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flag Serbia Serbia: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

 The"drustvo sa ogranicenom odgovornoscu" (d.o.o.) corresponds to a limited liability company
Number of partners: One or more.
Capital (max/min): RSD 100 (EUR 1).
Shareholders and liability: The liability of members is up to the value of their investment.
 The"akcionarsko drustvo" (a.d.) corresponds to a public limited company
Number of partners: Minimum 2 shareholders, maximum 100 for a closed a.d. , no maximum for an open a.d.
Capital (max/min):  Equivalent of 10 000 euros minimum for a closed a.d., 25 000 euros for an open a.d.
Shareholders and liability: Their liability is limited to the amount of capital contributed.  
 The"ortacko drustvo" (o.d.) corresponds to a general partnership
Number of partners:  Minimum 2 partners.
Capital (max/min):  No minimum capital required.
Shareholders and liability: Their liability is joint and indefinite.  
 The"komanditno drustvo" (k.d.) corresponds to a limited partnership
Number of partners:  Minimum 2 partners
Capital (max/min):  No minimum capital
Shareholders and liability: The liability of the active partners is unlimited. The liability of the silent partners is limited to the amount of capital contributed.  
The Competent Organization
The Serbian Business Register Agency.
Search a Company or a Financial Report
Serbian Business Register Agency
 
Setting Up a Company Serbia Eastern Europe & Central Asia
Procedures (number) 6.0 6.0
Time (days) 12.0 14.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Serbia.
Trade Register

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The Active Population in Figures

201120122013
Labor force 3,210,0002,860,0001,703,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -54.20%54.80%
Men activity rate 62.80%42.00%63.40%
Women activity rate 45.90%42.00%46.50%

Source: UN - United Nations

 

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Working Conditions

Legal Weekly Duration
40 hours. A reduction of working hours may be signed between the employer and the employees with a minimum of 36 hours a week.
Retirement Age
65 for men and 60 for women, provided they have worked for 15 years.
63 for men and 58 for women, provided they have worked for 20 years.
53, provided men have worked for 40 years and women for 35 years.
Working Contracts
The employer is obliged to sign a collective agreement, unless there is no representative Union or, temporarily, if there is no agreement about the collective agreement within 60 days following the start of negotiations. In both these cases, the employer must draw up a book of rules, which must conform to the contracts and to the Law.


Any person over 15 and in good general health can be employed. The work contract may be fixed-term, for a year maximum, or open-ended. A work contract may be drawn up for part-time work, and in that case social security contributions are calculated proportionally to the time worked. It is possible to employ trainees, for a year maximum.


The law concerning work has greatly evolved over the last five years. Measures have been taken to make the labor market more flexible; up to now it had mostly favored employees : now hiring and firing have been made easier, maternity leave shortened. Amendments to labor law are expected in the coming months.

Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
RSD 17,680 per month (source: ILO, 2011).
Average Wage
The average monthly gross earnings in Serbia is RSD 43,000 (EUR 460).
Social contributions
Social Security Contributions Paid By Employers: 19.9% (pension disability insurance: 13%; health insurance: 6.15%; and unemployment contributions: 0.75%).
Social Security Contributions Paid By Employees: 19.9% (pension disability insurance: 13%; health insurance: 6.15%; and unemployment contributions: 0.75%).

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Social Partners

Social Dialogue and Involvement of Social Partners
The Confederation of Serbian Autonomous Unions is the oldest Union.
Unions
United unions: Nezavisnost
Unionization Rate
Serbia has become the legal successor to the union of the States of Serbia-and-Montenegro, which ceased to exist in June 2006, when Montenegro voted its separation from Serbia after a fiercely disputed referendum. Dissension concerning the future of the Kosovo region intensified in October when the Albanian majority in Kosovo boycotted the Serbian referendum on the constitution and the future of the region.

The EU and NATO criticized Serbia for not having caught people suspected of war crimes. However, this did not stop Serbia being admitted to the NATO Partnership for Peace Program in December. Arrears of salary continue to be a serious problem and low wages have been behind mass demonstrations of police and railway employees.

Labor Regulation Bodies
The site of the Serbian Ministry of Labor (in Serbian)
The site of the ILO

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Last Updates: October 2014