Everything you need to know about company registration in Serbia — LLC formation, costs, tax system, banking, and residence permits. Written for English-speaking foreigners and expats.
Serbia is rapidly becoming one of Europe's most attractive destinations for company formation — combining low taxes, a strategic location, and fast bureaucracy.
Belgrade sits at the crossroads of Central Europe, the Balkans, and the Middle East. Within a 2-hour flight radius: Vienna, Istanbul, Frankfurt, and Dubai. Serbia's road and rail corridors (Pan-European Corridor X) connect you to EU markets at low logistics cost.
EU Accession in ProgressSerbia offers a 15% flat corporate income tax with no minimum profit level. Dividend tax is 15%. There are significant R&D incentives (200% deduction for qualifying research expenses) and IT companies benefit from special salary tax regimes. Capital gains on shares held longer than 10 years are tax-exempt.
No Wealth TaxSerbia produces ~20,000 university graduates per year, with a strong engineering and IT tradition. English proficiency is high among the working-age population. Average gross salary is approximately 900–1,100 EUR/month, making hiring extremely cost-effective compared to EU countries.
Strong IT EcosystemSerbia is an official EU candidate country actively harmonising its laws with EU standards. Property rights are well-protected, contracts are enforceable, and the legal system is based on civil law (Continental European tradition). Dispute resolution through Serbian courts is available in Serbian and English.
EBRD-Backed ReformsMonthly cost of living in Belgrade is 30–50% lower than in major EU capitals. A quality office space in central Belgrade runs 12–18 EUR/m²/month. Co-working spaces are available from 150 EUR/month. Utility costs, restaurant meals, and transport are all significantly cheaper than Western Europe.
Belgrade in Top 50 Cheapest CitiesThe APR (Agency for Business Registers) offers online company registration. For foreigners, the process involves a notary appointment plus APR filing — typically completed in 1–2 weeks with all documents ready. EXT handles the entire process in English, including document preparation and translation.
Full English SupportSerbia has two main business structures relevant to foreigners. The vast majority of international entrepreneurs register a DOO (Društvo s Ograničenom Odgovornošću) — the Serbian equivalent of an LLC.
| Feature | DOO (LLC)Recommended | Preduzetnik (Sole Prop.) |
|---|---|---|
| Liability | Limited — personal assets protected | Unlimited — personal liability for debts |
| Minimum Share Capital | 100 RSD (~1 EUR) | None required |
| Owners / Shareholders | 1–50 members (can be 100% foreign) | Single owner only |
| Corporate Tax | 15% on company profit | 10% flat tax option or standard rate |
| Dividend Withdrawal | 15% withholding tax on dividends | No dividend concept — profit is personal income |
| Accounting Requirements | Monthly bookkeeping required | Simplified bookkeeping possible |
| Hiring Employees | Yes, full employment contracts | Yes |
| Residence Permit Eligibility | Yes — as director/founder | Yes — as registered proprietor |
| Suitable for EU VAT Registration | Yes | Yes, if VAT threshold exceeded |
| Registration Cost | ~200–350 EUR total | ~50–100 EUR total |
| Registration Time | 5–7 business days | 3–5 business days |
| Best For | Foreign investors, agencies, startups, import/export | Freelancers with low income, simple sole-trader activity |
EXT Recommendation: For most foreign entrepreneurs, the DOO is the better choice. It separates your personal finances from business liabilities, provides cleaner profit distribution, and is more credible with international banks and clients. If you are a freelancer earning under 6 million RSD/year (~50,000 EUR), a Preduzetnik with the flat-tax option may be more cost-efficient.
Follow these steps in order. EXT can handle steps 2 through 8 on your behalf — you only need to appear for the notary signing (step 4).
Decide between a DOO (LLC) or Preduzetnik (sole proprietorship) — see the comparison table above. At the same time, identify your primary business activity using the APR's official classification system (KD codes, equivalent to NACE). Your KD code determines which licences you may need later and affects VAT obligations.
Common KD codes for foreigners: 62.01 (Custom computer programming), 73.11 (Advertising agencies), 46.xx (Wholesale trade), 47.xx (Retail), 68.xx (Real estate), 55.xx (Hotels/accommodation).
Your company name must be unique in Serbia. Search the APR's online register at apr.gov.rs to verify availability. The name must be in Serbian language (Cyrillic or Latin script), though you can register an English trade name as a secondary designation. Names cannot include words like "Serbia," "National," or "Official" without government permission.
Consider reserving your name online before your documents are ready. APR allows online name reservation valid for 60 days.
As a foreign founder, you will need the following documents to register a DOO in Serbia:
Required Documents
If registering a multi-member company, each member must provide a passport translation. EXT prepares all document templates in English and Serbian simultaneously.
The Memorandum of Association (Osnivacki akt) must be signed in front of a certified Serbian notary public (javni belezhnik). This is the one step that typically requires your physical presence in Serbia, although Power of Attorney is possible in some cases.
The notary verifies your identity, witnesses your signature, and certarises the document. Bring your original passport. The appointment takes approximately 30 minutes. Notary fees are set by regulation and depend on share capital value.
File the complete application package with the Agency for Business Registers (Agencija za Privredne Registre — APR). Applications can be submitted online via the APR portal or in person at APR offices in Belgrade (Brankova 25), Novi Sad, Nis, or other regional centres. The online submission is faster.
Pay the APR registration fee (approximately 5,600 RSD for standard processing, or 11,200 RSD for accelerated 24-hour service). EXT files the APR application on your behalf as part of our company registration package.
APR reviews the application and issues a Registration Certificate (Resenje o registraciji) within 5 business days for standard applications or 24 hours for the express track. The certificate contains your MB (Maticni Broj — company registration number) and confirms your company's legal existence.
Once issued, your company appears in the public APR register. Your MB is used for all business transactions, contracts, and tax filings. The APR certificate is issued in Serbian — EXT provides a certified English translation if needed for international use.
The Tax Administration of Serbia (Poreska Uprava) automatically assigns a PIB (Poreski Identifikacioni Broj — Tax ID) to newly registered companies, usually within 24–48 hours of APR registration. The PIB must appear on all invoices, tax filings, and official correspondence.
If your company will exceed the VAT threshold (8,000,000 RSD / ~65,000 EUR annual turnover), you must also register for PDV (VAT) at the local Tax Administration branch. VAT registration can be done voluntarily even below the threshold — this is beneficial if your clients are VAT-registered businesses who can reclaim the VAT.
A Serbian corporate bank account is required by law within 15 days of company registration. All business payments must flow through this account. Serbian banks that are accessible for foreign-owned companies include Banca Intesa (Intesa Sanpaolo group), Raiffeisen Bank, UniCredit Bank Srbija, OTP Bank Serbia, and Erste Bank.
Requirements vary by bank but typically include: APR registration certificate, PIB, director's passport, and proof of registered address. Account opening takes 5–10 business days. Some banks require the director to appear in person; others accept Power of Attorney. IBAN and SWIFT/BIC codes are provided immediately upon account activation.
If you plan to hire employees or register yourself as an employed director, you must file with the Central Register of Mandatory Social Insurance (CROSO) before the employee's first working day. Contributions cover health insurance, pension, and unemployment insurance.
Employer contribution rate: 10.75% + 11.5% + 0.75% = 23% on top of gross salary. Employee contribution: 14% + 5.75% + 0.75% = 19.9% withheld from gross. Minimum gross salary in Serbia (2026) is approximately 47,000 RSD/month (~380 EUR). EXT handles payroll registration and monthly payroll processing.
Serbian law requires all DOO companies to maintain regular bookkeeping and file monthly/quarterly tax returns regardless of activity level. Even a dormant company must file a zero-activity annual balance sheet. Using a certified accountant (or outsourced accounting firm like EXT) is not optional — it is legally required for proper compliance.
Your accountant will handle: monthly VAT filings (if registered), quarterly corporate tax prepayments, monthly payroll processing, annual balance sheet, and statistical reporting to the Statistics Office. EXT's accounting service starts from 4,900 RSD/month (~40 EUR) for inactive or low-activity companies.
All fees for registering and running a DOO in Serbia. Figures are approximate and may vary based on your specific situation.
Registering a company in Serbia entitles you to apply for a temporary residence permit (privremeni boravak) based on business activity. This is one of the most straightforward pathways to Serbian residency for non-EU nationals.
Complete company registration at APR. Receive your MB and APR certificate. This is your basis for the permit application.
Passport, APR certificate, proof of address in Serbia, health insurance proof, clean criminal record certificate from home country.
Submit application at the Ministry of Interior (MUP) office in Belgrade or the city where your company is registered. Processing: 30–60 days.
1-year permit, renewable annually. After 5 years of continuous residence, you can apply for permanent residency.
Important: EU/EEA citizens do not need a residence permit to live and work in Serbia — they can stay indefinitely. Citizens of countries with visa-free agreements (Turkey, Russia, UAE, etc.) can stay 30–90 days per entry. If you need longer-term residency, the business-activity permit is the cleanest option. Read our full Residence Permit guide.
Serbia's tax framework is straightforward and competitive. Here are the key rates every foreign business owner must know.
Serbia has active double taxation avoidance agreements (DTAs) with over 60 countries including: Germany, Austria, France, Netherlands, UK, USA, Turkey, Russia, UAE, China, India, Canada, Australia, and all EU member states. DTAs typically reduce withholding tax on dividends to 5–10%.
If your Serbian company transacts with a related foreign entity (e.g., a holding company in another country), Serbian transfer pricing rules apply. Transactions must be priced at arm's length and documented annually. Penalties for non-compliance can be significant — EXT can assist with transfer pricing documentation.
Serbia offers a 10-year corporate tax holiday for investments exceeding 1 billion RSD (~8 million EUR) that create at least 100 new jobs. Additional incentives apply for IT companies (special salary tax regime for qualified researchers), free trade zones (tax-free operations within designated zones), and R&D activities (200% deduction).
A corporate bank account is mandatory within 15 days of company registration. Here is what to expect from the main Serbian banks.
Practical tip: Schedule your bank appointment within the first week after receiving your APR certificate. The 15-day legal deadline is strictly enforced. If you are not physically present in Serbia, a Power of Attorney can allow EXT to open the account on your behalf at some banks — confirm directly with the bank in advance.
Every Serbian company — regardless of activity level — is required to maintain bookkeeping records and file periodic tax returns. Unlike some EU countries, there is no simplified regime for very small companies; full accounting rules apply from day one.
eFaktura (e-invoice) system: Since 2023, all Serbian companies are required to issue and receive invoices through the government's eFaktura digital system. Setup and monthly management of eFaktura is included in EXT's accounting service. Non-compliance results in fines starting from 50,000 RSD.
Yes, absolutely. Serbia imposes no restrictions on foreign ownership of companies. A single foreign national can be the sole shareholder and sole director of a Serbian DOO. There is no requirement to have a local Serbian partner, local co-founder, or local director. This is one of Serbia's major advantages compared to some other Balkan countries.
The APR processes standard registrations within 5 business days. An express track is available for approximately double the fee, with a 24-hour turnaround. However, the total time from "I want to register" to "fully operational" is typically 2–3 weeks, accounting for document preparation, notary appointment, bank account opening, and tax ID assignment. EXT has streamlined this process for English-speaking clients to approximately 10 business days end-to-end.
The founding act (Osnivacki akt) must be signed before a Serbian notary, which normally requires your physical presence. However, it is possible to grant a Power of Attorney to a local representative (such as EXT) who can sign on your behalf after the PoA is notarised in your home country and apostilled. Bank account opening requirements vary by bank — some accept PoA, others require the director in person. We recommend visiting Belgrade for 2–3 days if possible to complete everything in one trip.
No, Serbia is not currently an EU member state. It is an official EU candidate country with active accession negotiations that began in 2014. EU membership is expected in the 2027–2030 timeframe based on current progress. However, Serbia does have a Stabilisation and Association Agreement (SAA) with the EU providing for significant trade liberalisation, and is a member of CEFTA (Central European Free Trade Agreement) covering the Western Balkans. Products manufactured in Serbia can benefit from preferential tariffs when exported to the EU.
The minimum share capital for a DOO is just 100 RSD (less than 1 EUR). The minimum practical cost to register a company including notary, APR fees, and document preparation is approximately 250–350 EUR if done yourself, or 450–600 EUR if using a service like EXT (which includes everything in English). Annual running costs for an inactive company are approximately 500–900 EUR (accounting + registered address). There is no requirement to deposit share capital into a dedicated account before registration.
Yes. A Serbian DOO can issue invoices in any currency to clients in any country. Export of services (such as IT, consulting, marketing) is VAT-exempt under Serbian law (0% VAT on B2B service exports). International wire transfers, SWIFT payments, and online payment processors (Stripe, PayPal, Revolut Business) are all accessible through Serbian banks. Serbia's currency (RSD) is freely convertible.
As a director or founder of a registered Serbian company, you can apply for a temporary residence permit (privremeni boravak) based on business activity at the Ministry of Interior (MUP). Required documents include your APR registration certificate, a valid passport, proof of address in Serbia, health insurance, and a clean criminal record from your home country. The permit is initially valid for 1 year and renewable. EXT provides full residence permit application support. Read our detailed residence permit guide.
The standard path: the company pays 15% corporate income tax on profits. When distributing profits as dividends to shareholders, a 15% dividend withholding tax applies. This means effective double taxation at the company level of approximately 27.75% (15% CIT + 15% of remaining 85% = 12.75% WHT). However, if Serbia has a DTA with your country of residence, the withholding rate is often reduced to 5–10%. Alternatively, paying yourself a salary avoids dividend tax but triggers income tax and social contributions.
Yes. A DOO can be voluntarily liquidated (Dobrovoljna likvidacija) by its shareholders. The process involves passing a liquidation decision, publishing a notice in the Official Gazette (60-day creditor notification period), settling all debts and tax obligations, filing a final financial statement, and applying to APR for deregistration. The total process takes approximately 3–6 months. EXT can handle the complete liquidation process. Alternatively, a company can be sold or transferred to a new owner without liquidation.
It is technically possible using a Power of Attorney. The PoA must be notarised in your home country, apostilled, and certified-translated into Serbian. EXT can then represent you for the notary signing, APR filing, and bank account opening (at banks that accept PoA). However, for the residence permit application, you must appear in person at MUP. We recommend that clients visit Belgrade at least once during the process to establish local banking relationships and sign the founding documents directly.
Most business activities require only APR registration. However, certain regulated sectors require additional licences: financial services and brokerage (NBS licence), banking (NBS banking licence), insurance (NBS insurance licence), healthcare (Ministry of Health), education (Ministry of Education), construction contracting (Chamber of Commerce registration), real estate agency (Ministry of Trade), food production and restaurants (Sanitary inspection). EXT can advise on licence requirements for your specific activity code.
Serbia stands out for: (1) lower corporate tax (15%) vs. Montenegro (9% but higher personal tax burden) vs. North Macedonia (10%) vs. Bulgaria (10%) vs. Romania (16%); (2) faster registration (5 days) vs. Bosnia (~30 days) vs. Albania (~10 days); (3) stronger banking infrastructure with more European banking groups present; (4) Belgrade's superior quality of life and infrastructure vs. most Balkan capitals; (5) 100% foreign ownership without restrictions. The main advantage of Montenegro and North Macedonia is even lower tax rates, but both have smaller domestic markets and less developed business ecosystems.
EXT Technologies provides full English-language company registration support in Serbia. We handle every step from document preparation to bank account opening — you focus on your business.