Procedure for registering a company in Serbia

Individuals wishing to start an international business can open a company and register a corporate bank account in Serbia. If you have the desire and time, you can deal with legal and bureaucratic matters related to business registration on your own. But with expert support, the process of processing documents goes quickly, taking from 7 days, and is accompanied by fewer risks. The cost of turnkey services starts from 8.5 thousand EUR.

What kind of company can you open in Serbia?

Serbian legislation provides foreign citizens with the right to open companies of various formats. The most common solution is a limited liability company (LLC). Other options are also possible:

• registration of private entrepreneurship;

• opening a partnership company (partnership);

• registration of a joint stock company.

Each of the listed business formats in Serbia has its own advantages:

• LLC owners can recruit employees without any restrictions;

• the status of a private entrepreneur is registered according to a simplified procedure and also has fewer requirements in terms of accounting.

Preparation for company registration in Serbia

To open a company in Serbia, a foreigner must not only decide on the general fund, but also choose:

Company name

The name should reflect the essence and direction of the business. At the same time, comply with legal requirements, standards of decency and intellectual property. The use of the word “Serbia”, as well as the names of other territorial units, requires a special permit.

Activity code

When choosing an activity code for a company, you should focus on the direction that will bring the bulk of the profit. Additional codes may be provided subject to appropriate permissions and/or licenses.

Field of activity

After registering a company with the Business Registers Agency, the scope of activity indicated in the document is not subject to change. In some cases, adjustments are allowed, but only by decision of the board meeting and with the consent of the founders.

Company address

If there are budgetary difficulties, after registration the company may refuse to rent premises and limit itself to a virtual legal address. The online office provides the same opportunities as the physical one. But for the stable development of business in Serbia, an in-person presence turns out to be preferable.

Drawing up the memorandum of association

Registration of a company in the LLC format requires the preparation of a constituent agreement of the parties with mandatory notarization. The document includes:

• data of all participants;

• company name and address;

• activity code;

• the size of the authorized capital;

• shares of participants;

• director and his powers.

Collection of documents

Preparation of accompanying documentation requires an understanding of the nuances of Serbian legislation. Support from specialists greatly simplifies and speeds up the process. The minimum package of information required to register a company includes:

• an application filled out according to the established template;

• personal and corporate documents;

• founders' agreement;

• bank statement confirming the crediting of funds towards registration payment.

The procedure for opening a company in Serbia is carried out in person or remotely. The online process requires the presence of a trusted person in the country.

Opening a corporate account in a Serbian bank

The procedure for opening a bank account when registering a company requires a package of documents. The mandatory list includes:

• application in the prescribed form;

• registration extract from the register (copy with notarized confirmation);

• certificate of positive status of the company;

• certificate confirming the authority of the manager;

• power of attorney (with apostille);

• company charter (requires translation into Serbian and signature of a notary);

• personal documents of the founders.

The bank may additionally request statements, reports, certificates. When opening an account, the main applicant and founders must leave samples with signatures at the branch. To gain access to additional services, including online banking, you must complete separate applications.

Tax documents

15 days after registering a business, the applicant must register with the tax service and obtain a digital signature. An accountant (staff or guest) is responsible for filling out the declaration.

A digital signature is issued at the request of the recipient. It gives the right to work with documents in electronic format, and is also required when submitting fiscal reporting.

VAT registration is mandatory if the estimated annual profit exceeds 8 million Serbian dinars. In other cases, the procedure is voluntary.