Opening branches in Serbia
falls under the provisions of the Serbian Law on Companies
. Even if it is not considered a legal entity, a foreign branch
can perform legal transactions and activities in the name of the parent company
on the Serbian territory. If you are a representative of a company from overseas who wants to establish a branch in Serbia
, you can rely on complete help and guidance in this matter, which is offered by our specialists in company formation in Serbia
. Starting with establishing the proper type of business
for your needs and ending with the preparation of documents, our team can offer the entire support.
What are the necessary documents for a branch in Serbia?
• the decision of opening a branch in Serbia issued by the parent company;
• the proof that the foreign company is registered in the country of origin;
• the certificate of registration and the constitutive documents of the parent company;
• the company’s articles of association with complete information about the owners;
• the list of the company’s management board’s members and supervisory board’s members;
• the name of the branch and the reason why it is opened;
• the name of the representative agent of the company and his/her rights.
All the above documents must be notarized and accompanied by the Serbian translation. As a result, the branch opened in Serbia will receive the registration certificate, the tax identification number and the certificate from the pension and health funds. Other requirements are to register with the tax authorities and with the Employment Organization Funds and to open a bank account for the future financial transactions.
What are the conditions for opening a branch in Serbia?
In accordance with the rules and regulations stipulated by the Companies Law in Serbia, a foreign branch represents a separate administrative division of a company that operates in other countries in compliance with the conditions imposed in those states. It is good to know that the Serbian Business Register Agency which oversees the company incorporation in the country, is also in charge of registering foreign branches. Among the information necessary for registration of your branch in Serbia, we mention that the documents must comprise details about the parent company such as the business name, the address, the name of the owners, activities, the registered capital and the name of the representative of the branch.
It is good to know that the company registration process of a branch in Serbia
presents about the same attributes related to opening other types of companies in Serbia
, with the difference that the parent company must provide complete information about the activities they intend to develop in the chosen country. Please keep in mind that as soon as the incorporation process took place, a statistical number and the registration certificate is provided to the newly-established branch in Serbia
. Also, the next step in the branch formation in Serbia
is to add a bank account which can be settled through a financial entity in the country or established in the home state, in order to perform the financial transactions related to the business. Branches in Serbia
must also consider the requirements linked to the employment in the country, meaning that the staff needs to be registered with the Pension Fund, for Insurance and also for Social Security. For guidance and help in company registration in Serbia
, we suggest you address to our local company incorporation agents
in the country.
How can I open a bank account for a branch in Serbia?
For opening a bank account for a branch in Serbia, the company’s documents are necessary, plus varied forms offered by the chosen financial institution. A provisory bank account is necessary for depositing the minimum share capital. Also, there are several services like internet banking which can be offered for companies and owners in Serbia. Please bear in mind that our team of advisors can help you select the proper bank for your business and can provide you with complete assistance when opening the account.
Registering for taxes as a branch in Serbia
Once the branch in Serbia
is registered with the institutions in charge, applying for tax purposes is the next step. Several documents need to be provided to the Tax Administration in Serbia before commencing the activities in Serbia
. All the needed support for registering with the tax authorities and with any institution linked to the business in Serbia
can be entirely provided by our team of company formation specialists, regardless of the chosen city for business incorporation.
What are the advantages of opening a branch in Serbia?
The advantages of holding a branch in Serbia
are especially of financial nature: if the country of origin has concluded a double tax avoidance agreement with Serbia
, some of the withholding taxes on interests, royalties, and dividends may be avoided and the corporate taxes can be exempt or refunded. Another advantage is that there is no required minimal share capital at registration and the provided capital must be delivered by the foreign company. In case the foreign company enters the process of liquidation, the Serbian branch
’s assets may be shared between the creditors if the debts cannot be paid.
The obligations of branches in Serbia
The branch established in Serbia is managed by a representative invested with the power of attorney by company in the foreign country. The approval from the foreign company must be received before major decisions are taken. The branch cannot acquire shares in another company without the consent of the parent company. Another requirement specific to the branches opened in this country is the obligation to register yearly the balance sheet and the statement of losses and profits of the foreign company at the Business Register Agency. The branch that was set up in Serbia must also keep its own financial statements and deposit them every year. The VAT returns must be deposited every month, just like any other local company.
For more details related to opening a branch in Serbia
and the related requirements, you may contact
our consultants in company formation in Serbia