Set-up Your Company in Serbia
It is needless to say that, having professionals who are well versed with the relevant legal framework and necessary procedures are significant in order to avoid pitfalls, prior to getting your business started in Serbia. NNRoad can help in establishing a legal entity by registering in accordance with the Law on Procedure of Registration with the Serbian Business Registers Agency.
Business entities you can open in Serbia
1) Private Limited Liability Company (DOO)
This form of legal entity is wildly used for starting a business in Serbia. A limited Liability Company is a form with up to 50 shareholders and basic capital of 500 EUR. All shareholders are liable for the earnings and debts of the company.
2) Joint Stock Company (AD)
In Serbia are two types of joint-stock (AD): open or closed.
A closed joint-stock company is limited to up to 100 shareholders and basic capital of at least 10,000 EUR. On the other hand, the open joint-stock company may have more than 100 shareholders, but the minimum share capital must be 25,000 EUR.
3) General Partnership (OD)
This is a legal entity based on an agreement between two or more persons willing to conduct business under the same name.
4) Limited Partnership (KD)
This has no minimum share capital request just like the general partnership. It’s formed by two or more shareholders with different liability and contributions.
Our Company Formation Service Includes:
- Confirm the selection of a business entity type.
- Assistance with the business name search.
- Registration of business address.
- Guiding and preparing legal documents like Memorandum/Article of Association and other incorporating documents if needed.
- Advise on the initial capital amount, if applicable.
- Finalizing and notarizing the paperwork.
- Assist with registration of the company with the relevant Tax Authorities.
- Support with after company setup services.
- Bank Account Opening assistance.
PEO/Employer of Record in Serbia
Hire employees in Serbia while NNRoad handles all employer liabilities. No local entity needed.
NNRoad will employ staff on behalf of clients so that the client does not need to set up a legal entity in Serbia. We provide comprehensive Employment services enabling you to have control of the employees’ daily tasks and to retain the responsibility of managing them, while we handle compliance with local authorities. We offer peace of mind to our clients as employers of record as we take care of all the administrative responsibilities and liabilities associated with maintaining the employees.
NNRoad's PEO/Employer of Record Service in Serbia Includes:
- Engaging employees through local labor contracts including contract administration, engagement, extension termination, and conversion to a permanent hire.
- On-boarding and off-boarding employees following Serbian labor law practice.
- Registration of employees with the social security board and with the tax office.
- Complete payroll solution and mandatory benefit administration.
- Employee management according to local laws, including employee record, timekeeping, bonus, and allowance management, expense and claims, and leave employee database management.
- Correspondence with authorities regarding the submission of employee documentation.
- Payment management, including invoicing customers/clients and salary payments.
- Submission of the salary tax return.
If you are not aware of the specific rules and regulations, it can get a little complex paying your staff in Serbia. Outsourcing to a company with a dedicated team of professionals can help you reduce costs and minimize the associated risk and liability.
NNRoad will make use of all the required resources, tools, expertise on the employment laws and will help you navigate complex employment compliance laws to provide compliant payroll solution. While we work on your payroll needs, you can allocate your time and effort to competencies.
- Registering and de-registering the necessary company and personnel information for payroll calculation in compliance with local rules.
- Preparation of monthly forms to be submitted to the Tax Administration.
- Calculation of gross salary, salary deductions, such as social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, paid/sick leaves, severance payments, IOSI, solidarity support of company, etc. if applicable.
- Annual Calculation per employee report (PPP form).
- Pro-rata calculation for people who join/resign.
- Providing a monthly payroll summary to the Company.
A good way to achieve your business goals is to have an experienced and reliable associate that will provide you with effective accounting services in Serbia. Managing all the financial transactions, monitoring the financial reports with the standard policies is very time-consuming for any business. NNRoad with experienced professionals provides the accounting and financial service to help you cut expenses and increase the efficiency of your business.
- Full set accounting services in compliance with local legislation and accounting standard.
- Bookkeeping on a daily basis (incoming/outgoing invoices, bank statements, petty cash, credit cards, etc.).
- Posting Intercompany Invoices (CH/RS, DE/RS) and Intercompany reconciliation.
- Preparation of required reports in accordance with Serbian legislation and to the adequate authorities (local communal tax, eco-tax, statistical reports, VAT reports, etc.).
- Registration at tax authorities and corresponding set-up/filing services to ensure operational business.
- Monthly and Annual Tax Declaration as required.
- Submission of statutory reports before Tax Authorities and other state authorities with compliance to local law.
- Consolidation accounting and preparation of group financial statements.