Business entities in Serbia in 2022

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Healy Consultants will assist our Clients with Serbia company setup after advising the optimal corporate structure. There are several ways of doing business in Serbia, the most common being the setting up of an LLC. Alternatively, foreign companies can also setup a PLC, a branch office or a representative office.

The Serbia limited liability company (društvo sa ograničenom odgovornošću)

Legal requirements to setup Serbia business entity

  • The LLC is the most common business entity in Serbia. This entity must appoint at least one director and one shareholder, who can be of any nationality. The minimum paid-up share capital required to setup a Serbian LLC is only €1. A company secretary must also be appointed. Healy Consultants will provide these services for our Client;
  • This entity must also appoint a company representative who should be a natural person. The Serbian LLC should also appoint a registered auditor as the company is legally obliged to carry out an annual audit. A local registered office address is also mandatory for Serbia business setup. This address must maintain statutory and accounting records of the company.

The Serbia public limited company (akcionarsko društvo)

  • A Serbian PLC must appoint a minimum of three directors and one shareholder of any nationality. The minimum paid-up share capital required is €25,000 of which 25% must be paid-up before registration of the company. The PLC must appoint a company secretary and Healy Consultants will provide these services if required;
  • The PLC must also appoint a corporate representative who should be a natural person and if listed on the Belgrade Stock Exchange, there is also a mandatory requirement for a supervisory board comprising of a minimum of 3 members and the total number must be odd;
  • A Serbian PLC must submit audited financial statements annually and therefore must appoint a registered auditor. All registration documents must be translated into Serbian.

The Serbia branch office (podružnica)

Foreign companies may also establish branch offices in Serbia which requires a legal representative of the company and a registered office in Serbia.

The Serbia representative office

Clients who are not interested in Serbia company setup but are still looking to market their products in Serbia should register a representative office of their international company. Representative offices may engage in i) market research and ii) promoting the business of the parent company.

Table of comparison between Serbia entities

  LLC PLC Branch Rep Office
Also known as: D.O.O A.D. Podružnica Rep office
How long to set the company up? 3 weeks 4 weeks 5 weeks 5 weeks
How long to open company bank account? 4 weeks 4 weeks 5 weeks 5 weeks
Legal liability? Limited Limited Unlimited Unlimited
Wholly foreign owned? Yes Yes Yes Yes
Minimum paid - up share capital? €1 €25,000 €1 €1
File annual tax return? Yes Yes Yes No
Tax registration certificate required? Yes Yes Yes No
Recommended corporate bank account? Banca Intesa Eurobank UniCredit Banka Komercijalna Banka
Does our Client need to travel? No No No No
Resident director required? No No No No
Resident shareholder required? No No No No
Resident representative required? Yes Yes Yes Yes
Minimum directors allowed? 1 3 1 1
Minimum shareholders? 1 1 1 1
Tax identification code needed? Yes Yes Yes Yes
Company secretary required? Yes Yes No No
Corporate shareholders allowed? Yes Yes Yes Yes
Corporate director(s) allowed? Yes Yes Yes Yes
Statutory audit required? Yes Yes No No
Regulated by? Serbian Chamber of Commerce and Industry Serbian Chamber of Commerce and Industry Serbian Chamber of Commerce and Industry Serbian Chamber of Commerce and Industry
Serbia corporate tax rate? 15% 15% 15% 0%
Annual financial statements required? Yes Yes Yes No
Allowed to issue sales invoices? Yes Yes Yes No
Allowed to sign contracts? Yes Yes Yes No
Allowed to import and export goods? Yes Yes Yes No
Can rent an office space in Serbia? Yes Yes Yes Yes
Can buy Serbia property? Yes Yes Yes No
Total Serbia business setup costs in yr. 1? €9,850 Contact us €9,450 €8,550
Subsequent annual costs (incl. accounting and tax fee)? €4,350 Contact us €6,325 €4,250
Sample engagement invoice? View invoice PDF Contact us View invoice PDF View invoice PDF

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Contact us

For additional information on our business setup services in Serbia, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
serbia ministry of finance Tax administration of Republic of Srpska Chamber of Commerce and Industry of Serbia serbian business registers agency National bank of Serbia