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Sarajevo

Bosnia and Herzegovina

Our clients in Bosnia and Herzegovina include multinational concerns as well as medium-sized companies from all business sectors who, like us, have recognised the potential of this fast-growing market. We have been assisting our clients with market entry into Bosnia and Herzegovina since 2007, and every year we have successfully completed many projects together - mainly in the fields of renewable energies, construction and infrastructure, but also for banks, health care institutions and life sciences companies.

Do you already have a presence in Bosnia and Herzegovina, or are you planning to launch your business here in the near future? A seasoned CMS legal team of 10 with national and international experience and an excellent local network are here to expertly guide you through the complexities of the local legal system.

While the legal system of Bosnia and Herzegovina is stable and functioning, the political reality of a country divided into two jurisdictions, each with its own constitution and a decentralised state power structure, lends an element of complexity to the overall situation. The reality is that there are few national government control mechanisms and therefore no unified legislation. This means, for example, that even in important areas such as company law, each of the two entities has its own unique system. Our legal team fully understand how to use this statutory framework to your commercial advantage.

Since Bosnia and Herzegovina is in need of foreign investment, the barriers to investment are steadily being taken down and efforts to align national laws with EU law are moving ahead. While these developments undoubtedly increase the country's ability to attract investment, unresolved issues regarding trade and company law remain.

If you too are looking to leverage your opportunities in Bosnia and Herzegovina and are in search of legal advice and support from an experienced law firm with an international perspective, kindly contact us any time online, by email or by telephone.

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Location

CMS Reich-Rohrwig Hainz d.o.o.
Ul. Fra Anđela Zvizdovića 1
71000 Sarajevo
Bosnia and Herzegovina
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13 May 2021
CMS Ex­pert Guide to eco­m­merce in CEE
Since the be­gin­ning of the cen­tury, we have wit­nessed the dy­nam­ic­ally grow­ing role of the in­ter­net in the way mod­ern so­ci­et­ies are now defined. It has had a ma­jor im­pact not only on shap­ing the life­styles...
Comparable
10 May 2021
Vi­ol­a­tion of mer­ger con­trol pro­ced­ur­al rules: European Com­mis­sion fines...
On 3 May 2021, the European Com­mis­sion fined chem­ic­al maker Sigma-Ald­rich EUR 7.5 mil­lion for provid­ing mis­lead­ing in­form­a­tion dur­ing mer­ger con­trol pro­ceed­ings for Sigma-Ald­rich’s takeover by rival...
05 May 2021
EU Com­mis­sion pro­poses new in­vest­ig­at­ive re­view tools to tackle mar­ket...
On 5 May 2021, the European Com­mis­sion pro­posed the Reg­u­la­tion of the European Par­lia­ment and of the Coun­cil on for­eign sub­sidies dis­tort­ing the in­tern­al mar­ket (For­eign Sub­sidies Reg­u­la­tion or FSR) to...
05 May 2021
COV­ID-19: The Gen­er­al Court of the EU dis­misses Ry­anair's ap­peals against...
On 14 April 2021, the Gen­er­al Court of the EU, seized by sev­er­al an­nul­ment ac­tions brought by Ry­anair, con­sidered that the guar­an­tees giv­en by Fin­land to Fin­nair (Case T-388/20) and the guar­an­tees giv­en...
04 May 2021
With Il­lu­mina ac­tion, court to test EU Com­mis­sion's new mer­ger re­fer­ral...
On 29 April 2021, the US life sci­ences com­pany Il­lu­mina con­firmed that it filed an ac­tion be­fore the EU courts ask­ing for an an­nul­ment of the European Com­mis­sion’s de­cision of 19 April 2021 to ac­cept...
28 April 2021
Chal­len­ging bond calls on in­ter­na­tion­al pro­jects: Eng­lish courts vs Emer­gency...
A re­cent de­cision of the Eng­lish Com­mer­cial Court has re­fused an ap­plic­a­tion for an in­junc­tion re­quir­ing a be­ne­fi­ciary un­der an on-de­mand bond to with­draw its de­mand and re­frain from mak­ing fur­ther de­mands...
27 April 2021
European Com­mis­sion pub­lic con­sulta­tion on aid for re­search, de­vel­op­ment...
On 8 April 2021, the European Com­mis­sion has launched a pub­lic con­sulta­tion in­vit­ing in­ter­ested parties to sub­mit their com­ments on the pro­posed re­vi­sion of the State aid Frame­work for re­search, de­vel­op­ment...
27 April 2021
Join­der of third-parties to ar­bit­ra­tion pro­ceed­ings: High Court of Singa­pore...
In a re­cent de­cision, the High Court of Singa­pore has held that a third-party par­ent com­pany of one the parties to a Singa­pore-seated LCIA ar­bit­ra­tion had not con­sen­ted to be­ing joined to the ar­bit­ra­tion...
26 April 2021
CMS Ex­pert Guide to the im­pact of GDPR in non-EU coun­tries
The European Uni­on's Gen­er­al Data Pro­tec­tion Reg­u­la­tion (“GDPR“) is an in­ter­est­ing piece of le­gis­la­tion for sev­er­al reas­ons but es­pe­cially due to its ap­plic­a­tion to busi­nesses not con­nec­ted to the...
26/04/2021
CMS named CEE Law Firm of the Year at Cham­bers Europe Awards 2021
In­ter­na­tion­al law firm CMS has been named CEE Law Firm of the Year at the Cham­bers Europe Awards, where CMS has once again been re­cog­nised as the lead­ing law firm in Cent­ral and East­ern Europe. The Cham­bers...
23 April 2021
The Road to COP26: Our 101 on COP26
COP26 is sched­uled to take place from Monday 1st Novem­ber – Fri­day 12th Novem­ber 2021 in Glas­gow. It was ori­gin­ally in­ten­ded to take place last Novem­ber but was post­poned due to COV­ID-19.  It brings...
19 April 2021
CMS European Real Es­tate Deal Point Study 2021
The COV­ID-19 pan­dem­ic has left its mark on the European in­vest­ment mar­ket. In­vest­ment volumes were around 23% lower than in the pre­vi­ous year, 2019, with its re­cord per­form­ance. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those only min­im­ally af­fected by the pan­dem­ic. The num­ber of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions was at a re­cord high. The trend to­wards more buy­er-friendly ar­range­ments con­tin­ued. Those are the key find­ings of the CMS European Real Es­tate Deal Point Study 2021.For the latest edi­tion of this sur­vey of the European real es­tate trans­ac­tion mar­ket, in­ter­na­tion­al com­mer­cial law firm CMS sys­tem­at­ic­ally as­sessed and eval­u­ated more than 1,900 real es­tate agree­ments on which it ad­vised in coun­tries across Europe from the be­gin­ning of 2010 to the end of 2020.The key find­ings:In­vestors fo­cus on stable in­comeThe COV­ID-19 pan­dem­ic led to a change in in­vestor in­terest in the in­di­vidu­al as­set classes. Buy­ers fo­cused primar­ily on prop­er­ties with stable in­come and those that were only min­im­ally af­fected by the pan­dem­ic. Lo­gist­ics and res­id­en­tial prop­er­ties were es­pe­cially pop­u­lar.Of­fice real es­tate re­mained the strongest as­set class in Europe, but its share of the mar­ket fell to a re­cord low of 30%. De­mand for re­tail prop­er­ties re­mained at a con­sist­ently low level (15%). Lo­gist­ics real es­tate per­formed par­tic­u­larly well, post­ing a rise to 19% , a new re­cord. The pro­por­tion of in­vest­ment go­ing in­to spe­cial­ist prop­er­ties such as ho­tels fell sig­ni­fic­antly (14%). Res­id­en­tial real es­tate proved pop­u­lar with in­vestors, with its share rising to 22%.Sellers tak­ing steps to en­sure that buy­ers meet their fin­an­cial ob­lig­a­tionsDur­ing the pan­dem­ic, an in­creased need for se­cur­ity on the part of sellers was ap­par­ent. The pro­por­tion of trans­ac­tions in which steps were taken to en­sure the buy­er met its fin­an­cial ob­lig­a­tions rose to a re­cord high of 64%. In pre­vi­ous years, se­cur­ity was agreed in less than 50% of all trans­ac­tions.This high level is due to the in­creased de­sire for se­cur­ity on the part of sellers as a res­ult of the pan­dem­ic; they were of­ten un­cer­tain about the buy­er’s solvency go­ing for­ward. As a means of provid­ing se­cur­ity, both bank guar­an­tees (17%) and a not­ary’s es­crow ac­count (10%) be­came less pop­u­lar. In many cases, in con­trast, the buy­er made an ad­vance pay­ment (29%). In 9% of trans­ac­tions, use was made of sub­mis­sion to im­me­di­ate en­force­ment.Risk al­loc­a­tion in con­tracts: buy­ers catch­ing up in a seller-friendly mar­ket­Buy­ers were able to strengthen their po­s­i­tion fur­ther in 2020 with re­gard to risk al­loc­a­tion in con­tracts. In a mar­ket en­vir­on­ment that re­mained very seller-friendly, they suc­ceeded in ob­tain­ing fa­vour­able con­tract terms more of­ten than in pre­vi­ous years.As part of the war­ranty, guar­an­tees were again agreed more of­ten in fa­vour of buy­ers. The per­cent­age of agree­ments with in­di­vidu­al li­ab­il­ity pro­vi­sions in­creased to 75%. It was com­mon prac­tice to provide for both sub­ject­ive and ob­ject­ive guar­an­tees.The pro­por­tion of deals with seller-friendly lim­its on li­ab­il­ity, such as de min­imis and bas­ket clauses and caps, dropped slightly be­low the pri­or-year level in 2020. The up­ward trend seen over many years in agree­ments aimed at lim­it­ing li­ab­il­ity has thus been curbed some­what, while buy­ers were able to ne­go­ti­ate more fa­vour­able con­tract terms more of­ten than be­fore.Buy­ers also pre­pared ground with re­gard to the con­trac­tu­al pro­vi­sions on lim­it­a­tion peri­ods. An in­creas­ing num­ber of lim­it­a­tion peri­ods from 18 to 24 months were agreed in 2020, while there was a slight fall in the pro­por­tion of short lim­it­a­tion peri­ods of up to 18 months.Na­tion­al in­vestors more prom­in­entIn­t­er­na­tion­al in­vestors had a tough time in 2020. While in­ter­na­tion­al sellers have been re­spons­ible for the ma­jor­ity of deals since 2017, their per­cent­age dropped back down to 43% in 2020, with na­tion­al in­vestors be­com­ing more act­ive. Na­tion­al in­vestors ac­coun­ted for 48% of deals in 2018, while in 2020, 57% of real es­tate in­vest­ments were made by na­tion­al in­vestors.