Easy Start-Up
Business registration is highly efficiently done at one place – with the Business Registration Agency. The registration procedure takes a maximum of 18 days, with the future possibility of an on-line registration.
According to the World Bank’s Doing Business report, Serbia also ranks higher than Europe and Central Asia average for issuing licenses, employing workers, getting credit, paying taxes, trading across borders, and closing a business.
Indicator | Serbia | Europe and Central Asia |
Starting a Business | ||
Procedures (number) | 10 | 9.4 |
Time (days) | 18 | 32.0 |
Cost (% of income pc) | 10.2 | 14.1 |
Min. capital (% of income pc) | 7.6 | 53.9 |
Dealing with Licenses | ||
Procedures (number) | 20 | 21.4 |
Time (days) | 211 | 242.5 |
Cost (% of income pc) | 1,946.7 | 564.9 |
Employing Workers | ||
Difficulty of Hiring Index | 33.0 | 34.2 |
Rigidity of Hours Index | 40.0 | 50.7 |
Difficulty of Firing Index | 40.0 | 37.1 |
Rigidity of Employment Index | 38.0 | 40.8 |
Nonwage labor cost (% of salary) | 17.9 | 26.7 |
Firing costs (weeks of wages) | 27.3 | 26.2 |
Paying Taxes | ||
Payment (number) | 41.0 | 50.0 |
Time (days) | 168.0 | 423.0 |
Profit tax (%) | 14.2 | 11.7 |
Labor tax and contributions (%) | 20.8 | 30.6 |
Other taxes (%) | 3.9 | 13.7 |
Total tax rate (%) | 38.9 | 56.0 |
Trading Across Borders | ||
Documents for export (number) | 6.0 | 7.4 |
Time for export (days) | 11.0 | 29.2 |
Cost to export (US$ per container) | 1,240 | 1,450 |
Documents for import (number) | 8.0 | 10.0 |
Time for import (days) | 12.0 | 37.1 |
Cost to import (US$ per container) | 1,440 | 1,589 |
Closing a Business | ||
Time (years) | 2.7 | 3.5 |
Cost (% of estate) | 23.0 | 14.3 |
Recovery rate (cents on dollar) | 22.6 | 29.5 |
Source: World Bank Doing Business in 2007
