The Serbian Business Registers Agency (SBRA) has taken a major leap towards modernizing its company registration process by making online incorporation mandatory. This move, brought about by recent updates to the Law on Registration Procedure, will not only make the process more efficient but also align Serbia with international best practices.
The Online Advantage
Starting 17 May 2023, companies in Serbia will enjoy a completely electronic incorporation process. This means that anyone looking to establish a business will be able to do so using their qualified electronic signature and pay the required fees through a payment card or e-banking services.
How to Get Started
To benefit from this new, streamlined process, applicants must have an account on the SBRA online platform and a qualified electronic certificate issued by a competent Serbian authority, such as the Serbian Chamber of Commerce or Halcom Certification Body. It’s important to note that you’ll need to be physically present in Serbia to collect the qualified electronic signature. However, applicants can do this through their representatives (such as law firms) in Serbia who have accounts with the SBRA and have qualified electronic certificates.
The Perks of Going Digital
With this online process, businesses can now save time and money by eliminating the need for costly notarization of most documents and shipping original documents to Serbia. This new system also promises to reduce the time needed for the SBRA to incorporate a company, and it makes it easier to modify, amend, or withdraw submitted documents and applications. This added flexibility gives businesses more control over their registration process.
In a Nutshell
The transition to mandatory online company registration in Serbia marks a significant milestone in the country’s business landscape. This new system simplifies the incorporation process and saves resources, making it more appealing for business owners.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.