HOW DO I OPEN A COMPANY IN SERBIA?
If you are currently in the phase of considering starting a business in Serbia and thinking of where and how to start the process of establishing a company, then you are at the right place.
The fact is that there are big decisions in front of you such as:
- Which kind of legal entity form to choose ?
- How to make a registration and start the process of establishing a company?
- How much does the entire process of establishing a company cost?
- Does my legal entity classification cover all necessary options in the long run?
- Can I establish a company without arriving in Serbia?
- Which accounting company to choose to help me with the process?
And many more questions that can arise in the very process of establishing a company that we shall describe below.
TYPE OF BUSINESS ENTITIES YOU CAN OPEN IN SERBIA
According to the Companies law of the Republic of Serbia, there are several types of legal forms that you can use in order to start a business in Serbia:
- An entrepreneur
- A limited liability company
- A partnership company
- A limited partnership company
- A joint-stock company
And those mentioned above are major ones. Also, there are couple of additional legal forms that you can establish:
- A branch office
- Representative office
In next chapter we will describe the characteristics of most used legal forms . We will present you the differences so that you can make a proper decision that will be aligned with your business needs.
AN ENTREPRENEUR COMPANY TYPE
An entrepreneur company type is actually extension of a person that is formed through registration in the Business register agency. This company type is set up for persons to perform a business activity and make a profit .
One of the main characteristics of this company type is that a person who forms legal entity is responsible for company activities with privately owned assets.
A LIMITED LIABILITY COMPANY (D.O.O)
A limited liability company (LLC) is a company type which enables you to have one or more founders. By forming an LLC company (D.O.O) every member has a share in the share capital of the company.
The share capital of the LLC is the sum of all the shares brought by the founders that can be either money or non-money share.
The minimal amount of share capital for forming an LLC is 100 RSD which equals 1 EUR/USD.
One of the biggest characteristic of LLC is that the members of the LLC are responsible only in the height of their share or to the height of paid or brought share. This means that in opposit to the entrepreneur company type, LLC owners are not responsible for the commitment with their own assets.
A JOINT-STOCK COMPANY
A joint-stock company is a type of company or legal person whose share capital consists of stocks. The share capital is established and divided into the stock of nominal value so that the sum of all the stocks represents the value of share capital.
The joint-stock company or JSC is set up by joining one or more founders. It is founded to perform activities and can be set up by a physical or a legal person, or domestic or foreign citizens. Before the joint-stock company is registered, the shareholders who set up the company must pay or bring their shares in the amount of 25% of share capital. The smallest value of the share capital of the joint-stock company can not less than 3 000 000 RSD..
A BRANCH OFFICE
A branch office represent a legal entity of a foreign company through which foreign company (called as mother company) does its business in the Republic of Serbia and by the Law as separate entity.
It has its registered core activity, but can also practice other legally permitted activities that does not have to be the same as mother company activities.
The branch office can have its legal representative. The branch office does not have the status of the legal entity in Serbia, but practices activities and forwards in the name and the account of the founders. The founder of the branch office is a company that is responsible and directs the branch’s business. The foreign company is responsible for all the commitments made during the business. When it comes to taxes, the branch office is considered as a domestic tax resident.
A REPRESENTATIVE OFFICE
The representative office represents the separate organizational part of the mother company in Serbia.
The subsidiary is not considered as a legal entity, does not do business as the mother company does.
There are restrictions on the subsidiary’s work and that is representative office can do the regular activities of the mother company. This means that it can not place or sell goods on the market, or offer its services in the domestic market. The subsidiary can only conclude businesses that are connected with their mother company.
WHO WE ARE AND HOW WE CAN HELP YOU OPEN A COMPANY IN SERBIA?
IDEAL Računovodstvo d.o.o (VAT number: 111425713 ) is a Belgrade based company specialized in process of company foundation, bookkeeping and tax advisory services.
“IDEAL Računovodstvo” is a company that gather group of 8 highly skilled people in different areas such as:
New Company Set up and bank account opening
Accounting services
Payroll
Virtual office address
WOULD YOU LIKE TO HAVE COST ESTIMATION FOR ESTABLISHING A COMPANY IN SERBIA?
We would be happy to guide you through the whole process. Our team that is consist of tax, accounting and legal experts is here to assist you.
Fill the form below and we shall provide you with precise information.
Send us a short description of your future business and we shall get back to you within one working day with detailed proposal.
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