Both domestic and foreign entrepreneurs can enter the startup ecosystem in Serbia, a prolific and prepared environment for such businesses. The registration of a startup in Serbia is a simple process that can be overseen by one of our company formation representatives in Serbia. We can handle the paperwork, business licenses, and permits, tax compliance, and many more.
| Quick Facts | |
|---|---|
| Business entities suitable for startups |
– limited liability company, – sole proprietorship |
|
Who can open a startup in Serbia? |
Both local and foreign entrepreneurs wanting to make investments in Serbia through startups. |
|
Laws for startups in Serbia |
– FDI Law in Serbia, – Company Act in Serbia |
| Minimum share capital for LLC | RSD 100 |
| Business plan required (YES/NO) |
Yes |
| Required documents |
Articles of Association with information about the business |
| Business license (YES/NO) |
Yes |
| Validation of business name |
A name verification and reservation are required before opening a startup. |
| Local bank account |
Recommended |
| Tax registration | Required for business formation in Serbia |
| Business addres required (YES/NO) |
Yes |
| Number of directors |
At least 1 |
| Accounting services |
– bookkeeping, – payroll, – annual financial statements, – financial reports |
| We offer company formation services for startups in Serbia |
Our local advisors can manage the registration formalities with the relevant authorities. |
| Free case evaluation | You can benefit from free evaluation offered by our advisors. |
Table of Contents
How do I register a startup in Serbia?
The registration of a startup in Serbia begins with the identification of the proper business form for future activities, alongside the chosen industry. In this case, the limited liability company might represent the most suitable business structure for all activities. However, some entrepreneurs can act as sole proprietorships when opening a startup in Serbia. Below you can find useful information and details about the main steps of forming a startup in Serbia, by registering an LLC:
- One must prepare the Articles of Association with information about the owners, activities, general rules, and many more.
- The name verification and reservation are important steps in forming a startup in Serbia.
- Specific business licenses and permits must be obtained for certain activities of the company.
- Registration for tax and social contributions is required.
Looking to register a startup in Serbia? Let one of our company formation specialists in Serbia help you with all the formalities and entitled registration authorities. Once the Certificate of Incorporation is issued, your business is ready for activities.
Is a partnership suitable for my startup in Serbia?
General or limited partnerships might be ideal entities for startups in Serbia and can be established by more than just two business partners. It is important to note that a partnership agreement stands at the base of such structure, comprising information about the activities, owners, assets, general rules, liquidation steps, and many more. Foreign investors have the chance to easily set up partnerships in Serbia and observe the general rules of such a business structure, helped by one of our Serbian company incorporation agents. We can offer support for company formation in Serbia and registration with the authorities, plus assistance and business consultancy on demand.
Can I ask for additional support for my startup in Serbia?
Yes, it is quite recommended to continue the business path and development with the help of an experienced team in company formation and business consultancy. Young entrepreneurs require support and assistance from a team of advisors and consultants who can guide them on the market, helping in matters like business connections, consultancy, development, business strategies, marketing, and many more. If you consider that your business ideas can transform into a successful company in Serbia, please feel free to address our company formation experts in Serbia and rely on our support and experience.
Searching for the proper industry for your business
Serbia is open to foreign investments of all kinds and also offers the proper business climate and encouragement to sustain the development of startups in the country. It is recommended to have a market analysis and detect the right type of industry in which you believe you can develop your activities and generate profits. Education, tourism, IT & communication, research and development, medicine, or entertainment might be just the right industries and business sectors for domestic and international entrepreneurs. Then, attending to similar business groups that share the same ideas and activities, training and varied networks should be the next natural step in business development and that to attract potential investors. More than that, your startup can be acknowledged from overseas if you connect with foreign investors and financiers interested in supporting small companies.
Information about the startup ecosystem in Serbia
One of the engines of the economy in Serbia is the IT&C sector. With many advantages on board, Serbia has become the optimal destination for companies from Western European countries that want to develop their startups in this country, in a beneficial freelancing hub. Thus, it can be said that the labor market is even a great supplier from this point of view.
The first Center for the Fourth Industrial Revolution, also called C4IR, is Serbia’s first startup ecosystem, which has a clear objective: to provide a wide range of advances and tools in sectors like biotechnology, where the application of artificial intelligence is also on the list, especially in the medical sector. Serbian startup ecosystems include companies active in innovative sectors and agriculture, among others, so that many foreign entrepreneurs want to open a startup in Serbia and benefit from an optimal climate for business development. Here is other interesting information in this direction:
- Serbia Innovation Fund is the government program through which funds can be accessed for the development of such businesses.
- Programs dedicated to the development of Serbian startup ecosystems work to attract individuals with high net worth to include venture capital funds in Serbia.
Another public sector enterprise, known as “Strategy for the Development of Startup Ecosystems of Serbia”, is meant to accelerate the Serbian startup ecosystem by classifying and backing popular startups. Having such support from the public sector and seeing the number of foreigners interested in the startup ecosystem of Serbia, the sector is forecast to develop even more than it has in recent years and align with powerful networks worldwide.
If you want to set up a company in Serbia, you can benefit from the support offered by our specialists. We also recommend the services offered by our accountants in Serbia to align you with the legislation and procedures in this important field.
How easy is it to open a startup in Serbia as a foreign entrepreneur?
Many foreign entrepreneurs find themselves in the Serbian market with their businesses. What attracts quite a lot in sectors of interest such as IT is the ease with which a company can be registered in Serbia. There are no restrictions regarding the nationality of those who want to start a business in Serbia, as long as local legislation is respected, including immigration, if it is the case of staff relocation.
Therefore, foreign entrepreneurs who find Serbia an optimal destination for the development of a startup will not face difficulties in creating the desired company. On the other hand, those who want to set up a company in Serbia can benefit from specialized support, as is the case with our local agents. We are here to facilitate the process of registering a company in Serbia, by managing the whole procedure, in a fast and reliable manner.
We have gathered information, facts, and figures about the economy in Serbia that you might find interesting:
- Real GDP registered a growth of approximately 2.3% in 2022 in Serbia.
- Serbia’s real GDP is expected to register a growth in 2023, by about 2%, due to strict macroeconomic policies, but with horizons of improvement in 2024.
- Considering the current reforms in Serbia, economic growth is expected to register a growth of 3% in 2024.
- The current account deficit in Serbia is expected to decline to below 5% of the country’s GDP.
Those entrepreneurs interested in startups in Serbia are invited to contact our team of company formation representatives in Serbia and ask for complete support and assistance.