Avoiding Company setup rip offs....

[tomB]

We have a lawyer setting up a company for us and is asking us to pay the start up capital to them personally which I beleive could be valid.

A better way to do this would be I think to have my friend in Zagreb to incorporate the company start to finish in his name and then he resigns as a director/s and we sign on as directors. Does anyone know if this process is straight forward and not cost inhibative?

I assume not as properties sold as companies for rett avoidence would do exactly the same procedure.

Best Regards

[FranchiseCroatia]

Personally I would hesitate doing things this way. In order to incorporate (d.o.o.) a company in Croatia, you first need to deposit 20,000 HKN is a new company account. Once that is completed, then you may proceed with registering a company. One important note is that as all newly registered companies must have proof of 20,000 HKN start-up capital, it does not need to be all in cash. It can be furniture reciepts for the business, computers, etc., any reciepts/purchases that you have made for the company.

If you intend on setting up a bank account to deposit the 20,000 HKN, then my suggestion would be to give somebody the power of attorney to sign the bank account forms for you, the rest can be completed through your lawyer and the courier.