Steps for Company registration in Serbia
Company registration in Serbia is the procedure of drawing up the founding act of a business company in Serbia, registering the company in the Serbian Business registers agency. Steps to start a business in Serbia represent the activities undertaken in a logical order with the aim of starting business activities in Serbia. The most important steps of company registration in Serbia are:
- choosing business address;
- Company registration in Serbia at Serbian Business register agency;
- opening a Serbian bank account;
- filing the tax return;
- creation of an electronic certificate – signature;
- seal;
- preparation of the necessary business documents.
Choosing business address
Before official Company registration in Serbia, first it is necessary to determine the address where the business will be registered. The address can be the address where the activity is physically carried out or the address of the accounting department if the work is carried out from home or remotely (virtual address). Most often in practice, the address of the company is first registered with the accountant, and then, after finding a suitable space, the new address of the company is registered.
Virtual address is a modern and efficient business concept, which is very favorable model for smaller and newly established companies. Virtual addresses are rented not only for seat registration, but also for receiving mail, providing administrative support to companies and the like.
official Company registration in Serbia
Company registration in Serbia means registering the company at the Commercial Register of Serbia. Company registration in Serbia can be done in person or through an authorized representative. When registering by personal presence, the founder makes an electronic signature at one of the certification bodies in Serbia and registers the company online with an electronic signature card. Registration by proxy requires that the founder of the company in Serbia gives a power of attorney to establish the company. If required, an apostille must be applied, the power of attorney translated and sent to the authorized representative in Serbia.
Opening a Serbian bank account in Serbia
Before opening a bank account, it is important to find out about bank fees for payment services and fees for monthly account maintenance. It is important to be aware of all the services that banks offer to their customers. In order to open a business account, the necessary documents must be prepared (OP, KDP, contract, etc.). Banks insist that the account must be opened personally by the legal representative of the company (managing director). At the request of the managing director (director), a business account can be opened through a power of attorney.
More information on this topic can be found in our article on opening a bank account in Serbia.
Filing the tax return
After the official company registration in Serbia, the next step is filling the tax return for estimated corporate income tax. The tax return is completed and filed by an authorized accountant. The legal deadline for filing first tax return is 15 days from the date of establishment of the company, i.e. from the date of registration with the Serbian Business Register.
Creation of electronic certificate – signature
Electronic signature is an electronic card used for online services. With this card it is possible to establish a company, as well as to sign all other online requests or services of the director (e-invoices, request for work permit, filing tax returns, registration of the owner, signing the financial statements, etc.).
In order to obtain a digital signature, an application for issuance is submitted to the Chamber of Commerce of Serbia through the Accounting Department. It is very important to know that the electronic signature card can be taken only by the person to whom the card refers (managing director for whom the card was created).
Seal
A company is not obliged to have a seal. In order to create credibility of internal documentation, company management may decide to create a seal, also after company registration in Serbia.
Preparation of the necessary business documents
Even if it is on the last place on the priority list, preparation of business documentation is necessary before starting the activity. The internal business documents depend in the business activity of the registered company. The mail documentation that need to be prepared is:
- employment contracts;
- rulebook on work, rulebook on accounting
- personal data protection (GDPR, DSGVO, DSG, etc.);
- non-disclosure agreements (NDA)
- documentation for the prevention of money laundering;
- documentation regarding safety and health at work;
- documentation on protection from mobing.