A one-stop system for business registration has been introduced in Republika Srpska. This will enable a faster and more favorable registration procedure for businessmen who wish to register their companies and enterprises, said the Head of the Department for Economy in Banja Luka, Radenko Komljenovic.
Until now, businessmen have had to register their companies in several locations. After the introduction of the one-stop system the entire process will be conducted in one place, the Agency for Mediation and Financial Services.
Komljenovic stated that this system will make it easier to track the structure of the business and to make sure it’s performing its duties; it will also provide a simpler link to the Tax Agency and other institutions in Srpska.
In Banja Luka there are is a total of 14,000 economic entities, companies and entrepreneurs. With this new model of business registration, the registration process will take up to three, instead of the previous 23 days.
For businessmen this reformed model has reduced the number of procedures and, in most cases, the costs of starting a business.