Croatia is a small and young but promising country. It’s full of potential, especially in the field of tourism, history, and economics. Not a lot of investors recognize its potential because it currently is not a very well-known country. However, if you can be one of the first investors to penetrate the country, you’re putting yourself ahead of others who may, later on, discover its potential, too.
Here are some of the top reasons why investing in Croatia is a smart business move:
1. The world is aware of Croatia's value.
Croatia is one of the top tourist destinations in the world. Every year, tourists flock to Croatia for its beautiful views, sunsets, and historical value. Because of the tourists that visit the country, this country already has a global value. This is a good indicator for investors like you as it would mean that you already have a steady influx of possible target market yearly – and one that is global. If you need more information and help about tourism investments, it’s always wise to consult a professional financial advisory firm like Capstone.
2. The people of Croatia are creative, innovative, and talented.
Croatians are innovative and quite intelligent. Thus, you can be sure that they can contribute much to your business. Not only will they work for you, but they can also give in insights that can lead to your business' success. Do remember that it is in Croatia where some things were invented, such as:
● Double-entry bookkeeping
● The MP3 player
● The ballpoint pen
3. Croatia is a member of the European Union.
Croatia is one of the newest members of the European Union. When you establish your business in Croatia, you have access to trade relations with the other countries within the European Union. You can import and export goods to other countries within the union freely. This is a significant advantage, as trade relations to countries within the EU are usually strict if you are not a member.
4. Croatia's workforce is cheap but hardworking and multilingual.
Croatia's geographical location puts it close to other nearby European countries. Therefore, you shouldn't be surprised that, apart from their local language, many can speak foreign languages such as French, Italian, and Greek. Because Croatia is met with a large volume of tourists annually, its people can speak English. Therefore, you will not have a hard time communicating with and training your employees.
Further, labor in Croatia is quite cheap, compared with that in other European countries. Because the standard of living is quite low, there is no need to pay hefty wages to its workers. Plus, Croatians are known to be quite smart and hardworking.
5. Croatia has an excellent geographical location.
Croatia boasts harbors and airports that serve as a gateway to the rest of Europe. Currently, the ports of Croatia are open to international trade. Cargo from all over the world comes in and comes out of various ports such as in Dubrovnik and Split. As with airports, there are a lot of regional European airlines that take you from Croatia to the rest of Europe, and these flights operate multiple times daily. Because of its excellent geographical location, you can reach the rest of Europe in less than three hours.
6. Croatia's legal system is stable.
Before you decide to invest in a foreign country, you should always check if the laws of the states are in place, particularly laws concerning trade, business and commerce, and taxation. When you know that the laws of a country are intact, you are at least aware that there is a ceiling that operates to watch over how businesses interact with each other. The Companies Act of Croatia is the governing law in Croatia concerning businesses.
The legal business systems of Croatia include:
● General commercial partnerships
● Limited partnership
● Joint stock company
● Limited liability company
● Economic interest grouping
7. Expat families can also enjoy the various government benefits that locals enjoy.
One of the most significant concerns that you may have in mind when looking to invest in Croatia is that you may have to travel to the country regularly or you may have to live there for certain periods of time. When you choose Croatia as your next country to invest in, you will not have to worry about leaving your family behind; you can actually take them with you. Your children can even enjoy free government education, and your family can benefit from the subsidized healthcare as well.
These are only a few of the reasons why you should invest in Croatia. The advantages are numerous, especially with its relatively cheap workforce and strategic geographical location. The best part is that if you position your business in Croatia, you get to enjoy traveling regularly to a beautiful country while working!