Incorporate a Company in Serbia with a Corporate Bank Account

Serbia is actively developing and its economy is on the rise! The country has created a pro-business environment that attracts a lot of entrepreneurs and investors here, and they flock to take advantage of all the perks: excellent banking, a straightforward company registration procedure, low taxes compared to other European countries, and so on. We will help you get a fully functional business in Serbia in a matter of 7 days! Suppose you want to keep a local office (or even production facilities) in Serbia. In that case, it may be interesting for you to find out that the utility bills in Serbia are among the lowest in Europe as electricity costs almost nothing! What is more, you can register your company in a free economic zone to get the most benefits. Sounds interesting?

If you need more detailed information, we would like to invite you to our portal where you can read a longer article on opening a company and bank account in Serbia remotely. You will find a lot of other posts on Serbia as the destination is in high demand! Do not hesitate to explore our portal and read about personal and corporate banking in different countries, business across the globe, investment opportunities, the best means of asset protection, proven tax optimization schemes, and much more. Book a free session with our specialist to discuss your business needs and find the best jurisdiction, company form, or bank to open a corporate account. We will help you solve any administrative matters without much hassle on your part!

Legal Form

You can choose one of the following company legal forms in Serbia:

• Joint-stock company
• Sole proprietor
• Limited liability company
• Limited partnership company
• Partnership company
• Representative office of a foreign company
• Branch office of a non-resident legal entity
• Branch office of a local legal entity

Limited Liability Company

Here are the main advantages of this legal form:

• You can hire foreign employees without any restrictions
• This is the most popular legal form in Serbia
• The company members have limited liability

Sole Proprietor

While the sole proprietor has unlimited liability (that is, is liable for his/her debts with all personal property), which is a disadvantage, this legal form has its benefits:

• The accounting requirements are less stringent than in the case of ordinary companies
• The registration procedure is rapid and simple

Important Considerations

Here are some essential details to take care of before you register a company in Serbia:

• Activities it will carry out
• Company name
• Memorandum of Association
• Legal address in Serbia

Let’s take a more detailed look at them.

Company Name

Here are the main recommendations for choosing a name for your Serbian company:

• Suggest a unique name that does not violate any intellectual property rights.
• Make sure the name sounds polite to your potential partners and target audience.
• You can opt for a name in Serbian (in Latin or Cyrillic characters)
• If you want to use the name of a certain country (including Serbia) in the company name, you will need to get permission to do so in the relevant country.

Activities

• Certain activities require obtaining a license or any other approval.
• When you register a legal entity in Serbia, you will have to choose the principal activity it will engage in. You are not required to add any secondary ones, but you have the possibility to do so.
• Additional codes can be registered if you have the required licenses/permits.
• The principal activity is the one that will bring you the lion’s share of profit.
• You cannot pick two principal activities, so you will have to choose one. As for other activities you may engage in, you can provide them in the appendix.

Legal Address

• You can rent a physical or a virtual office in Serbia.
• If you can afford a physical office, it is recommended to choose this option (even though the virtual office provides the same opportunities). If your aim is stability and business expansion in Serbia, establishing economic substance is the best choice you can make.

Memorandum of Association

This is the most crucial document for establishing a limited liability company in Serbia. It is made up by the founders and then notarized.

The main points to be included in the Memorandum:

• Company’s address
• Main details about its members (shareholders)
• Primary economic activity code and associated fields in which the company will work
• Company’s name in Serbia
• Powers/responsibilities of the appointed director
• Contributions to be made by each Serbian company member
• Registered capital. You can start with 1 euro if you want to, but we recommend contributing a more significant amount to avoid problems in the future.

Documents Required for Company Registration

We will help you avoid most pitfalls typical of those who decide to establish a company in Serbia on their own (in most cases, they spend more money than they would pay for our services).

Here is a minimum list of documents you will need to submit:

• A standard application required for company establishment and its inclusion in the Taxpayer Registry
• Memorandum of Association
• IDs for all company founders (or constituent documents if the founder is a legal entity)
• A bank certificate to confirm payment of all the registration fees

You can register a Serbian company remotely or by visiting the country in person. The first option requires providing a notarized power of attorney for our designated representative to act on-site.

Opening a Corporate Bank Account

Take selecting a bank and preparing the documents seriously – or you may be turned down.

Here are the documents you will need to submit:

• Articles of Association translated into Serbian and notarized
• A standard application form
• A Certificate of Good Standing
• All managers, directors, and beneficiaries are required to provide personal IDs (copies)
• An extract from the registry
• A description of the company’s field of activity
• Incumbency Certificate for the company manager
• An apostilled power of attorney will be needed to help you with account opening.

Conclusion

If you are interested in Serbian company formation, feel free to click on the above link to discover more details or contact our expert for professional advice. We will seamlessly guide you through all nuances, and you will get a fully functional business in no time!