- INTRODUCTION - CITIZENSHIP AND INVESTMENT FRAMEWORK
Bosnia and Herzegovina, like most other countries in the world, has a single regulation governing the issue of citizenship. This is the Law on Citizenship of Bosnia and Herzegovina and it prescribes all the grounds for acquiring citizenship of Bosnia and Herzegovina, including the possibility of acquiring citizenship for foreigners which is prescribed under the straight conditions. Citizenship with itself brings many benefits, but primarily gaining that status means easier economic activity in the certain country. Same goes with Bosnia and Herzegovina, as natural person with citizenship does not have to go through a complex procedure during company establishment. This procedure refers to the obtaining a residence and work permit, which are regulated by many different Laws (Law on foreigners BiH etc). By obtaining citizenship of Bosnia and Herzegovina you no longer fall under term foreigner as you are fully operating citizen (no matter it's your second passport), which brings you under the rule of "domestic" Laws such Labour Law of BiH and Law on Companies.
Therefore, it is always easier for natural persons as a domestic citizen to establish a company and start a business.
- DUAL CITIZENSHIP BY INVESTMENT IN BOSNIA AND HERZEGOVINA
As we know – first rule of obtaining any second citizenship is checking up your home country regulation, and if there's no any restriction regarding this subject it may be possible to hold dual citizenship, meaning you can pass on without renouncing the former. Several European countries have enacted liberal laws regarding the acquisition of citizenship for third-country nationals, with the aim of attracting more capital and investment to their countries, where everything bring down to prescribed amount of investment for obtaining desired citizenship (e.g. Montenegro, Malta, Portugal etc.). In addition, some countries simply offer the possibility of direct "buying" citizenship (mostly small and isolated overseas countries/islands).
The Law on Citizenship of Bosnia and Herzegovina does not explicitly prescribe the possibility of acquiring citizenship with a certain amount of investment in Bosnia and Herzegovina.
However, according to the Article 15 of the mentioned Law, one can still sense the possibility of acquiring citizenship for foreigners who are willing to invest in Bosnia and Herzegovina.
This Article refers facilitated acquisition of citizenship for foreigners who are considered to be of particular benefit to Bosnia and Herzegovina. The relief consists in the fact that such natural persons do not have to have a permanent residence in the territory of BiH for several years or that they must always renounce their native citizenship.
- WHO IS CONSIDERED AS NATURAL PERSON OF SPECIAL BENEFIT
A special Rulebook stipulates that natural persons who work and contribute in the field of culture, science, education, politics, sports and economy are considered to be of particular benefit to Bosnia and Herzegovina. Also, these are people who have already proven themselves internationally in these areas.
In the field of economy, that can be related with natural persons who are owners or managers in companies investing significant funds in Bosnia and Herzegovina or contribute by employing a significant number of workers. After consulted opinion of its kind of importance, one can go for apply for citizenship of Bosnia and Herzegovina.
- WHO HAS THE FINAL WORD?
An application for the acquisition of citizenship of Bosnia and Herzegovina on the basis of "special benefits for Bosnia and Herzegovina" is submitted to the Ministry of Civil Affairs, which, after determining that all documentation has been submitted, will forward the application to the Council of Ministers for decision. Therefore, the Council of Ministers, as the top governmental body that has the function of the Government of Bosnia and Herzegovina, decides whether a natural person is of particular benefit to Bosnia and Herzegovina and whether citizenship application can be accepted.
It is important to emphasize that every person willingness to undertake citizenship application procedure in this way, must have a recommendation from one of the prescribed institutions, such as the Government of the Federation of BiH, the FBiH Chamber of Commerce or the Olympic Federation.
Maybe you think of how to become citizen of Bosnia and Herzegovina by some other "normal" occasions and possibilities, such as by descent and naturalization - then easier start of path is our article here.
- LOOKING INTO THE FUTURE
The public still does not mention the possibility of a more liberal approach in the field of acquiring citizenship for foreigners who have an interest in economic investment in Bosnia and Herzegovina. Many countries in Europe (even in the European Union) have recognized this as a significant segment of improving the economic situation. It remains to see whether Bosnia and Herzegovina will "copy" this recipe in the coming period.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
