Registration (establishment) of a company in 4 steps
Starting a Business in Serbia:
The first and most crucial step when starting a business in Serbia is registering your company with the APR (Business Registers Agency). Before beginning the registration process, it’s essential to understand the different legal forms of business entities and select the one that best fits your needs. The registration procedure will vary depending on the form you choose.
In the following sections, we will guide you through the steps involved in opening a company. While the process is generally straightforward, there is no one-size-fits-all answer to the question, “How do I start a company?” We strongly recommend consulting experts for any uncertainties to avoid potential mistakes that could impact your business down the line.
Our team of professionals is available to answer all your questions and assist you through every step of the registration process, ensuring a smooth and stress-free experience.
1. Choosing the Right Legal Form for Your Business: Entrepreneur (PR) or Limited Liability Company (LLC)
The first step in starting a company is selecting the appropriate legal form—either as an Entrepreneur (PR) or a Limited Liability Company (LLC). Since these two options differ significantly, it’s important to review their key distinctions before making your decision. Choose the one that aligns best with your business model and long-term goals. Below are some critical differences to consider:
- Establishment costs
- Liability for the company’s obligations
- Tax obligations
- Administrative requirements, including bookkeeping services
Additionally, it’s vital to analyze the current market conditions and understand both the needs of the market and your competition. For more information, check out our article: “Opening a company – how to start the establishment process”.
2. Company registration in APR (Business Registers Agency)
Once you’ve chosen the legal form for your business, several important decisions need to follow:
- Choosing a company name
- Selecting the activity code
- Determining the company address
- Preparing the Articles of Incorporation (for LLCs)
After completing these steps, the next phase is registering your company with the APR.
The registration process differs for Entrepreneurs (PR) and Limited Liability Companies (LLCs), requiring different sets of documentation. Gathering the necessary documents is a critical step, especially for LLCs, which involve a more complex process and require more paperwork.
Once you have collected all the documentation, you can submit a registration request to the Commercial Register. The APR has up to five days to review your application and make a decision. If your application is incomplete or contains errors, the APR will issue a decision to reject it. Unfortunately, rejected applications cannot be corrected and must be resubmitted and paid for again.
With well-prepared documentation, once your request is approved, you will receive a Decision on Establishment. Our team of experts can guide you through this entire process smoothly, helping you establish your company in Serbia with ease.
PR Zobo Group 011 also offers services for establishing companies for both residents and non-residents, including assistance with work and long-term visa applications (Visa D) in Serbia.
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3. Steps after establishment (opening) of the company
a) Opening a Business Bank Account
After registering your company, the next step is opening a business account at a bank. This account will be essential for managing all business transactions. Banks often offer various packages tailored to the needs of entrepreneurs, so it’s important to review the available options. Pay attention to the fees for payment transaction services and the monthly account maintenance charges. Since e-banking is crucial for modern businesses, check if the bank offers this service as well.
When opening a business account, make sure to bring the following documentation:
- Request for opening a payment account
- Client statement acknowledging receipt of the deposit insurance brochure
- Decision on registration in the commercial register
- Identity card or passport
- OP representative form
- Signature specimen form
- For LLCs (DOO): Extract from the relevant register of legal entity founders
b) Application for taxes
After registration in APR, you need to report your company to the tax administration within the legal deadline in order to register you as a taxpayer. Registration at the branch office of your municipality also implies registration for the obligation to pay value added tax and profit tax. If you have employees, you must register the company for the social and health insurance of employees.
Entrepreneurs and LLCs submit a tax return, in the case of entrepreneurs you have to decide on the taxation model.
c) Qualified electronic signature
A digital or qualified electronic signature (certificate) allows for secure document signing, submission of tax returns, business registration, and more. To obtain a digital signature, you must submit a request to one of the registered certificate issuers. While the process is straightforward for local residents, it can be more complex for foreign nationals. However, PR Zobo Group offers assistance with the preparation and submission of the necessary documentation, simplifying the process for non-residents.
d) Seal for entrepreneur and LLC
After completing the previous steps, you have the option to create a company seal. However, under the Law on Business Companies (2017), the obligation to use a seal in business operations has been abolished. While you may still choose to create one, there is no legal requirement to use it in your business.
4. Get started with your business
Starting a business can be a complex process, but breaking it down into key steps makes it much more manageable. The foundation of a successful, long-term business lies in careful planning and thorough research from the very beginning.
PR Zobo Group 011 offers comprehensive company establishment services for residents and provides full support throughout the entire process. Since the process is more complex for foreign nationals, we also specialize in assisting non-residents with company formation, as well as work and residence visa (Visa D) applications in Serbia.
For the service of opening (founding) an entrepreneur, visit the following page:
OPENING (FOUNDING) AN ENTREPRENEUR
For LLC opening (establishment) service, please visit the following page: