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New Business Formation Law in Novi Sad, Serbia, focuses on the regulations around establishing a new company. This includes processes related to company registration, company structuring, compliance to a given set of regulations, and the roles and responsibilities of directors and shareholders. An integral part of this law is the Commercial Law which deals with the rights, relations, and conduct of persons, companies, organizations and businesses engaged in trade, merchandising, sales, and commerce.
If you intend to start a business in Novi Sad, Serbia, a lawyer can be extremely helpful. They can provide expert guidance on business registration procedures, assist in selecting the best legal structure for your business, and help to draft business agreements and contracts. A lawyer can also provide advice on your responsibilities towards regulatory bodies, liabilities, and legal obligations pertaining to taxation, employment, and more. Hiring a lawyer can save you from legal complications that could potentially harm your business.
In Novi Sad, as in the rest of Serbia, local laws dictate that businesses must be registered with the Serbian Business Registers Agency. The Commercial Law outlines how a business should be structured, and how it should operate, including rules regarding shareholders, directors, and business management. Business operations are also governed by relevant labor laws, tax laws, and industry-specific laws.
Most entrepreneurs in Novi Sad usually opt for Limited Liability Companies (LLC), Joint-Stock Companies (JSC) or branches of foreign companies. Partnerships are available, but less common.
To register a business in Novi Sad, you must submit an application to the Serbian Business Registers Agency, along with the necessary supporting documents.
The costs of business registration in Novi Sad vary based on the type of business being registered and the lawyer's fee, but the registration fee itself is relatively low.
The process can take anywhere from 1 week to a month, depending on the business type and the completeness and accuracy of the submitted documents.
The principal legal business structures include Limited Liability Companies (LLC), Joint-Stock Companies (JSC), and branches of foreign companies.
The major business laws include Commercial Law, Company Law, Bankruptcy Law, Labor Law, and various Tax Laws.
Directors are responsible for the daily management of the company, while shareholders are owners of the company and have the right to vote on significant company decisions.
Businesses are liable to pay corporate income tax, VAT, property tax, and withholding tax. The rates and application of these taxes can vary according to specific circumstances.
Businesses must adhere to Serbian Labor Law, which covers areas such as working hours, minimum wage, working conditions, and employee protection.
Yes, foreigners can start a business in Novi Sad. However, they may be required to meet certain conditions and follow certain procedures which vary from those for Serbian nationals.
Resources like the Serbian Business Registers Agency, the Ministry of Economy, and local business development agencies can be valuable in the process of establishing a business. Professional law firms and business consultancies also offer comprehensive services relating to business setup, which can be invaluable for beginners.
If you need legal assistance in New Business Formation in Novi Sad, Serbia, consider hiring a local lawyer with expertise in Commercial Law and Company Law. They should ideally be familiar with the jurisdiction and language of Novi Sad, Serbia. Ensure that your lawyer can provide guidance on each phase of business formation, from understanding the market to successfully running your business.
