year war with Serbia followed. Although most of Croatia remained untouched by the war, this nevertheless distracted attention from the Croatia's clear seas, over 1,000 islands, romantic fishing villages, beautiful beaches, vineyards, Roman remains and medieval towns. Croatia is now a sovereign state and in 1992 became a full member of the United Nations. Elections in January 2000 brought in a new free-market-oriented government determined to attract foreign investment. The political, social and economic situation is rapidly improving.
The Constitution of the Republic of Croatia, which came into effect in 1991, establishes Croatia as a parliamentary democracy and guarantees the right and inviolability of private property. Also, rights acquired through c apital investment are constitutionally guaranteed. Free transfer and repatriation of profits and capital are guaranteed to foreign investors. Asset forfeiture is possible only following a final court decision.
Before separation from Yugoslavia, Croatia had a well-developed tourist industry attracting about 10 million visitors annually. While the industry is now recovering, Croatia offers excellent opportunities before the crowds return.
Some of the many advantages of Croatia include:
- Most beautiful coastline in Europe with unspoilt nature and rich culture
- Certain income may be received 100% tax-free
- Use of offshore structures is possible for tax planning and privacy
- Possible fiscal incentives for substantial investments
To establish yourself or your business in Croatia will require securing relationships with key partners such as government officials, bankers and corporate professionals. You need experienced consultants to build a network of contacts and help you to become established in your new environment.
The specialised services of Henley & Partners are a resource and complement to major law and consulting firms. We can help other firms and their clients with the unique and specific details required by the business relocation process and related tax planning.
Further Information
Through its well-established Croatian office in Split, on the Dalmatian coast, Henley & Partners assist foreign individuals in real-estate purchase transactions, real-estate structuring, and advise about all aspects of investing and doing business in Croatia. Please contact us for more information or to arrange for an initial personal consultation.
