Services
Company registration
- choose a business entity -
Here, you will find a full range of business services. Consolidate all your business activities in one place!
* * * Registering a company prior to arriving in Serbia * * *
Entering new market is not short-term decision. It requires careful consideration of all relevant factors thorough research and analysis. Each type of business entities has specific structures and therefore advantages. Their registration at Business Register also differs. The most convenient way to make the first step of setting up business in Serbia is to consult business professionals. We would be eager to provide necessary information, to hear your concerns and clear your doubts.
Let us be part of your business strategy.
For more detailed information about procedure, documentation and duration of company incorporation process in Serbia
Company Formation
From the initial idea to the final registration, we provide assistance in every aspect of the process that establishes the company.
SP/ LTD(LLC)
Company formation service enables our clients to register their LLC or ENTR to quickly and efficiently start their business.
-
Choice of legal formation: Choice of business model of LLC or entrepreneurs, and advantages and disadvantages.
-
Type of taxation: Flat rate, self-taxation, VAT (Yes or No).
-
Selection of activity code: Fiscal cash register, work permit (Yes or No).
-
Preparation of documentation: Foundation Act.
-
APR registration: Filling out the application and submitting the request.
-
Tax administration: Submission of tax returns - deadline 15 days.
Representative Office or
Branches
If you want to be present in this region and to expand your business into Serbian market our Agency will provide you with all the necessary information and support for the registration of your representative office or branch(s) in Serbia. This enables you to establish a stable and legally recognized presence in the region.
-
Documentation preparation
-
APR registration: Filling out the application and submitting the request.
-
Residency and work permits
-
Tax administration: Submission of tax returns.
Associations
We provide comprehensive services for establishing various types of associations, cultural, artistic, sports, etc. Regardless of the type of association you want to establish, our agency will support you in the association registration process.
-
Consultations: Registration procedure
-
Preparation of documentation:
Foundation Act, association statute, founding assembly, and appointment decision. -
APR registration: Filling out the application and submitting the request.
Virtual office
With the virtual office service, you have an opportunity to register your company and to receive mail at our address.
-
Company registration address
-
Address for receiving mail
-
Mail management service: Mail forwarding daily, weekly, bi-weekly, or monthly.
Residency and work permits
If you have decided to remain in Serbia longer, you need a residency or work permit. Our agency can help you to facilitate the process of acquiring:
-
Temporary residency permits
-
Work permits
Change of Business Date
A step forward in the development of your company may require changing certain information or the structure of your company. We can quickly and easily change company data at APR with minimal involvement on your part.
Update:
-
Company name
-
Head Office
-
Representatives
-
Activity
-
And etc.
Company dissolution
If you want to bring your business to an end, we can assist in the process of a formal closure:
-
Liquidations / dissolution of entrepreneurs from the Business Register
-
Liquidations / dissolution of legal entities from the Business Register
SP
Paushal
About Paushal
Paushal is a special type of Sole Proprietorship, which is distinguished by a simplified form of management and taxation. This is a convenient form for entrepreneurs who start a business and want to minimize administrative costs. However, it is important to take into account all the features and requirements in order to effectively manage the company and avoid possible risks.
Requirements
-
Business Activities - Paushal Sole Proprietorship can undertake only certain business activities. Some business activities are not allowed. These activities are prescribed by law.
-
Annual income - There is a limit for annual income of 6.000.000 dinars (this is about 51,300 euros). When annual limit is exceeded Sole Proprietorship must be re-registered as Knigash.
Pros
-
Money Withdrawal - Owner can take money form company account without limit and without providing documents.
-
Simplified accounting - Annual balance sheet is not required.
Cons
-
Amount of basic taxes - every month Paushal Sole Proprietorship has to pay the basic amount of taxes, regardless of whether month was successful or not. If monthly expenses are higher than income, the basic amount of taxes will remain the same.
-
Personal liability - In case of financial difficulties, the owners are personally liable for the company's debts.
-
Business Activities Limitation - It is not allowed to perform activities that are not allowed for Paushal (for example, trade).
-
VAT - Being in the VAT system has its pros and cons. Paushal cannot be in the VAT system, i.e. it cannot use tax deductions for VAT paid on incoming goods and services.
Important - Tax Inspection
Tax administration periodically check all types of business entities to ensure compliance with tax laws and regulations. Paushal Sole Proprietorships are not excluded from tax check. When tax department analyzed Paushal compliance with law, they check:
-
The amount of annual income - Tax department will check whether company has exceed annual income limit.
-
Performed transactions
-
Tax department will check whether company has performed transactions that are not allowed to Paushal.
-
-
Registration and payment of additional taxes
-
Tax department will check whether company has submitted and paid additional taxes. For some transactions, Sole Proprietorship must calculate additional taxes and submit certain documents to tax department, voluntarily.
-
Each Paushal Sole Proprietorship must have a company account, keep accounting books for Paushal and, if necessary, submit self-taxation documents. If the accounting in the company is not clear and accurate or at worst case does not exist, the Tax Office will assume:
-
that entrepreneur are trying to hide turnover.
-
that entrepreneur worked something that is not allowed to Paushal.
-
that entrepreneur tried to avoid additional taxes.
- Monthly book keeping
- Submission of tax returns
- Creation of personnel documentation
- Cooperation with the Tax Administration
40
from
euro/
month
Company Formation
Sole proprietorship
- Knigash -
65
euro
About Knigash
Knjgash is a form of Sole Proprietorship, which has no restrictions in terms of the activities it can perform. This enables greater business flexibility compared to Paushal type of Sole Proprietorship. Knigash can start new business project in all activities while Paushal has certain limitations. Paushal cannot perform certain activities, ie. those that are not allowed to him by law. As a result, Paushal has less opportunities to earn additional income.
Knigash has more realistic taxations. He pays taxes on realized income, while for Paushal the basic amount of tax is prescribed by the Tax Administration.
Every Knigash has the opportunity to choose whether he wants:
-
to pay himself a salary
-
not to pay himself a salary
If Knigash decides to pay his salary, he determines the amount of salary he wants to pay, and thus the amount of payroll tax.
Pros
-
Lower fines
Fines are significantly lower for entrepreneurs compared to LLCs. -
Lower tax burden
Detailed bookkeeping enables accurate insight into earned income, which results in more accurate taxation. There is no income tax if company has loss. -
There are no business restrictions
Unlike Paushal, Knigash can perform all activities that are allowed by law, which allows them to have greater flexibility in terms of performing economic activities. As a result, there is a greater opportunity to earn income. -
Withdrawal of money
Sole Proprietorship Knigash can take money from the company's account for personal needs. -
Employment of relatives
Sole Proprietorship have the right to hire relatives without establishing an employment relationship in the following cases:
1. They can work occasionally during the day and exclusively at the headquarters.
2. They can work during training of old crafts.
3. They can work instead of owner, when the owner uses annual leave in accordance with the law. -
Closing the business
Compared to a LLC, the procedure for closing Sole Proprietorship is significantly simplified.
Cons
-
Personal responsibility
In case of financial difficulties, the owners are personally responsible for all debts of the business. -
Detailed accounting
Unlike Paushal entrepreneurs, Knigash has to keep detailed bookkeeping and to submit annual financial reports.
SP
Knigash
LTD
(LLC)
LTD (LLC)
Company formation
About LTD (LLC)
A limited liability company (LLC) is a legal form of an enterprise that enables economic activity with limited liability for the company's obligations. DOO is the ideal form for small and medium-sized companies. The owners of the company are only responsible for the obligations of the company to the extent of their share in the company. This makes LLCs the best choice for those who want to protect their personal assets while enjoying the management flexibility that this business model provides. The company must have a Founding Capital, which is divided into shares. The minimum amount of founding capital varies from country to country. In Serbia, the minimum amount of basic capital for an LLC is about 1 euro. For founders who intend to apply for a temporary residence and work permit based on their position in the company, the minimum amount of founding capital is EUR 250. For certain specific activities, such as financial leasing, different minimum amounts of founding capital are prescribed. Each shareholder is entitled to a share of the company's profits in accordance with his share. LLC can have one or more directors who manage the business of the company. Directors can also be shareholders, but this is not mandatory. They represent the company to third parties, make business decisions and are responsible for managing day-to-day operations. The owner has the option to be the director.
Pros
-
Limited liability
Owners are liable only to the extent of their share in the company, which provides significant protection for personal assets.
Cons
-
Higher penalties
Penalties are significantly higher for an LLC compared to a Sole Proprietorship. -
Cash withdrawal
Compared to SP, LLC owners have less flexibility in withdrawing cash for personal use. -
Employment of relatives
DOO does not have the right to employ relatives without establishing an employment relationship. -
Closure of LLC
Compared to a SP, the procedure for closing a LLC is more complex.
100
from
euro/
month
Representative office
Representative office
Company formation
Representative office
The Representative Office can perform preparatory and preliminary actions in order to conclude legal affairs, but it cannot perform business activities. The Representative Office does not have the status of a legal entity and the founding company is responsible for its obligations to third parties. The Representative Office is limited to performing only preparatory and preliminary actions, which means that it cannot directly trade in goods or services. Also, Representative Offices cannot open their own bank accounts, but use non-resident bank accounts of the founding company. They do not submit annual financial reports to the Business Registers or reports to the National Bank of Serbia because they are considered non-residents.
150
from
euro/
month
Branch
Branch
Company formation
Branch
A branch is an organizational unit that operates in Serbia, but does not have the status of a legal entity. It functions in the name and on behalf of the parent company and can perform business activities in accordance with the laws of the Republic of Serbia. A branch may have different predominant activities from those performed by the founding company, and may have different representatives. The founding company can open one or more branches in Serbia. The business name of the branch must include an indication that it is a branch, with the possibility of using a name in addition to the name of the founding company. The branch operates through resident bank accounts and can receive loans and credits from the founding company. In order to carry out international transactions, branch must have a tax clearance certificate. Bookkeeping and reporting are mandatory according to the Law on Accounting and the Law on Foreign Exchange Operations, including VAT registration if the turnover exceeds RSD 8,000,000.
300
from
euro/
month
Accounting
Here, you can find all kind of bookkeeping and accounting services.
Bookkeeping
Accounting services are crucial for the proper functioning of a business and the fulfillment of legal obligations. Depending on the needs of your company, you can opt for individual bookkeeping services or a complete package of bookkeeping services. Each of the packages can be adapted to the wishes and requirements of the client.
-
Keeping business books: Recording of all transactions, such as income, expenses, payments, etc.
-
Preparation of financial reports: Preparation of balance sheet, income statement, cash flow report, and report on capital changes.
-
Tax bookkeeping: Monitoring and calculation of taxes, such as profit tax, VAT, employee income tax, and other tax obligations.
-
Payroll: Salary and payroll tax calculations, and submission of tax returns.
Calculations
Depending on your needs, we perform the following types of calculations:
-
wages, salaries, benefits and other personal income
-
value added tax - VAT
-
corporate income tax
-
withholding tax
-
taxes and contributions from self-employment
-
lease of movable and immovable property
-
other types of calculations
Tax consulting
Gain a broader insight into the opportunities defined by the law that you can apply to optimize your business.
-
Tax planning - choosing a taxation system
-
Optimization and Compliance
-
Tax incentives
-
Communication support with tax authorities
Accounting packages
The bookkeeping package is a customized offer of bookkeeping services that are grouped together to provide comprehensive support in keeping business financial records.
By choosing the bookkeeping package, you get complete bookkeeping services for the company:
-
Posting transactions: Bookkeeping services for the recording of all financial transactions, including income, expenses, payments, etc.
-
Tax monitoring: Accounting services include monitoring of tax obligations, preparation and submission of tax returns, (profit taxes, value added tax (VAT), income tax, and etc.).
-
Preparation of financial statements: Accounting services for the preparation and compilation of financial statements such as balance sheets, final accounts, and cash flow statements. These reports provide an overview of the financial position and performance of the business.
-
Legal Compliance: Accounting services ensure that business entities properly follow legal regulations related to financial reporting and tax payments.
-
Consulting: Accounting advisory services on financial strategies, tax plans and cost optimization help businesses achieve their goals.
-
Financial performance analysis: Accounting services for analyzing financial statements help business owners better understand their operations, and identify possible improvements, so that they can make the correct business decisions.