Serbia - Establishing an Office Serbia - Establishing an Office
The Serbian Business Registers Agency (APR) oversees the establishment of foreign representative offices in Serbia and performs the registration of other foreign legal entities in Serbia. Foreign entities/persons and imported goods enjoy the same treatment and status as domestic entities (i.e., national treatment).
A representative office may operate in Serbia after completing the registration process with the APR, which takes approximately 10 days from the filing date of the application.
Representative offices may not sell goods or services directly, but may be used to support sales transactions or business development. They may conduct operations including market research and development, contract or investment preparations, technical cooperation, and similar business facilitation activities. They may not operate in the trade of armaments or other military equipment. Representative offices are permitted to hold foreign exchange and domestic currency accounts in authorized Serbian banks.
Foreign investors interested in opening a local subsidiary may register it as a joint stock company (a.d.), a limited liability company (d.o.o.), a limited partnership (k.d.), or a general partnership (o.d.). Recent amendments to the Law on Foreign Trade seek to simplify administrative procedures and harmonize terminology with World Trade Organization (WTO) standards. Branches of domestic and foreign companies and organizations are entitled to engage in foreign trade.
Limited liability companies may be established in five to ten days. They require only RSD 100 (less than USD one) in founding capital. There is no limit to the number of stakeholders in limited liability companies. The Company Law, effective as of 2012, generally conforms to other European laws on structuring joint stock companies. The minimum capital required for joint-stock company is RSD 3,000,000 (approximately USD 27,250). For more information visit the Serbian Chamber of Commerce’s Guide for Establishing a Company in Serbia.
Residence and work permits are required for foreign employees. All resident foreigners must pay an annual income tax if their income exceeds three times the average annual salary of an employee paid in Serbia in a given tax year. Obtaining business visas and temporary residence permits is a complicated and time-consuming process. All relevant information related to registering business entities, representative office or financial leasing, pledges on movable property and rights, and financial statements may be obtained at the Serbian Business Registers Agency (registar@apr.gov.rs).