Which Business Activity Codes in Serbia Require a Special Permit, License, or Consent?

A question frequently asked by entrepreneurs and foreign companies is: Which business activity codes in Serbia require a special permit, license, or consent?

Unfortunately, there is no single law or bylaw that uniformly defines this area. Instead, each activity must be individually verified through consultations with the relevant ministry or the Serbian Business Registers Agency (APR).

Some of the activities that require special permits, licenses, or approvals include, but are not limited to:

• Employment mediation

• Court interpreting services

• Arms trading

• Trading in pharmaceutical products

• Legal practice

• Currency exchange operations

• Banking services

• Insurance company operations

It is especially important for foreign companies and clients to verify whether a particular activity code can be registered under the legal form of a limited liability company (DOO) or a sole proprietorship (PR).

From the perspective of banking operations in Serbia, choosing the correct code and description for the company’s primary activity is crucial. An incorrect selection can lead to issues in payment transactions and other banking operations, both with domestic and international business partners. We regularly encounter situations where clients choose their activity code at the company formation stage without prior consultation, unaware that this decision can have unintended consequences when working with banks.

Since there is no unified legal act that clearly mandates licensing requirements for specific activities, it is essential to clarify this at the very beginning of the company formation process. It is particularly important to choose the right legal structure—whether to establish a sole proprietorship or a DOO—because each activity may involve different levels of requirements and restrictions depending on the legal form.

Our company, with experience working with clients from 46 countries, provides comprehensive support in this process, both from a legal-regulatory and financial-banking standpoint. Properly resolving the issue of business activity codes can be a key factor in the success of your business in Serbia.