If you’re thinking of doing business in Serbia, there are a few things you should know. Doing business in Serbia is a great way to get involved in the country’s thriving economy. When it comes to setting up a business in Serbia, there are a few key things to keep in mind. First and foremost, you’ll need to choose the right legal structure for your company. There are a number of options available:
1. limited liability company;
2. joint stock company;
3. branch/representative office;
4. general and limited partnerships;
5. sole proprietors;
6. trusts and other fiduciary entities;
7. public companies and public utility companies.
There are many opportunities for businesses of all sizes, and the process of setting up a company is relatively straightforward. The appropriate license obtainment is needed for the business activities. This is necessary for activities such as energy, trade, transport, and so on. It can be applied through the Serbian Chamber of Commerce.
Serbian government is highly supportive of businesses, providing a range of incentives and benefits to those looking to invest in the country. With all this in mind, Serbia is an extremely attractive destination for businesses of all types and sizes.
When it comes to e-commerce, Serbia has seen a steady growth in recent years. This is due in part to the increasing number of internet users in the country, as well as the growing number of businesses that are adopting e-commerce solutions. E-commerce offers a number of benefits for businesses, including the ability to reach a wider audience, increased sales, and improved customer service.
One of the most significant advantages for businesses is the 14 free zones that are located throughout Serbia. These zones offer a number of benefits and incentives, including tax breaks and customs duty exemptions.
Serbia has never been easier, thanks to the country’s network of free zones. Foreign goods are considered to not be in the customs territory of the Republic of Serbia provided they have not been placed in free circulation or some other customs procedure and are not being used in the free zone under conditions other than those established by the customs regulations. This makes it an ideal location for businesses to operate in and take advantage of Serbia’s central location in the Balkans.
One of the key benefits is the existence of free zones and free warehouses. These zones allow businesses to import and export goods without having to go through customs clearance, making the process much simpler and more efficient.
Additionally, businesses are not required to submit a declaration for goods entering or remaining in the free zone, though the customs authority may still inspect these goods.
This makes it an ideal location for businesses looking to streamline their operations and reduce costs.
Doing business in a free zone has many advantages, one of which is that Value Added Tax (VAT) is not paid on goods entering the free zone. This can save businesses a lot of money on transportation and other services related to entering and circulating goods in the free zone. Another advantage is that businesses are entitled to deduction of input VAT if they were to procure those goods or services for the purposes of conducting business activities outside of the free zone.
The tax rate in Serbia is 15%. Withholding tax is a tax that must be withheld from certain types of payments made to non-residents. As a foreign citizen, you have the same rights and obligations relating to work and employment as Serbian citizens. There are few fulfilments certain legal requirements in order to be eligible for a work permit.
With its low taxes, skilled workforce and favourable location, Serbia is an increasingly popular destination for foreign investors. Drop us a line, we can help with all related questions in Serbia.