Serbia, located in Southeast Europe, is a country with a rapidly growing economy and a favorable business environment. Registering a business in Serbia is a straightforward process that can be completed in a few simple steps. In this article, we will guide you through the process of registering a business in Serbia.
Table of Contents
Step 1: Choose a Business Entity Type
The first step in registering a business in Serbia is to choose a business entity type. The most common types of business entities in Serbia are Sole Proprietorship (Jednočlano Društvo), Limited Liability Company (Društvo sa Ograničenom Odgovornošću), and Joint Stock Company (Akcionarsko Društvo).
Sole Proprietorship is the simplest and most affordable option for small businesses, while a Limited Liability Company or Joint Stock Company is more suitable for larger businesses. Each business entity type has different legal requirements, such as minimum share capital and registration fees. Therefore, it is essential to research the various entity types and choose the one that best suits your business needs.
Step 2: Name Reservation
The next step is to reserve a company name. You can check the availability of the desired name through the Serbian Business Registers Agency (SBRA) online database. If the name is available, you can reserve it for 30 days by submitting a request for a name reservation to the SBRA.
Step 3: Draft the Articles of Association
The Articles of Association is a legal document that outlines the rules and regulations of the company. It includes details such as the company’s objectives, shareholders’ rights, and the company’s management structure. If you are registering a Limited Liability Company or Joint Stock Company, you must draft the Articles of Association and have them certified by a notary public.
Step 4: Obtain a Tax Identification Number
After drafting the Articles of Association, you must obtain a Tax Identification Number (TIN) from the Tax Administration of the Republic of Serbia. You will need to fill out an application form and provide supporting documentation, such as a copy of your passport and proof of address.
Step 5: Register with the Serbian Business Registers Agency
The final step in registering a business in Serbia is to register with the SBRA. You will need to submit the following documents:
Articles of Association (if applicable)
TIN certificate
Proof of payment of registration fees
Copy of identification documents of shareholders and directors
Proof of ownership or lease of registered office
Once your application is processed, the SBRA will issue a certificate of incorporation, which confirms the registration of your company.
In conclusion, registering a business in Serbia is a relatively simple and straightforward process, provided you follow the legal requirements and procedures. Generis Global can help you with your business in Serbia by providing legal advice and assistance in the registration process. Contact us today to learn more about how we can help you with the legal part of your business journey in Serbia.