The Internet and information communication technologies (ICT) became the most important components in everyday life, given the fact that they have altered the behaviour patterns and in many aspects made our lives simpler. Upcoming Internet of Things (IoT) will additionally have a positive influence on our Quality of Life (QoL). However, even now, the society is extremely vulnerable to disturbances that may affect the functioning of the Internet and ICT systems, and thereby jeopardize the reliability and security of the information they contain. The situation tends to become even more complicated when IoT takes effect and cyber threats exceed the perimeter of information security and include physical security, existence and health. The world has shyly started to raise questions and perceive problems regarding the IoT, QoL and security issues that it will bring to the cyber space in order to find the appropriate solutions in time. Bosnia and Herzegovina, as well as any other modern country, needs to take place in these processes and newly opened research fields. Therefore, this paper gives an overview of Bosnia and Herzegovina’s existing cyber security infrastructure and capacities in terms of legislation, security management structure, corresponding cyber security units, as well as their cooperation and qualification level. Based on the elaborated, the cyber security is not among the priorities in Bosnia and Herzegovina. Also, the country “offers” problems for adequate and generally accepted solutions in the cyber security domain and needs to work on its readiness to contribute to the safety of IoT and cyber space, and consequently improving citizens’ QoL.