Branches for 29 economic entities from Republika Srpska

In the Republic of Srpska, 29 economic entities will receive branches for work in Germany for the year 2023/2024.

Pero Ćorić, the President of the Chamber of Commerce of Srpska, stated that out of the 29 companies, nine of them applied for branches for the first time. He also reminded that Srpska has 666 branches out of a total of 2,000 in all of Bosnia and Herzegovina.

According to his words, economic entities that operated on the basis of branches in Germany last year achieved a turnover of 28.5 million euros, while in Srpska, they had revenues of approximately 195 million KM.

“These companies employ 1,788 workers who work in Germany and have families in Srpska,” said Ćorić.

Ćorić added that these workers are very important for the development of Srpska’s economy and its budget.

He explained that a branch represents an agreement between Bosnia and Herzegovina and Germany, thanks to which companies, or rather, workers, can work in Germany on more favorable terms.

“The advantage is that workers can work for nine months in Germany and three in the Republic of Srpska,” Ćorić emphasized.

Nenad Stanišljević from the construction company “Vranica” in Banja Luka said that the company will send between 30 and 40 workers to work in Germany this year.

He explained that based on the branch agreement, domestic workers’ pension and social security contributions are paid in the Republic of Srpska, while in Germany, taxes are paid and wages are disbursed according to their laws.

“This means that we are in a more favorable situation in the German market because we do not pay contributions according to their laws. Therefore, it is easier for us to find work compared to German companies,” Stanišljević said.

Stanišljević said that the Chamber of Commerce provides an opportunity for anyone who wants to use branches, even though there may be certain challenges in a foreign country.

He pointed out that this year, business operations have been made more difficult due to the rising inflation and interest rates in Germany, as well as the overall situation in the global market.