Register a Company with a Corporate Bank Account in Serbia

Establishing a business in Serbia offers a strategic advantage for investors, thanks to Serbia’s business-friendly environment, appealing tax incentives, and reliable banking options. With access to both European and non-European markets, Serbia is an ideal gateway for if you have a company aiming for international reach. This comprehensive guide will walk you through each essential step in forming a company in Serbia, from selecting the right legal structure to opening a corporate bank account.

Whether you’re a small startup or a larger firm, Serbia provides the flexibility and support needed to thrive. We can help you get started and complete the whole process of company formation in Serbia with a corporate account. We also have an additional service of opening personal bank accounts, among other services, to assist you. To get the help of our network of experts and professionals, contact us, and you can find out more in a free consultation.

Why Register a Company and Open a Corporate Bank Account in Serbia?

Company registration in Serbia provides an ideal avenue for investors seeking strategic advantages in a welcoming business environment. Serbia offers competitive tax policies, efficient legal frameworks, and distinctive banking options, making it a top choice for foreign businesses. Although Serbia isn’t an EU member, it benefits from established trade and customs agreements with the EU and non-EU countries alike. This unique combination makes company formation in Serbia especially valuable if you are looking to expand into European markets and tap into additional global trade networks.

Serbia’s tax incentives are particularly appealing. The corporate tax rate is set at a low of 15%, and there are additional incentives for specific industries, such as manufacturing and IT. Moreover, Serbia offers incentives for hiring local employees and for investments in developing regions within the country. These tax advantages add another layer of appeal for foreign investors who want to establish a company in Serbia and capitalize on lower operating costs.

Once a company is registered, the next step involves setting up a corporate bank account. Serbia’s banking sector supports multi-currency accounts, enabling businesses to transact in EUR, USD, and other currencies. This feature is beneficial for companies handling international clients or suppliers, as it simplifies transactions without requiring additional accounts in foreign countries. Furthermore, Serbia’s secure banking laws protect deposits and support privacy, allowing businesses to safeguard their funds under a reliable legal framework.

The compliance procedures in Serbia are designed to be straightforward for non-residents. Unlike many jurisdictions, Serbia does not impose residency requirements on company directors or shareholders, making it easier for foreign companies to establish a presence. By working with a local advisor, foreign investors can navigate these procedures smoothly, avoiding common pitfalls and ensuring their company registration process is efficient.

Choosing the Right Legal Form for Your Company in Serbia

Selecting the right legal structure is crucial for effective company formation in Serbia, as each form has distinct requirements and implications for tax, liability, and operational flexibility. The options include:

• Limited Liability Company (LLC): Known locally as D.o.o., the LLC is the preferred choice for foreign investors due to its limited liability protection. Shareholders’ liability is limited to their capital investment, ensuring personal assets remain protected. The LLC structure is highly flexible, permitting full foreign ownership, and has a minimal share capital requirement (as low as 1 EUR, though contributions above 1,000 EUR are recommended for establishing credibility). This setup allows businesses to streamline operations without unnecessary local ownership complexities, making it ideal for small- to medium-sized ventures.
• Joint Stock Company (JSC): This structure suits larger businesses that may seek to raise capital publicly. A JSC can issue shares to the public, making it suitable for companies with substantial share capital and growth ambitions. The minimum capital requirement is typically higher than for an LLC, and there are stringent regulations around reporting, shareholder rights, and board management. For foreign companies with established operations, a JSC provides an avenue for robust financing and expansion in Serbia.
• Partnerships and Branch Offices: Partnerships are generally used for small businesses looking for collaborative management structures. However, they come with shared liability, meaning partners are individually liable for the business’s debts. Branch offices are more common for foreign companies wanting a presence in Serbia without forming a separate entity. A branch office can operate under the parent company’s name and benefit from Serbia’s favorable business environment. Yet, it must adhere to the same regulatory standards as other legal entities in Serbia. This option provides market access while limiting operational complexities.

Advantages of Limited Liability Companies (LLCs)

For many foreign investors, the LLC structure is the optimal choice due to its straightforward management and legal protections. An LLC offers limited liability for its members, ensuring that shareholders are only responsible for their contributions and protecting personal assets from corporate liabilities. In addition, modest share capital requirements and lack of restrictions on hiring foreign employees make LLCs practical for foreign businesses looking to establish a long-term presence in Serbia without high initial costs. This setup is particularly beneficial for enterprises needing specialized personnel from abroad, allowing the company to operate more freely in recruitment and management practices.

Serbia’s adaptable LLC policies strengthen its appeal. The LLC gives investors a simplified framework and tax advantages. Thus, the LLC is a practical choice for foreign-owned companies as it combines legal protections, low capital, and efficient administration.

Step-by-Step Company Registration Process

The company registration process in Serbia follows a structured approach to ensure every legal requirement is met. Here’s an expanded breakdown of each step, providing details on how our team supports you:

Each phase of the company registration in Serbia process is designed to establish a compliant, legally recognized business. Our seasoned experts provide personalized assistance, so each document is carefully reviewed. As a result, we minimize delays and support seamless operations for foreign companies looking to enter the Serbian market.

Document Requirements for Company Registration and Corporate Bank Account

The registration procedure in Serbia mandates a detailed document submission process. Below is a list of essential documentation:

• Proof of identity for all founders: Required documents include notarized passport or ID copies, and a power of attorney if you are a non-resident and you want a representative to deal with any issues you may face in Serbia.
• Memorandum of Association: This document outlines share capital, the roles of founders, and the company’s overall governance.
• Business Address: Every company in Serbia must have a registered business address. A virtual office is enough for registration purposes, but a physical office is a better choice if you are going to operate locally.
• Additional Documents for Non-Residents: Non-residents may need apostilled copies of certain legal documents to validate their company registration under Serbian jurisdiction.

The documentation required for company formation in Serbia can be extensive, especially for foreign companies. Our service includes assistance with translating, notarizing, and apostilling documents, ensuring all compliance needs are met.

Corporate Bank Account Opening in Serbia

Setting up a Serbian bank account is essential; it offers banking services like multi-currency accounts in EUR, USD, and RSD, which aid foreign companies operating internationally. Here’s a breakdown:

1. Choosing a Bank and Account Type: Serbian banks offer various account types to cater to different business needs. Basic business accounts provide essential transaction functions, while specialized accounts support international wire transfers, multi-currency holdings, and online banking. Selecting a bank often depends on the volume and nature of transactions, with some banks offering added features for companies engaging in frequent cross-border transactions.
2. Document Preparation for Bank Submission: Opening a corporate bank account requires a considerable set of documents. You will need the memorandum of association, proof of company registration, identity verification of authorized signatories, and, if necessary, a power of attorney allowing a representative to deal with account creation. Banks will carefully assess these documents to see if all company details are accurate and comply with legal requirements.
3. Bank Fees and Compliance Requirements: Bank fees and compliance standards vary across institutions. Transparency is a priority, and many banks outline their costs upfront, helping businesses anticipate expenses. Foreign-owned companies often face additional compliance checks, such as background verification of directors and shareholders, to meet anti-money laundering (AML) regulations. Due diligence measures are routine and can affect the speed of account approval, especially for foreign companies.

We connect clients with reliable banking partners in Serbia, simplifying the bank account opening process. Working with these institutions, we streamline compliance and document verification for smooth access to Serbian financial services.

As soon as company registration is completed, you will need to take some post-registration steps required for compliance and smooth day-to-day operations in Serbia:

• Digital Signatures: Legally necessary for e-filing with Serbian tax authorities, digital signatures ensure document authenticity and improve filing security and efficiency.
• Virtual or Physical Office: While a virtual office meets registration requirements, a physical location can improve credibility and facilitate in-person meetings with local clients, banks, and suppliers. This can be especially beneficial for businesses looking to establish a tangible presence within Serbia.
• Tax Compliance: Serbian companies are required to submit annual tax returns and, if applicable, VAT reports. Businesses must register when exceeding the VAT income threshold. Partnering with a tax service or accountant facilitates compliance and deadlines, aiding foreign companies in managing Serbian tax requirements.

These additional steps help reinforce operational stability in Serbia, ensuring that foreign companies can efficiently meet local legal and tax obligations.

Benefits of Using Our Service for Registration and Account Setup

Our service streamlines the process of company formation in Serbia for foreign investors, offering key benefits:

• Step-by-Step Assistance: We support clients through each phase, from initial planning to the setup of a corporate bank account, ensuring clarity and ease throughout the company registration journey.
• Documentation and Compliance: Our team manages all critical paperwork, including the power of attorney and founding act, ensuring that every document is prepared according to Serbian legal standards.
• Banking Partner Recommendations: With our network, we connect clients to banks experienced with foreign companies, easing the setup process and minimizing compliance obstacles. 

Our organized approach ensures a supportive partnership, putting in place a legal and operational structure that meets your unique business requirements so you can focus on expansion.