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GLOBAL INFO

Serbia

COUNTRY:

Serbia

QUESTION:

ANSWER:

1.      What are the main company forms in your country?

1.     Joint Stock Company (a.d.),

2.     Limited Liability Company (d.o.o.),

3.     Limited Partnership (k.d.),

4.     General Partnership (o.d.).

5.      Which is the most preferred company form by foreign investors?

The most common company type is a Limited Liability Company (LLC).

6.      What are the basic capital requirements of this company? (minimum amounts, types of capital, deadline of capital contribution)

Share and Contribution Requirements – A member’s contribution to a Limited Liability Company may be made in money or in kind including past, but not future labor or services. Minimum Capital – RSD 100  (approximately 1 eur). The shares are freely transferable between the partners. The deadline for providing capital contribution is 2 years.

7.      What are the basic rules of shareholders liability for company debts in this company?

Shareholders of the LLC shall pay their cash contribution or provide their in–kind contribution to the company. If they complied with this obligation, their personal liability for the debts of the company is exceptional, only in cases of fraudulent shareholder activity.

8.      What are the basic management requirements for this company? (only natural persons, or nationals can be managers etc.)

Management of a business organization can be arranged as a one-tier or two-tier system.In one-tier system company organs are shareholders and one or more directors. In two-tier system company organs are shareholders, supervisory board and one or more directors. Direstors can be only natural persons, regardless to nationality.

9.      How long does the registration procedure of this company take?

The procedure takes cca. 3-5 business days.

10.   What are the main costs of formation of this company in local currency?

RSD 50.000 + translation costs

11.   What is the average attorney’s fee of the formation of this company in local currency?

RSD 40.000-60.000 depending on complexity

12.   What are the basic publicity requirements of this company (filing of company changes, financial reports, etc.)

The company formation and every modification shall be published in the official register and you can find its detais online. The company shall file its financial report, to the tax authority on a yearly basis, which is a public document. The financial report is prepared by the accountant of the company.

13.   What are the main auditor requirements?

Companies are obliged to appoint auditor, if both of the following conditions are met:

-        -  the annual net income exceeds EUR 2.500.000 in local currency;

-        - the average number of people employed by the undertaking exceeds 50 people;