Work Abroad

Prospects for Industry in Serbia

Serbia finished 2019 with stunning financial success. In terms of direct investment, it is firmly in the first place (1.9 billion euros for the first half of 2019). Moreover, the European Union and the United States of America, as well as China and Russia, are interested in the country’s development.

Serbia’s recent economic problems (at the end of 2014) have been fully resolved. But the state did not stop there. The country received a huge financial boost, which led to stable economic growth.

Now the Serbian government continues to actively implement reforms, strengthen the industry and cooperate with developed countries. Therefore, it is rightly called a friendly and neutral country. And this neutrality is rewarded a hundredfold.

Prospects for Serbia’s industry

The last boom in the industry was in lithium stocks. The fact is that Serbia is located on the largest reserves of lithium in Europe. And lithium is the base metal for producing batteries for electric vehicles.

Rio Tinto is also betting on the production of lithium: the company has already invested $ 200 million in the study of the object near Loznitsa. The company’s General Manager promises that it will be the largest supplier of lithium in Europe.

In addition, in Serbia, lithium will be processed almost on the spot. There is no need to pay for transport because the country is implementing the battery manufacturing and exporting electric cars.

It is worth adding to the list of possibilities the published project for the reconstruction and expansion of the processes of the copper foundry from the company Zijin Bor Copper. The capacity is planned to reach a qualitatively new level; the production of copper cathode from 80,000 to 150,000 tons per year, with further expansion to 200,000 tons per year.

For the purpose of this project, there is an increase in the level of environmental protection and the updating of obsolete equipment.

Company registration in Serbia

A limited liability company is a form of company with the most attractive requirements for opening. The founders are responsible in proportion to their contribution to the company’s authorized capital.

The authorized capital itself can be at least 1 Euro. However, it is recommended to make it at least a few more.

A foreign individual or legal entity can register a company. You can perform the procedure remotely if you use a power of attorney.

The founder can own and manage the company alone. The position of Director is similar; it can be held by a foreigner, or the President of Serbia, or by one or more people.

For any Serbian company, it is important to register a legal address and maintain full accounting records. Therefore, you should not neglect the search for a responsible accountant.

If you have the opportunity and desire, you can complete the registration procedure in 3-4 business days, but this will require a personal visit. Our office in Serbia will provide you with advice and answers to any question.

If you plan to register remotely, you must issue a power of attorney and translate it into Serbian. In this case, the registration process takes up to 7 business days.

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