Registration of a European company and opening a bank account in Serbia

Successful development of international business requires the presence of companies registered in other countries. Previously, many businessmen preferred offshore companies because of the favorable tax policy of some countries. But changes in European Union legislation regarding classic offshore companies and an increase in the cost of their service make companies of this type less profitable than standard enterprises. These changes led to the opinion that in order to bring business to the international level it is better to register a company not in an offshore zone, but in a country with a standard tax policy.

But there is one important detail. This information is only partially correct. Company registration is possible (in some cases this procedure can even be performed remotely). But when registering a company, it can be difficult to open a bank account. The lack of citizenship of the selected country by the founder of the company can be a hindrance to this. In addition, the bank’s refusal to open an account may be based on the absence of a clear description of the firm’s business (or if the company is new). But how to enter the European markets without registering an offshore company? You must select a country with appropriate legislation. For example, Serbia.

What are the benefits of registering a business in Serbia?

• Remote registration of business via the Internet is possible.
• Serbian legislation provides local enterprises with the right to establish duty-free trade relations with all countries of the European Union, as well as with the United States, Russia and a number of other countries.
• Registration of a bank account for Serbian enterprises takes place within 1 week (in some cases it takes longer to complete this procedure).
• Registering a business in Serbia gives its founder the right to obtain a residence permit in that country, and in the future to receive a passport from the European Union (since Serbia will soon become a member of the EU).
• Opening a business in Serbia does not require payment of value added tax.
• The average duration of registration of a company in Serbia is 30-45 days (but in some cases this period may be extended).

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