If you are thinking about opening your own company in Serbia, you will be glad to hear that the process is not complicated too much and it is pretty quick. Serbian laws that are regulating the formation of a limited company (or Ltd, LLC, s.a.r.l., AG…), which is the usual type that is most wanted, are not restrictive and they don’t demand too many conditions (case is a bit more complicated in case of stock companies).
So if you have the above-mentioned intentions, your obligations would be providing part of the documentation reacquired by law, which wouldn’t represent extensive work, and another part of documentation is prepared by law office hired by your side, so from the moment when documentation is ready the whole process in front of authorities could be over in one week period of time and your new company would be ready to start its life on the market.
In terms that regulations by law are not restrictive, as mentioned above, founding capital that needs to be placed in order to start a limited company is around 1 euro. Also if you don’t have the need for physical space for your business in terms of office space or manufacturing facility or other, you have the option to sign up an address that belongs to some other company or person as headquarters of your company. The limited company as a type is also providing some sort of security because, as in the case of business failure, the company is responsible in front of creditors only with is own assets, while the owner of the company could not be held liable for company’s debts. Wort of mentioning is also the fact that when you appoint yourself (or anybody else) as director or CEO of the company you don’t have to be fully employed, leaving you the option to fully represent your company while just partially paying social contributions.
At the end are left reasons for somebody to start doing business in Serbia. Serbian market is developing market so potential investors could exploit advantages of those type of markets such as cheaper labor force, more flexible regulations, possible lower taxes and other factors that are creating significantly lower costs of operating a business and everything together comes with an easy and quick process for starting a limited company as mentioned above. Another of the important reasons could be fact that, at the moment of this writing, most of the European countries together with USA, Canada, and other countries are maintaining sanctions against Russia which could be devastating for companies from those countries that were previously active in business on Russian market, so having in mind that Serbia is one of the rare countries in Europe that didn’t put restrictions on trading with Russia, it could be also valuable option to be considered.
If you are interested, we are pleased to be in a position to offer our legal services to you and anyone who has the desire to start or open a company in Serbia, with our law office in Belgrade, the law office in Novi Sad or our other law offices. Feel free to check the rest of our website, Homepage, Contact page, or anything you like.