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Tax advice
Bookkeeping - Accounting agency
Estabilishing companies

Business entity establishing
and registration including consultations

Osnivanje preduzeća i radnjiCompany registration ............  150 EUR
Entrepreneur - sole proprietor ................   60 EUR


Related text:
Entrepreneur vs LLC


The service of establishment and registration of a store, establishment of a company
involves the following activities:

  1. Comprehensive counseling during the whole process   Read more

    • Choosing legal form by giving an answer to the question whether it’s more favorable to establish a store or a company,
    • Defining prevailing activity,
    • Choosing name and checking if there is a different business entity registered under that name
    • Information about fixed costs: income or profit taxes, compulsory social contributions of a founder and manager, taxes and social contributions for employees, taxes for highlighting a company and similar,
    • Explaining VAT: what is voluntary and what is compulsory, to whom and why it’s more favorable to enter the VAT system voluntarily,
    • About cash registers: who must have a cash register and who doesn’t,
    • About employing: types of employment by work contract and other contracts, employer liabilities,
    • Managing cash: under which bases is possible to withdraw money from current account,
    • Answering other questions: connected to future business.
  2. Preparing decision/establishment contract and validation in court,
  3. Obtaining decision from the Serbian Business Registers Agency (SBRA) with specified company’s Taxpayer Identification Number (TIN),
  4. Activities after obtaining the SBRA decision.   Read more

    After obtaining the Serbian Business Registers Agency’s decision about the establishment of business entity or the entrepreneur and tax identification number (TIN) the following activities occur:

    1) Activities of AKTIVA sistem:

    - Controlling the accuracy of entered data and if an error is found it files a request for correcting the technical error;
    - Making a stamp, one is obligatory while making multiple stamps is possible by an agreement with the client;
    - Opening or helping during opening a bank account, depends on the fact whether a bank requires the presence of a client or not;
    - Delivering notification about the beginning of operation to the government work inspection;
    - Delivering stamp to the client and the original documentation made during the establishment process. Before delivering the original documentation, AKTIVA sistem offers client, free of charge, to write in current accounts at Business Registers Agency, if he wants. (By the law, he is compulsory but, according to information that we have, no one has been punished if this wasn’t done, yet. However, in business terms it’s a bit frivolous to not have the current account wrote in. Because, if your potential clients don’t see it on the SBRA’s website it can motivate them to avoid business cooperation with you.) If a client has multiple accounts, all of the dinar and foreign currency accounts are wrote in and the fee doesn’t increase.
    - Writing in the current account at SBRA, after the fee is paid, AKTIVA sistem submits the registration for write in, gets the decision and delivers it to the client.


    2) Client’s activities

    - Choosing bookkeeping – accounting firm – if the potential client won’t have an employed bookkeeper there should be a contract made about keeping business books with an accounting firm registered for that activity;
    - Transferring basic equity – going to the bank in which the owner’s capital is deposited and giving an order to do the deposit transfer from a temporary account to newly opened client’s account; the founder goes to the bank personally; this activity don’t have entrepreneurs;
    - Delivering PDP form (companies) / PPDG-1R form (entrepreneurs) – tax application form for determining profit tax of the company / tax application form for determining personal income tax; the deadline is 15 days to deliver the PDP/PPDG-1R form to Tax Administration for current year; this activity usually does a bookkeeper;
    - Submitting a request for flat rate taxation; during the 15 days after establishing a company, you may submit a demand for flat rate taxation to the Tax Administration, unless you are doing activities such as commerce, catering, real estate or exchange office because in that case you don’t have a right for flat rate taxation; also, if you have applied for a VAT system, you don’t have this right either; this activity usually does a bookkeeper; this activity don’t have business entities (companies);
    - Applying for VAT system – if you decide to apply for VAT system, you are required to submit an application, EPPDV form; this usually does a bookkeeper;
    - Application of founders which have functions in society (manager) for pension and health contribution – in Pension and Disability Insurance Fund or National Health Insurance Fund do the application of founder if he/she is a director at the same time, and other founders that have a function in the society or are employed in it; for entrepreneurs only the checking of application is done; this usually does a bookkeeper;
    - Application of employees for Pension and Disability and Health Insurance – in Pension and Disability Insurance Fund and National Health Insurance Fund register employees which will work in the company; this usually does a bookkeeper;
    - Receiving letter from Tax Administration in which you are called to deliver documents for forming a taxpayer record; our advice is to show the name of the company on mailbox, door or similar, so the mailman is able to find you easily, otherwise the letter is returned to Tax Administration, which sends it again and if you don’t take it again, Tax Administration can take away your Tax Identification Number and block the company’s operation; the letter takes the manager of the business entity and validates it with stamp; this activity don’t have entrepreneurs;
    - Delivering documentation for taxpayer record after Tax Administration report – if you have received the report, deadline for delivering documentation is 15 days from the day of reception. If you don’t follow the deadline, sanction can be taking away your Tax Identification Number; this usually does a bookkeeper, if the bookkeeper doesn’t have valid power of attorney, the documentation must be delivered by authorized person of the business entity; for completing the documentation after the report, it’s very important to have a rental agreement and evidence of ownership of business space; this activity don’t have entrepreneurs;
    - Applying for GPU – application for determining fee for improving and protection of environment; this usually does a bookkeeper


In terms of documentation, in most cases, during the establishment process, only the founder’s identity card is needed.

Minimal founder’s deposit four establishing a company is the symbolic 100 dinars, we propose paying at least 10,000 dinars because that money remains to the company, but that’s not obligatory. Entrepreneurs (stores) don’t have founder’s deposit.

The decision from Serbian Business Registers Agency and making a stamp can be expected in five days. In decision you have a written Taxpayer Identification Number, and together with Serbian Business Registers Agency’s decision you will receive a Taxpayer Identification Number confirmation.

After completing the registration, you will buy a cash register if you must, and we offer you accounting services – keeping business books, this process starts by submitting a tax application for profit tax (companies), income tax (entrepreneurs), VAT recording, registering employees…

We have experience with “registering from distance”, i.e. offering registration services, changing data and changing legal forms for subjects that are distant from Novi Sad (we finish everything by using e-mails).



 

Company seat service 30 - 50 EUR/month

The rental services of the company’s seat involves concluding a contract about renting office space in Novi Sad, Papa Pavla street number 14, at this address will be registered business entity’s or entrepreneurs headquarters. This service can be related to mail receiving service and/or managing director authority service, but it doesn’t have to be related. It is possible to arrange the seat renting and organize a mail receiving service, and write it at a different place at Serbian Business Registers Agency.



 

Paper mail address service 20 - 50 EUR/month

The mail receiving service involves concluding a contract under which we take over an obligation to receive client’s mail. The service involves forwarding the received mail to the desired address and/or its scanning and forwarding by e-mail to the provided e-mail address.
This service can be related to seat renting service, but it doesn’t have to be. It is possible to arrange this service, and write this address (at SBRA) as mail receiving address, and keep the seat at different place.



 

Managing director authority service 50 - 100 EUR/month

This service involves concluding a contract by which take over all or just some duties and authorities of manager to limited or unlimited time period, with greater or smaller limitations. It is understood that the company has a manager who represents it without limitations, while we represent it with limitations, determined in the contract. The service is suitable for clients which have managerial structure and need to be only occasionally represented in Serbia, so that they can overcome geographical barriers, especially when starting a business in Serbia.
This service can be related to seat renting service and mail receiving service, but it doesn’t have to be. It is possible to arrange this service and at SBRA write us as the manager, while mail receiving address and seat keep at a different place. About concretization of this service, or set of services, we discuss with client individually.



 

Change of Registration 50 EUR first + 10 EUR
with BRA for companies 50 first + 10 EUR

At existing business entities (companies) we make documents (decisions, contracts and similar) and write them in the SBRA register:  
     - Change of company’s name, seat, legal form, main activity, duration,
       capital (increase, decrease, payment, input, transfer or sales) and members;
     - Change of data about persons who have obligations to company:
       manager, board chairman, representative;
     - Change of data of the company’s branch:
       registering and erasing branch and branch data;
     - Change of contacts: telephone, fax, e-mail, web address.



 

Change of Registration 40 EUR for the first one + 5 EUR
with BRA for sole proprietors for any new change

At existing entrepreneurs, we write in SBRA register the following:
     - Registering the beginning of business activity;
     - Change of personal data of entrepreneur or manager;
     - Taking over of the store from members
       of the household in case of death of entrepreneur;
     - Change of name, business activity, business seat, prevailing activity, business name
       abbreviation, registration number of the vehicle for entrepreneur does taxi transport;
     - Write in or change of manager authorized for representation;
     - Write in or change of space beyond business seat
       (separated premises, business unit);
     - Write in of beginning or finishing of temporary discontinuation of activity;
     - Change of registration period for the entrepreneur;
     - Write in or change of Tax Identification Number, bank account, contacts;
     - Write in or erasing meaningful data for legal traffic.



 

Transfer of shares, sales of company (Ltd)100 EUR

Transfer of shares, changing owner, changing founder, sales of company, sales of Ltd, sales of enterprise, are synonyms that mean changing ownership of the capital of the business entity, i.e. ownership of the business entity. This activity is done by concluding a contract about shares transfer. Legal consequences for third party occur when the change is registered at the SBRA. The contents of our service include exactly that: making a contract about shares transfer and registering change at SBRA.



 

Change of legal form -
Entrepreneur - sole proprietors to company
200 EUR

When changing legal form of the entrepreneur to company (Ltd mostly), a new legal entity is made (Ltd, company) whereas an entrepreneur is erased (shut down). Our service involves making complete documentation for both sides of this job: founder’s contract and everything else for company’s (Ltd) establishment and erasing entrepreneur.



 

Liquidation - starting the process of 100 EUR
Liquidation - finalizing the process 100 EUR

The company’s liquidation service involves the following:

Likvidacija preduzeća
  1. Considering existence of prerequisites for beginning the liquidation process;
  2. Making corresponding acts about beginning of liquidation process;
  3. Registering the beginning of liquidation at SBRA;
  4. Following the liquidation process;
  5. Making corresponding acts for terminating the liquidation process, including the liquidation manager’s report about conducted process;
  6. Registering the company’s deletion at SBRA.

As a special service, it’s possible to arrange:

  1. Making of starting liquidation statement, keeping business books during liquidation and making concluding liquidation statement;
  2. Making tax applications at the beginning, during and in the end of the liquidation process.

 

Regarding the documentation, for beginning of the liquidation process, an ID card and a founder’s signature is enough.



 

Closing the sole proprietor's business 50 EUR

We begin and carry out the process of registering deletion (closure) of sole proprietor’s business at SBRA and Tax Administration, as well as other related activities, ending with writing insured period of the entrepreneur to his work book at the Pension and Disability Insurance Fund.



 

Excerpts from BRA 10 EUR

We obtain excerpts from the SBRA register for companies and entrepreneurs with promptness.

 







Novac Taxes are not voluntary category,
so you have to pay them.
We will find the right way to pay less
respecting all regulations.

We will either find a way, or make one.     Hannibal