Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
The"drustvo sa ogranicenom odgovornoscu" (d.o.o.) corresponds to a limited liability company Equivalent of 500 euros minimum, in CSD.	No minimum. 50 partners maximum. Their liability is limited to the amount of capital contributed. .
The"akcionarsko drustvo" (a.d.) corresponds to a public limited company Equivalent of 10 000 euros minimum for a closed a.d., 25 000 euros for an open a.d.	Minimum 2 shareholders, maximum 100 for a closed a.d. , no maximum for an open a.d. Their liability is limited to the amount of capital contributed.
The"ortacko drustvo" (o.d.) corresponds to a general partnership No minimum capital	Minimum 2 partners Their liability is joint and indefinite.
The"komanditno drustvo" (k.d.) corresponds to a limited partnership No minimum capital	Minimum 2 partners The liability of the active partners is unlimited. The liability of the silent partners is limited to the amount of capital contributed.

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Serbia.
Trade Register

The Active Population in Figures

	2010
Labor Force	2,950,000

Source: CIA - The world factbook

Source: UN - United Nations

Legal Weekly Duration: 40 hours. A reduction of working hours may be signed between the employer and the employees with a minimum of 36 hours a week.
Retirement Age: 65 for men and 60 for women, provided they have worked for 15 years.
63 for men and 58 for women, provided they have worked for 20 years.
53, provided men have worked for 40 years and women for 35 years.
Working Contracts: The employer is obliged to sign a collective agreement, unless there is no representative Union or, temporarily, if there is no agreement about the collective agreement within 60 days following the start of negotiations. In both these cases, the employer must draw up a book of rules, which must conform to the contracts and to the Law.

Any person over 15 and in good general health can be employed. The work contract may be fixed-term, for a year maximum, or open-ended. A work contract may be drawn up for part-time work, and in that case social security contributions are calculated proportionally to the time worked. It is possible to employ trainees, for a year maximum.

The law concerning work has greatly evolved over the last five years. Measures have been taken to make the labor market more flexible; up to now it had mostly favored employees : now hiring and firing have been made easier, maternity leave shortened. Amendments to labor law are expected in the coming months.

Minimum Wage: 8 820 dinars (USD150)
Average Wage: The average monthly gross earnings in Serbia is RSD 43,000 (EUR 460).
Social contributions: Social Security Contributions Paid By Employers: 17.9%
Social Security Contributions Paid By Employees: 17.9%

Social Dialogue and Involvement of Social Partners: The Confederation of Serbian Autonomous Unions is the oldest Union.
Unions: United unions: Nezavisnost
Unionization Rate: Serbia has become the legal successor to the union of the States of Serbia-and-Montenegro, which ceased to exist in June 2006, when Montenegro voted its separation from Serbia after a fiercely disputed referendum. Dissension concerning the future of the Kosovo region intensified in October when the Albanian majority in Kosovo boycotted the Serbian referendum on the constitution and the future of the region.
The EU and NATO criticized Serbia for not having caught people suspected of war crimes. However, this did not stop Serbia being admitted to the NATO Partnership for Peace Program in December. Arrears of salary continue to be a serious problem and low wages have been behind mass demonstrations of police and railway employees.
Labor Regulation Bodies: The site of the Serbian Ministry of Labor
The site of the ILO

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