Slide FORMS OF BUSINESS FOR FOREIGNERS You choose the form of business according to your goals and needs. Entrepreneurs, companies (LLC, partnerships and limited partnerships), joint stock companies, branches and representative offices of foreign companies, cooperatives, cooperative associations and non-governmental organizations are registered in the Agency for Business Registers. The most common form is an entrepreneur, a natural person who performs activities for the sake of income. Registration is faster and cheaper, with lower fees and the possibility of lump sum payment of taxes and contributions. The disadvantage is that the entrepreneur is liable with his entire assets for the obligations arising from the business.

Slide A lump sum is the most common form of entrepreneur. Taxes and contributions are paid monthly on a fixed basis, and the annual turnover must not exceed six million dinars. It is mandatory to keep KPO - Business Book on Traffic. The request for flat-rate taxation is submitted during registration. A limited liability company (LLC) is the second most common form. It has the status of a legal entity and its members are liable only to the extent of their role. The advantages are reduced personal responsibility and flexible management, while the costs of registration, business and taxes are higher, with the obligation to keep double bookkeeping.