Company formation in Serbia

Company in Serbia for Foreigners

Wondering how to open a company in Serbia? Do you think that registering a Limited Liability Company (LLC), branch, subsidiary or entrepreneur in The Serbian Business Registers Agency (SBRA) is a complicated and expensive procedure?

In fact it isn’t, opening a company in Serbia is quite simple, fast, cheap and easy, both for domestic and foreign citizens.

We have more than 20 year of experience doing business with domestic and foreign clients.

By using our service, you will get all the relevant informations regarding the legal and tax aspect of the business in Serbia and other important informations for well organized and optimized company formation in Serbia.

Who can be the owner?

Foreign nationals can become founders and directors of legal entity in Serbia without any special preconditions, just using their valid passport.

If the founder of LLC is a legal entity, certified excerpt from the register of companies is required instead of a personal document, as well as copies of passports and personal informations of the *real owners.

*Real owners

For the very establishing of a company when the owner is a foreign legal entity, SBRA requires an excerpt from the registry just for that particular legal entity, but attention should be paid to the applicable Law on Prevention of Money Laundering and Terrorist Financing, which means that the bank, accountant and SBRA through the **Register or the Real Owners request information on beneficial owners (individuals).

Sometimes these informations requires obtaining excerpts of many companies in the ownership structure, as well as personal information about the real owners (individuals).

If beneficial owners are not presented, the actual performance of business activities in Serbia will be impossible since bank account won’t be opened.

**Since 2019 Serbian Business Register Agency made additional Register of the Real Owners where every Limited Liability Company need to enter personal details of the phisycal persons with more than 25% of shares. This can be done only by using electronic signature of the legal representative and it is precondition for opening company’s bank account.

Opening a Company Remotely

It is possible to register a legal entity and open a bank account remotely using adequate Power of Attorney given to a person who will physically perform the necessary actions in the Republic of Serbia.

Virtual office – headquarter in Serbia

At our place in Belgrade and Novi Sad you are able to get virtual office space in order to register headquarter and receive mail and packages which will be scanned and forwarded to you within 24 hours.

Company formation procedure

Procedure includes:

  1. comprehensive counseling during the entire procedure;
  2. choice of legal form;
  3. assistance in choosing the predominant business activity;
  4. assistance in choosing and reserving business name;
  5. assistance in the decision on entering the VAT system – VAT yes or no;
  6. information on future fiscal and parafiscal liabilities and analysis of possibilities for optimizing tax liabilities;
  7. information on employment, disposal of assets/cash of the company and other information related to future business activity;
  8. drafting a decision / agreement on establishment;
  9. assistance in making electronic siganture for legal representative;
  10. filling in and submitting the registration application;
  11. taking over the decision from SBRA.

Then, after registering of the company, there are following activities:

  1. control of accuracy of registered data;
  2. making a seal, except when the Client decides not to use the seal for which he has a legal possibility;
  3. registration of the Real Owners;
  4. notification to the labor inspection on the beginning of work, submitting first tax reports etc;
  5. preparation and verification of the signature card and preparation of documentation for opening a bank account.

State incentives in Serbia

You should be informed about potential incentives for opening the business in Serbia.

Taxation of LLC in Serbia – all relevant information you can see in this Article.

Verification and translation of foreign documents in Serbia

A foreign public document must contain the Apostille – if it is a country that is a signatory to the Hague Convention on the Abolition of the Need for Legalization of Foreign Public Documents, unless a bilateral agreement on mutual recognition of public documents without legalization has been concluded between a specific foreign country and the Republic of Serbia.

In case that a specific foreign country is not a signatory to the Hague Convention and has not concluded a bilateral agreement with the Republic of Serbia on mutual recognition of public documents without legalization, the so-called “Full” legalization.

All documents also, must be translated to Serbian by registered public translator, which is the process we can assist on.

Feel free to contact us for any additional informations.

Marko
Marko Šukara, CEO

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