Setting up a private limited company/unlimited company

What

An unlimited partnership is private unlimited company that is establish by the two or more natural person.  In this type of company  the legal liability of the members or shareholders is not limited,  which means that the partners are equally responsible for the entire debts of the business.

A limited partnership is a company under a common business name with minimum two members performing a particular activity. One of members has full responsibility, while the other one is responsible in the scope of his/her contracted role.

A limited liability company is a company with one or more members having equal interests in the company’s capital. Within this type of company members are not responsible for the company’s obligations except in cases provided by the law.

Good to know

Home page of the Business Registers Agency (in Serbian – Latin and English) – http://apr.gov.rs/eng/Home.aspx

Steps

Step 1: Filing the unique registration of legal persons and other entities and enrolment in a single register of taxpayers with appropriate documentation and evidence of payment of prescribed fee.

Step 2: Registration application for establishment has to be submitted by a founder or a person authorized by the founders, in which case it is necessary to attach a power of attorney

Step 3: Appropriate documentation: Founding act, proof of identity of the members of the company, Decision on appointing the representative unless it is under the founding act, bank certificate of payment of cash deposits, proof of payment for the registration of the establishment and proof of payment for the registration and publication of the founding act.

Where

Belgrade, Serbia