Yes – foreign citizens can register a company in Republic of Serbia, without any specific limitation. The most common type of business entity that has limited liability in Serbia is limited liability company (in Serbian: društvo ograničene odgovornosti). Company...
A large number of documents are created during the company operation. Certain documents are created by the company or entrepreneur itself, while others come from outside - from suppliers, customers, commercial banks, accountants, and government authorities. During the...
The employer can pay the employee an aid upon emploee's child birth, if such a gift was defined in Labor Rulebook or employment contract. This possibility is regulated by Article 120 of the Labor Law of Republic of Serbia. This is an option, not an obligation for...
Government of Republic of Serbia decided new minimal wage to be 271 dinars of net salary per hour starting from 1st January 2024. Employers who are paying less than this are obliged to offer an increase to their employees and annex the labor contracts for 2024....
Are you planning to prepare gifts for your employees' children for Christmas and New Year? This is a common practise in Serbia. If you wish to follow it, here is what you need to know. Labour Law of Republic of Serbia created an option to the employers is Serbia to...
Upwork is an online platform that connects skilled professionals with employers in need of those skills. The demand is created by individuals and legal business entities — clients, while the work is usually supplied by individuals who can perform the required tasks....
Future entrepreneurs frequently wonder about the basic tax liabilities that will arise when they start operating. In this post, we’ll go over the relevant fees that apply to entrepreneurs who do their bookkeeping and pay themselves a salary. This analysis will focus...
You’re probably aware that you’re entitled to lump-sum taxation on an annual turnover of 6 million dinars or less. This limit is stated in the Individual Income Tax Law. A question that frequently comes up in light of this is what happens when an entrepreneur exceeds...
Employers may choose to pay for their employees' voluntary (private) health insurance. This is not a requirement but a benefit, so it’s not compulsory. Paying voluntary (private) health insurance premiums does not exempt the employer from their obligations to...
The Law on the Centralized Records of Beneficial Owners was passed in the spring of 2018 and came into force on June 8, 2018. The law concerns the beneficial ownership of legal business entities and the obligation to document and register information about said...
Within the Serbian tax system, tax liabilities are created when you generate revenue. For this reason, most business owners are surprised when we mention tax obligations that may arise when paying for services provided by a foreign company or an individual. If you...
Non-resident founding members of a limited liability company can invest in their business (registered in Serbia) in the form of an additional payment that does not increase capital. The payment is made into the company’s foreign currency account. Therefore, it will be...
PAYMENT CODES Classified by the type of payment 1 - Cash Cash payments to or from checking accounts 2 - Cashless Transfers from one checking account to another 3 - Accrual Billing payments 9 - Reimbursements Returns for overpayments or erroneous payments...
In November of 2014, the National Assembly of the Republic of Serbia passed the Law on the Protection of Whistleblowers. The Law went into effect on June 5, 2015, six months after its publication in the Official Gazette of RS. The purpose of the Law is to protect...
Notice of foreign currency inflow is one of the most commonly seen documents in foreign currency transactions between domestic (resident) and international (non-resident) companies. Suppose a foreign buyer is making a payment for exports that were made by a domestic...
A business entity may receive payments in foreign currency to a bank account based on international trade operations and certain specifically regulated transactions within domestic trade for which payment in foreign currency is permitted. The most common transaction...
One of the first steps you need to take before establishing your company and drafting the article of incorporation is to choose a business name. There is a lot of good marketing advice you can take into consideration when selecting a name, and certain legal...
In the course of business, there are common confusions about the difference between the pro forma invoice, advance payment invoice, and regular invoice. A pro forma invoice most commonly serves as a request for payment of goods and services that have yet to be...