Registration of a company in Serbia is an opportunity to enter the European market in a country that attracts foreign investors. This state is constantly bringing its legislation in line with the EU regulatory framework. If you want to enter the international market, the decision to register a company in Serbia may be suitable for the development of your business.
Serbia claims to join the European Union and NATO, and the country is actively developing the business and tourism industry. Serbia needs workers, wages are quite high, and the labor market is not overloaded.
Another pleasant addition to doing business in Serbia is the opportunity to obtain resident status by investing in a company. The conditions are relatively simple, but you get a resident card.
What does it mean? You can live in Serbia. You get more rights. Over time, you can apply for Serbian citizenship. At the same time, Serbia is planning to join the EU, and you can almost imperceptibly become a citizen of the European Union.
Registering a business in Serbia is a simple procedure for obtaining a residence permit, and the residence permit itself is a quick way to obtain Serbian citizenship.
Non-resident banking is going through tough times. In some cases, Serbia is ready to open accounts for foreign companies and even do it remotely. However, opening an account is much easier for local companies. This applies to both an ordinary local company and a branch. In some cases, the bill can go for days, rather than weeks and months, as in other jurisdictions. If you buy a ready-made company, then you receive the invoice together with the company. You should be ready to personally visit the bank to confirm your identity, or to issue a power of attorney to carry out all the procedures required by the rules.
Serbia does not automatically exchange information according to the CRS standard. Serbia does not currently exchange tax information with other countries under the OECD Unified Standard (CRS).
This way, no one will know that you have a local bank account, at least until Serbia joins the agreement. So far, she, like all countries of the world, is forced to transmit information within the framework of FATCA, which concerns only US citizens and residents.
Low maintenance costs of the company
Any business is not only the cost of creating it but also the cost of maintaining it, even if it does not generate profits yet. In some countries, costs can reach tens of thousands of euros per year. Serbia is much more economical in this sense.
Firstly, unlike offshore jurisdictions, there is no need to pay for a company renewal. Your main expenses will be renting an office and paying for an accountant.
Of course, if you are active, hire employees, etc., costs will rise. But even here there are some pleasant sides:
- Salaries in Serbia are relatively low;
- Electricity and other utilities are low;
- So a Serbian company can offer you adequate prices for its content.
Low taxes in Serbia
Regular filing of reports is one of the mandatory requirements for those who wish to open a company in Serbia. If you receive income in the country, then the tax rates will be as follows:
- The corporate tax rate is 15%.
- VAT, dividends, royalties – 20%.
Stages of obtaining a residence permit in Serbia through starting a business
The most popular corporate form in Serbia is LLC (or D.O.O. in Serbian). By setting up a business in Serbia, the owner has the right to take advantage of the additional advantage provided by the country of registration of the company – obtaining a residence permit.
It is possible to apply for a residence permit on the condition of an existing company in Serbia. Thus, the step-by-step procedure is as follows:
- Registration of a company in Serbia. Options are provided for both remote registration and a personal visit;
- Opening a corporate bank account;
- Obtaining a “White Card” (registration of the applicant’s place of residence);
- Submission of documents for a residence permit.
You will need to come to Serbia twice: the first time – to obtain a “White Card” and apply for a residence permit, and the second time – to obtain a residence permit.