Business formation timeline in Serbia
Are you ready to achieve your dream of becoming an entrepreneur? It is crucial to navigate the process of forming a company for a successful start, and Serbia offers a supportive environment for business ventures. This detailed guide leads you through the steps from idea to officially establishing a company, providing approximate deadlines and helpful advice for making informed decisions.
A step-by-step guide
We have outlined the essential steps for creating a company and provided an estimated time frame, as well as our comprehensive strategies to simplify the process for you. It’s important to note that the timeline for setting up a business can vary greatly, as each company’s registration process is distinct and dependent on its specific circumstances and needs.
Define your business plan (1-2 weeks)
It is important to establish a strong, clear strategy before beginning the formal process. Our team of professionals can provide expert guidance and help you develop a tailored corporate plan that aligns with your goals. Schedule a meeting with us to start the process.
Reserve your company name (1-2 days)
Choosing a unique and enduring business name is a crucial part of your marketing strategy. We offer fast and straightforward name reservation services to ensure that your desired name is available and secured immediately.
Draft and sign the articles of association (1-2 weeks)
Our legal team helps to draft and review the essential documents known as the Articles of Association, which establish the legal structure, purpose, and internal regulations of your company, in line with the laws and regulations of Serbia.
Opening a business bank account (1-2 weeks)
In order to conduct financial transactions for your company, it is necessary to set up a business bank account. You will need to provide identity papers, proof of firm registration, and any other necessary documentation. Typically, this process can be completed within one to two weeks.
Deposit share capital (1-2 weeks)
In Serbia, companies must deposit a minimum share capital based on the selected legal structure. We help with the paperwork and walk you through the process of depositing the necessary funds into your newly established bank account, ensuring legal compliance.
Register your business (1-2 weeks)
Enrolling your business with the Trade and Companies Register is an essential part of setting up. Our team of experts takes care of the documentation, communicates with the relevant authorities, and speeds up the registration process, thus reducing the time and energy needed on your end.
Obtain necessary permits and licenses
Your corporate activities in Serbia may necessitate certain permits or licenses to ensure legal operation. Our regulatory specialists will help navigate you through the intricate process, pinpoint the required permits, and support you in obtaining them promptly. The timeframe for acquiring the necessary permit will differ based on the type of license.
Tax registration (2-3 weeks)
Registering for taxes is a crucial step in establishing a business. This involves obtaining a specific tax ID number, which can take varying amounts of time but generally about two to three weeks to complete.
Set up payroll and employment contracts (1-2 weeks)
It is essential to create compliant payroll and employment contracts if you intend to hire employees. Our team of HR professionals can help you establish payroll systems, create employment contracts, and ensure adherence to labor laws, allowing you to concentrate on assembling a skilled team.
Establish accounting and bookkeeping practices (2-4 weeks)
It is crucial for any business to keep precise financial records. Our team of accountants assists in creating strong accounting and bookkeeping procedures to ensure adherence to Serbia’s accounting standards.
Starting operations
With all regulatory procedures complete, your company is ready to commence operations. The timing of this next step can vary based on factors such as the type of your company, market conditions, and your readiness for the market.
Form a company with us
Ready to begin your business journey in Serbia? Contact us for a consultation today and our experienced team will assist you at each stage. We collaborate to achieve your business objectives.