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Open a company with a bank account in Serbia

20. 09. 2022
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Registering a business in Serbia for non-resident is a quick process, as the registrar makes a decision within 1-2 weeks after submitting the application. But in order to open a company with a bank account in Serbia, you need to prepare all documents, fill out the forms correctly and perform required actions.

Step 1. Determine the legal form of your business

The law provides for these types of businesses:

  • Individual entrepreneur / contractor business.
  • LLC.
  • A business partnership.
  • Limited Liability Partnership.
  • A joint-stock company.

The most popular form of registration is an LLC. A company can have one or more founders, directors, which allows you to effectively manage your business.

Step 2. Choose a name

It is necessary to choose a name for the company, observing certain rules:

  • The name must indicate the legal form of the business.
  • The name in Serbian can be written in Cyrillic or Latin, Roman or Arabic numerals are allowed.
  • The name in foreign language is allowed.
  • The name has to be unique. Whether it is available for registration can be checked on the state website of the Serbian Business Registers Agency (SBRA).

Errors in the name is one of the most common reasons for refusal of registration application. Our specialists will help you to get it right.

Step 3. Define activity code

Each country has a list of activities under which to register a business. For example, if you are opening an IT company you have to indicate the code under which IT services are listed. These data must be specified when applying for business registration.

Step 4. Address

It is obligatory to have an office in Serbia, but it is possible to register a virtual address instead of a postal address. This option is suitable for small and new companies, which cannot afford to rent office space. Also virtual office is a solution for companies which activity is not tied to a specific location, based on distance working.

Step 4. Articles of Association

Depending on the number of founders of the LLC, you need to prepare:

  • Decision on the formation of the LLC - one owner.
  • Articles of Association - more than one founder.

The memorandum of association must contain the following information:

  • Name of the company, its address, registration number.
  • Information about the founders.
  • Activity code.
  • Amount of authorized capital.
  • Financial and non-financial contributions of each member.
  • Date of contributions.
  • The share in the share capital of each owner of the LLC as a percentage.
  • Bodies of the LLC, their location, the rights of the representative.

The memorandum of association must be certified by a notary. The founder can be absent at this procedure, it is enough to issue a power of attorney to our company. Also you need to fill out a form at the notary, indicating a list of persons who have the right to answer on behalf of the company. The founder's signature also has to be notarized.

Step 6. Filing the Paperwork with the Registrar

Registration of the company starts with the filing of the application to the SBRA, which is made according to the template. To do this, you must visit one of its branches or submit the application by mail.

The application must be accompanied by the following papers:

  • Passports of the founders. If there is a legal entity among them, one must submit an extract from the registry where the company is registered.
  • Articles of incorporation with the signatures of all owners.
  • A receipt of payment of the business registration fee.
  • An application can be filed by a founder or an authorized / proxy.

Step 7. Business Registration

The regulator carefully reviews the application, and if everything is in order, approves the application. You receive:

  • Business number;
  • Your tax identification number;
  • Health insurance number, issued by the National Health Insurance Fund.

Step 8. Opening a bank account

After registration of the company it is obligatory to open a corporate account in Serbia. To open a bank account in Serbia 2022 you must submit:

  • Application for opening an account.
  • List of authorized persons to represent the company - notarized CS form.
  • Extract from the Commercial Register on the company registration.
  • Corporate documents (articles of incorporation, etc.).
  • Passport of the owner, director.
  • Business plan.

If necessary banker can require other documents. Verification usually takes a few days, and if everything is in order, the account is opened.

How to open a company in Serbia

For fast company and account registration in Serbia, contact IT-OFFSHORE experts.

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