Registering a company in Serbia offers the opportunity to enter a stable European market, gain access to robust entrepreneurial support programs, and use a reliable banking system. Serbia’s “Commercial Companies Act,” “Registration Procedure Act in the Business Registers Agency,” and other local regulations impose no restrictions on foreign nationals who wish to conduct business in the country.
Interest in buying and registering businesses in Serbia has grown significantly among people from many different countries. Acquiring a residence permit based on business activity is straightforward: it usually takes about two months. The basic requirements for temporary residency include being of age (over 18), proof of a Serbian business, financial stability, health insurance, and residential accommodations in the country. As of 2024, Serbia is a candidate for EU membership, so once it joins the Union, foreign nationals will become citizens of the EU.
Why you should consider opening a business in Serbia
There are many advantages to setting up a business in Serbia, especially for foreigners. Key benefits include:
- Market expansion: Serbia has a free trade arrangement with EU countries and other European nations. It’s also expected to join the EU by 2025, which will allow local businesses to supply goods and services across the European Union without dealing with customs formalities. In addition, businesses will be able to gain access to EU-wide entrepreneurship support programs.
- State support: Serbia has several programs and organizations aimed at helping startups. Assistance includes grants, training, and consultation services. Newly established companies can also benefit from tax incentives and reduced obligatory payments.
- Simple residency process: Foreigners can apply for Serbian residency upon registering a business. No Serbian language skills are required, and the list of eligibility criteria is short. Once your business is legally established, you have to submit an application for a residence card to the local police department. This can also be done online. Family members, such as a spouse and minor children, can apply for residency simultaneously.
Registering as a sole proprietor, opening a company, or buying an established business
Foreign nationals can choose from several business forms in Serbia, including general partnerships, joint ventures such as limited partnerships, joint-stock companies, limited liability companies, or they can even set up a branch, cooperative, or foreign company representation. They can also operate as a sole proprietor (preduzetnik). You might also consider establishing a private charitable foundation in Serbia. You can learn more about this opportunity from this source. When choosing the business structure, it’s important to consider factors such as startup capital, need for partners, and the legal requirements involved. Registering as a sole proprietor is usually the simplest and cheapest option – it’s fast, requires no minimum capital, no need to hire employees, and you can use your place of residence as your legal address.
If your plan is to immigrate to Serbia through business, choosing the right structure for this purpose is crucial. Migration specialists can recommend the best business type for your situation and provide comprehensive guidance on relocating to Serbia based on business activities.
Starting a company in Serbia can involve purchasing an existing business or creating a new firm. The first option is ideal for those who prefer not to spend time on registration, staffing, or building a reputation from scratch. The second option suits those planning to relocate their existing business operations to Serbia. For such relocation, entrepreneurs have to legally close their existing companies. Alternatively, they can sell the business in their home country and set up a new one in Serbia with their own management team or hire Serbian residents. To employ foreign workers, a Serbian employer must obtain permission from the National Employment Service, while the employee must acquire a visa and a residency permit.
Steps in the process of registering a business in Serbia
Setting up a joint-stock company, LLC, general partnership, or limited partnership in Serbia is exclusively done online via the Business Registers Agency (APR) service. Those forming other types of business (such as a cooperative or branch) or operating as a sole proprietor can apply online or in person.
The registration process includes the following steps:
- Preparation
Here, you draft foundational documents and reserve a company name with the Business Registers Agency. You’ll also need a certified digital ID (equivalent to a digital signature) by applying to Pošta Srbije, the Chamber of Commerce, or another authorized agency. - Document submission
Create an account on the digital administration portal. The application has to be filed within 15 days after finalizing foundational documents. Using the eID account, log into the APR system, fill out the application in Serbian, and attach digitized versions of the required documents, certified by an authorized representative, along with proof of identity. The application fee is paid online under the “Price Calculation” section. Once the application is submitted, you’ll receive an email confirmation. - Application review by the registrar
The registrar processes the application within five business days. If everything is in order, your application will be approved. - Registration with regulatory authorities and opening a bank account
Upon successful registration, you’ll receive a unique ID from the Statistical Office, a tax ID (PIB), your selected tax regime confirmation, and information on social contributions and shareholders. You’ll also have to join the Chamber of Commerce (for businesses) or an association relevant to your field (for sole proprietors). To open a bank account, contact a Serbian bank.
Process for buying an existing business and opening a bank account
- Choose a business to buy
Select a suitable business based on market conditions, business type, and capital availability. You can find business offers through thematic sites, referrals, or other channels. - Complete the transaction
After discussing the terms with the seller, the buyer has to come to Serbia to finalize the deal. - Registering with authorities
After the sale, ownership and management changes are updated in the company’s foundational documents. Within 15 days of the ownership transfer, the new owner has to register these changes with the APR (either in person or online), submitting the ownership transfer agreement and other necessary documents. - Bank account setup or update
For banking, entrepreneurs commonly choose API bank, Eurobank (in Belgrade), OTPbanka, or Erste Bank (in Novi Sad). Submit registration documents, PIB, foundational documents, and any other documents requested by the bank.
Legal support for registering a business and obtaining residency in Serbia
Successfully establishing a business in Serbia and securing residency requires a strong grasp of local laws and procedures. Missteps or lack of information can lead to delays, missed benefits, or even rejection of residency applications. You can reduce risks, save time, and gain the full range of benefits if you get in touch with migration specialists. Legal experts handle everything from document collection and fee payments to company registration and residency processing, making sure that each step in the process goes smoothly.