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Company formation is mainly associated with a tedious and complicated procedure with a lot of paperwork that can potentially take up a lot of time. But does it always have to be that way?
Opening an entrepreneurial agency is a fairly simple process, which is further facilitated and simplified by introducing the electronic registration process.
Since the beginning of 2018, a novelty has been introduced with the aim to introduce and develop a system that contains no direct administration. That is the electronic registration of entrepreneurial agencies. Entrepreneurs can now register sole entrepreneurship in a faster and more economical way from their homes. In addition to saving time, entrepreneurs also save money, as the registration fee for the electronic application now totals RSD 1,000.00, instead of the usual fee of RSD 1,500.00.
In 2018 and 2019, Amendments to the Companies Law, allows electronic registration, firstly single-member Limited Liability Company (LLC) and after that LLC with more members which simplified the whole process of establishing the company.
This is a step forward in digitizing the process of forming companies, taking into account that according to the prepared Draft on Amendments to the Companies Law, the introduction of an electronic registration is envisaged for the establishment of other types of companies as well. Electronic registration for single-member limited liability companies (LLC) will be implemented immediately after this Law enters into force.
In order to submit a registration application, you need to create a user account in the Centralized Registration System for The Serbian Business Registers Agency users. After creating the account, you will be able to access the portal where the e-registration form is located. Also, you need to have a payment card like Visa or Master Card to be able to make an electronic payment.
The last requirement for opening a company in this way is to have a qualified electronic certificate so you can sign a registration application with a qualified electronic signature through your computer. For this, you need to have an electronic card reader on your computer.
The Serbian Business Agency sends a registration decision by e-mail to the applicant and registered entrepreneur, in the case they are different persons, signed by a qualified electronic signature of the registry and supplied with a time stamp.
Although the Decision on founding the entrepreneurship is in form of an electronic document, banks, state authorities, and other institutions have to accept the Decision regardless of the form.
This completes the registration process and all that remains for a newly established entrepreneur is to start performing the activity for which he has defined himself.
Since the end of February 2018, entrepreneurs have also been enabled the option to automatically notarize health insurance cards.
Another step in the digitalization of the state administration is the automatic health insurance card notarization, introduced in October 2017 year for the employees and their family members, children up to 18, or up to 26 years of age if they are enrolled in school, Romani, monks and nuns and victims of violence.
At the end of February 2018, this possibility was extended to the remaining categories of insured persons, including entrepreneurs.
The notarization of health insurance cards in this way is provided to insured persons who regularly pay their contributions for compulsory health insurance. The Tax Administration directly submits to the National Health Insurance Fund this information, without the need for waiting at counters, submitting a request for issuing certificates, and wasting time on this procedure.
Health insurance beneficiaries will be able to check whether their health insurance cards are notarized on the website of the National Health Insurance Fund, and the notarization carried out will be available on the website of the Central Registry of Compulsory Social Security, in the section E-application.