Serbia: Your Gateway to Thriving Business Opportunities and Growth

Serbia has been developing very quickly over the past decade. Its capital, Belgrade, is gradually becoming a multinational and versatile business hub, and the government takes a lot of effort to create pro-business laws and attract foreign investors. And they manage to do so as Serbia has become interesting for major European and Asian investors. You can still join the upward trend!

However, starting a business in this Eastern European country requires knowing some nuances, and we are happy to invite you to our portal devoted exclusively to Serbia. You will find a lot of information there on company registration in Serbia, opening accounts with Serbian banks, and the peculiarities of business in the country.

We also have highly-qualified specialists online and on-site in Serbia who will help you with any aspect of Serbian business. If you are not prepared to read a lot in search of intricacies (every country comes with tricks when we are talking about business or banking, and Serbia is no exception), you can just contact a specialist to ask any questions, get professional advice, or buy a turnkey package and open your Serbian company online in no time!

Starting a Company is Easy

Serbia has done a lot to be an attractive and developing destination: it offers advanced banking services that you can use online, maintains economic stability, and welcomes foreign investors (the local authorities are really helpful, and the Serbians are friendly).

In addition to that, the incorporation procedure is quite straightforward: a company with a bank account can be set up in a matter of several days. If you venture on your own, you will need to visit the country and perform all the required administrative procedures. However, you can entrust all the hassle to us and stay at home if you grant us a power of attorney: it will be transferred to our local representative who will complete all the formalities without your participation (except for the collection of documents). We help entrepreneurs concentrate on real business rather than administrative tricks!

You will need to choose an appropriate legal form for your company, and this post is devoted to different ways of company organization available in Serbia.

Sole Proprietorship

This is the easiest and most obvious type of business ownership (referred to as preduzetnik in the Serbian language). However, it has its disadvantages: you are fully liable with all your possessions. So if you go bankrupt, your personal assets may be taken away from you to pay the debts. Therefore, this form is mainly selected by professionals (like digital nomads) who have little risk of going bankrupt.

What is more, business development opportunities are very modest, and there is little flexibility. And still, this form of business is a good choice if you are going to open a small business that will mainly rely on your personal efforts.

Partnership

There are two possible kinds of partnerships in Serbia: general and limited. Let’s take a look at the peculiarities of each of them.

General Partnership

The general partnership (o.d. in the names of Serbian companies means that they are organized in this way) is available to both individuals and legal entities who can be its partners. Naturally, it takes at least two members to form a partnership, and they cannot be Serbian legal residents or citizens.

The capital requirements are not very high. Every partner has unlimited liability for all business operations completed by the partnership, which means liability with all personal property. New members can be admitted to the partnership only following the consent of the existing partners.

Limited Partnership

This legal form is abbreviated as k.d. in Serbian company names. As the name suggests, the liability of partners is limited in this case. However, this does not apply to everyone: there is at least one general partner whose liability will be unlimited. All the remaining partners are only liable within the scope of the contribution made to the partnership’s capital.

The general partner is the principal figure that manages the partnership and serves as a legal representative, while all the other members usually play less important roles.

Private Limited Company

If you see the d.o.o. abbreviation in the name of a Serbian company, this is a private limited liability company – the form selected by the majority of foreign and local entrepreneurs.

The requirements are very flexible: you will need at least one shareholder to register a company, and the maximum possible number is 100 (if you have 101 and more shareholders, you will need to choose a public company instead). The shareholders can be as diverse as you want: individuals and companies, Serbian citizens (residents), or the citizens (residents) of any other country.

This type of company can issue only registered shares. These can be sold or transferred, but only subject to the consent of all the other company members.

The private limited liability company is managed by at least one Director (more are possible, and none of them is required to be a Serbian resident). The Director is fully responsible for managing the company.

Public Limited Company

Finally, if you want to set up a large-scale company to achieve ambitious goals, a public limited liability company is exactly what you need (look for a.d. abbreviations in the names of Serbian businesses to see examples of public companies).

You will find very few differences with the incorporation procedure required in the case of a private limited liability company. There are minimum capital requirements, however: you will need to contribute at least EUR 25,000, with at least a half payable at the date of company formation, and the remaining amount to be paid within 2 years. The amount of capital has to be registered, and all the company founders have to confirm their agreement to do so in writing.

The number of company members is not limited.

The public limited company can issue shares to be traded on major stock exchanges if it meets the relevant requirements.

The company is managed by the Board of Directors elected at the General Meeting of Shareholders – at least three, but no more than fifteen directors are required (the exact number is set by the Articles of Association).

Directors are not required to hold the company shares (but they can do so) and may be residents or citizens of any country.

Follow the above link to find out more about compliance requirements for Serbian companies and the first steps required to incorporate one. Do not hesitate to contact our experts for help – we are just a click away!