Starting a business in Serbia involves several steps, just some of them are registering a company, getting necessary permits and licenses, funding and hiring staff.
Process of starting business in Serbia includes next steps:
Choosing a legal form
Choosing the right legal form for your business in Serbia is really important decision and it will impact various aspects of your operations, such as liability, taxation, and management structure. Serbia offers several types of legal entities. Following are four main types of legal forms: A partnership, where individuals share the profits, responsibility, debts and (personal) liability of the partnership as partners, limited liability company (“LLC”) which is most common formed as a private company limited by shares, a joint-stock company is not that common and also has more stringent requirements but through them the company can offer its shares to the public and finally, an entrepreneurship as a form in which a natural person registers to conduct business activity.
Next step will be to register the company
Registration involves submitting an application to the Serbian Business Registers Agency, and with
application, required documents such as articles of association and proof of registered address.
Collecting necessary permits and licenses
Depending on the type of business, permits and licenses may be required from relevant authorities. They
can include construction permits, environmental permits, but also health and safety permits. Again,
depending on the type of your business.
This can be done through a variety of sources. Sources include bank loans, venture capital, or personal
investment. Having a solid business plan and financial projections is essential for any new business to
have a solid business plan and financial projections to present to potential investors or lenders.
It’s best to consult with a local HR or legal advisor for guidance on hiring staff in Serbia. There are many
legal requirements and obligations that one need to ensure compliance with labor laws.
Satisfying tax obligations
All businesses in Serbia are subject to some taxes depending on the nature of the business. It’s important
to understand all obligations and file taxes regularly to be shore to avoid penalties.
What are the benefits of doing business in Serbia?
There are many benefits of doing business in Serbia including:
Serbia connects East and West Europe, South and North Europe, and has a border with EU. This all is making it an ideal gateway to the EU market.
Fast company registration
Registering a business in Serbia is not a long or expensive process. It takes usually one day for documents preparation, depositing a minimum capital which is less than 1 euro and another day for their validation and delivering documents to the business registry.
Low operating costs
If you are comparing Serbia with other EU countries, operating costs in Serbia are relatively low, making it an attractive destination for cost-conscious investors. This includes lower labor costs, lower real estate prices, and lower taxes.
Serbia has a highly educated and skilled workforce, specialy IT professionals and engineers.
There are various subventions for investment projects.
Import and export from 14 zones free of VAT, customs and clearance.
Serbia offers several advantages for businesses. These are strategic location in southeastern Europe, a skilled workforce, favorable investment policies, and a developing economy that have strong growth potential. Strongest industries in Serbia include automotive manufacturing, IT and software development, pharmaceuticals, and agriculture. Serbia has also made significant progress in improving its business environment and reducing bureaucratic barriers to doing business. But, as with any new market, it’s useful to carefully research and understand the local business culture and legal requirements to ensure success.
With the right approach and resources, it’s possible to make a successful business in Serbia. The factors as having a clear business plan, building strong relationships with local partners and stakeholders, and staying up-to-date with the latest legal and regulatory developments, are the key for making your business the best as it can be.
Tax International provides help with statring business in Serbia.
Tax International provides registration services and assists in setting up a bank account.
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