Invest In Obrenovac Serbia

Investment guide

The section Guides provides basic information and guidelines for starting a business in the Serbia and Obrenovac
In addition to the basic steps required in order to set up a company, this section focuses on the climate for doing business in Serbia and Obrenovac, specifically workforce availability, real estate market, tax obligations and other elements of relevance for running a company, but also on the more beautiful and relaxed aspect of doing any business, that is – living in Obrenovac.

ROADMAP FOR STARTING A BUSINESS
10 steps to start a business in Serbia and Obrenovac

Forming an LLC

OBTAIN REGISTRATION FORMS AT THE PAPER SHOP OR ON-LINE AT THE SERBIAN REGISTERS AGENCY (SBRA)
www.apr.sr.gov.yu

Requirements:

• LLC forms needed: RJR-1, OP, M1, M4, E1, E3, OU, ROD1

TIME TO COMPLETE: 1 day
TOTAL COST: CSD 365

1. NOTARIZE AN LLC FORMATION AGREEMENT AT THE MUNICIPAL COURT
   
   Requirements:

• LLC formation agreement
• LLC registration forms
• Signature certification at the Municipal Court
• Photocopy of an ID card (passport)

TIME TO COMPLETE: 1 day
TOTAL COST: CSD 2600

3. OPEN A TEMPORARY BANK ACOUNT
   
   Requirements:
• LLC formation agreement submitted to a commercial bank
• €250 deposit for the initial capital and the rest within 2 years of formation
• Upon registration the initial capital may be used for running a business

TIME TO COMPLETE: 1 day
TOTAL COST: no charge

4. OBTAIN A REGISTRATION CERTIFICATE FROM THE SBRA
   
   Requirements:
• LLC registration forms
• LLC formation agreement signed and notarized at the Municipal Court
• Act on the appointment of management
• Founder info (registration documents, ID No, proof of residence for a physical person)
• Certified signatures of the management – OP form
• Administrative fees receipts

TIME TO COMPLETE: 3 days
TOTAL COST: CSD 4090

5. CREATE A STAMP AND A SEAL
   
   Requirements:
• Bring a copy of the registration certificate from SBRA to the stamp maker
• Stamp and seal costs vary depending on design and number of characters

TIME TO COMPLETE: 1 days
TOTAL COST: CSD 2500

6. OBTAIN A TAX IDENTIFICATION NUMBER (PIB) FROM THE LOCAL TAX AUTHORITY
   
   Requirements:
• Completed, signed and stamped PIB form
• Copy of the registration certificate from SBRA
• Copy of the code from the Statistics Office
• Certified signatures of the management – 3 copies

TIME TO COMPLETE: 10 days
TOTAL COST: no charge

7. OPEN A PERMANENT BANK ACCOUNT
   
   Requirements:
• Certified copy of the Commercial Court registration
• Copy of an LLC formation agreement
• Copy of the Articles of Association
• Copy of the code from the Statistics Office – residents only
• Tax ID number – residents only
• Signature specimen – original
• Deposit funds contract
• Permanent bank account application form
• Photocopy of an ID card (passport)
• Authorized signatures issued by the court (OP form)

TIME TO COMPLETE: 1 day
TOTAL COST*: CSD 400

8. REGISTER THE EMPLOYMENT CONTRACTS AT THE NATIONAL EMPLOYMENT SERVICE (NES)
   
   Requirements:
• Certified forms M1 (insurance) and M1 old (insurance and establishment of professional collaboration)
• Certified form E1 (vacancy notice)
• Certified form E3 (establishment of professional collaboration)
• Certified form ROD1 (terms for contributions)
• Employment contract and ID card

TIME TO COMPLETE: 1 day
TOTAL COST*: no charge

9. OBTAIN A CERTIFICATE FROM THE PENSION FUND (PIO)
   
   Requirements:
• Certified form M1 (insurance)
• Certified form M4 (tax payer registry number and contributions payment)
• Certified form E1 (vacancy notice)
• Certified form E3 (establishment of professional collaboration)
• Employment contract

TIME TO COMPLETE: 2 days
TOTAL COST*: no charge

OBTAIN A CERTIFICATE FROM THE HEALTH FUND

Requirements:

• Medical examination record (medical ID card)
• Certificate on performed medical examination

TIME TO COMPLETE: 1 day
TOTAL COST*: no charge
TOTAL TIME: 19 days
TOTAL COST: CSD 9,995.00
Exchange Rate on January 30, 2007: EUR 1 = CSD 78,55
Source: National Bank of Serbia
CHECK CURRENT EXCHANGE RATE AT http://www.nbs.yu/english/sitemap/index.htm

ROADMAP FOR GREENFIELD INVESTMENT ESTABLISHMENT
10 steps for Greenfield investment establishment in Obrenovac & Serbia (Building on Construction Land):

1. SEARCH FOR AN INVESTMENT LOCATION
2. PROOF OF URBAN PLANNING COMPLIANCE FOR A SELECTED INVESTMENT LOCATION
3. ACQUISITION OF AN INVESTMENT LOCATION

• Public auction
• Acquisition from a private land owner

• OBTAIN THE INFRASTRUCTURE AND UTILITY REQUIREMENTS AND PAYMENT OF THE FEES FOR INFRASTRUCTURE DEVELOPMENT AND UTILITY CONNECTIONS SUPPLY
• DEVELOPMENT OF THE CONSTRUCTION PROJECT
• OBTAIN A CONSTRUCTION PERMIT
• SELECTION OF A CONSTRUCTION COMPANY AND A CONSTRUCTION SUPERVISOR
• NOTICE OF CONSTRUCTION WORKS AND THE BEGINNING OF CONSTRUCTION
• TECHNICAL APPROVAL AND USAGE PERMIT
• REGISTRY WITH THE PUBLIC AUTHORITY