News on Corporate and
Immigration Legislation of Serbia
News on Corporate and
Immigration Legislation of Serbia
The Republic of Serbia
The Republic of Serbia – or simply Serbia – is a landlocked Balkan state. However, even with the lack of access to the sea, this country is among the most attractive and rapidly developing regions in Europe. Business people from the EU, the USA, China, and Russia invest large sums of money into Serbian economy.
In Serbia, you will find ski resorts and hot springs but also goldmines, car tyre factories, and heavy machinery plants. The recent years saw a large number of foreign investors coming to Serbia to buy out existing enterprises and build new ones.
The largest investor to the country is the European Union. Serbia is trading actively with the EU countries. In addition, China is establishing serious presence in Serbia planning to bring billions of dollars to the country.
Serbia offers inviting conditions for company registration, permanent resident status acquisition, and asset protection.
Acquiring legal residency in Serbia is attractive because the taxes in the country are not as high as in other European countries, first of all. Secondly, Serbia is an official candidate for the EU membership. It has been negotiating accession to the Union since 2014 and it intends to become an EU member in the near future.
Foreign investors come to Serbia for the following main reasons:
- The country’s favorable geographic position;
- Low business company maintenance costs;
- Transparent legislation and lucrative taxation system;
- Stable political situation;
- Efficient and friendly relationships with everybody: the EU, the USA, China, and Russia;
- Investments into Serbia allow killing two birds with one stone: establishing a profitable business there and acquiring legal residency in a will-be EU member state.
Taxes in Serbia
Among other things, business people from other countries find Serbian taxation system very attractive. It is transparent and easy to understand and besides, the corporate tax in Serbia is among the lowest in Europe.
The corporate tax rate is 15%.
The dividend tax rate is the same – 15%.
The income tax rate depends on the amount of personal annual income and it varies between 0% and 15%. Tax deductions are also available.
The social security tax for corporations is 17.9%.
The social security tax for employees is 19.9%.
The VAT is 20%.
Serbia has signed over fifty double taxation avoidance treaties. These will keep you from overpaying even if you disinvest your money from the country.
Serbia enjoys rather high rankings with different international agencies that rate countries by different criteria and for different purposes.
For instance, Fitch assigns a BB+ rating to Serbia and finds the country’s prospects stable. Moody’s, in its turn, gives Serbia a Ba3 rating.
Serbia ranks 48th in the Doing Business index of 2019, 45th in the Social Progress index, and 66th in the Human Development index. These are relatively high ranks and for the ease of doing business in particular, Serbia outperforms such countries as Hungary, Croatia, Bulgaria, and Greece, among others.
Banking services in Serbia
The Serbian banking system is stable. The banks in the country have good experience in working with various financial instruments and they are knowledgeable about commercial interaction.
It is pleasing to know that even though Serbia is not an EU or euro zone member state yet, the deposits in its banks are insured for up to 50,000 EUR. In other words, even if the bank you put money into becomes insolvent, there is a guarantee that you will have up to 50,000 EUR back anyway. Besides, you can diversify your financial assets and make deposits with several different banks.
Serbian residents do not have any trouble opening bank accounts in the country. It is also relatively easy to open an account for a local company or a Serbian branch of an international company even if it is owned by foreign citizens. Corporate accounts for local companies can even be opened remotely.
With the right approach and with our assistance it is also possible to set up a non-resident corporate bank account in Serbia.
It is also quite realistic to open a personal account for a non-resident but a personal visit to the bank will be required in this case.
Residency in Serbia
You can become a legal resident in Serbia and acquire a permanent residence permit in the country. You can do it via investing into Serbian real estate, establishing a business company there, or opening a foreign company branch in Serbia.
You will also be pleased to know that currently the Serbian legislation does not specify any minimum amount of investment required for obtaining residency in the country. You can buy a small apartment in a little town for 10,000 EUR and this purchase will give you legal grounds to apply for a permanent residence permit. Naturally, a piece of high-quality real property in the center of Belgrade will cost much more than that but it will cost much less than a similar piece of property in most other European capitals.
Our services in Serbia
Please apply for a consultation by writing to firstname.lastname@example.org and we will tell you how to open a bank account in Serbia (personal or corporate), register a new company there, buy an existing company, or establish a Serbian branch of a foreign company.
We can also advise you on the matters of asset protection available with Serbian Associations and Private Charitable Foundations.
Apply for a free consultation on selecting the type of a bank account in Serbia straight away: email@example.com.
We will also gladly help you perform the following tasks:
- Register a business company in Serbia on a personal visit to the country or from home.
- Purchase a ready-made company in Serbia.
- Register an offshore company branch in Serbia and open a corporate account for it in a local bank.
- Open a personal or a corporate bank account both for local and for foreign companies.
- Register a Serbian Association.
- Register a Serbian Private Charitable Foundation for your personal purposes.
- Acquire a permanent residence permit in Serbia via investing into business or purchasing real estate in the country.
- Obtain a Serbia visa.
- And many other similar things.
You can find much more information on our portal about company formation in Serbia, doing business in this country, and the opportunities it offers for assets protection and wealth growth.
We provide the full range of services from company registration to its continuous maintenance. If you would like to ask us any questions related in Serbia in a certain way, please contact us without hesitation at firstname.lastname@example.org. We will be happy to talk to you!