COMPANY REGISTRATION IN SERBIA
If you decide to start your own business, first of all, you have to decide in which form the company you want to register will be. Our accounting firm provides tax and legal advice for both domestic and foreign clients. Together with that, we offer professional assistance related to the services of registering new business in Serbia.
In addition, we will describe in detail our services in order to bring you closer the profession we are dealing with and to facilitate the understanding of certain procedures and terms necessary for company registration in Serbia.
Legal forms of companies that exist in Serbia
According to the Company Law there are several forms of organizing legal entities, which are:
- a limited liability company,
- partnership company,
- a limited partnership,
- joint stock company.
Of all listed, the most common forms of organization of companies in Serbia are an entrepreneur and a limited liability company. If you are still thinking is it better to register LLC or enterpreneur in Serbia, our team can help you to understand prons and cons that relates to each legal form. In the following topics, the most attention will be dedicated to formation of limited liability company.
Documentation needed for business registration
In order to register as entrepreneur, the procedure is quite simple. It is only necessary to fill out the registration application, to attach a certified photocopy of the ID or passport, proof of payment of the fee and the approval of the authority to perform the activity, if necessary. The registration application can be submitted personally by founder, authorized person or attorney, or our company may submit the application for you.
Something more complex procedure relates to the establishment of a limited liability company. As we have previously written, it is a legal entity founded by one or more individual or legal entities, with the aim of performing an activity under one name. LLC may also be established by foreign citizens of Serbia. In order to register LLC, the following documentation is required:
- registration application,
- a photocopy of the identity card or passport of a individual (if it is legal entity, it is attached an excerpt from the Registry, in which that legal entity was previously registered)
- The Founding Act (Decision or Contract), with the certified signatures of all founders,
- confirmation from the bank on the payment of a monetary deposit on a temporary account,
- decision on appointment of a representative, if he is not determined by the founding act,
- certified signature of the representative,
- proof of payment of the fee for the establishment,
- proof of paid fee for registration and publication of the founding act.
A limited liability company can be one-member and multi-member, and it is established by the Founding Act. For the one-member company Act is the Decision of the establishment, and for the multi-member Act is the Founding Agreement.The Founding Act must be certified by the public notary.
We can write to you the Founding Act and help to accelerate the whole process of company formation.
How to register a company in Serbia?
The basic procedure for company registration in Serbia is the same for all legal entities. The only difference is in the documentation that is collected, which depends of the legal form that is registered. In other words, the activities that are carried out during registering entrepreneurs and LLC are the same, but the specific procedure is different. We can meet you in order that without errors and difficulties you register your company very quickly, by doing the whole process for you.
The whole process is carried out in several steps:
1. Registration in the Business Registers Agency
Company registration in Belgrade begins with enrollment in the Business Registers Agency and submission of a registration application, the Founding Decision is awaiting a maximum of 5 working days. If the application has defects or is not well filled, the Business Registers Agency will bring a Decision that says that it is rejected and the re-registration is charged additionally.
2. Stamp of the company
When you get a Decision of the Registration, you need to create a stamp. Although since 1. October 2017 seal has been abolished to companies and is not required for payment transactions, many institutions still require its use.
3. Opening an account in a bank
Before opening a bank account, ask yourself which bank is most suitable and whose services most satisfy the needs of your business. To open a business account, it is necessary to submit the authenticated documentation: OP form, APR decision, card of deposited signatures and the similarly.
If you are not sure or you do not have much time to go round, we will recommend to you a bank that will justify your trust in their financial services. Also, with power of attorney we can file complete documentation for opening a business account for you.
4. Registration in the Tax Administration
After registering the foundation in the Business Registers Agency, making the stamp and opening a business account, it is necessary to submit a tax return to the Tax Administration within the legal deadline or send it electronically. The legal deadline for submit a tax return is 15 days from the date of establishment, or from the date on which the Decision was approved.
5. Electronic signature
You need digital signature (electronic signature) to electronically sign, submit, and authenticate electronic documents. Domestic individuals can be issued free of charge in the Ministry of Interior through a valid ID card. For foreign individuals, a different and more elaborate procedure is needed to obtain an electronic signature. We offer the opportunity for you to prepare and submit all necessary documentation in order to get your digital signature as soon as possible.
Important steps before company registration in Serbia
Before registering a company, there are three important steps you need to make and which ones
will directly affect the future of your business.
# First step
This step concerns the activity you will deal with, because it is very important, for example, due to the obligation to register the turnover through the fiscal cash register.
#The second step
This step is related to the collection of the necessary documentation, because without this the registration procedure can not be initiated. The documentation must be certified exclusively with the public notary or notary.
# The third step
The last, but not the least important step, concerns your costs. It is important to anticipate the future volume of business, due to all the costs and taxes that you must pay, especially to the state. This is mostly related to the question of how much annual turnover will be made and whether you will enter the VAT system or not.
Also, if you plan to have employees, it is very important that you regularly pay them all taxes and contributions.
Do you need a virtual office?
Virtual offices are an increasingly popular and very efficient concept of business, by which saves money for all related costs associated with renting business premises. If your business is not related to a specific location, and if you want your headquarters to be in the center of Belgrade, we offer you a solution.
We offer virtual office services, where you get an address where you can register a company by renting our business premises. At our address your mail will arrive, which we will receive and afterward forward for you.
Accounting services, calculation of salaries and tax consulting
Company HLB T&M Consulting carries out all the business of firm registration and submits complete documentation to the competent institutions for you. Also, the basis of our business is accounting services and payroll services in Serbia that we provide to foreign and domestic clients. Contact our tax and legal advisors for more information, so that they can meet you as soon as possible.