Serbia is increasingly becoming an attractive destination for entrepreneurs and businesses looking to expand their operations in Europe. With its strategic location, favorable tax policies, and a growing economy, Serbia offers numerous benefits to investors.
The steps that must be taken in order to establish a company are:
Company Registration
Company registration is the first step in establishing a business in Serbia. This process involves several key steps and legal requirements that need to be fulfilled. Here’s an outline of what’s involved:
Providing electronic Signature
In the digital age, an electronic signature is a crucial tool for conducting business efficiently. In Serbia, electronic signatures are legally recognized and are recommended to be used for a company establishment and submission of financial statements.
Choosing the Right Business Structure:
The most common types of business entities in Serbia include limited liability companies (LLC), joint-stock companies (JSC), partnerships, and sole proprietorships. LLCs are particularly popular among foreign investors due to their flexibility and limited liability protection. The minimum capital requirement for an LLC in Serbia is EUR 1.
Name Registration:
The company name must be unique and comply with Serbian naming regulations. It is advisable to conduct a preliminary check with the Serbian Business Registers Agency (SBRA) to ensure the chosen name is available.
Drafting the Articles of Association:
The Articles of Association outline the company’s structure, management, and operational procedures.
Obtaining the Founding Decision:
The founding decision or agreement must be drafted and signed by the company’s founders. This document specifies the company’s initial capital, shares, and other essential details.
Registration with SBRA:
All the necessary documents, including the Articles of Association and founding decision, must be submitted to the SBRA for registration. Once approved, the company is officially registered and receives a registration number.
After the company is established, the following steps must be taken in a relatively short period of time:
Fillig tax retur
After company establishment, it is necessary to submit prescribed tax returns within a short period of time.
Registration of beneficial owner
Within the prescribed period of 15 days from the date of company registration there is obligation to register the beneficial owner of the company.
Submission of prescribed documentation to the archive
After company establishment, it is necessary to prepare the basic company documentation and inform and provide the competent archive with it.
Bank account opening
A corporate bank account is essential for managing the financial transactions. The process for opening a bank account in Serbia is straightforward but requires certain documentation. The account can be opened personally or through an attorney.
Choosing a Bank:
Several international and local banks operate in Serbia. It is important to choose a bank that offers services tailored to the needs of your business.
Required Documentation:
To open a bank account, the company must provide its registration certificate and identification documents of the company representatives.
Banking Services:
Consider the range of services offered by the bank, such as online banking, international transaction capabilities (e.g. for the purposes of transactions to Russia), and corporate credit facilities.
Virtual office
A virtual office provides businesses with a physical address and office-related services without the need for a dedicated physical office space. This is particularly beneficial for startups and foreign companies.
Advantages of a Virtual Office:
Cost-Effective: Reduces overhead costs associated with maintaining a physical office.
Flexibility: Allows businesses to operate from anywhere while maintaining a local presence.
Virtual Office service includes:
Our Virtual office services is included in bookkeeping service and includes mail handling (scanning and forwarding), call answering and communication with state and local authority.
We provide a high degree of confidentiality as we store data on our primary and backup server.