Starting on 17 May 2023, the new regulation that prescribes mandatory online incorporation came into force.
In accordance with the amendments to the Law on the Registration Procedure from 2021, the Serbian Business Registers Agency (SBRA) was already obliged to accept applications for the establishment of businesses in an electronic form, which is in line with the concept of e-administration and digitization of the entire economy of Serbia. Now the SRBA went a step further with a mandatory application of the rule.
However, applications for data changes will still be submitted in a paper form to the SBRA, as before, but the director of the SBRA announced that these electronic applications will be introduced in the foreseeable future, once all technical prerequisites are met.
Benefits
With the online company registration, the costs and the time for establishing a company are drastically reduced having in mind that this is a mandatory step, the level of services for citizens is improved and expanded, and the processing time of requests by the SBRA is reduced. Also, this system makes it easier to modify and amend or even withdraw the submitted applications or accompanying documents.
In practice, this means that as of May 17 it is no longer be possible to submit an application for the establishment of a company to the SBRA in a paper form. Applicants will have to have an account with 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 submit these applications for incorporation through their representatives (such as law firms) in Serbia who have accounts with the SBRA and have qualified electronic certificates. Also, last but not least, this development removes a need for costly notarization of the most documents and shipping of originals to Serbia.
An official update from the SBRA: https://www.apr.gov.rs
Please contact us in case of any inquiries at serbia@odilaw.com.
