Recent statistics show the growth of Serbia’s economy. In July alone, mail and goods traffic through Belgrade airport grew by 50%, and in the first six months of 2018, cross-border trade increased by 9.9% in euros and 23% in dollars.
Belgrade Airport Record Results
Belgrade Nikola Tesla Airport sets records this summer and has already become the most successful in history. In fact, for July 2018, 670,354 passengers passed through the airport, 6% more than in July of the previous year.
In addition, the number of aircraft landings and takeoffs increased by 5%. At the same time, the growth in the volume of mail and goods sent from this airport rose by 50% compared to the previous year.
For the first 7 months of 2018, the increase in passenger numbers was 7% or more than 200,000 people. As for mail and goods, the increase was 24% over the same period.
Belgrade is becoming a powerful transit point for tourists and businessmen due to the country’s increasing consumption and exports. In addition, the volume of international trade also shows steady growth this year.
The growth of international trade in Serbia
In the first six months of 2018, the volume of international trade in Serbia was 18.56 billion euros, according to the Serbian Statistics Office. Note that the increase was 9.9% compared to the same period of 2017 in euros and, considering the volume of transactions in dollars, the increase was 23% with a volume of 22.477 billion dollars.
Serbia’s exports of goods and services also increased by 8 billion euros ($ 9.725 billion), an increase of 7.6% (20.4% in dollars), while imports reached a volume of 10.527 billion. ($ 12.752 billion) and an increase of 11.7% (25% in dollars) compared to the same period last year. In other words, the ratio of exports to imports is 76.3% instead of 79.2% from the previous year.
Of course, the largest volume of trade is with countries with which a free trade agreement has been concluded. The countries of the European Union represent 64.7% of international trade and, secondly, are the countries of the Central European Free Trade Agreement, with which trade grew by $ 1.123 billion. Mainly due to exports of grain and beverage products, iron and steel, oil and oil products, exports for this period rose to $ 1.636 billion, and imports to $ 512 million. The ratio between exportation and importation was 318.9%.
In July 2018 alone, export growth was 9.3% in euros and 14% in dollars, compared to the same period last year. In addition, imports increased by 11.7% in euros and 16.6% in dollars.
Importantly, retail trade in Serbia also continues to grow. In fact, in June 2018 performance improved by 4.7% and for six months the increase was 5.2%.
Exports for this period rose to $ 1.636 billion, and imports to $ 512 million.
Serbia as a business center
Overall, we are seeing economic growth in Serbia across all key indicators. This is enjoyed not only by local entrepreneurs, but also by business people from around the world. Corporations are transferred to production in Serbia, investment funds investing money in Serbia, and the European Bank for Reconstruction and Development is ready to open a bank in Belgrade. Said bank considers Serbia to be one of the most important financial centers in the region.
In addition, Serbia has a friendly attitude towards foreign businessmen, has not imposed sanctions against Russia and affords the opportunity to quickly and comfortably organize a local business using the registration of a Serbian company or a subsidiary of a foreign company.
Foreign companies, even offshore companies , can open a branch in Serbia in just 3-4 business days, and in just 3-5 days Serbian banks open an account for a branch of an offshore company. With documents prepared correctly and with our help, in just 2 business weeks you will have a company and a European bank account.
Serbia seems a profitable jurisdiction not only in terms of business, but also in solving personal problems. You have the full right to become a resident and tax resident of Serbia and therefore enjoy favorable tax rates without having to report on overseas accounts.
To obtain a residence permit in Serbia, you can set up a Serbian business or buy a property. The formalization process takes 1-2 months. You will be required to provide a certified copy of your passport, a criminal background certificate, documents proving the presence of a company or real estate, the availability of housing funds (it is recommended to deposit 1000 euros to a local bank account ), medical insurance, resumes, photos.
More information on each of the ways to obtain a residence permit in Serbia:
Residence permit and tax residence in Serbia through real estate investments.
Residence permit and tax residence in Serbia through the registration of a company.
If you have questions about obtaining a residence permit in Serbia, registering with a Serbian company, registering with an offshore company affiliate, or whether to open a corporate or personal bank account in Serbia, please contact Offshore World experts .
Among our specialists you will find professionals who will be able to assist directly in all matters concerning business start-ups and bank accounts in Serbia.