Company in five days - significantly faster registration of companies in our country

The Business Registers Agency is already using the one-window system for registration of enterprises, which makes it possible for a new company, in accordance with EU's recommendations, to be registered in only five days. That system has significantly simplified the procedure for founding enterprises and stores. The Agency now provides the data that are necessary for issuing of tax identification number (PIB), as well as for registration with the Pension-Disability Insurance Fund and the Health Care Fund. In that way, instead of average time of 23 days, it now takes one working week for a company to be registered. Founding of a company is carried out in the Business Registers Agency according to the procedure that is brought in accord with the modern global standards.

The procedure for registration of companies is identical for domestic and foreign persons. The following documents need to be submitted along with the application for registration: proof of identity of the founder (copy of ID or passport for a natural person and/or Certificate of Registration issued by the Register in which the legal entity is registered), Articles of Association (Decision or Agreement) with certified signatures of the founders, bank certificate on deposit of the monetary contribution to a interim account or a certified statement of the founder that he/she has provided the monetary contribution (500 EUR for a company with limited liability).

Decision on the appointment of the company representative, unless the representative was designated in the Articles of Association.

The proof of payment of the registration tax (3,600 RSD for a company with limited liability). The application for issuing of registration number through the Agency, from the Statistical Office of the Republic, the tax for which amounts to 1,270 RSD.

The Business Registers Agency makes the decision about registration of a business subject within five days from the day the application is submitted.

The application for issuing of PIB is then submitted to the Tax Administration. No fee is required, and PIB is issued in about 10 days. Once PIB is obtained, complete documentation is submitted to the bank for the needs of opening checking account. One day after the account is opened, the company can start with work.

FORMS AND BUSINESS PLAN

The Business Registers Agency offers the possibility of free download of all forms that are necessary for founding of a company on its web presentation www.arp.gov.rs. Although it is not required for the founding of a company, the web site of the Agency also contains instructions for design of business plan, which is usually needed by new entrepreneurs.

(Note: complete text is taken over from newspaper "Novosti" of August 25, 2009)