The Law on Registration of Business Entities published in the Official Gazette of the Republic of Serbia, no.55/04, is an important law which simplifies the process of incorporation and unifies the register for all business entities in Serbia. The new law provides for registration of companies and entrepreneurs in the same place - the Register of Business Entities, which will become a unified, central registry for all of Serbia.
This law establishes the Business Entities Agency and determines the conditions and procedure of registration of companies in the Registry which shall be held by the Business Entities Agency.
The time for the registration and for issuing official copies and certificates is five days.
An application is submitted by email, then completing the form on the web page of the Agency and submitting scanned documents. Original documents must be submitted within 5 days from the electronic application.
Once the application is submitted the Registrar issues a Certificate of Submission;
Upon the receipt of the application the Registrar verifies: the content of the application, whether all the required documents have been submitted, evidence on payment of the administrative tax, conformity of the data stated, whether any other entity has been registered under the same name, whether the relevant name has been reserved for another entity and whether other conditions provided the law have been fulfilled.
A prospective applicant can reserve the name for its future entity by submitting the relevant application. The reservation is valid for 60 days.
The most commonly used legal form in Serbia is a limited liability company.
The new Company law provides that limited liability companies can have up to 50 shareholders, and that the minimum share capital is €500.
A company is incorporated according to a Memorandum of Association with two or more shareholders.
The Memorandum of Association has to include the following:
The shareholder's signatures on the founding acts have to be registered-verified by the authorised court. The verification procedure may also be performed at a Serbian consulate abroad.
The following documents have to be submitted to the Business Registration Agency: