Category: Blog articles

In recent years, the relationship between financial institutions and their clients has faced increasing challenges, creating barriers to smooth transactions for both personal and business banking needs. These problems, which affect both individuals and companies on a local and global scale, are becoming more frequent and varied.
Our team has been receiving a growing number of inquiries from clients worldwide who are encountering banking issues that fall into several key areas.

 

 

These challenges often include:

 

• Issues with opening accounts for individuals and legal entities
• Unilateral account closures by banks across various jurisdictions
• Difficulties conducting business transactions and money transfers, including complications with activity codes and the cancellation of payments—both domestic and international
• Problems with cashing bank checks in their country of issue
• Unjustified account blockages by banks
• Complications related to opening non-resident accounts and dealing with international clients who do not have resident status in the country holding their funds
• Challenges in selling, partially selling, or transferring portfolios to other banks
• Errors in the calculation of banking fees, negatively impacting clients
• Problems in asserting inheritance rights to funds or securities in foreign banks
• Losses resulting from poor investment advice and portfolio mismanagement by banks
• Financial losses due to unjustified withholding of funds or delayed posting of account deposits
• Lack of effective communication with bank officers or responsible parties
• Mistakes in executing orders to buy or sell securities, which can lead to substantial financial losses
• Inadequate understanding of a bank’s contractual and legal obligations, and the application of international regulations, potentially leading to legal complications for clients

 

 

 

These issues, and many others, can obstruct or completely prevent the normal execution of banking transactions, both locally and globally.
Addressing these problems requires not just expertise in banking, but also an understanding of the regulatory, legal, and financial environment that governs international and domestic banking activities. Our team of professionals, many of whom have held key positions within global banking institutions, is ready to assist in overcoming these challenges.

 

Additionally, legal support is often necessary. Specialized law firms experienced in banking disputes can greatly enhance the negotiation process or legal proceedings, ensuring that clients’ rights are protected.
Our team of international bankers and lawyers has extensive experience in resolving all the issues listed above, achieving successful outcomes through negotiations, litigation, or the selection of optimal banking solutions. We help clients identify suitable jurisdictions and banks that facilitate seamless business and personal banking.

 

Understanding the legal, tax, and operational aspects of banking transactions is crucial. Missteps in this area can lead to serious legal consequences and financial setbacks, particularly when dealing with foreign banks or jurisdictions.

 

 

 

 

 

Why Choose the Serbian Banking System?

 

At the same time, if you are operating in or through Serbia, you can benefit from the country’s stable and dynamic banking environment. Serbia has maintained robust economic stability, supported by favorable macroeconomic conditions.
The Republic of Serbia’s neutral stance on international sanctions has enabled its banks to remain open to business with countries such as Russia and Belarus. With its stable, cross-functional banking system, Serbia offers significant opportunities for both foreign and domestic clients.

 

 

 

Advantages of Serbian Banking:

 

• A stable banking system with 29 banks, divided into seven groups: local, EU-based, Russian, American, Turkish, and banks from the UAE and China
• Accounts available in a wide range of currencies, including USD, EUR, CHF, TRY, RUB, GBP, CAD, DKK, JPY, and SEK
• Premium banking services, such as letters of credit, bank guarantees, non-standard SWIFT payments, and back-to-back (cash deposit) loans through Serbian legal entities
• Advanced e-banking services and mobile banking, with support available in English
• Availability of major debit cards (DinaCard, MasterCard, Visa) in all variations
• Easy access to e-commerce services, including pay-by-link and other digital payment methods
• State-backed deposit insurance, with up to EUR 50,000 guaranteed per bank

 

 

 

Successful Banking Operations in Serbia:

 

Our clients have successfully conducted numerous types of cross-border and local banking operations, including:
• International commercial transactions for services (IT, consulting, marketing, logistics) and goods (e.g., food)
• International mergers and acquisitions
• Payroll management
• Transactions on behalf of parent companies without existing accounts in Serbia
• Loans and credit transactions involving non-residents
• Brokerage operations

 

 

 

 

Expert Support for Banking in Serbia:

 

Our team at the “Welcome to Serbia” association, which includes experienced bankers, in-house lawyers, and accountants, works closely with clients to ensure full compliance with regulations, particularly the guidelines issued by the National Bank of Serbia on foreign payment transactions. We streamline the process for our clients, eliminating unnecessary bureaucracy and helping them execute their business plans with ease.
With over 30 years of experience in assisting clients in Serbia, Switzerland, Russia, and Andorra, our team is uniquely positioned to offer comprehensive banking solutions in multiple languages, including English, Russian, Spanish, and Serbian.

 

Business Concierge is a service that provides personalized support to entrepreneurs and companies by taking over administrative, legal, and financial tasks that consume time and energy.
By handling complex business processes, Business Concierge allows you to focus on the key aspects of your business, while our experts manage everyday challenges. Our service is designed to improve efficiency, reduce the risk of mistakes, and enable better business decisions, whether you’re operating in the local or international market. With extensive experience and a dedicated approach, Business Concierge is the ideal partner for entrepreneurs who want to enhance their business with minimal stress.

 

 

Overcome Slow Administration

We all know how frustrating it can be to deal with administrative procedures, especially when time is money. The Business Concierge service helps you overcome sluggishness and bureaucracy by taking over time-consuming tasks. Our support enables you to focus on what matters most – your business, while we handle the administrative hurdles.

 

 

Solve Problems in Your Language

One of the biggest challenges in international business is the language barrier. Although English is widely used today, many people in Serbia still struggle to communicate with foreign partners, clients, and institutions. Business Concierge provides assistance in languages like English, Russian, Chinese and Spanish, overcoming language barriers and enabling smoother communication and business operations.

 

 

Avoid Mistakes in Calculations and State Obligations

Doing business in Serbia comes with numerous legal and tax obligations that, if not properly fulfilled, can lead to significant problems. Many clients reach out because they have failed to file the appropriate tax returns or were unaware that additional taxes need to be calculated when paying obligations abroad. Mistakes in these areas can result in heavy fines and even the blocking of company accounts. Our service helps you stay fully compliant with regulations, reducing the risk of unwanted penalties and allowing you to continue business operations stress-free.

 

 

Banking and Foreign Currency Operations

Dealing with banks and foreign currency transactions can be extremely challenging, especially when dealing with international transactions. Lack of knowledge regarding local banking regulations can lead to account freezes, delays in incoming or outgoing payments, and even sanctions on international markets. Given the constant changes in regulations, our team of experts can help you avoid these problems and efficiently manage your foreign currency operations.

 

 

Experience with International Clients and Cross-Border Operations

Operating internationally and understanding double taxation treaties can be challenging for entrepreneurs. If you’re not familiar with the specifics of these operations, you can easily make costly mistakes. Our service provides access to experts with experience working with international clients, ensuring that your company complies with all regulations and effectively manages cross-border transactions.

 

 

Human Resources

Our Business Concierge service also offers comprehensive support in managing human resources for your company. Whether you need assistance recruiting qualified local employees or relocating staff from abroad, we help you navigate the complexities of the process. Additionally, we ensure compliance with local labor laws, employee benefits, and contracts, protecting your company from potential legal issues and ensuring smooth operations in the workforce.

 

 

 

Tax Consulting and Accounting

 

Our expert tax consultants provide tailored advice to ensure that your business is optimizing its tax strategy while staying compliant with local and international regulations. In addition, our accounting services help you maintain accurate financial records, manage cash flow, and prepare financial statements, ensuring that your business runs smoothly and remains compliant with all financial regulations.

 

 

 

Legal Expertise, Locally and Abroad

With a team of legal professionals knowledgeable in both local and international law, we provide expert legal support to help navigate complex regulatory environments, whether you’re dealing with domestic contracts or cross-border agreements.

 

 

Privacy Policy and Data Protection

 

Business Concierge strictly adheres to the principles of confidentiality and data protection in its work with international companies. We guarantee that all information provided by our clients will be used solely for the provision of services and will not be shared with third parties without your consent, except in cases required by law. We take all necessary measures to protect your personal and commercial data, ensuring its security and confidentiality, to prevent the use of data for purposes that would conflict with the client’s interests and protection.

 

 

Timely Responses and Availability Outside of Working Hours

 

We understand that business doesn’t operate within standard working hours, and sometimes urgent issues arise that require quick solutions. The Business Concierge service offers timely responses and availability outside of regular hours, so you can address important matters without delay. Our specialists are always ready to provide support, regardless of the time of day, ensuring the seamless operation of your business.

 

 

 

Insurance

The Business Concierge service also assists in arranging insurance for your business. We offer solutions for various types of insurance, including liability, property, and employee insurance, to protect your company from potential risks and losses. Our experts will help you choose the optimal insurance terms that align with your business needs, ensuring its stability and security.

 

 

 

Why Choose Business Concierge?

The Business Concierge service is more than just administrative help – it’s your partner in everyday business operations. Our goal is to eliminate stress and complications, allowing you to focus on what truly matters: growing and succeeding in your business. If you want to avoid mistakes, improve efficiency, and ensure your business complies with all regulations, our team is here to assist.

Contact us today and discover how Business Concierge can elevate your business and make every step towards success easier.

While much of Europe is experiencing a decline in real estate prices, Serbia remains an exception, with prices continuing to rise. A testament to this trend is the record-breaking sale of an apartment in Belgrade, where the price per square meter reached an astonishing €11,811. But how did the average property prices in Belgrade fluctuate throughout 2024, and what can we expect in the coming year?

 

 

 

Average Property Prices in 2024

 

The average price per square meter in Belgrade varies significantly depending on the municipality and the type of property, whether it is new construction or an older building. According to data from Cityexpert, the average price per square meter in older buildings in 2024 was €2,381, while for new construction, it stood at €2,440.

 

 

 

Most Expensive Municipalities in Belgrade

 

Stari Grad, the historical and administrative center of Belgrade, unsurprisingly had the highest property prices. The average price per square meter in new developments reached €3,941, while the average for older buildings was €3,349.

On Vračar, the average price per square meter was €2,915, with minimal differences between new and old buildings. However, Savski Venac, home to the prestigious Belgrade Waterfront project, had an average price of €3,133 per square meter for older buildings, while new constructions soared to €4,361 per square meter.

 

In New Belgrade, the average price per square meter reached €2,658, reflecting an 8% increase from the previous year. New buildings in this municipality had an average price of €3,207 per square meter. In Zemun, property prices varied greatly, with an overall average of €2,067 per square meter, ranging from €1,341 to €4,125, depending on the location.

The Palilula municipality, the largest in Belgrade, saw an average price of €1,857 per square meter, but properties in the central areas of Palilula frequently exceed €3,000 per square meter.

On Zvezdara, the average price per square meter for all sold properties was €2,045, while Vozdovac, known for its diverse real estate offerings, had an average price of €2,775 per square meter.

In Čukarica, new constructions were priced at €2,534 per square meter, while older buildings averaged €1,909 per square meter. Rakovica remained the most affordable municipality in Belgrade, with an average property price of €1,838 per square meter in 2024.

 

 

 

Lower Real Estate Prices Outside of Belgrade

 

Traditionally, real estate prices outside Belgrade are significantly more affordable. Some of the most budget-friendly locations include Zrenjanin, Subotica, Paraćin, Ruma, and Despotovac. For instance, Zrenjanin property prices range from €798 to €1,464 per square meter, while Paraćin offers prices between €685 and €1,255 per square meter. In Vranje, the average property price is approximately €995 per square meter.

Conversely, tourist hotspots continue to hold high prices. The average price per square meter for older apartments on Zlatibor is around €2,000, while in Kopaonik, the average listing price is €2,190, with most properties selling within two months. Sokobanja, once known for its affordable prices, has seen values rise to €1,680 per square meter, and Vrnjačka Banja is also experiencing increasing investor interest.

 

 

 

Predictions for 2025: Will Prices Keep Rising?

 

Experts from the real estate industry highlight that the most in-demand apartments remain those between 45 and 67 square meters, typically one-bedroom or small two-bedroom units. Over the past four years, real estate prices in Serbia have increased by 20-30%. In new developments, prices range from €1,600 on the outskirts to €2,500 in central locations.

According to market analysts, the rate of price increase slowed down in comparison to 2021 and 2022. A moderate price increase is expected for 2025, likely a few percentage points, but a sharp price drop is not anticipated.

Unlike Western economies, Serbia does not have a highly developed stock market, which means that a significant portion of capital is invested in real estate. In 2023, the Belgrade Stock Exchange recorded a turnover of only €170 million, while the real estate market turnover exceeded €7 billion, with over 70% of investment capital in Serbia directed towards real estate.

 

Experts suggest that the best solution for stabilizing the market would be to redirect investor demand from real estate towards capital markets. However, at present, real estate remains the preferred investment option.

Some real estate agents note that a price decline may occur if the market reaches saturation. However, factors such as inflation and rising material costs could offset this trend, making it difficult to predict a precise moment when a real decrease in prices might happen.

Who Is Liable for Property Tax in Serbia?

According to Serbian tax regulations, the obligation to pay property tax applies to both legal entities and individuals, regardless of whether they are residents or non-residents in Serbia. A taxpayer is any entity that holds ownership rights, usage rights, or possession over real estate in Serbia. The tax applies to properties valued above 400,000 RSD, except in cases where exemptions are granted under special provisions, such as for diplomatic missions, religious institutions, and foundations.

 

In instances where a property has multiple owners but ownership shares are not explicitly defined, for tax purposes, it is assumed that all owners hold equal shares of the property.

 

 

 

 

Categories of Property Taxpayers

 

Taxpayers liable for property tax include:

1. Self-employed individuals generating income under personal income tax regulations, including entrepreneurs taxed on a lump sum basis;
2. Entities not required to maintain business records under Serbian law;
3. Entrepreneurs maintaining business records, but only for properties not recorded in their accounting books.

 

 

 

 

How Is Property Value Determined for Taxation Purposes?

 

The tax base for property tax is determined by the local self-government authorities, which oversee assessment, collection, and control of property tax revenue. The assessed value of real estate, excluding land, can be depreciated at a rate of up to 1% per year, with a maximum depreciation of 40%, calculated based on the year of construction or the most recent renovation. The depreciation rate is set by local government decisions and must be officially published before December 15 of the preceding tax year. If no depreciation rate is set or published, depreciation is not applied.

 

 

 

 

Factors in Property Value Assessment

 

The assessed value of real estate is determined based on:

1. Usable area of the property;
2. Average price per square meter of comparable properties within the same zone.

 

 

 

 

When Does Property Tax Obligation Begin?

 

The obligation to pay property tax arises on the earliest of the following dates:

• The date of acquiring ownership or usage rights;
• The date of taking possession of the property;
• The date of commencing usage;
• The date of obtaining an occupancy permit;
• The date on which the property is otherwise made available for use.

 

If a property is under construction and does not yet have an occupancy permit, the tax obligation begins when usage commences or when the property is deemed fit for use.

 

 

 

 

Property Tax Rates in Serbia

 

• For legal entities maintaining business records: up to 0.4%
• For landowners who do not maintain business records: up to 0.3%

 

 

 

 

Progressive Tax Brackets for Property Value

 

1. Properties valued up to 10 million RSD: up to 0.4%;
2. Properties valued between 10 million and 25 million RSD: Base tax from (1) + up to 0.6% on the excess value;
3. Properties valued between 25 million and 50 million RSD: Base tax from (2) + up to 1% on the excess value;
4. Properties exceeding 50 million RSD: Base tax from (3) + up to 2% on the excess value.

 

 

 

 

Tax Reduction for Residential Property Owners

 

A taxpayer residing in their own property may qualify for a 50% tax reduction, with a maximum deduction of 20,000 RSD. If multiple individuals share ownership, each resident co-owner receives a proportional deduction based on their ownership stake.

 

 

 

 

Payment Deadlines for Property Tax in Serbia

 

Property tax is paid in four equal installments, due by the 15th of February, May, August, and November.

 

 

 

 

Digital Access to Property Tax Information

 

Since 2019, taxpayers can access real-time property tax information through the Unified Information System for Local Tax Administration. This platform provides businesses and individuals with an overview of all tax liabilities in Serbia and enables the electronic submission of property tax declarations.

 

From February onwards, an electronic payment service is also available, making tax compliance significantly easier, particularly for legal entities that must submit annual tax reports.

Establishing a Limited Liability Company – LLC in Serbia offers numerous benefits for entrepreneurs and investors seeking to operate between East and West. Below are the key advantages:

 

 

 

1. Legal Status Without Sanctions

Serbia enjoys a unique legal position: it faces no sanctions from Western countries, while also maintaining a friendly status with Russia, as it has not imposed any sanctions on the Russian Federation. This positioning allows seamless business operations with countries affected by various international restrictions.

 

 

 

2. Multi-Currency International Transactions

Companies registered in Serbia can conduct international transactions using a broad range of currencies, including Russian rubles (RUB), Chinese yuan (CNY), Turkish lira (TLR), and Arab dirhams (AED), alongside traditional currencies like euros (EUR), US dollars (USD), Swiss francs (CHF), and British pounds (GBP).

 

 

 

3. Free Trade Agreements

Serbia has signed Free Trade Agreements (FTAs) with major trading partners, including the EU, Russia, China, Turkey, and other key markets. Most imported goods enter Serbia duty-free, and exports to these countries are exempt from customs duties, creating a highly favorable trade environment.

 

 

 

4. Visa-Free Business and Personal Travel

Serbia offers a visa-free regime with numerous countries, including the United States, EU, United Kingdom, China, and Russia. This simplifies the process of organizing business meetings and personal travel, including cases where individuals from different nationalities (e.g., French and Russian citizens) seek to marry but face visa restrictions in each other’s home countries.

 

 

 

5. Easy Residency and Banking Services

Obtaining temporary residence in Serbia is straightforward, as is acquiring a Serbian address and personal bank account. With a Serbian residence, individuals can receive payments in nearly all global currencies, facilitating business operations and daily transactions.

 

 

 

6. Competitive Tax Rates and Incentives

Once a company is registered, Serbia provides competitive tax rates and benefits through its Double Taxation Avoidance Agreements (DTTs). Entrepreneurs can optimize tax burdens and enhance their financial efficiency. Serbia’s personal income tax rate is 15%, and corporate profit tax is also 15%.

 

 

 

7. Free Trade Zones

Serbia operates 15 Free Trade Zones, allowing investors to work without customs duties and other import taxes for goods intended for free zone operations. Additionally, businesses within these zones are exempt from VAT on goods and services traded within the zones, leading to significant cost savings.

 

 

 

8. SEPA Payment System and No CRS Reporting

Serbia is part of SEPA (Single Euro Payments Area), enabling efficient EU transactions. Furthermore, Serbia is not part of the Common Reporting Standard (CRS), providing greater privacy and flexibility in financial transactions.

 

With these advantages, Serbia serves as an ideal hub for EU-based companies looking to expand their business, optimize taxes, and benefit from a strategic international position.

 

 

For more information about establishing an LLC in Serbia, or if you need our assistance with company formation, please contact us.

When purchasing an apartment or house in Serbia, potential buyers may encounter situations where the property lacks a usage permit, even if it appears to meet all other conditions. This raises a key question—can such a property be purchased, and what are the potential risks for the buyer?

A usage permit is a crucial document that confirms the property has been built in compliance with all applicable laws and is ready for legal occupancy. Without this document, the property cannot be officially inhabited, which could lead to serious legal and financial consequences for the buyer. Despite this, properties without a usage permit remain available on the market, especially in cases of buildings under construction.

 

 

 

Procedure for Purchasing Property Without a Usage Permit

 

Purchasing a property without a usage permit typically begins with signing a preliminary contract that defines the terms of sale and specifies the subject of the agreement. In this process, the construction permit plays a key role, as it allows the identification of the property, even if it has not yet been completed.

However, without a usage permit, the property cannot be legally utilized. Buyers face legal risks, as the completion of construction and issuance of the permit are not always guaranteed. It is essential for buyers to thoroughly review all available documentation, including the construction permit, construction start notifications, and other relevant papers, before signing any agreements.

 

 

 

Importance of Construction and Usage Permits

 

Construction and usage permits form the foundation of lawful construction, adaptation, and acquisition of property ownership. These permits not only confirm that the property was built in accordance with the law but also provide legal security to the owner.

• A construction permit authorizes the start of construction and confirms that the work complies with technical and legal requirements.
• A usage permit certifies that construction has been completed and that the property can be legally used and registered as ownership.

Without these permits, any construction on the property is considered illegal, and the owner may face serious legal consequences. For instance, a property without a usage permit cannot be officially registered in land registries, denying the owner legal security and complicating future sales or inheritance of the property.

 

 

 

Legal Security and Consequences of Missing Permits

 

Under Serbian real estate laws, valid public documents are required for the registration of ownership rights. Without a construction and usage permit, a buyer risks investing in a property that cannot be legally registered, opening the door to potential legal disputes.

The law stipulates that ownership rights can only be acquired through construction if all work is performed under the proper permits. A lack of these documents exposes the owner to legal challenges, as their ownership could be disputed.

 

 

 

 

Conclusion: The Importance of Legal Security When Purchasing Real Estate

 

Purchasing real estate without a usage permit carries significant risks. Without this crucial document, the property cannot be legally used, registered, or sold. All potential buyers should make extra efforts to verify the documentation to ensure the property complies with all legal requirements.

For property owners, holding valid construction and usage permits not only ensures the legality of the property but also provides legal security, making it easier to manage, sell, or transfer the property. Therefore, consulting with legal and financial professionals is essential before making a decision to purchase such properties.

Serbia has been gaining traction as a favorable destination for crypto businesses for several reasons, especially when the value of cryptocurrencies is on the rise:

 

 

1. Regulatory Framework

 

• Serbia has enacted a legal framework for cryptocurrencies, particularly through the Digital Asset Law implemented in 2021. This law provides clarity and legitimacy to the use and trading of digital assets, making it attractive for businesses.
• The framework regulates crypto trading, mining, issuance, and other related activities, fostering trust and reducing uncertainties for businesses and investors.

 

 

 

2. Tax Benefits

 

• Serbia offers competitive tax rates on cryptocurrency activities:
• Gains from cryptocurrencies are taxed at a lower rate compared to many Western European countries.
• Certain exemptions and deductions may apply for long-term investments in digital assets.
• Businesses dealing with cryptocurrencies may find a more favorable tax environment compared to other jurisdictions.

 

 

 

3. Skilled Workforce

 

• Serbia is home to a growing pool of skilled IT professionals and blockchain developers. The country has a strong tech education system and a thriving startup culture, providing crypto businesses with access to talent for innovation and development.

 

 

 

4. Affordable Costs

 

• Operational costs in Serbia, including salaries, office rentals, and utilities, are significantly lower than in many Western countries. This cost advantage can help crypto businesses scale operations more efficiently.

 

 

 

5. Pro-Crypto Community and Ecosystem

 

• Serbia has an active crypto community with regular meetups, conferences, and hackathons, creating a collaborative environment for innovation.
• The ecosystem supports startups and entrepreneurs, with venture capital and accelerators showing interest in blockchain-based projects.

 

 

 

6. Strategic Location

 

• Situated at the crossroads of Europe, Serbia offers easy access to both EU and non-EU markets. This strategic location can be advantageous for crypto businesses targeting a broad customer base.

 

 

7. Energy for Mining

• While Serbia doesn’t have the cheapest electricity globally, its rates are competitive, particularly for industrial use. This can make crypto mining operations viable, especially during bullish markets when profitability increases.

 

 

 

8. Government Support

 

• The Serbian government has shown an openness to new technologies and innovation. Efforts to promote digital transformation and blockchain adoption align well with the interests of the cryptocurrency sector.

 

 

 

9. Banking and Payment Integration

 

• The introduction of regulations has enabled partnerships between crypto businesses and traditional financial institutions, making it easier to integrate payment systems and facilitate transactions.

 

 

 

10. Rising Interest During Bull Markets

 

• As the value of cryptocurrencies rises, interest in crypto-related activities grows. Serbia’s clear legal framework and cost advantages position it as an attractive hub during these periods of increased activity.

 

 

By combining legal clarity, a tech-savvy workforce, and a cost-effective business environment, Serbia presents a compelling case for crypto businesses, particularly during bullish markets when opportunities for growth and profitability are abundant.

 

Welcome to Serbia team can provide you with the practical know-how to start your Serbian cryptocurrency business or exchange. We are doing it now in compliance with current laws, and we have more than 10 clients who already have their own cryptocurrency business in Serbia. We will help you build a successful cryptocurrency business.

 

Please contact us for more information.

Strategic Partnerships of Serbia: Impact on Economy, Investments, and International Relations

 

Strategic partnerships are formal agreements between two or more countries that establish a special framework for cooperation in areas of mutual interest. These agreements often go beyond traditional trade contracts as they encompass long-term political, economic, investment, and technological aspects of cooperation. The goal is to strengthen mutual ties and create a more favorable environment for investments, trade, and joint project development.

 

Unlike ordinary trade agreements, strategic partnerships focus on long-term benefits. This includes increasing the level of foreign direct investments (FDI), providing access to more favorable import and export conditions, as well as granting fiscal incentives for companies from partner countries. Serbia leverages these partnerships to enhance competitiveness, secure access to new markets, and attract strategic investors from around the world.

 

 

 

Key Differences Between Strategic Partnerships and Free Trade Agreements

 

Although they are often confused, free trade agreements and strategic partnerships have key differences. Free trade agreements focus on eliminating customs and trade barriers between countries, while strategic partnerships have a broader scope. In addition to economic cooperation, strategic partnerships include collaboration in security, energy, technology, and strengthening institutional ties.

 

 

 

Overview of Serbia’s Strategic Partnerships – Key Partners: From Europe to Asia

 

Over the past 15 years, Serbia has concluded a total of nine strategic partnerships with countries from diverse geopolitical and economic backgrounds. European partners include Italy, France, Greece, and Hungary, while global partners include China, Russia, Egypt, Azerbaijan, and the United Arab Emirates (UAE).

 

These agreements are not always identical in nature, as they are tailored to the specifics of cooperation with each partner country. For example, the partnership with Italy is primarily focused on industrial production and the automotive sector, while the partnership with the UAE is more oriented towards infrastructure projects and energy.

 

 

 

Timeline of Strategic Partnerships: From 2009 to Present

 

Serbia established its first strategic partnerships in 2009 with Italy and China. Since then, agreements have been signed with seven more countries, with the most recent partnership being with the UAE, confirmed by the signing of a Comprehensive Economic Partnership Agreement (CEPA) in 2023.

Chronologically, the most intense period for forming these partnerships was between 2010 and 2023, during which Serbia underwent significant changes in its foreign policy and strategy for attracting foreign investments.

 

 

 

Impact of Strategic Partnerships on Serbia’s Economy

 

Strategic partnerships directly influence the fiscal incentives that Serbia provides to foreign companies. These incentives include lower corporate income tax rates, tax exemptions in special free zones, and the possibility of reimbursement for a portion of investments through various subsidies. Tax policy is adjusted to increase Serbia’s attractiveness as an investment destination, which is especially evident in partnerships with Italy, China, and the UAE.

 

For example, companies operating in Serbia’s free zones often enjoy VAT and customs duty exemptions, making them more competitive in the global market. This strategy attracts multinational companies to set up production centers in Serbia.

 

 

 

 

Economic Effects: GDP, Employment, and Fiscal Revenues

 

The impact of strategic partnerships on Serbia’s economy is measured using key indicators such as the growth of gross domestic product (GDP), the creation of new jobs, and the increase in fiscal revenues.

According to data from 2023, there are over 1,200 companies in Serbia with Italian capital, employing more than 50,000 workers and accounting for 5.5% of the country’s total GDP.

Investments from China have also significantly boosted Serbia’s exports, as Chinese companies in the steel production and mining sectors contribute to the country’s export revenue. The expansion of production in factories such as Linglong further strengthens Serbia’s export capacity.

 

 

 

Partnerships with European Countries

 

Italy: The Longest Partnership and the Most Companies

 

The partnership with Italy began in 2009 and is now one of the most significant for Serbia. With more than 1,200 Italian companies operating in Serbia, Italian capital employs over 50,000 workers across various industries.

 

 

France: Investments in Infrastructure and the Energy Sector

 

French companies play an essential role in Serbia’s infrastructure sector, particularly in the construction of the Belgrade metro, and are also actively involved in energy projects, especially those related to green energy.

 

 

 

 

Conclusion: How Strategic Partnerships Shape Serbia’s Future

 

Serbia’s strategic partnerships with key global and regional players provide significant economic and political benefits. These partnerships not only attract foreign direct investments (FDI) but also strengthen Serbia’s role on the international stage. The focus on the development of free zones, the adjustment of tax incentives, and the improvement of immigration policies further increase Serbia’s attractiveness to investors.

 

In the coming years, Serbia is expected to expand its network of strategic partnerships, particularly with countries like Germany, the USA, and African nations. These partnerships have the potential to contribute to the growth of fiscal revenues, reduce unemployment, and increase exports. Serbia has a unique opportunity to position itself as a key economic partner in the region and beyond.

People who own large businesses can not do business alone and often need helpers who will take on some of the financial and non-financial concerns. The demand for the services of such consultants was the reason for the emergence of family offices.

 

A family office provides a wide range of services tailored to meet the needs of the clients.

 

Professional services provided by an experienced team of professionals

 

Providing advice and services for the clients under a comprehensive management plan is far beyond the capacity of any professional advisor. It requires a well-coordinated, collaborative effort by a team of professionals from the legal,  business, and tax disciplines to provide the scale of planning, advice, and resources needed. 

 

A team of high-level specialists gathers in the family office. These are lawyers, financiers, accountants, analysts. For the clients, this kind of teamwork is much more convenient and effective than obtaining separate services from some organizations and experts. 

 

The family office sees the complete financial picture and manages all projects in the complex. 

 

Meeting each other is a beginning, staying with each other is progress, and collaborating with each other is success. 

 

 

Family Office Services in Serbia:  To your needs

 

Managing significant wealth or a large business is no easy task. It often requires more than just personal effort—it calls for professional expertise to navigate the complexities of both financial and non-financial matters. That’s where family offices come in. These specialized organizations are designed to  to support affluent individuals and families by providing comprehensive solutions that streamline management and support strategic growth.

 

 

What is a Family Office?

 

A family office is your all-in-one hub for expert services, designed to manage every aspect of your wealth and personal affairs. From financial management and legal advice to business structuring, a family office handles it all. It’s built around you, offering a personalized, integrated approach that ensures every aspect of your wealth and personal management works together seamlessly.

 

 

A Team of Experts Working Together

 

Let’s be honest: no single advisor can address every challenge that comes with managing wealth and businesses. A family office assembles  a team of specialists—lawyers, financial experts, accountants, and analysts—all working in sync to create a detailed plan for your needs.

What’s the big advantage? Efficiency and convenience.Instead of coordinating with multiple service providers, everything you need is under one roof. This integrated approach ensures smarter, more cohesive planning and execution.

 

 

Welcome to Serbia: Your Trusted Partner in Wealth Management

 

At Welcome to Serbia, we specialize in offering world-class family office services tailored to meet your specific needs. Whether it’s business structuring, inheritance planning, immigration assistance, or more, our team delivers bespoke solutions with care and expertise.

We embrace a philosophy of partnership: meeting you is the beginning, collaborating is progress, and achieving your goals is success. Our mission is to exceed your expectations and make your journey smooth and rewarding.

 

 

 

Why Work With Us? Here’s What Sets Us Apart

 

 

1. Save Time, Effort, and Money

With all experts in one place, you avoid the hassle of coordinating with multiple service providers.

 

2. Truly Personalized Service

We treat each client’s needs as unique—just like family would.

 

3. Around-the-Clock Support

Got an urgent matter? Or just a routine question? We’re available 24/7 to help.

 

4. Family-Focused Assistance

Our services don’t stop with you—we also ensure your family’s needs are fully addressed.

 

5. Dedicated Management Team

Each client gets a dedicated team of managers (two junior and one senior), ensuring personalized care.

 

6. Capital and Inheritance Protection

Expert advice on safeguarding your assets and planning for future generations.

 

7. Legal Expertise, Locally and Abroad

Access robust legal protection through our extensive global network.

 

8. Government Liaison Services

We handle communication and problem-solving with government authorities on your behalf.

 

9. Immigration and Relocation Support

Moving to Serbia—or anywhere else? We’ll help you settle in smoothly.

 

10. Passport Assistance

We offer specialized help with passport applications and procedures.

 

11. Tax Consulting

From personal to corporate taxes, we offer expert guidance to help you navigate the complexities.

 

 

12. Business Structuring Guidance

We help you build the right business framework, whether in Serbia or internationally.

 

13. Multilingual Support

We communicate in multiple languages, so there’s no barrier to solving your challenges.

 

14. All-in-One Services

From legal to financial assistance, we’ve got you covered—though we don’t provide direct medical services, we can help organize healthcare solutions.

 

15. Insurance and Medical Treatment Abroad

We arrange medical treatment and insurance abroad to ensure you’re fully covered.

 

16. Document and Item Delivery

Urgent or standard delivery of items across countries, always legally compliant.

 

17. Company Management Services

We’ll handle the day-to-day management of your business for maximum efficiency.

 

 

 

Your One-Stop Solution for Managing Wealth and More

 

At Welcome to Serbia, we believe in combining professionalism with a personal touch. By offering every service you need under one roof, we save you time, simplify your life, and ensure a seamless experience.

If you аre looking for support to simplify the management of your wealth, business, and personal affairs, we are here to help.
With our expertise, you can trust that every step of the process will be handled with care and precision.

 

 

If you want to conduct business while staying protected and ensuring your uniqueness is recognized, we are pleased to offer you our trademark registration services. Our team of experts provides clear guidance and support throughout the process.

 

Why should one register and protect a trademark? This is one of the most common questions we receive from clients.
The advantages of trademark protection and registration are numerous, and we would like to highlight a few key benefits:

 

1. Recognition in the market,
2. Protection for your product or brand,
3. Differentiation from the competition,
4. Preservation of your business’s reputation,
5. A trademark helps you stand out in the market and facilitates communication with potential clients.

 

 

To complete trademark registration in Serbia and beyond, it is necessary to conduct a search in the Intellectual Property Office register before the actual registration. We are here to submit the registry search request on your behalf and recommend the best possible solution based on the report we receive. The entire procedure is conducted electronically.

 

After receiving the report from the Intellectual Property Office, we can proceed with the registration of the preferred trademark.
The registration process involves filling out specific forms and submitting the required information from the client, all of which is done electronically. Please note that administrative fees are not included in the service price and will be paid by the client according to the payment slips we provide. A fee is required for processing the registration request with the Intellectual Property Office, and you will receive a confirmation within 24 hours indicating the request number. The Intellectual Property Office will decide on the fulfillment of the requirements for trademark registration within six months.
Once the trademark registration request is approved, the fee will need to be paid according to the decision received, covering a period of ten years.