A subsidiary is a form of business registered in Serbia that has the same advantages as a local company, but whose share capital is owned partially or totally by a foreign company.
In Serbia, the registration process of such business doesn’t take longer than two weeks and is based on the declaration of opening a subsidiary issued by the foreign company.
The procedure of registering a subsidiary in Serbia begins with the notarization of the Articles of Association at the Court. This process takes about one day.
A temporary bank account must be opened and the minimum share capital must be deposited.
The next step in establishing a subsidiary in Serbia is registering the notarized documents with the Business Registers Agency for the certificate of registration and the tax identification number. Also the company must enroll at the Pension Fund and the Health fund.
The bank account is then transformed into a permanent bank account. For this, the founder must provide three copies of its certified signature.
The employment contracts, if any, must be deposited at the Employment Organization at Business Registers Agency.
The Serbian company will use in its future operation its own stamp and seal, so it’s mandatory to apply for issuing those.
The last step of registering a subsidiary in Serbia is registering for VAT and other specific taxes at the authorized tax authority.
The process of registration takes about 12 days if the documents are properly submitted.
A Serbian subsidiary may chose to open two types of limited liability companies in Serbia: private or joint stock companies.
The private limited companies in Serbia are formed by at least one founder and maximum 50 shareholders who must bring a minimum share capital of 500 Euros, in cash or assets. Their liability is limited by the contribution to the capital and the shares cannot be transferred to the public.
A joint stock company in Serbia can be open or closed. A closed joint stock company cannot have more than 100 shareholders that must deposit a minimum share capital of 10,000 EUR. The shares of such company are not freely transferable. An open joint stock company has no maximum number of shareholders, but the minimum share capital of 25,000 EUR must be deposited at registration. The shares of such company can be transferred to the public and can be registered at the Stock Exchange. Just like in the case of a private limited liability company, the liability of the joint stock company is limited by the contribution to the capital.