It is located in the heart of Balkan peninsula, on the important crossroads between Europe and Asia.
FAQ’s
Find your answers about Serbia
Questions and answers about Serbia
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01. Where is Serbia located?
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02. What time zone applies in Serbia?
CET (GMT+1)
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03. What is the country dialing code?
+381.
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04. What is the official population of Serbia and which city is the capital of Serbia?
Approximately 7,2 million. Serbian State Province of Kosovo and Metohija has a population of approximately 1,5 million. Serbian capital is Belgrade.
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05. What type of climate Serbia has?
Temperate continental climate with warm summer and usually cold winter.
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06. What language is spoken in Serbia?
Official language is Serbia. Cyrillic and Latin alphabet are both used and guaranteed by the Constitution.
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07. What currency is used in Serbia?
Serbian Dinar (RSD). EUR can be exchanged in Serbia at the middle exchange rate of RSD 117,6. Foreign currencies can be used for buying and selling real estate, paying rents etc.
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08. What is the state religion?
Around 85% of the population is Eastern Orthodox, while there is Muslim and Roman Catholic minority in the Western and Northern Serbia.
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09. What countries are biggest import-export partners of Serbia?
Germany and Italy in the EU, Russian Federation, China and surrounding countries.
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10. How good is the internal transport of Serbia?
Northern part of Serbia (Vojvodina), is well connected with the southern and central parts with highways. Serbian transportation sector is rapidly growing. Railways are still being used regularly and they connect Belgrade with north and south of Serbia, as well as neighboring countries and especially Montenegro.
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11. Is Serbia a member of international organizations?
Serbia is the only legal successor of SFR Yugoslavia, one of the founders of UN. Serbia is a member of Council of Europe and candidate for the membership in the EU. Serbia is a member of EFTA and CEFTA as well. Serbia also remains in customs-free regime towards EU and EAEU.
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12. Can foreign citizens buy real estate in Serbia?
Serbia has signed 78 bilateral reciprocity agreements that allow foreign citizens to buy real estate in Serbia. Factual reciprocity can be confirmed in a procedure controlled by the Ministry of Foreign Affairs.
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13. How many double tax avoidance agreements were signed by Serbia?
Serbia has signed more than 65 double tax avoidance agreements with countries all over the world.
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01. Can relocate my business to Serbia?
Relocation of your business is possible through several mechanisms, such as daughter company of your existing company, branch or other type of affiliated structure that will facilitate the process. Also, you can set up individual entrepreneurship as a flexible parallel solution convenient for overcoming the transition.
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02. As a new business, should I start in a form of LLC or entrepreneurship?
If you don’t have planned activities in the beginning, LLC may be suitable for you, given that the corporate tax is being paid yearly, as a percentage of the profit. Entrepreneur is an individual registered to perform business activity. This model is suitable for freelancers: taxation is flat on monthly basis and the amount depends on the business activity, location and other elements. Both legal forms allow the person to apply for residency permit in Serbia.
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03. Can I work for a foreign company in Serbia?
As I holder of Serbian work permit, which is being issued on the basis of your residency permit, you can work in every legal entity in Serbia, depending on the requirements of the particular work place. Employment itself is one of legal bases for obtaining residency permit in Serbia.
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04. What are the rates of corporate tax and capital gains tax in Serbia?
Both corporate tax rate and capital gains tax rates are 15%.
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05. How much is the dividend and withholding tax rate in Serbia?
Tax rate on dividends is 15%, but keep in mind that Serbia signed more then 65 double tax avoidance agreements with countries all over the world. Withholding tax rate is 20% and 25% but it relates to certain services and jurisdictions exclusively.
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06. Will my business be subject to VAT by law?
You business will be subject to VAT registration once your income exceeds the amount of RSD 8 million in the period of 12 months. The general VAT rate for the taxable sale of goods and services and import of goods is 20%, but taxable sale of certain goods and services are subject to lowered tax rate.
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07. What is the amount of minimum and average salary in Serbia? What is the percentage of the net salary that needs to be paid to the state as social contributions for each employee?
Minimum monthly salary is approximately EUR 290 and average monthly salary is approximately EUR 550. Social contribution rat is approximately 61% of the net salary.
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08. What currency is used in Serbia? Can I receive income from abroad in USD?
Serbian Dinar (RSD). EUR can be exchanged in Serbia at the middle exchange rate of RSD 117,6. When it comes to internal transactions, foreign currencies can be used for buying and selling real estate, paying rents etc. Income from abroad is possible in USD, EUR, CHF, GBP and other popular currencies.
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09. What countries are biggest import-export partners of Serbia?
Germany and Italy in the EU, Russian Federation, China and surrounding countries.
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10. Are digital assets regulated in Serbia?
We are pleased inform you that Serbian digital sector is growing rapidly – along with real estate sector, especially in the capital city (Belgrade). Serbian Law on Digital Assets entered into force in July 2021 and it gives legal foundation for transactions with digital assets between individuals and entities.
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11. Which sector of economy is backed with the biggest number of Government incentives?
Serbian IT sector is being marked as on of the most important sectors of economy and gives wide specter of opportunities when it comes to incentives.
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12. Is there a deposit insurance system in Serbia?
In accordance with local regulations, deposits are insured up to the amount of EUR 50k per bank.
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13. Is Serbian banking system safe?
Serbian banking system is stable and has a long tradition. You can open local and foreign currency accounts in Serbian banks, branches of EU based banks or branches of banks based outside of Serbia, with a possibility to acquire variety of popular banking services.
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01. Is it possible for a whole family to obtain residency in Serbia?
Yes, there are several ways you can do this. The most common and simple way to do this is for one family member to obtain temporary residency on some basis, and the other family members to apply based on family reunification.
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02. Is family reunification suitable for all family members?
Family reunification is reserved for closest family members – wife/husband and children/parents.
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03. Is it possible for the whole family to be co-owners of the real estate?
Yes, this is possible.
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04. Is it possible to purchase real estate before our first visit to Serbia?
Yes, we can purchase real estate in your name through Limited Power of Attorney and act as intermediaries between you and the seller of the real estate and/or real estate agency.
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05. Can I purchase land as a non-resident in Serbia?
Land can be purchased by residents of countries which have a signed de facto reciprocity agreement with Serbia.
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06. Can I purchase agricultural land in Serbia as a non-resident?
Non-residents can not own agricultural land in Serbia. However, you can register a resident legal entity and buy land through this legal entity.
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07. Can I continue my business in Serbia?
Yes, you can start a new business in Serbia and register a LLC, or open a branch office of your foreign company. You can also register an entrepreneurship. Our team is here to help you with the whole procedure.
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08. Can my kids continue their education in Serbia?
Yes, after obtaining temporary residency in Serbia, you submit an application at the Ministry of education science and technological development to balance the education they've had in the country of origin and continue their education accordingly.
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09. Can my kids have lectures in a foreign language?
Yes, some schools offer classes in English, German, French, Italian, Russian.
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10. Will I have medical insurance in Serbia as a temporary resident?
In case you are employed in Serbia you will have public health insurance, and other close family members can apply on this basis. Other than that, you can always pay for private medical insurance.
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11. How much does a yearly private medical insurance cost approximately?
There are a lot of different packages, the least expensive package goes from 70 EUR.
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12. Is vaccination obligatory in Serbia?
No, vaccination is not obligatory in Serbia.