Serbia’s Trade Law remains compliant with EU regulations and divides commercial activity into wholesale and retail. Consumers continue to embrace both licensed sales outlets and remote trading—including internet, catalog, mail order, and telemarketing. Direct, “door-to-door,” and mobile sales (kiosks, counters, vehicles) remain permitted through authorized representatives. The law defines special market institutions: commodities markets, fairs, green markets, wholesale centers, and auction houses. Pyramid and multi-level marketing schemes remain prohibited.

In 2025, foreign retail chains maintain approximately two-thirds of Serbia’s retail market, with ongoing expansion of consumer malls and shopping centers. Growth in retail sales turnover reached 5.6% year-on-year in the first seven months of 2025. While American specialty shops are still rare, success relies on introducing new products and services to meet rising consumer demand. Home, DIY, and leisure products see robust growth alongside fashion and electronics.

Capital goods (machinery, equipment) are typically sold directly to manufacturers or business clients. Engaging a reputable agent remains essential for business-to-business sales. The U.S. Commercial Service Serbia assists exporters through its International Partner Search and Gold Key Matching services.

Using an Agent or Distributor

Selecting a suitable local partner—agent, distributor, or representative—is critical for U.S. companies entering the Serbian market. Local partners offer language, cultural, and regulatory expertise, manage logistics, and maintain market presence. This accelerates entry, lowers costs, and facilitates compliance. Due diligence before partnership agreements remain prudent. While English is widespread, companies should prioritize Serbian language and cultural familiarity. Solid personal relationships remain fundamental to business in Serbia. Legal review with local counsel is strongly advised.

The U.S. Commercial Service at the U.S. Embassy in Belgrade provides International Company Profile (ICP) reports for due diligence, including financial, managerial, and reputational analysis of prospective partners.

Key Serbian institutions for preliminary company info:

• Serbian Business Registry: Registry of all Serbian companies; financial and solvency insights.

• Development Agency of Serbia: (formerly SIEPA) Supplier database in English for B2B client identification.

• Serbian Credit Bureau: Credit ratings; available in English for a fee via the Association of Serbian Banks.

Establishing an Office

Foreign investors may set up businesses in Serbia for at least one year or indefinitely, as needed. Recognized company types include private limited liability companies (d.o.o.), joint stock companies (open/closed), general and limited partnerships, and branches of foreign firms. Electronic registration and digitized documentation, now more broadly available in 2025, streamline new business incorporation.

A limited liability company (d.o.o.) remains dominant for local and foreign entrepreneurs, with low capital requirements (RSD 100, ~$1) and efficient registration (5–10 days). More than 50 shareholders triggers conversion to a joint stock company. The minimum capital for a joint stock company is RSD 3,000,000 (~USD 28,000). New businesses must have a director’s digital signature and a registered e-mail address.

Residence and work permits remain required for foreign staff. Permit terms and renewals are similar to prior years, but processes remain complex and time-consuming. Local law firm support is recommended.

The Serbian Business Registers Agency (APR) oversees registrations. National treatment applies to foreign investors.

For the latest Investment Climate Statement (ICS) which includes information on investment and business environments in foreign economies pertinent to establishing and operating an office and to hiring employees, visit the U.S. Department of State’s Investment Climate Statements website.

Franchising

Serbia’s franchise market is developing, but still relatively untapped. Interest is increasing, especially in catering, apparel, and services—with international chains increasing their presence. AmRest continues to expand KFC and Starbucks in Serbia, aligning with ongoing upward trends. No franchise-specific law exists; the Law on Contracts and Torts governs contracts and basic protections. There is no Serbian franchise association.

Direct Marketing

Direct marketing is growing, supported by higher credit card usage and increased internet penetration. Traditional methods (mail, phone) are common, and digital channels (TV, radio, web shops) are expanding. Telekom Srbija maintains a national Yellow Pages Directory.

Joint Ventures/Licensing

Serbian companies increasingly seek joint ventures and licensing arrangements with foreign entities, usually combining capital, equipment, and merchandise from abroad with local expertise and distribution. Careful evaluation of local partners is recommended. Licensing contracts should include clear IPR protection. Licensing remains governed by contract law, with no dedicated statute.

Express Delivery

All major express couriers, including FedEx, UPS, DHL, and Serbian Post’s EMS, operate in Serbia and handle customs clearance. Growth in express delivery is supported by the expansion of Serbian distribution parks and logistics services, including partnerships with leading U.S. logistics companies. Shipments are subject to routine security and customs inspection. Polish and German carriers also operate in Serbia.

Due Diligence

Full due diligence remains essential. U.S. Commercial Service Belgrade provides ICP reports for companies and individuals, verifying financial, legal, and reputational standing.