online.ru@welcometoserbia.org
Special Permits in Serbia
Licenses for the Companies (Businesses) in Serbia
In order to start most of businesses in Serbia, it is enough to be formally entered in a relevant register, i.e. to be formally registered with a competent institution. However, in order to perform certain activities, due to their special nature, it is necessary to obtain an additional approval. In Serbia, licenses are issued by competent institutions after the submission of a request.
That way, in order to, for example, perform educational activity, all educational institutions, from elementary schools to faculties, as well as other institutions performing the activity of adult education, shall first obtain a permit issued by the Ministry of Education, Science and Technological Development. The special permit is also required for psychological counselling centres, as well as adult foster care home, in case it is an entrepreneurial activity. A permit issued by a local government unit is required for the performance of the activity of social protection for older people and people with special needs (in-home support).
When it comes to the insurance agent and brokerage activities, they require a license issued by the National Bank of Serbia. In order for you to register as a bankruptcy manager, it is necessary to obtain the licence. On the other hand, in order to perform the public bailiff activity, it is necessary to obtain a permit issued by the Ministry of Justice. Customs representation and audit activities also require a special permit.
In order to perform the taxi driver activity, it is necessary to obtain a permit issued by a local government unit, while the private security activities require a permit issued by the Ministry of Internal Affairs. A permit to work in an employment agency is issued by the Ministry of Labour, Employment, Veteran and Social Affairs in case certain conditions have been met. Apart from these, special permits in Serbia shall be obtained for the following activities as well:
- Providing services related to cryptocurrencies
- Real estate business
- Performing pharmacy, medical practice and health care activities
- Investment funds, venture capital funds
- Payment institutions
- Broker-dealer activities
Licences in Serbia for the provision of services related to cryptocurrencies
The Law on Digital Assets prescribes the obligation of the service provider to obtain the permit for providing services related to digital property, i.e. crypto license issued by the competent authorities. The license shall be issued before starting to provide the services. Depending on the type of digital assets, crypto licenses in Serbia are issued by the National Bank of Serbia and the Securities Commission.
The Legislator defines the minimum financial, technical and organisational standards, while the competent authority gives approval to the selection of the members of the service provider management. In order for a legal entity to obtain special permits in Serbia, it is necessary to provide the minimum capital in the amount of EUR 20,000-125,000, depending on the services that it wants to provide.
Special permits in Serbia for real estate brokerage activity
The Law prescribes the obligation to enter a legal entity into the Agent Register. The final decision on that is adopted by the competent minister within 30 days. After that, it is possible to start performing the real estate brokerage activity. The Law prescribes basic conditions for entering the legal entity into the Register, including adequate business premises, insurance contract, as well as professional competence of at least one person, who is the founder or an employee. Professional competence for the performance of real estate brokerage activity is determined based on a professional exam.
Licenses required to perform pharmaceutical activities
Before opening a pharmacy, it is necessary to obtain a permit issued by the Ministry of Health. This is also required for the activities related to medical and dental practice, as well as health protection. A competent inspector shall check if the conditions related to the staff competence, building adequacy, acoustic and thermal insulation, waterproofing, access to the electrical grid, appropriate indoor temperature (18-25°C), etc. have been met. The pharmacy shall display the inscription “Pharmacy”, name and surname of a pharmacist in charge, as well as the pharmacy symbol, i.e. one of the following symbols: bowl with a snake, scales, mortar and pestle, white, i.e. green cross.
When it comes to veterinary and agricultural pharmacies, these require special permits issued by the Ministry of Agriculture, Forestry and Water Management. In order to produce pharmaceutical products, it is necessary to obtain a document confirming that conditions regarding the production of a specific medication have been met.
Special permits in Serbia related to investment funds
A management company and portfolio manager, who have previously been given the permit by the competent Commission, perform organization and management activities and adopt decisions on investing the investment fund assets. The management company shall meet the minimum organizational, staff and technical requirements, prescribed by the Commission. Monetary part of the management company capital stock is at least EUR 125,000 but that part can be kept as securities during the operation of the company. The management company shall engage at least one portfolio manager to manage the investment fund.
It is prescribed by the Law that venture capital funds that invest their assets into start-ups and companies in the early stages of their development shall be managed by the management company.
The management company shall determine an investment strategy and guarantee that the venture capital fund meets all the required conditions. In addition to the requests for the issuance of the permit for the venture capital fund, the management company shall submit a request for the issuance of the permit for the depository in charge of preserving the fund assets, monitoring cash flow and operation. The depository can be a credit institution headquartered in Serbia, which has the Commission’s permit for a specific fund.
Requirements for obtaining payment institution licenses in Serbia
A company that intends to provide payment services, such as payment institution, shall submit the request to the National Bank of Serbia in order to obtain a licence in Serbia. The request shall be supported by a list of payment services, memorandum of association, a proof that they have the prescribed amount of seed capital (at least EUR 20,000-125,000) at their disposal, description of the organisational structure, procedure and internal control and internal audit mechanisms, information about the future management, etc.
How to open a brokerage company in Serbia?
The request for the permit to perform broker-dealer activity shall be submitted to the Commission, along with the memorandum of association, operating rules, tariff rulebook and a proof of fulfilment of the conditions such as minimum capital stock, staff, technical and organisational competence.
For the purpose of performing dealing activities, brokers shall have the broker license issued by the Securities Commission. A licenced brokerage company can open brokerage online accounts for its clients, i.e. brokerage investment accounts that are used to buy and sell securities.
Other activities requiring special permits
In order to provide public utility services, perform motor freight transportation, road maintenance, market activity, provide parking services and perform other activities of public importance, it is necessary to conclude a contract with the competent local government unit. A special permit is required for the provision of postal services, setting up wireless network for rebroadcasting cable channels, radio programs and providing Internet services. The condition for performing activities related to excisable goods (coffee, alcohol, cigarettes, oil derivatives) is to have previously obtained permits.
The permit is also required for building engineering and construction, manufacturing and selling weapon and military equipment, manufacturing and using particularly hazardous chemicals, as well as mining. Of course, there are other activities requiring a licence and some of them are energy-related activities. In relation to these, the Energy Law precisely determines conditions as well as types of energy-related activities requiring special permits.
For any additional and detailed information about special permits related to your activity, as well as the conditions that shall be fulfilled in order to start a business in Serbia, please contact us via nb@welcometoserbia.org or +381601849443 (WhatsApp, Viber, Telegram).
