Serbia has become an increasingly attractive destination for IT companies looking to establish a presence in Eastern Europe. With its strategic location, straightforward company registration process, and business-friendly environment, Serbia offers numerous advantages for gamedev studios, fintech ventures, and software development companies from the CIS region.

Why Consider Serbia for Your IT Business?

Serbia provides several compelling benefits for technology companies:

• Strategic location between Eastern Europe and the EU
• Relatively simple company formation procedures
• Minimal capital requirements
• Flexibility for foreign ownership and management
• No requirement for Serbian citizens in management positions
• Growing tech ecosystem

Business Entity Options in Serbia

Serbia’s legal framework recognises several types of business entities:

• General partnership company
• Limited partnership company
• Joint-stock company
• Limited liability company (D.O.O.)

The Limited Liability Company (D.O.O. – “društvo sa ograničenom odgovornošću”) is by far the most common choice for international IT businesses entering the Serbian market. Its popularity stems from the straightforward governance structure, limited liability protection, and relatively simple registration process.

Step-by-Step Formation Process for a D.O.O.

Pre-Registration Planning

Before initiating formal registration, you’ll need to:

1. Select a unique company name (can be reserved for 60 days)
2. Determine the ownership structure (up to 50 shareholders allowed)
3. Choose a registered address in Serbia
4. Appoint a managing director (can be a non-Serbian national)
5. Define your main business activities
6. Prepare to deposit the minimum share capital (RSD 100, approximately €1)
7. Select a Serbian bank for your company account
8. Engage an accountant for financial compliance

Required Documentation

To register your D.O.O., prepare these essential documents:

• Articles and Memorandum of Association
• Identification documents for all shareholders
• Registration certificates for any founding legal entities
• OP form with certified signature of the company representative
• Proof of minimum capital deposit
• Decision regarding the company representative
• Authorised signatures of owners and managers

Official Registration Process

The registration procedure follows these key steps:

1. Submit your application to the Serbian Business Registers Agency (BRA) in person in Belgrade, at a regional office, or via their electronic system.
2. Pay the required registration fees to both the BRA and the Statistical Office.
3. Deposit the minimum share capital in a temporary bank account.
4. If applying electronically, submit original documents within five days.
5. Receive your registration approval, typically within 3-5 business days.

For straightforward ownership structures, the entire process generally takes around 10 business days. More complex arrangements involving foreign legal entities may extend to approximately 3 weeks.

Through the BRA’s one-counter system, your newly registered company will receive:

• Company identification number (CIN)
• Health insurance number
• Tax identification number (TIN)

Post-Registration Requirements

After successful registration, several critical steps must be completed:

1. Create a company seal (required for official documents)
2. Apply for local taxes (includes premises inspection)
3. Submit initial tax application (within 15 days of registration)
4. Open a permanent bank account (possible after receiving TIN)
5. Register employment contracts if hiring staff
6. Register for VAT if applicable
7. Obtain any necessary industry-specific licences

Foreign Management Considerations

For IT businesses from the CIS region, it’s important to note that neither shareholders nor managing directors need to be Serbian citizens. This provides significant flexibility for international technology companies.

However, non-Serbian directors may need to obtain temporary residence and work permits depending on their legal engagement basis. Our migration specialists can provide guidance on the optimal structure for your specific situation.

Conclusion

Serbia offers a relatively straightforward company formation process that can be completed within 1-3 weeks, making it an accessible option for IT businesses from the CIS region looking to establish operations in Eastern Europe.

The minimal capital requirements, flexibility regarding foreign ownership and management, and well-defined registration procedures create a favourable environment for technology companies seeking new opportunities.

For personalised assistance with your company formation in Serbia, including guidance on optimal business structures and post-registration compliance, contact Wolja Digital’s legal experts specialising in IT business support.