Top Business Areas for You in Serbia

What is the most profitable business in Serbia? There are a lot of areas where you can find your niche, and we are going to discuss them below.

16:24 16 January 2024

Serbia is a great European destination where you can start your business, and there are a lot of reasons for that: the country’s economy is rapidly developing, it offers a benign taxation system, and it is not very hard for a foreigner to set up a company here. What is more, if you are thinking of obtaining a European residence permit, you can get a Serbian one after you start your business (and even obtain a local passport in about 7 years!). The country is very friendly to foreigners, and it has created an atmosphere that helped it attract major investors from China, America, and Europe. Belgrade is gradually becoming a multicultural business hub, so you are welcome to join in!

What is the most profitable business in Serbia? There are a lot of areas where you can find your niche, and we are going to discuss them below. We would like to invite you to our portal where you can read the full text of the article on the best business to start in Serbia. The portal is fully devoted to the beautiful Balkan country as it is a very promising destination that is enjoying the peak of its popularity, so you will find information on how to establish a company, open a personal or corporate bank account, obtain a residence permit, optimize your taxes and protect your assets in the best way, and so on. You can get in touch with our expert using the live chat or contacts on the portal to get professional assistance. The first session is free, so do not hesitate to reach us!

Serbian Economy: General Overview

Let’s take a brief look at the Serbian economy to understand what is going on in the country:

• Annual investments in the country’s economy reach 3 to 4 million euros, which is enough not only to keep it afloat but also let it prosper.
• A lot of major investors have come from Russia, China, the EU, and the EU states.
• There are different tax incentives offered to businesses to stimulate development: an IT company will be treated in a special way, for instance, and all companies registered in Special Economic Zones (there are a lot of them in Serbia) get numerous benefits.
• The Serbian economy has fully recovered after the pandemic and is showing steady growth that exceeds the figures before COVID-19.
• The local banking sector is well-developed and highly recommendable, and you can choose one of the Serbian or international banks as the latter have their branches across the country.

It looks like the general situation is quite favorable, and you can choose one of numerous industries that will bring you profit. Analyze your strengths, interests, and financial possibilities as it will help you choose the right industry. For example, if you can invest enough to build a factory in Serbia, your profits will be higher than if you choose another European country. However, you may only have enough funds to launch a design agency, and that is the right choice for you under the circumstances.

Meanwhile, let’s discuss the industries that seem the most promising for non-residents wishing to start their businesses.

Import/Export

Serbia is a large transshipment hub used by many small and large companies to supply products across the world. The country is a party to numerous agreements with other states to cancel duties, making it even more appealing for trade business.

Online Business

You may choose Serbia simply as a good place to live with your family or as a convenient transportation hub for your business if your activities do not depend on your location and are provided online. These include design services, e-commerce, web development, software development, SEO services, content projects, and so on.

Services

You are sure to find your niche in the Serbian service industry unless you are a very narrow specialist! Become a sole proprietor or start a company and engage in any kind of services provision - be it consultancy, coaching, editing, translation, and so on. Offer your services online or offline on the local or international market.

If there is a large diaspora in Serbia that you belong to, you can provide customary services to the people they are used to in their home country (and in their language), which may range from business consultancy to hairdresser’s services.

Production/Extraction of Resources

This is the area where Chinese investors are very active, but you can still find something for yourself if you are passionate about this industry. Power stations, mines, and other objects related to extraction/processing of resources are there for you to participate!

Food Industry

You probably understand that you will need more preparation here than in other industries as you will need to acquire all necessary licenses/permits and receive an alcohol license. However, the prospects are really great if you have something to offer: there are a lot of highly qualified entrepreneurs, migrants, and investors from across the globe in the country that are ready to pay for high-quality delicious dishes.

If the idea of opening a kiosk selling sandwiches or a restaurant does not sound appealing to you, there are other options available. For example, you can focus on customers that need food rations on a daily or weekly basis and deliver high-quality food to them. This is a popular business model in developed countries, and the Serbian market is far from saturation.

Production

There are several factors that make Serbia a production site for the future Europe with good prospects:

• The cost of labor force is not very high
• There are a lot of special economic zones (SEZs) in Serbia that offer zero customs duties/VAT on some products, as well as lower taxes
• Utility bills are among the lowest in Europe

What is more, Serbia has a strategic geographical location between the East and the West, which will help you easily deliver your goods to different destinations from here after the production stage is over.

Which Business to Start, Anyway?

We have mentioned the main areas, but it’s up to you to select the one that will bring you joy and money! This is the rule of thumb for any business choice – not just in Serbia. IT industry, trade or production companies – all of these are welcome here, and you will only need to decide what your cup of tea is.

Click on the above link to explore our portal on Serbia and reach our expert. We will help you set up a Serbian company in no time!