SERBIA’S NEW LAW ON FOREIGNERS

Law on Foreigners (Official Gazette of RS, No. 24/2018) (hereinafter “the Law”) came into effect on April 3, 2018, though its application is postponed by 6 months, i.e. it shall start to be applied on October 3, 2018.
The Law is aligned with EU Directives which regulate this area, and the novelty is that all issues which the old law did not regulate, but which were applied in practice, have been now regulated.

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HOW TO INCORPORATE YOUR STARTUP BUSINESS IN SERBIA

The best way to go further in developing your ideas is actually to start your business and to incorporate the company. The most common company legal form for startups is Limited Liability Company (hereinafter: “LLC”). LLC may be established by one or more domestic or foreign natural persons or legal entities with minimum share capital in the amount of 100 RSD, which is less than 1 EUR. Process of incorporation is fast, and company can be incorporated within 5 working days. Founder of the company can also be a director of the company and he/she can perform activities without being employed and without any salary which can reduce obligations related to the expenses, tax, etc. Nowadays most of the business activities can be performed online and working at home, therefore various virtual office services can be used as business address and office space.

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TRANSFER OF SHARE IN A LIMITED LIABILITY COMPANY

Transfer of ownership of share in a limited liability company is regulated by the provisions of the Law on Companies (“Official Gazette of RS”, No. 36/2011, 99/2011, 83/2014- other law and 5/2015) (hereinafter referred to as the “Law”).

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HOW TO DO BUSINESS IN THE REPUBLIC OF SERBIA

Business entities can do business and be organized in form of: (i) Entrepreneur, (ii) General Partnership, (iii) Limited Partnership, (iv) Limited Liability Company, (v) Joint Stock Company, (vi) Representative Office of a foreign company, (vii) Branch Office of a company or Branch office of a foreign company, (viii) Cooperative and Cooperative Federation.

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WORK PERMIT FOR FOREIGN CITIZENS IN THE REPUBLIC OF SERBIA

The Employment of Foreign citizens in the Republic of Serbia is regulated by the Law on Employment of Foreign Citizens (“Off. Gazette of RS” No. 128/14), (hereinafter referred to as the “Law”) and the Rulebook on work permits for employment (“Off. Gazette of RS” No. 94 / 15).

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