Company formation in Serbia for foreign investors

Choosing the right vehicle

Most foreign investors choose a limited liability company (društvo sa ograničenom odgovornošću, d.o.o.), which can be wholly foreign-owned and requires minimal share capital. Alternatives are a branch of a foreign company, which is not a separate legal entity, or a representative office, which may not carry out commercial activities. The choice affects liability, tax and how the business can operate.

Documents for foreign founders

Foreign founders provide proof of identity or registration of the parent company, usually apostilled or legalised and accompanied by a sworn translation into Serbian. A Serbian address for the registered seat and the details of the director and authorised signatories are also required.

Registration with the APR

Companies are registered with the Serbian Business Registers Agency (APR). Registration also assigns the company and tax identification numbers. When the documentation is complete, the procedure is usually completed within a few working days.

After registration

Next steps are opening a bank account, depositing share capital, registering employees, choosing an accountant and, when turnover exceeds the statutory threshold or the business requires it, registering for VAT. Internal acts required by employment and data protection law should be adopted early.

Typical pitfalls

Incomplete or untranslated foreign documents, unclear powers of the director, founding acts copied from templates that do not fit the investor’s plans, and missing rules on deadlock between partners. A well-drafted founding act prevents costly disputes later.

Legal basis: Law on Companies; Law on the Registration Procedure with the Serbian Business Registers Agency; Law on Value Added Tax. Author: Attorney Slaviša Cincarević, member of the Belgrade Bar Association. Last reviewed: 29 October 2026.

This guide provides general information on Serbian law and is not legal advice for a specific case.