In general, foreigners can establish a company in Serbia under the same conditions as domestic persons.
However, there are certain specificities regarding the company formation procedure itself, when a founder is a foreign person.
For example, the founders often want to know how many times they will need to personally show up during the whole procedure of establishing a company. This is especially important for those who are not staying in Serbia.
Therefore, the fact that the presence of the founder is completely avoidable, makes the whole procedure very convenient for everyone who is interested to go through this quickly. In fact, every step of the process can be completed by the person empowered by the Power of Attorney, even the signing of the Memorandum of Association if the person is given a special Power of Attorney.
Moreover, depending on what is your country of origin, in order for the documents (such as special Power of Attorney) from your country to be accepted for international use:
- the document has to pass the procedure of the so-called full legalization or
- you have to put an apostille on the document or
- the apostille may not be required.
What obligation will exist for you depends on whether the state from which the document originates is a signatory to the Hague Convention on the abolition of the need to legalize foreign public documents.
Here you can find the list of the countries that are signatories to this convention.
As for the third category, in cases when an apostille is not necessary for international use, Serbia has signed a bilateral agreement on the mutual release of legalization of public documents (by that, for certain agreements, only some categories of public documents are released from legalization).
Serbia has concluded a bilateral agreement on the mutual release of public document legalization with the following countries: Algeria, Austria, Belgium, Belarus, BiH, Bulgaria, Czech Republic, Slovakia, France, Greece, Croatia, Italy, Iraq, Cyprus, Hungary, North Macedonia, Poland, Romania, Russian Federation, Montenegro, Ukraine, and Slovenia.
Finally, another specificity is that there are specific tax benefits for returnees and foreigners, which we have analyzed in detail.