Invest in the heart of the Balkans — a region ripe for expansion.
Serbia, located at the crossroads of Central and Southeast Europe, is a growing hub for businesses seeking access to the Balkan region and the European Union. With its strategic location, competitive labor costs, and favorable tax regime, Serbia offers a compelling environment for companies that want to expand their operations.
Registering a company in Serbia can help your business unlock these opportunities, but the process can be complex and time-consuming.
This guide will walk you through the steps to register a company in Serbia, highlight the benefits of establishing a business there, and explore alternatives like an Employer of Record (EOR) to simplify market entry.
The business benefits of registering your company in Serbia
Registering a company in Serbia offers numerous advantages, making it a strategic choice for businesses seeking to tap into the Balkan region and beyond.
Let’s explore the key benefits:
Business – friendly corporate laws & taxes:
Serbia has consciously worked to create a competitive tax environment. As of March 2025, corporate income tax is 15%, making it notably attractive compared to many Western European nations.
Furthermore, the Serbian government offers various tax incentives, including a ten – year tax holiday for companies that invest RSD 1 billion (approximately €8.5 million) or more into properties and employing at least 100 local workers.
Strategic trade agreements with the EU and CEFTA:
Serbia’s free trade agreements are pivotal for businesses seeking access to wider markets. The Stabilization and Association Agreement with the European Union (EU) provides preferential access to the world’s largest single market. This means reduced or eliminated tariffs on a wide range of goods, facilitating seamless trade.
Similarly, Serbia’s membership in the Central European Free Trade Agreement (CEFTA) opens doors to a regional market of millions of Southeast Europe consumers. As a result, companies in Serbia can establish a strong foothold in the Balkans and take advantage of the regional supply chains there.
By registering a company in Serbia, businesses can capitalize on these advantages — diversifying revenue streams, reducing operational costs, and gaining a competitive edge in the dynamic Balkan region and beyond.
A step-by-step guide to setting up a company in Serbia
Registering a company in Serbia involves several steps. Here’s a simplified guide:
1. Choose a business structure
To begin registering your company in Serbia, you must first select the right business structure. Understanding each option’s unique characteristics, benefits, and requirements is crucial for making an informed decision that aligns with your business goals.
Your options include:
Limited liability company (D.O.O.): This is the most popular choice for small to medium-sized enterprises, offering limited liability to its shareholders. The minimum share capital required is just RSD 100 (approximately €1). This structure provides flexibility in management and ownership, making it ideal for startups and growing businesses. Shareholders are only liable up to their contributed capital, protecting personal assets from business debts.
Joint stock company (A.D.): Suitable for larger businesses and those planning to raise capital through public offerings. This structure requires a minimum share capital of RSD 3 million and is designed for companies that intend to issue shares to the public or have multiple investors. It offers greater access to capital markets but comes with more complex reporting and governance requirements.
Branch office: This extension of a foreign company allows you to operate in Serbia without establishing a separate legal entity. While it’s faster to set up, the parent company remains fully liable for all branch activities. This option is suitable for companies testing the Serbian market before committing to a full subsidiary.
Limited partnership (K.D.): This structure allows two types of partners: general partners, who manage the business and have unlimited liability, and limited partners, who contribute capital and have liability limited to their investment. This is ideal for businesses where some partners want active involvement while others prefer passive investment.
General partnership (O.D.): Here, partners share unlimited and joint liability for the business’s debts; it does not require any minimum capital contribution. This structure is best suited for professional services or small businesses where partners want equal say in management decisions.
2. Reserve a company name
Before proceeding with registration, you must ensure that your chosen company name is unique and available. Check name availability with the Serbian Business Registers Agency (SBRA) online database.
3. Prepare required documents
Proper documentation is essential for successful company registration in Serbia. The required documents vary depending on your chosen business structure, but typically include:
Articles of Association (Statut): This foundational document outlines your company’s internal rules, management structure, decision-making processes, and operational procedures. It must specify the company’s purpose, registered office address, share capital distribution, and governance framework.
Memorandum of Association (Osnivački akt): This document records the founding members’ agreement to establish the company and their initial contributions. It includes details about founders, their capital contributions, and initial ownership percentages.
Proof of registered office address: You must provide documentation proving you have a legal address in Serbia for your company’s headquarters. This can be a lease agreement, property ownership certificate, or address usage agreement.
Founders’ identification documents: Valid passports or national ID cards for all company founders, along with certified translations if the documents are not in Serbian.
Certificate of good standing: For foreign founders, this document from their home country confirms they have no criminal record and are legally eligible to establish a business.
Bank confirmation: Proof of deposited share capital in a Serbian bank account, confirming the minimum required investment has been made.
4. Register with the SBRA
Submit documents and pay registration fees. The SBRA will review the application and, if approved, issue a Certificate of Incorporation, officially registering the company.
5. Register for taxes
After obtaining the Certificate of Incorporation, you must register the company with the tax administration within 30 days. Here, you will obtain a Tax Identification Number (TIN) — essential for all tax-related transactions in Serbia.
Serbia offers attractive tax benefits for businesses, including the competitive 15% corporate income tax rate mentioned earlier. Additionally, companies can benefit from various tax incentives such as accelerated depreciation, investment tax credits, and reduced rates for certain activities like research and development. Small businesses with annual revenues under RSD 8 million can qualify for lump-sum taxation, significantly simplifying their tax obligations. Understanding these benefits early in the registration process can help you structure your business operations to maximize tax efficiency and improve your bottom line.
6. Open a corporate bank account
You must open a corporate bank account in Serbia and deposit the required share capital, RSD100 (about €1) for LLCs.
7. Register employees
Enroll employees with the Pension and Disability Insurance Fund (PIO) and the Health Insurance Fund (RFZO).
Do these steps seem too complicated? There is a simpler way. You can bypass all the steps of registering a company, opening an account, obtaining your TIN, and registering your employees—by partnering with an EOR.
An EOR becomes your employer of record within Serbia, hiring employees and managing all your compliances on your behalf, so you incur fewer risks and expenses.
Cost of registering a business in Serbia
Understanding the costs of registering a business is crucial for planning. Here’s a breakdown costs to register a business in Serbia:
- Registration costs: RSD 6,500 (SBRA fees, notarization).
- Legal services: These differ from law firm to law firm.
- Share capital: Minimum €1 for LLCs.
- Annual maintenance: Highly variable as it depends on accounting, permit renewals, utility costs, etc.
By contrast, an EOR offers a predictable fee structure, eliminating many setup and maintenance expenses.
Visa options for starting a business in Serbia
Foreign entrepreneurs looking to start a business in Serbia have several visa options available, depending on their investment level and business plans:
Temporary residence for business purposes
This visa is designed for foreign nationals who wish to establish or manage a business in Serbia. To qualify, applicants must demonstrate they have registered a company in Serbia or have been appointed to a management position in an existing Serbian company. The initial visa is typically granted for one year and can be renewed annually.
Investment-based residence
Foreign investors who make significant capital investments in Serbia may qualify for longer-term residence permits. The investment threshold varies, but substantial investments in Serbian businesses or real estate can lead to multi-year residence permits, providing greater stability for business operations.
EU citizens and visa-free arrangements
Citizens of EU countries can enter Serbia visa-free for up to 90 days and can use this time to establish their business. However, for longer-term residence and business operations, they will still need to apply for appropriate residence permits through the Serbian authorities.
Work and residence permit combination
Foreign entrepreneurs can also obtain work permits alongside their business registration, allowing them to legally work in their own Serbian company. This is particularly useful for business owners who plan to be actively involved in day-to-day operations.
The visa application process typically requires proof of accommodation, financial resources, health insurance, and clean criminal background checks. Processing times vary but generally take 30-60 days for most visa types.
What is the difference between standard company registration and expanding through an EOR?
When expanding to Serbia, businesses can choose between standard company registration or partnering with an Employer of Record (EOR).
Here’s a quick comparison:
Aspect | Standard registration | EOR |
Purpose | Establish a legal entity in Serbia | Operate without setting up a local entity |
Control | Full control over operations | EOR manages compliance and payroll |
Cost | High setup and maintenance costs | Low, predictable fees |
Compliance | Ongoing responsibility | Handled by the EOR |
Setup time | Weeks to months | Days to weeks |
Scalability | Requires entity restructuring | Easily scalable |
An EOR is an ideal solution for businesses seeking quick market entry without the complexities of entity setup.
How EOR simplifies Serbia company registration
An EOR like Multiplier significantly streamlines market entry into Serbia by acting as the legal employer. You needn’t spend time or money on establishing a local entity; you also simplify hiring, compliance, and HR administration.
An EOR offers a wide range of benefits:
Streamlined setup
Your business can begin hiring immediately instead of navigating Serbian business registration laws. You bypass the need to deal with local bureaucratic procedures and save valuable time and resources.
Payroll and tax management:
The EOR handles all payroll processing and tax deductions, filings, and contributions to Serbian social security funds, so your business fully complies with local labor and tax regulations.
Cost savings
By eliminating the need to establish a local entity, your business avoids substantial expenses like legal fees, registration fees, and ongoing administrative costs.
EORs allow businesses to quickly scale their workforce in Serbia without the constraints of a local entity. This flexibility is particularly valuable for companies that need to increase or decrease their staff based on fluctuating demands.
By partnering with an EOR like Multiplier, businesses can focus on strategic growth in Serbia while leaving local employment and compliance complexities to experienced professionals. This approach enables a faster, more efficient, and less risky market entry. But for companies where company registration is a must, here is a detailed breakdown of how to register a company in Serbia efficiently.
Cost comparison: standard registration vs. EOR
Here’s a side-by-side comparison of the costs of standard company registration versus EOR.
Cost category | Standard registration | EOR |
Setup costs | High | Low |
Compliance | Ongoing, complex | Included |
Accounting | Ongoing, highly variable | Included |
Payroll | Ongoing, separate fees | Included |
Time to market | Weeks to months | Days to weeks |
As we can see, an EOR provides cost predictability and reduces administrative burdens, making it a viable alternative for businesses seeking an efficient market entry into Serbia.
Take the stress out of your Serbia expansion with Multiplier
Expanding into Serbia shouldn’t be a source of stress. Multiplier, a leading EOR, makes it easy for you to hire and grow your teams here by managing all compliance, payroll, and HR responsibilities, freeing you to concentrate on your core business.
Multiplier isn’t just your regular EOR either! We’ll be there every step of the way, offering you a vast range of benefits by:
- Drafting employment contracts that fully comply with local regulations, covering aspects like working hours, leave entitlements, and termination procedures.
- Handling background checks and ensuring all necessary documentation is in order.
- Managing the onboarding process, including setting up payroll, providing necessary equipment, and introducing new hires to company policies and procedures.
- Navigating the nuances of Serbian employment customs, crafting positive experiences for employees.
- Calculating and processing salaries in Serbian dinars, taking into account all applicable taxes and social security contributions
Excited to get started on your Serbia expansion? Book a Demo with Multiplier today and take the first step toward hassle-free global growth.
