Incorporation of Local Entity

The founders must notarize 3 copies of MoA at the Public Notary and provide the Serbian Business Registers Agency (SBRA) with one notarized copy, among other documents.

Notarized MoA, along with prescribed registration forms filled out properly and supporting documents (for instance, copies of shareholder’s and director’s passports, etc.) are processed by SBRA, which usually issues the decision on entity formation even before the statutory 5 days deadline. 

This is, among other things, contingent upon registering owners of the newly registered entity with the Serbian Register of Ultimate Beneficial Owners (UBO) for which registration issuance and possession of electronic signature for the owners is needed.

But, if owners are for any reason prevented from obtaining the electronic signature, or performing registration of UBO, then we do have tailored solutions for our clients to avoid delays which otherwise tend to be quite severe.

Finally, the selection of an appropriate bank for opening of bank accounts is now more important than ever, especially for certain categories of founders (such as citizens or residents from the Russian Federation, for instance) given that this may hinder and in some instances halt the successful ending of the incorporation process.