CROATIA
CROATIA
COUNTRY ECONOMY
The Republic of Croatia is situated in the south-eastern part of Europe. It's land area is 56 594 km2 and according to the 2017 mid-year population estimate it currently has 4.1 million inhabitants.
Croatia has excellent roads, sound ICT infrastructure, and a competitive workforce. Likewise, the quality of life in Croatia is very high: it is a safe country, with tasty food, well-preserved nature, a mild climate, and abundant historical and tourist attractions. It ranks 22nd on the Finance Magazine’s list of safest countries in the world.
Moreover, upon joining the EU in mid-2013, Croatia gained access to the EU internal market and the global value chains.
Croatia offers numerous benefits and opportunities to investors, namely:
1. Convenient location - at the heart of the EU
Croatia is in an excellent geographic position to serve as a regional hub for companies. Zagreb, it's capital, is only about a four-hour drive away to Vienna, Venice, Budapest, or Belgrade, and only a two-hour drive from the beautiful Adriatic coast. It also offers the shortest transit time from the Far East through its quality seaports.
2. Competitive investment costs
According to the price surveys carried out in 2017 within the Eurostat-OECD Purchasing Power Parities (PPP) Programme, price levels for investment in Croatia are 32% below the EU average.
Likewise, with the estimated hourly labour costs of € 10.64 per hour, it is well below the EU average of € 26.76.
Finally, Croatia offers around 100 million square meters of infrastructurally-equipped industrial land in its business zones with the price starting from 1€/m2.
3. Highly skilled and multilingual workforce
Croatia has an educated, highly skilled and motivated labour force. More than 90% of people of age 15-34 speak at least 1 foreign language, with English being prevalent, followed by German and Italian.
4. Generous investment incentives
Croatian Government offers a return of 25%-45% of eligible investment costs through various investments incentives comprising of profit tax deduction/reduction for up to 10 years and direct grants for every new employee (up to € 18,000), capital costs of investment (up to € 1 million) and R&D (up to € 0.5 million).
5. Institutional support
Every investor can count on institutional support provided by the special unit within the Ministry of Economy, Entrepreneurship and Crafts prior, during and after the investment. (investcroatia.gov.hr/en)
CROATIA – INVESTORS' SUPPORT
The Ministry of Economy, Entrepreneurship and Crafts represents a focal point for investors in the Republic of Croatia. It provides support during the implementation of the investment projects by:
• Offering all the necessary information relevant to investments in Croatia, such as analyses of the business climate and investment framework, investment opportunities (projects, business zones, etc.), investments incentives, etc.
• Professional and tailor-made assistance throughout all stages of the investment process,
• Organising visits to investments sites and arranging meetings with public and private bodies,
• Promoting Croatia as a business and investment destination through specific seminars and conferences on investment opportunities in Croatia, promotional materials and cooperation with partner institutions on the domestic and international market.
Ministry of Economy, Entrepreneurship and Crafts of the Republic of Croatia
T: +385 1 6286 800
Embassy of the Republic of Croatia in the United Kingdom of Great Britain and Northern Ireland
T: +44 207 3872022
uk.mvep.hr/en