Launching Your Fintech Firm in Serbia: Opportunities Ahead

Are you contemplating the establishment of a regulated and licensed financial entity in Serbia? It is potentially a smart decision, as the country actually comes with a range of licensing options for fintech, asset management, and investment firms.
Your partner in fintech success: Offshore Pro Group’s services in Serbia
Our expertise as a leading online resource for Serbian company formation and banking services is well-established. Recently, Offshore Pro Group has expanded its support to numerous fintech enterprises.
Foreign entities already engaged in fintech or financial services outside Serbia may find our services particularly relevant, regardless of what they are:
- forex brokers
- electronic money issuers (EMIs)
- payment service providers (PSPs)
- money services businesses (MSBs)
- crypto wallet providers
- mobile money issuers
- external asset managers
- private bankers
- trust companies
- stock brokers.
Serbia’s fintech boom: key reasons to start your enterprise here
Serbia’s fintech sector, though nascent, is thriving due to the country’s sophisticated technological infrastructure. The key benefits of launching a fintech enterprise in Serbia are highly appealing:
- Advanced banking system with superior online and multi-currency features.
- International banking and financial platforms that are open to Serbian-regulated entities, including those in the EU, Switzerland, USA, and more.
- The Serbian market that is eager for tech but currently underserved in payment options compared to the EU.
- Highly competent Serbian talent to manage IT, security, and customer service operations.
- Serbian stock exchange access for capital raising or investment purposes.
Key regulatory bodies and their impact on Serbia’s financial sector
As far as licensing is concerned, Serbian regulators generally align with EU norms. Yet, due to Serbia’s non-EU status, regulations offer more leeway. With no passporting rights, establishing a local entity is becoming increasingly important in 2024. Typically, we recommend forming a Public Limited Company or Joint Stock Company. Just so that you know, Offshore Pro Group is ready and willing to assist those interested with company incorporation in Serbia.
Serbia’s financial and fintech sectors are regulated by two key authorities:
- The Republic of Serbia Securities Commission, also known as the Serbian SEC, that manages the local securities market. It guarantees regulatory compliance, safeguards investor rights, authorizes investment firms, evaluates anti-money laundering measures, and oversees the Central Securities Depository and Clearing House.
- The National Bank of Serbia (NBS), the central bank, regulates banks, insurance entities, and financial institutions. It’s tasked with ensuring monetary stability, overseeing foreign exchange, and managing payment systems.
Both bodies strive to meet international standards, boosting Serbia’s financial security and growth. The Securities Commission’s recent approval of a digital assets white paper demonstrates its responsiveness to fintech advancements. The NBS contributes to global sustainable finance initiatives, which underscores its commitment to ESG values. Together, they maintain Serbia’s appeal for financial and fintech companies through rigorous regulation and support for innovation.
Criteria for launching a financial services company in Serbia
For the formation of a Serbian Financial Services Company, the essential prerequisites include:
- Directors: At least two directors who boast the necessary qualifications and training, and who have undergone or will undergo rigorous fit and proper background checks, are required. NB: These directors need to reside in Serbia.
- Physical Office: The company must have a physical office in Serbia to function as its operational headquarters.
- Business Plan: A detailed business plan must be submitted, outlining the company’s operational framework and the rationale for it to seek regulation in Serbia.
The company is also required to comply with regulatory documentation norms consistent with those of EU financial entities:
- AML-CFT Policy: The implementation of a comprehensive Anti-Money Laundering and Counter-Financing of Terrorism policy is imperative.
- IT Security Policy: Establishing a policy that guarantees the integrity and security of information technology systems is a must.
Why establish a financial business in Serbia in 2024?
The Serbian financial market is distinguished by several key benefits:
- Competitive Taxation: With a corporate tax rate of only 15%, Serbia’s tax regime is more favorable than those of many other European nations.
- Global Market Access: Serbian financial companies enjoy unfettered access to worldwide markets, an essential factor for businesses aiming at international growth.
- Business-Friendly Banks: Serbian banks are recognized for their liberal policies and support towards businesses.
In Serbia, you will find a simple yet efficient company registration process that can be completed in just over 10 business days for simple ownership structures, provided the owners are present in the country. This productive setup is especially advantageous for international investors and entrepreneurs.
How expert help can make a difference
Admittedly, things are not always as easy as they seem, especially if you try to handle business incorporation on your own. To enjoy success with your financial services company in Serbia, it is wise to take a specialized and tailored approach. In simplistic terms, it looks like this:
- Initial Consultation: Begin with an informal discussion with Offshore Pro Group directors and lawyers to outline your project and determine its feasibility. If deemed viable, we’ll set a fixed fee for the subsequent steps.
- Confidentiality Agreement: We’ll execute mutual non-disclosure agreements (NDAs), after which you’ll provide detailed information about your current or planned business, including any existing licenses and regulatory statuses abroad.
- Belgrade Visit: Plan for a multi-day trip to Belgrade. We’ll arrange meetings with professionals like lawyers, bankers, and regulators after reviewing your documents. Our aim is to facilitate project presentation, garner feedback, and initiate regulatory conversations. You’ll be well taken care of, with VIP airport pickup, hotel bookings, and local transportation.
- Follow-Up Report: Post-visit, we’ll compile a comprehensive report and draft a proposal to advance your project further.
If company incorporation in Serbia looks too laborious to complete it on your own, professional guidance from Offshore Pro Group may be highly beneficial. We are here to provide comprehensive advice on the registration and licensing of your fintech company in Serbia. Our team of lawyers, legal experts, and specialists will support you in document preparation, regulatory communication, company and bank account establishment, and tax authority registration. We also guarantee ongoing business support post-launch.
Don’t hesitate to move forward with your plans! Reach out to us and arrange a free initial consultation to discuss your specific needs in Serbia.