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Company in Serbia

Cost: from 8500 EUR

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Register a Company with a Corporate Bank Account in Serbia

Get ready to explore the exciting opportunity of starting an international business! You can do it by registering a company in Serbia. The International Wealth team of experts is here to guide you through all company registration procedures. After that, we’ll help you open a special bank account just for your new business. The best part? You can complete the whole process in just 7 days!

Company Formation in Serbia

The International Wealth approach to doing things is simple yet broad-based. We offer you more than just a registered company with a bank account in Serbia. International Wealth experts will provide you with a comprehensive business solution that’s ready to go. The service cost starts at 8500 EUR, with a lot of value for your investment.

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NB: Looking for detailed information about how to register your company and easily set up a corporate bank account in Serbia? Get answers to all your questions during a free consultation with International Wealth pros!

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Here’s what the key stages of registering a company with a bank account in Serbia include (mind that International Wealth provides expert support at each stage, and all interim payments are already covered in the cost):

  1. Choosing a company type in Serbia.
  2. Selecting and approving the company name (before the company is established).
  3. Picking economic activity codes.
  4. Getting a valid address (although using a legal address for a business in Serbia is allowed, with a substance, you’ll enjoy more flexibility). We will help you establish a business presence in Serbia.
  5. Drafting the Memorandum of Association (MoA) tailored for your company’s legal form.
  6. Collecting all the documents necessary to register a company in Serbia.
  7. Discussing and resolving any disagreements or unclear points.
  8. Submitting all the required documents.

The initial stage has been completed. Yet, we’re not done with registering the company in Serbia yet. To help the client start their business, there are more things to do:

  • set up a bank account
  • contact tax authorities in Serbia to register the company
  • get an electronic digital signature (e-signature) for your company
  • consider registration for VAT purposes (although not obligatory, it’s essential to evaluate the business’s scope in Serbia, the founders’ intentions, and the potential for company expansion in the future).

While it’s technically possible to set up a company in Serbia on your own, the procedure may become lengthy and costly if you have no practical experience. The major challenges often come up when trying to open a corporate bank account. Extra issues may arise during the company registration in Serbia.

How much does it cost to register a company in Serbia? The service fee, which includes the basic package with a corporate bank account setup, starts at 8500 EUR. This budget ensures your business in Serbia will be incorporated without a hitch. If the client needs extra services and an expanded service package, International Wealth experts will discuss all the details during the planning stage and provide them with a list of suitable options. Although the costs associated with company registration in Serbia will differ in such cases, paying more means your company will be equipped with new valuable business tools.

Here’s how much it will cost you to register an LLC in Serbia (only administrative expenses are included, the exchange rate at the time of writing is EUR1/RSD 117.27):

  • RSD 5900 – limited liability company in Serbia
  • RSD 1500 – sole proprietorship
  • RSD 5900 – branch of a foreign company in Serbia.

Legal form of your company in Serbia

When you are about to register a business in Serbia, a limited liability company (LLC) isn’t the only choice you have. With LLCs being the most common option, many entrepreneurs wonder about the cost of setting up an LLC in Serbia. The question tops the list of the most common ones that International Wealth experts hear from their customers. However, business people have interesting alternatives. In certain cases, these alternatives might prove to be more effective than the traditional LLC.

Under the Companies Act 36/2011, 99/2011, 83/2014, 5/2015, 44/2018, 95/2018, 91/2019, and 109/2021, these are the legal forms for companies you may register in Serbia:

  • entrepreneur
  • d.o.o., a.k.a. limited liability company
  • partnership company
  • limited partnership company
  • joint-stock company.

These are the additional legal forms of companies you may register in Serbia:

  • branch office of a domestic legal entity in Serbia (resident company)
  • branch office of a foreign legal entity (non-resident company)
  • representative office of a foreign legal entity.

Take a look at the advantages of an LLC company in Serbia:

  • Members (shareholders) have limited liability.
  • It is the most popular form for running a business in Serbia.
  • There are no restrictions on hiring foreign workers.

These are the benefits sole proprietorships enjoy in Serbia:

  • simplified and quick registration procedure
  • less complex accounting requirements.

The perks of establishing a branch of a foreign company in Serbia are as follows:

  • Please refer to the above section on LLCs in Serbia.

Additional considerations before registering a company in Serbia

No doubt, it is super important to choose the right legal form, but it’s just one part of the puzzle. Before you start your company in Serbia, you need to clear up a few things:

  • company’s name
  • types of activities it will engage in
  • legal address of the company in Serbia
  • memorandum of association.

It is true that mistakes you can make when getting ready to register a company in Serbia might not be as easy to see as issues with its legal structure. But they still have a big effect on how well the business will perform. This makes it really challenging to try and start a company in Serbia all by yourself.

Here’s how you should choose a name for your company in Serbia:

  • Obligatory details include the name, legal structure, and main office location.
  • Make sure the name follows the rules of what’s considered polite in society.
  • The name may be in Serbian (written in either Cyrillic or Latin characters).
  • If you want to use the word Serbia or mention specific areas within Serbia in the company name, you need special permission.
  • If you want to use the name of another country, you need permission from that country’s authorities.
  • The name of your company in Serbia should be unique and not infringe upon existing intellectual property rights.

Learn how to choose economic activity codes for your company in Serbia:

  • When registering a company in Serbia, you shall pick its main type of business (refer to the list below). While you aren’t required to include extra or secondary codes, you do have the option to do so if you want.
  • The primary business activity for your company in Serbia should be the one that brings in the most money.
  • Certain kinds of activities demand specific approvals before you can proceed.
  • You’re allowed to register additional codes only if you have the necessary licenses and permits.
  • When you’re going through the steps of registering your company in Serbia, you’re allowed to specify only 1 main economic activity for it. Any other potential activities shall be mentioned in the appendix. They don’t require special permission.

These are the legal characteristics of the above economic activity types:

  • industry
  • code
  • name
  • description.

How to choose the line of business for your company in Serbia, essential considerations:

  • Once you’ve launched your company in Serbia and finalized the registration process with the BRA (Business Registers Agency), it is impossible to change the company’s main line of business or add extra ones (except for 1 specific case, see below).
  • If the money you make from a particular activity is more than what’s associated with the economic activity code you used when registering your company in Serbia, you can pick a different code for that main economic activity instead of the old one.
  • You may only change the economic activity code in question if the company’s BoD agrees thereto and all the founders are on the same page.

Your company’s legal address in Serbia:

  • If you’re facing budget constraints after the company is registered, you have the option not to rent a physical office and opt for a virtual legal address instead.
  • A virtual office offers equivalent opportunities to a physical one, but if your top priority is to ensure stability and promote business expansion in Serbia, establishing a tangible economic presence (substance) is the most favorable choice.

Memorandum of association

The memorandum of association is the most important document you require to register a limited liability company in Serbia. Prepared by the company’s founders, the memorandum of association shall be notarized when ready.

Here’s the essential information that must be included in the Memorandum of Association:

  • key details about the company’s members (shareholders)
  • company’s name in Serbia
  • Its address
  • primary economic activity code, along with related industries in which the company will operate
  • amount of registered capital (EUR 1 is a formal requirement), but it’s a good idea to contribute more when starting a business in Serbia to avoid problems later on
  • contributions to be made by each member of the company in Serbia
  • powers and responsibilities of the appointed director.

Documents necessary to register a company in Serbia

If you decide to register a company in Serbia on your own, providing legal support for it will be your biggest challenge. In some exceptional cases, the procedure is successful, enabling the new business owner to genuinely cut costs. However, more often than not, the journey of registering a company in Serbia lasts way too long, and complications arise in interpreting the existing corporate laws. Hence, it’s advisable to avoid taking independent steps, even if they seem more advantageous.

These are the minimum required documents to register a company in Serbia:

  • standard application (used for both company setup and its inclusion in the Taxpayer Registry)
  • identification papers for all company founders (if a founder is a legal entity, the standard array of corporate documents is necessary)
  • Memorandum of Association
  • bank certificate confirming you paid all registration fees.

To register a company in Serbia, 2 routes are usually available. You may either do it in person (which requires a visit to the jurisdiction) or remotely. In the latter scenario, founders appoint a designated representative and provide them with a notarized power of attorney. The latter approach is the customary route for International Wealth experts to follow. We specialize in comprehensive solutions, offering business options of any complexity.

Setting up a corporate bank account for a company in Serbia

If you rely solely on information from financial institutions, the procedure seems straightforward. However, the reality that business people face during company registration in Serbia is far from rosy. Therefore, selecting a bank and preparing the necessary documents should be taken seriously. Failing to do so will make it impossible for you to do business in Serbia.

Here are the basic documents you will need to set up a corporate account for a company in Serbia (* – a document copy shall be submitted, along with an apostilled and notarized translation into Serbian, and an original copy of the document):

  • standard application
  • registry extract*
  • incumbency certificate for the company’s manager*
  • certificate of good standing
  • apostilled power of attorney to open a corporate bank account
  • company’s articles of association in Serbia (translated into Serbian and notarized)
  • description of the company’s business area (in any format)
  • copies of personal identification documents for all beneficiaries, directors, and managers.

Kindly note the following:

  • The bank may request additional documents from potential customers.
  • When you visit the bank, you’ll need to complete a form with sample signatures of all authorized persons.
  • If you want extra services (such as opening an account in a currency different from RSD, using online banking services, getting payment cards, etc.), you need to submit a separate application.
  • When you register a company in Serbia, don’t forget that the country has several commercial banks. In this situation, customers are free to choose the financial institution they like best.
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NB: It will be much easier for you to open a bank account in Serbia if an International Wealth seasoned expert accompanies you at the bank. This way, you will avoid language difficulties, quickly resolve any issues with the bank staff, and feel more confident and assured!

Tax returns, digital signatures, and VAT registration

When you are about to launch a business in Serbia, it’s not only about getting your company registered and setting up a corporate account for it. While these are important steps, there are other things to think about for a successful start. To make sure your business does well and makes money, you’ll also have to take care of 3 other important things: how to submit tax returns, sign up for VAT, and get a digital signature.

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NB: International Wealth experts are well-equipped to assist you with any question you may have about registering your company for VAT purposes as well as tax and accounting issues that your company may experience in Serbia.

Here’s what you should know about tax issues in Serbia:

  • You shall submit your tax return within the statutory deadline (15 days after the company is registered).
  • Your tax return is a formal statement showing that the company has paid its corporate income tax.
  • Usually, a designated accountant (someone from the company or hired externally) fills out the tax return, especially if the Serbian company gets help from a specialized firm or expert.

Electronic digital signature: important things to remember

  • EDS allows you to work with important documents online.
  • You need it to submit yearly reports (including tax and financial ones).
  • The decision about your EDS application will take up to 15 work days at most.
  • You can’t get the EDS automatically. After you’ve registered your company in Serbia, you have to send a special request to a trusted agency (there are 5 of them in the country).
  • Only the director of your company in Serbia can get the EDS certificate.

VAT registration essentials:

  • It’s up to you whether you want to register your company in Serbia for VAT purposes.
  • To make a well-informed choice, you’ll have to carefully weigh all pros and cons, with the primary assessment criteria centering around projected earnings and tax rates.
  • With projected annual earnings above RSD 8 million, VAT payment is a must.

Company with a corporate bank account in Serbia

The service is both a remote and in-person one. While you can register a company in Serbia remotely, it will take a personal visit to Serbia to open a bank account there. To discuss the collaboration terms, order the service, and decide on additional features, don’t hesitate to get in touch with International Wealth experts using your preferred contact method. Payment for the service (starting at 8500 EUR) is made after our experts give their approval (choose any payment option you like).

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FYI: The International Wealth team will be happy to help you choose the best hotel, get a visa, arrange for a transfer from the airport or railway station, and pick the best transport routes. Besides, we will arrange for you to visit the necessary public offices or do it on your behalf.

These are the expenses included in the service cost:

  • company registration in Serbia
  • payment of government fees
  • opening a bank account in Serbia
  • issuing a tax identification number (TIN)
  • assistance with form completion
  • registration address valid for 3 months.

Below, you will find potential additional expenses:

  • document translation into Serbian
  • designation of a signatory for tax reports (only if the client isn’t a Serbian resident)
  • annual expenses (varying with company turnover): legal address and basic accounting
  • local director services
  • courier services
  • obtaining the required certificates
  • extra consultations
  • engaging third-party experts (hourly payment and concierge service).
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To message International Wealth experts with any questions or comments of yours, kindly use our email [email protected].

How can I register a company in Serbia?

To register a company in Serbia, the first step is to choose a legal form, such as LLC, JSC, or partnership. Then, prepare a set of documents and pay the corresponding state fees. The documents must be translated into Serbian. Once this is completed, the registrar will review the application and determine whether you can proceed with the registration.

How do I set up an LLC in Serbia?

Setting up an LLC in Serbia is pretty straightforward. You can have 1 owner and 1 director, regardless of their residency status. The minimum authorized capital required is only EUR 1. NB: all companies must have a local legal address and select their activities under the classifier. Once the documents are prepared, they may be submitted to the Registrar for processing. To make things even easier, the International Wealth team will assist you with submitting your application, whether you prefer to do it in person or remotely. This is possible if you arrange for a PoA to be issued to us.

What is an LLC in Serbia?

A limited liability company (LLC) in Serbia is a type of legal entity that can be established by both residents and non-residents, including individuals and legal entities. The minimum share capital required to set up an LLC in Serbia is only EUR 1. The owner’s liability is limited to their contribution to the company, which makes this legal form an attractive option for those seeking to protect their assets. To register an LLC in Serbia, you can either visit the registration office in person or submit your application remotely. To achieve this, be sure to grant us a PoA.

How much does it cost to set up a company in Serbia?

To establish a company in Serbia, you should consider the cost, which comprises the company’s authorized capital (from EUR 1), state fees, document preparation and translation fees, and other expenses such as legal address and office space rental, accounting services, and power of attorney. Depending on the legal form you choose and the specific requirements, the costs may vary.

How much does it cost to register a company in Serbia?

To register a company in Serbia, certain expenses are inevitable. These include the company’s authorized capital, intermediary services, document preparation and translation, state fees, and rental of a legal address. Please mind that after registration, expenses related to hiring an accountant are also mandatory.

Is it easy to start a business in Serbia?

Registering a company in Serbia usually takes around a week, as long as all the necessary documents are prepared properly. Serbia is known for the multiple opportunities and incentives it offers to businesses, inter alia, investments and special economic zones. With the help of experienced professionals, setting up a business in Serbia is both straightforward and efficient.

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