Guide to Company Incorporation in Serbia

1. What is the minimum share capital of a Serbian Limited Liability Company (d.o.o.) ?
The minimum capital requirement for a Serbian Limited Liability Company is 500 EUR. Stakes can be pecuniary contributions and any other kind, including work and services.

2. What is the minimum share capital for an Serbian Joint Stock Company (a.d.)?
Serbian Joint Stock Companies require a 10.000 EUR initial capital which should be fully paid on the day of deposit.

3. Are there any special requirements for establishing a Serbian Limited Liability Company?
According to Serbian Law Limited Liability Companies can be set out by one or more legal or physical persons engaging in activities under business name. The maximum number of members of such a company is 50. There are no regulations as to the citizenship of the founders, nor does the director have to have certain nationality. However in some cases certain documentation of the director is needed in order to commence the registration process. Usually the process of company incorporation can be done by a representative of the future company provided he or she is authorized with power of attorney. Limited Liability Companies are required to have a registered address in Serbia. Any Serbian Company needs to open a bank account and therefore personal visit of the company's director may be requested by the chosen bank.

4. How can I register for VAT in Serbia?
Companies that are subject to VAT taxation and have a certain turnover are required to register for VAT. In order to do so the founders must file a form at the Serbian tax authorities along with documentation on the company such as extract of articles of association, address and other information. After the VAT number is issued by the Serbian tax authorities, companies can benefit from VAT refunds and deductions.

5. How can I open a bank account in Serbia?
It is mandatory for a Serbian company to have a bank account in which to carry out transactions. The founder is free to choose a bank that best suits the company's needs. The initial capital should be credited to the account while payment receipt serves as proof of payment when the company is registered. Choosing the most appropriate bank is important because some banks require the personal visit of the account's founder to ensure on his or her existence. However, most banks are satisfied in collaborating with a representative of the company.

6. How can I recruit personnel in Serbia ?
A brand new company that is looking to hire employees has a lot of alternatives to choose from. Serbian recruitment agencies offer focused attention and select the most appropriate candidates for the company's needs. Also there are plenty websites that offer the possibility for a company to create an account and post job offerings, while choosing the best applicants.

7. What is the average salary in Serbia?
The average salary of Serbian workers is around 500 EUR.

8. What is the overall economical situation in Serbia?
The economy of Serbia is based on industry and agriculture. Even though the country has a history of economical problems, liberalization process established in the last decade has increased the economical development of the country. However the main problems remain the high unemployment rate and trade deficit. In the last few years the government of Serbia has taken measures to attract foreign investment by offering various incentives for investors, such as preferential loans, tax deductions etc.