Croatia advances legislative reforms for crafts and capital markets

The Croatian government and Parliament are advancing legislative changes aimed at reducing administrative and financial burdens for various economic sectors.

An amended Crafts Act, set to take effect on January 1, 2027, introduces the legal status of the 'family craft' and reduces the chamber contribution from 2% to 1.5% of the basic personal deduction. The law also addresses the continuity of business operations following the death of a craftsman or after a craftsman reaches retirement age. The Croatian Chamber of Crafts has expressed a desire for further improvements, specifically regarding full pension rights for those continuing to work.

Additionally, the government has sent proposed amendments to the Capital Market Act to Parliament. These changes aim to simplify public offerings and listings, particularly for small and medium-sized enterprises. Key proposals include increasing the threshold for prospectus exemptions from 8 million to 12 million euros and aligning national legislation with European Union standards regarding the credit supervision of investment firms.