Serbia

Serbia has grown into one of the premier investment location in Central and Eastern Europe. One of the key attractions of Serbian market is certainly favorable and business-friendly tax regime and low cost of Serbian workforce. Among the most interesting tax incentives belong corporate income tax holiday, corporate income tax credits and carrying forward of losses.

In 2012 European Union has granted Serbia membership candidate status as an initial step on the road to EU membership. The official language is Serbian and the currency is Serbian dinar (RSD). Among other types of corporations, the most popular corporate legal form used and set up in Serbia is Društvo sa Ograničenom Odgovornošću – D.O.O. (Limited Liability Company).

Legal formDruštvo sa Ograničenom Odgovornošću – D.O.O.
LegislationBased on Civil law
Foundation timeOnce received all required documents from a client, the incorporation of the new OOD takes usually 3 weeks and documents are delivered within 5 weeks.
ShareholdersMinimum required: 1
Form: physical person/corporate body (both possible)
Nationality: Any (Serbian nationality not required)
DirectorsMinimum required: 1
Form: physical person/corporate body (both possible)
Nationality: Any (Serbian nationality not required)
Share capitalMinimum paid up share capital 100 RSD; higher capital recommended
Bearer shares
TaxesCorporate income tax rate: 10%
VAT: rates: 18% and 8%. Registration obligatory when the taxable income in previous 12 months exceeds 4,000,000 RSD.
Withholding tax: payment of dividends, interests and royalties are taxed at 20% (rates can be reduced thanks to the use of DDTs)
Others: Extensive network of Double Tax Treaties
AccountancyFiling of accounts required
AuditAudit is obligatory when certain conditions are met.
Anonymity and confidentialityThe companies register is publicly accessible
OtherRegistered office: Must be maintained in Serbia
Currency: Serbian dinar (RSD)

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