Doing Business In Serbia. Population: 7.1 m Area: 88,361 km2 Arable land: 5.7 m ha Unemployment rate 2014: 20.8% GDP2013: 31,994 m EUR GDP growth rate.

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Presentation transcript:

Doing Business In Serbia

Population: 7.1 m Area: 88,361 km2 Arable land: 5.7 m ha Unemployment rate 2014: 20.8% GDP2013: 31,994 m EUR GDP growth rate 2013: 2.5% Average salary 2013: EUR Net Export 2013: 13,963 m EUR Import 2013: 17,796 m EUR Capitol:Belgrade (1.6 m) Ongoing EU Accession Process Indicators & Figures

Trends Source: SIEPA

Import & Export

EASY CONNECTION FROM THE BELGRADE AIRPORT

Foreign investment

Source: SIEPA Top FDI sectors

Free Trade EU CEFTA Turkey EFTA RussiaUSABelarusKazakhstan Agreements

Transportation

VAT Regular rate 20% Lower rate 10% Corporate profit tax * Flat rate 15% (10 year holiday: for investments over 8.4m EUR and 100 new jobs) Income tax Salary 10% Other income 20% Annual income tax 10 to 15% for salaries exceeding 3 times the average salary Contributions Pension insurance 12% / 14% Health insurance 5.15% Unemployment insurance 0.75% *Serbia has a Double taxation Agreement with Germany and additional 54 countries Taxation

Number of companies: 5,818 (6.26% of all registered companies) Number of employees: 129,514 (12.93% of all employed in economy) Export (I-VI 2014):USD 3.63 b Import (I-VI 2014):USD 4.48 b Metal Industry Export driven companies Foreign companies State owned companies Distressed companies

Market entry potential Trade Sourcing/ Outsourcing Investment JV

Potential issues Payment (low liquidity) Expensive financing Customs (non EU country) Outdated equipment (good and bad) Customer care (slow or failed communication)

Chances Recovery and growth of the metal industry Better state support to SMEs Investment (existing companies or directly) Low cost country Free trade

Thank You Mob Vojvodina Investment Promotion – VIP Narodnog fronta 23d, Novi Sad, Serbia Tel: Fax: Web:

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