The main stages of obtaining a Serbian residence permit on the basis of starting a business in Serbia
11.01.2024
Obtaining a residence permit in Serbia on the basis of starting a business includes the following main steps:
1. Business Plan Development.
Write a detailed business plan that will serve as the basis for your venture in Serbia.
2. Choosing the legal form of the company.
Decide on the legal form of your business (e.g., sole proprietorship, LLC, or joint stock company).
To legalize in Serbia, you will also need a place to live, either rented or owned, to prove your residency you will need a rental contract or a real estate ownership document, as well as a local propiska, called "white cardboard", which must be obtained at the police station within 24 hours of entering Serbia (this procedure takes less than an hour of your time). You will also need to purchase a local SIM card to facilitate information retrieval, to consume local services and to interact with locals.
3.Company Registration.
Go through the process of registering the company with the relevant Serbian state authorities. This includes filing the incorporation documents and registration with the tax office. A decision on the application for company registration is issued within 5 working days.
To register a company with Serbia you will need a legal address - you can do it in three ways: first - rent a commercial property; second - specify the address of your residence in a rented apartment, with the consent of the landlord; third - rent an address and pay for it monthly (virtual office).
The cost of renting an office depends on the location, city, available infrastructure, the average cost of office space in Belgrade will cost 15-30 euros per square meter. Renting a virtual office costs an average of 60-70 euros per month.
4. opening a bank account.
Open a corporate bank account in one of the Serbian banks. On average, opening an account takes 1-4 weeks (in some cases from 1-2 ur days).
5. Obtaining necessary licenses and permits.
Depending on the type of activity of your business, you may need to obtain special licenses and permits.
6. Investments in the Serbian economy.
Prove that your business will contribute to the country's economy, which is an important criterion for obtaining a residence permit.
7. Submitting an application for residence permit.
Apply to the Serbian Migration Service for a residence permit. Provide necessary documents, including proof of company registration, financial statements and business plan.
8. Waiting for the application to be processed
The application process can take some time. During this period, it is important to keep your business active and legal. (It usually takes about 3 weeks to process an application.)
9. Obtaining a residence permit.
Once your application is approved, you will receive a residence permit, which is usually valid for one year with the possibility of renewal.
10. Maintaining the status of a residence permit.
To extend your residence permit, you need to prove the successful operation of your business, compliance with tax and migration laws.
What documents do I need to register a company?
- Application for registration
- Passport of the founder or founders and its copy
- Constituent documents (articles of association, memorandum of association - these documents should contain information on the name of the company, its registered office, the subject and purpose of its activities, the amount of the authorized capital)
- Resolution on the appointment of a director (if the management of the company is not defined in the constituent documents, a separate resolution on the appointment of a director is required).
- Proof of payment of the authorized capital (The founders need to deposit at least 25% of the minimum authorized capital of RSD 3,000,000 into an account before the company registration procedure begins. This can be a bank transfer confirmation or a bank statement.
- Proof of the company's legal address (lease agreement or document confirming ownership of the premises).
- Proof of payment of the registration fee (For sole proprietorships - RSD 1,600. The application can be submitted electronically, in which case the fee will cost RSD 1,500. For LLC - RSD 5,900, including RSD 4,900 for the establishment of the company and RSD 1,000 for the registration of the Articles of Association).
- Additional documents (depending on the type of activity, special licenses or permits may be required).
The following documents are issued after incorporation of the company:
- registration/identification number assigned by the Republican Institute of Statistics,
- Taxpayer Identification Number (PIB) assigned by the Central Tax Administration,
- a document on the chosen taxation,
- certificate of completed application (so-called Form M-A), which is issued by the Central Registry of Compulsory Social Insurance - CROSO,
- information on the number of insured persons.
What documents do I need to open a bank account in Serbia?
To open a bank account in Serbia, a foreigner is usually required to submit the following package of documents:
- Valid passport and internal passport of the applicant. Copies are taken at the bank branch when submitting the documents.
- Proof of residence. This can be a residence permit in Serbia or a white cardboard.
- A document confirming the purpose of opening an account. This may be a document on company registration, a lease agreement or an employment contract.
- Company requisites. If the account is opened for a business, the company's constituent documents, the decision to appoint a director and other corporate documents are required:
- power of attorney for opening a corporate account (mandatory apostille);
- Articles of Association of the company in Serbia (translation into Serbian is mandatory, as well as notarization of the document);
- description of the company's sphere of activity (can be in free form).
- Confirmation of the source of funds. A statement from any bank for 3-5 months on the movement of funds is required. Some banks may request documents confirming the source of funds for replenishment of the account.
- Completion of the bank's application form and forms. Including Anti-Money Laundering (AML) and Know Your Customer (KYC) forms.
- Serbian phone number and e-mail address. For contacting the bank and receiving bank notifications.
- Additional Documents. Depending on the bank and the type of account, additional documents may be required. (Employment contract with a Serbian company).
Documents for obtaining residence permit on the basis of opening a company in Serbia.
After formalizing a company in Serbia, opening a corporate account in a local bank, you can proceed to apply for a residence permit on the basis of starting a business in Serbia, for this you need to make an appointment at the migration service and prepare a number of documents, including:
- Passport and its copies
- bank statement
- Photo
- Contract for rental housing, or ownership of property
- White cardboard
- Health insurance for a year
- Receipts for payment of state duty
- Application for residence permit
- Autobiography
- Extract from the register confirming the opening of the business
Residence permit in Serbia for the family of an entrepreneur.
In addition to the main applicant, the Serbian residence permit may be granted to immediate relatives, they can be:
- spouse;
- The applicant's financially dependent parents;
- persons in a common-law relationship;
- Children (including adopted children under the age of 18).
Spouse and minor children must apply and pay state fees at the same time as the applicant, while adult relatives can be employed in an established company, for which it is necessary to obtain a work permit and on this basis apply for a residence permit. It is important for the entrepreneur to prove the availability of sufficient financial resources to support himself and his family, as well as to provide documents confirming the relationship with dependents. All applicants, including family members, will also need health insurance.
Family members of an employed person, including entrepreneurs, can obtain a residence permit on the basis of family reunification. Documents for obtaining a residence permit for the whole family are usually submitted at the same time. On average, you have to wait 4 weeks from the date of submission to receive the coveted residence permit.