ANNOUNCEMENT 01 Oct 2013In October 2013, the government of Croatia announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
Zakon o Strateskim Investicijskim Projektima Republike Hrvatske (2013) "Vodic za Investitore":
The Parliament of the Republic of Croatia in its session held on the 25th October 2013, adopted the Act on Strategic Investment Projects. According to this act, all investments which exceed the value of 150Million Croatian Kuna (corresponding to roughly 25,025,878 US Dollars) will be awarded a strategic investment status as well as the right towards an expedited procedure.
Furthermore, investments that are around 75 million Kuna (corresponding to12,512,939 USD) i.e. lower than 150 million Kuna (or 25,025,878 USD), can also benefit from this act, under the contingency that they have the possibility of being co-financed from the funds and programs of the European Union.
In addition, projects whose value reaches 20 million Kuna (corresponding to 3,336,783 USD) are also encapsulated under the Act on Strategic Investment Projects on the Republic of Croatia, if they are realized on the Croatian islands or if they are realized in the area of agriculture and fisheries.
Projects classified as Strategic Investments, will according to Croatian Law be granted a relatively faster and more solicitous treatment during all the government approval processes revolving around the investments per se. Specifically, for projects classified as Strategic Investments, all official opinions must be reported within 15 days (in exceptional cases within 30 days). Furthermore, the competence for issuing location, construction and usage permits due to this act is completely transferred from local government units to the Ministry of Construction.
The sectors enumerated to benefit from this Act are: Energy Tourism Transport, Infrastructure, Electronic Communications, Postal Services,Environmental Protection, Public Utilities,Agriculture, Forestry, Water Management, Fisheries, Health Care Culture, Science, Technology, Education Defence and Judiciary.