In case you intend to start a personal personal business in Serbia, the current note is for you. In this guide, we have collected for you all the information that the aristocracy needs for you before starting a personal personal business in Serbia.
Serbia’s strategic location in the Western Balkans and its burgeoning bazaar have made it a pretty space for traders looking for fresh abilities to develop their own cash. There is a wide market for them in the country, perfectly favorable for all kinds of business forms, and the Serbian government has taken steps to facilitate the opening of a business in the country.
Choose the right legal structure
First of all, you need to determine the type of legal structure that is best suited for your business. The two most common types of businesses in Serbia are limited liability companies (LLCs) and joint stock companies.
An LLC is the best option for most entrepreneurs due to its flexible management structure and limited shareholder liability. Experts usually strongly recommend using a joint stock company (JSC) for more substantial investments and public offerings.
Obtaining the necessary documentation
After choosing a legal structure for your company, you need to obtain the necessary documents to set up your business. Among the necessary documents are the company registration certificate, tax identification number, articles of association and proof of payment of the registration fee. In Serbia, the registration process is easy and can be completed within 5 working days.
Tax Registration
Further, it is necessary for you to register for paying taxes. Any business in Serbia must be registered with the tax inspectorate, which is responsible for collecting taxes in the country.
Your company will be assigned a taxpayer identification number (TIN), which will be used to identify your company in all relations with the tax inspectorate. You will be able to visit the district branch of the US Tax Administration in order to register a personal business.
Discover a bank account
It will be crucial for you to find a bank account for running your own business. A district bank account makes it easier to conduct transactions in the Serbian currency and manage your company’s money.
To open a bank account, banks in Serbia will need special papers that have every chance of connecting a constituent contract, business registration papers and documents indicating the person.
Hire staff and get the necessary permissions
As soon as your company starts working, you will probably need to hire staff who will undoubtedly help you to produce a personal business. Apart from this, some types of business have every chance of needing special permits before you can start your own work.
For example, if you intend to find a restaurant, you will need to get medical permission before you start your own work. You will be able to request additional information from the relevant authority responsible for the branch in which you intend to work.
Conclusion
After all, inventing a business in Serbia has its own problems, but it is a step towards realizing your dream of being frozen by your boss. In order to succeed in commercialization, you must have a vision, not a bad awareness of the market and a powerful team. Remember, in fact, that it is quite fundamental to observe the Serbian criteria in order to avoid litigation in the future.
By following these simple steps, you’ll be on the right track to starting a successful business in Serbia. Good luck!