DOING BUSINESS IN SERBIA IN 2018
Since 2003, Healy Consultants Group PLC has assisted our Clients with business registration in Serbia. Our services include i) Serbia company registration ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
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Advantages of Serbia company registration
- A Serbia limited liability company can be incorporated with 1 director and 1 shareholder, who can be of any nationality and who can be individuals or corporate bodies. The minimum paid-up capital required is only €1 and our Clients will not need to travel to complete the engagement;
- Serbia is a member of the Black Sea Economic Cooperation (BSEC), the Central European Free Trade Agreement (CEFTA) and is also the only European country with free trade agreements with the European Union, Russia, Belarus and Turkey. This makes Serbia an ideal location for registering a manufacturing/distribution company and creates a possibility for companies to trade their goods duty free across the borders to a market with over 1 billion people;
- Serbia has one of Europe’s lowest tax rates at 15%. Hence many of our Clients register a Serbian company as the headquarters for their businesses;
- Foreign investors can i) establish 100% foreign owned businesses in Serbia ii) own property iii) incorporate companies in any part of the country without restrictions and iv) export goods and services duty free and without restrictions;
- Serbia’s workforce consists of English-speaking high quality skilled labor at a low cost. This is an advantage to entrepreneurs and strengthens business performance;
- Owing to the country’s favorable location, Serbia serves as a connection between Western Europe and the Middle East with a well-developed network of infrastructure as well as a stable business climate and is therefore an ideal business hub for entrepreneurs who would like to access these markets;
- Serbia has signed double tax treaties with 54 countries including Canada, China, Denmark, France, Germany, Ireland and the UK among others and this serves as a major incentive to investors as it aims at reducing taxes and encouraging investments and easy flow of goods and services between the member countries.
- Serbia has world-class IT services. The nation is home to 1600 innovative IT companies and is known for its proficiency in high-end IT software and hardware solutions. Moreover, Microsoft has started its 4th Development Centre in the world in Serbia.
Disadvantages of Serbia company registration
- A Serbia public limited company requires at least 3 directors and 1 shareholder and a minimum paid-up share capital of €25,000;
- The official language of Serbia is Serbian thus all incorporation documents must be translated before the company can be incorporated. This slows down the entire process while registering a company in Serbia and has cost implications for the investor;
- Corruption is still a serious problem in Serbia due to inefficient government bureaucracy as the government does not have a track record of investigating and prosecuting corrupt officials especially in high profile cases.
- Serbia has lengthy tax payment procedures. There is a total of 66 tax payments per year that are to be filed in Serbia which approximately takes 279 hours on average.
- Time to incorporate: Three weeks
- Cost to set up: €7,750
- Minimum capital: €1
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: Yes
- Resident director: No
- Corporate tax rate: 15%
- Corporate tax base: Worldwide
- Shelf companies: No
- Main company type: DOO
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