Directors of a Croatian Company
Directors of a Croatian CompanyUpdated on Thursday 15th February 2018
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If you are a foreign investor who is interested in expanding the portfolio in the Croatian market, you must observe the requirements for opening a company, including the ones that refer to the attributes of the board of directors. Our lawyers in Croatia are at your disposal with legal advice regarding the registration of a company in Croatia and can offer information and details about the responsibilities of Croatian managers and the implications of properly conducting a business.
Types of directors of companies in Croatia
Foreign entrepreneurs can open limited liability companies, joint stock companies, partnerships or may act as sole proprietors in Croatia. Except for the sole traders who are entirely responsible for all their activities, the other business entities must be formed with at least one director. The managers can be individuals or companies in charge of the operations of the newly-incorporated business in Croatia, but with residency in this country as the main condition. At the time of appointing the directors, the owners will take the decision in this sense considering the qualifications, the diplomas and the experience in this domain. It is good to know that the directors of a Croatian company are the representatives of the business in any situations such as:
• dealing with providers;
• signing contracts;
• administrative board procedures.
Appointing the board of directors must respect the provisions of the Companies Law in Croatia, a matter in which our attorneys in Croatia will offer legal support and advice.
What are the responsibilities of Croatian Directors?
The managers appointed for a company in Croatia have several tasks and will act in the best interest of the firm and its activities. Among the responsibilities of Croatian managers please observe the following:
• considering and implementing the owners’ decisions;
• observing the employment matters in the company;
• taking decisions when negotiating and signing contracts;
• conducting the company in complete agreement with the shareholders;
• conforming with the legal obligations to preserve the accounts of the company;
• leading internal reviews at any time.
We also mention that a board of directors of a company in Croatia can close the activities or can be removed by the shareholders if they consider that the results and the activities do not fulfill their expectations in the company. In this sense, there is no need for any reasons to be given.
If you are interested in the legal aspects linked to the board of directors of a Croatian company, we kindly invite you to get in touch with our law firm in Croatia.