Frequently Asked Questions
Your Company
What type of company should I chose?
The most common and often best option is an LLC (Limited Liability Company), but it depends on your business goals and needs. For some small businesses and freelancers, an entrepreneur company might be a better option and offer lower taxation and a more simple business solution.
How will you know what type of company to choose? You don‘t have to worry, as you can be sure we will carefully evaluate your business and recommend the best option.
What documents do I need to open the company?
You only need to provide us with a copy of your passport.
Do I need to have a local citizen as partner in my company?
No.
Do I need to be a Serbian resident to set up a company? Do I need to have any kind of references?
No.
Can I have more than 1 companies on my name?
Yes, you can have as many as you want on your name.
What is the minimum Share Capital for an LLC company in Serbia?
The minimum capital for LLC is 100 dinars, which is less than 1 EURO.
How long does it take to set up a company in Serbia?
3-5 business days.
Can I establish a company without coming to Serbia?
If you cannot come to Serbia, we have an option to open your company without you visiting Serbia. Please contact us and we will let you know about the steps you should take.
Is it easy to close a company in Serbia?
Yes, but it is important to close correctly. It is often the case that clients come to us who closed their company years ago, but they had a hidden debt which they didn‘t know about, and now they have to pay big fines and interest on that debt that accumulated during all these years.
Banking
What is tax rate for LLC company in Serbia?
The income tax is 15%, and the dividend tax is also 15%.
Can I get paid in foreign currency by my clients from abroad? Am I obliged to keep only Serbian currency in my company’s bank accounts?
Yes, you can be paid and hold any currency that the bank you choose supports. You are not obligated to keep Serbian currency in your bank account.
In what currency do I pay my taxes?
In Serbian Dinar, which is easy to exchange for any world currency.
Can a Serbian company have business accounts on digital internet banks, such as Paypal or Payoneer?
Yes, you can use any popular digital bank, but you are required to provide statements from these accounts.
Taxation
What are tax rates for LLC in Serbia?
Income tax is 15%, and dividend tax is also 15%.
What are tax rates for entrepreneur in Serbia?
There are two types of entrepreneur companies in Serbia. The first type is a flat–rate–tax entrepreneur, where you get assigned a fixed monthly tax, which is usually around 150–250 EUR monthly, depending on your company location and business activity.
The second type is an entrepreneur who keeps books and has an accountant. The income tax rate in this case is 10%.
What is the VAT rates in Serbia
Standard VAT rate in Serbia is 20%. Certain goods and services (e.g. basic food, bottled water, newspapers, drugs, computers etc.) are subject to lower VAT rate (i.e. 8%).
Residence and work permit
Do you need temporary residence in order to obtain work permit?
Yes, you need to obtain temporary residence first in order to apply for a work permit.