Business formation and post-formation necessities
Generally, foreign or local investors in Serbia may run a business as entrepreneurs or set up a company in the form of (a) Joint Stock Company (Serbian abbreviation: “a.d.”), (b) Limited Liability Company (“d.o.o.”), (c) Limited Partnership (“k.d.”), and (d) General Partnership (“o.d.”). To that end, the most common company type is a Limited Liability Company, which requires merely RSD 100 for incorporation.
In addition, entrepreneurs, representative offices, branches, business associations are also regarded as businesses, often governed by somewhat different legal and tax regimes.
For instance, LLC is considered as a separate legal entity with full legal capacity to independently enter into business ventures. Hence, LLC must act fully in accordance with local regulatory requirements. The set up process usually takes about 5 to 10 days (from the date of receipt of whole documentation) to complete, and involves the following main steps: (I) Registration before the Serbian Business Registration Agency (SBRA) – obtaining ID number and tax ID number; (II) Obtaining the Seal of the LLC; (III) Registration before the local bank, i.e. opening of the bank account(s); (IV) Registration of the LLC before the Tax Office – registration for CPT and VAT.
After the company is fully registered, Ilić | Stojković law firm professionals can assist clients with post-formation necessities such as preparation of employment and/or other related agreements, standard contracts for acquiring/providing goods and services, the acquisition of new or additional property and equipment for the conduct of business and so forth.
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