A joint stock company in Serbia is a legal entity that can be established following the Serbian Company Law. One of our company formation specialists in Serbia is at your disposal with information about the formalities involved and can manage the procedures from the start. In the following lines, you can read about how to open a joint stock company in Serbia and some of the services provided by our team of experts.
| Quick Facts | |
|---|---|
| Purposes of a joint stock company in Serbia | Conducting business activities, including manufacturing, services, trading etc. |
|
Registration authority |
Serbian Business Registers Agency (SBRA) |
|
Legislation |
Company Law (2011) and Securities Law |
| Minimum share capital | RSD 3 million (approximately EUR 25,500) |
| Requirements for JSC in Serbia |
– founders: one or more individuals or legal entities; – minimum share capital: RSD 3 million; – bank account: required for depositing share capital |
| Minutes of constitutive meeting required (YES/NO) |
YES |
| Signature sample solicited for JSC registration in Serbia (YES/NO) |
YES |
| Number of directors |
Minimum 1 director (can be a legal entity or individual) |
|
Management |
Managed by the Board of Directors (minimum 1 member) |
| Documents for opening a bank account in Serbia | Company registration certificate, proof of directors’ identities, and tax registration number |
| Board of executives meeting requirement |
Meetings are required for decision-making on corporate matters |
| Corporate income tax rate in Serbia |
15% |
| Dividend tax rate in Serbia |
15% |
| Time frame for registration |
5-15 business days |
| Working with our Serbian agents | You can get support from our agents with legal, administrative, and registration processes |
Table of Contents
How can a joint stock company be registered in Serbia?
As in the case of any business structure, the joint stock company in Serbia must be aligned with the current legislation of this country. Thus, the following procedures are important:
- The Article of Association and the Memorandum of Association, the main governing documents of the joint stock company in Serbia, are drawn up, in which the activities of the respective company are stipulated;
- The resolution issued by the National Bank of Serbia is required for specific entities (incorporation of banking or insurance companies);
- Share capital contributions will be deposited in a local bank account in Serbia;
- For joint stock companies in Serbia, a capital of around EUR25,500 (RSD3 million) is needed;
- Complete the registration form and submit it to the Serbian Business Registers Agency;
- The pre-approval of the government authorities is expected, depending on the type of joint stock company, whether public or not.
We specify in this sense that at least one shareholder is needed to open a joint stock company in Serbia without any restrictions regarding his or her residence. You can discuss more about company formation in Serbia with one of our local representatives and also explore the following infographic:
Types of joint stock companies in Serbia
Serbian law recognizes two main types of Serbian joint stock companies (JSCs), each with distinct characteristics:
Open Joint Stock Company (Public):
- Requires a minimum share capital of EUR 25,000;
- This type of JSC in Serbia can have more than 100 shareholders, providing flexibility for public investments;
- Only open JSCs in Serbia are eligible to list their shares on the stock exchange, opening opportunities for access to capital from public markets;
- These Serbian joint stock companies are subject to stricter regulatory oversight, ensuring transparency and accountability to shareholders and the public;
- Typically, open JSCs in Serbia are suited for large-scale businesses seeking to expand their reach and shareholder base.
Closed Joint Stock Company (Private):
- Also requires a minimum share capital of EUR 25,000;
- However, it is limited to maximum 100 shareholders, maintaining a more private ownership structure;
- Closed joint stock companies in Serbia do not have the option to list shares on the stock exchange, thus offering greater control to the founding members and investors;
- This type of JSC in Serbia is ideal for smaller businesses or those who prefer keeping ownership within a select group, avoiding public scrutiny or regulatory complexity.
For support in the process to open a company in Serbia, our Serbian company formation agents can provide relevant assistance.
Opening a bank account for a joint stock company in Serbia
One of the procedures related to opening a joint stock company in Serbia is the bank account. The representative of the respective company must present the documents required by the bank and complete certain standard forms. A bank account for a joint stock company in Serbia can be opened relatively quickly if all the procedures are followed, as well as the formalities. You can opt for our services to represent you when you want to open a joint stock company in Serbia, and implicitly a bank account for this company.
Is a tax ID required for opening a joint stock company in Serbia?
Yes, just like other structures, it is necessary to obtain a tax ID (tax identification number) before carrying out activities as a joint stock company in Serbia. This number can be issued when the joint stock company in Serbia is registered and receives a dedicated number at the time of establishment.
Management body and responsibilities in a joint stock company in Serbia
A joint stock company in Serbia must have an appointed management body. Here are some of the responsibilities:
- The managers approve all financial declarations, as the case may be;
- The management body changes rights related to company shares;
- The management body of a joint stock company in Serbia can increase or decrease the share capital in the firm;
- Can acquire or dispose of high-value assets in the firm;
- Where applicable, changes in the legal form can be applied, if agreed with the company owners;
- The management body can also decide to start the company‘s liquidation and bankruptcy process if that is the case;
- The Memorandum of Association and the Articles of Association of a joint stock company in Serbia should contain detailed information about the rights and responsibilities of the management body of such a firm.
Notarization procedures for opening a joint stock company in Serbia
When opening a joint stock company in Serbia, you must take into account the fact that certain documents must be translated, notarized, and legalized. Corporate decisions of foreign companies and documents issued by foreign agencies that are presented at the opening of a joint stock company in Serbia are documents that must be translated and legalized. Here are other aspects to take into account in this regard:
- Certification of a document with an apostille might be requested by the Serbian authorities if the foreign country is a party to the Hague Convention;
- The legalization is not compulsory if there is a bilateral agreement between Serbia and that foreign country from which a businessman wants to open a joint stock company;
- Certification requirements for each foreign document are determined in each particular case;
- In Serbia, it is permitted to register a joint stock company electronically. Therefore, all documents must be submitted to the relevant authorities in electronic format, not before being authenticated. This is where an electronic certificate must be issued by a notary public in Serbia or a registered lawyer at the Serbian Bar Association.
Therefore, if you want to set up a company in Serbia, especially a joint stock company, you should consider the above formalities. We remind you that the procedures related to company incorporation in Serbia, including for this type of structure, come under the attention of our specialists.
What other formalities must be fulfilled for joint stock company registration in Serbia?
In addition to those mentioned above for opening a joint stock company in Serbia, you must know that at least 1 director is needed, and just like in the case of shareholders, he does not have to be resident in Serbia.
The registration procedure of a joint stock company in Serbia can be done by a Serbian lawyer, authorized by the shareholders. However, you must bear in mind that the director of the company can be requested, with a physical presence, for post-registration formalities of a joint stock company in Serbia.
Audit obligations for JSCs in Serbia
Joint stock companies in Serbia must comply with the legislation regarding audits. In this sense, public joint stock companies are the subject of the audit, and this procedure must be carried out by an external auditor.
Also, related to this topic, you should know that joint stock companies with incomes exceeding EUR 4.4 million per business year must have an audit that helps in the preparation and filing of annual financial statements.
Tax incentives and reliefs for JSCs in Serbia
This country offers tax incentives to encourage investments, particularly for setting up joint stock companies in Serbia:
- Corporate income tax: a flat 15% rate applies, ensuring predictability for businesses;
- Sector-specific incentives: Serbian JSCs in sectors like technology and sustainability may receive reduced rates or exemptions;
- Geographical incentives: businesses investing in underdeveloped regions can benefit from tax holidays or other reliefs;
- R&D credits: JSCs in Serbia involved in research and development may qualify for additional tax deductions or credits.
These incentives help attract both local and foreign JSCs in Serbia, fostering business growth and regional development. For assistance regarding taxation and financial aspects of Serbian joint stock companies, our local accountants in Serbia can offer their expertise. Moreover, our company formation agents in Serbia can offer support in the matter of opening a Serbian company.
Data on Serbian economy
In 2024, Serbia’s economy showed steady growth. Key sectors like construction, industrial production, and retail trade performed well, while agriculture and telecommunications faced challenges. This overview highlights the main economic trends of the year:
- GDP growth: the real GDP grew by 3.9% compared to 2023;
- gross fixed capital formation: recorded a real growth of 9.2%;
- agricultural production: fell by 8.8%, while industrial production grew by 3.0% and manufacturing by 4.4%;
- external trade: exports grew by 1.7%, and imports increased by 5.6% in euros.
Furthermore, you can opt for the comprehensive and professional services offered by our experienced accountants in Serbia if you are considering setting up a joint stock company in this country, as they will guide you through every step of the process, ensuring that all legal, financial, and regulatory requirements are met efficiently and accurately.
Please contact our company formation agents in Serbia for extra details about the procedures involved and related formalities for joint stock companies.