Government Announces Plan To Attract Investors – €3M Investment – No Tax On Profits

“Those who invest over 3 million euros (in Croatia) will not have to pay tax on profits for 10 years, but with the condition that the investment opens up at least 15 new jobs,” that is what Croatia’s Minister of Economy Ivan Vrdoljak said in Split on Monday when the government launched its “ProInvest” programme.

Vrdoljak, Minister of Enterprise Gordan Maras and Minister for Regional Development and EU Funds Branko Grcic are currently on a nationwide tour presenting the government’s new investment incentive and economic restructuring programme – ProInvest. Vrdoljak has two clear goals in introducing the new programme – to attract foreign and local investment, and to keep people in jobs. Grcic will also educate entrepeneurs how to prepare projects to access funds from the EU coffers.

Vrdoljak also revealed that if small businesses invested 50,000 euros, then they would only pay 10% tax (half of current) on profits for 5 years.

Maras added that the current government had recently made it easier to open a company in Croatia when they introduced a new bill that now means establishing a simple limited liability company only requires 10 kuna (1.30 euro) capital. The initiative resulted in over 3,000 new companies opening in the last 3 months, said the Minister.