EORI Registration in Serbia - 2021 Guide
EORI Registration in SerbiaUpdated on Sunday 04th April 2021
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Companies or sole traders involved in import and export businesses within the European territory must apply for the EORI number. This is the Economic Operator Registration and Identification number which replaced the Trade Unique Reference Number created by UK for a better assignation of companies dealing with trading activities in the European Union. Even if Serbia is not part of the EU, companies with export activities must register for EORI and run the operations under such identification number. Our lawyers in Serbia can offer legal advice and information about the registration of companies in Serbia in 2021 and about the trading activities they can perform in compliance with the current legislation.
What is the EORI number?
The EORI number is an important identification number used for access within the EU countries in terms of imports and exports. This number is formed by the country code where the company is registered, and a unique code number, followed by the VAT number. The EORI number is necessary for all companies from countries members of the European Union and also for non-EU states. This kind of number can be used in situations like the following, by economic operators that are not established in the EU customs territory:
- submitting the ENS or the Entry Summary Declaration;
- lodging temporary storage declarations in the EU customs territory;
- submitting the Exit Summary Declaration or EXS;
- when acting as a carrier that is linked to the customs systems and wanting to receive notifications regarding the amendment of entry summary declarations.
For a better understanding of the rules of EORI in the EU in 2021, you can solicit legal advice from our Serbian lawyers. They can also help you register your company for VAT.
Is it necessary to have more than just an EORI number in 2021?
No, there is no need for more than just an EORI number per company. It is sufficient for companies to obtain a single EORI number to be properly identified as legal economic operators activating within the European Union. This is a unique identification number that can be assigned to your company.
Is the EORI number the same as the VAT number?
No, the EORI number is different from the VAT number. We remind that the VAT applies to products and services for sale purposes in Serbia, while the EORI number serves as an identification number for the economic operations and their trading activities within the European Union. Still, both identification numbers must be verified at the customs control for the export of goods. Feel free to address your inquiries to one of our lawyers in Serbia and find out more about the taxation in Serbia and about EORI registration.
How to register for EORI in Serbia
The EORI number must be requested to the customs authorities of the EU country in charge of the place where they first lodged a declaration. In this direction, the company documents need to be submitted for verification and acceptance. The Articles of Association, the Certificate of Incorporation, the VAT certificate are among the necessary documents for the EORI application. Particular application forms might be needed for EORI submission, so you might want to talk to one of our advisors and find out more details. The EORI registration can be made online with the help of the e-customs systems and once the Serbian company is accepted as an economic operator.
Timeframe for the EORI number
Even if Serbia is not an EU member, the EORI application is rapidly taken into consideration, so it is a matter of 4 or 5 days until this identification number is issued. As soon as the documents are accepted by the EU customs, the EORI number will be issued in only a few days. It is good to know that our Serbian lawyers can apply for an EORI number in 2021 on your behalf and can deal with all the formalities involved in this process. They can also help you start a business in Serbia by providing immediate legal advice and assistance.
Necessary documents for imports and exports in Serbia
Even though Serbia is not part of the European Union, the country must consider the rules and regulations imposed by EU in all fields of interest, including the trading operations. In this direction, Serbia coordinated the documentation with the EU legislation and uses the standardized import and export papers, among which the bill-of-landing is extremely important. The Customs Administration Act issued in 2012 comprises complete information about the rules and regulations linked to the import and export of goods from/in Serbia, the deferred payment of re-export products, the declaration of goods, and customs supervision among many others. Companies from abroad that want to deal with trading activities in Serbia can establish subsidiaries or branches in this country and register with the authorities in charge of incorporation. We mention that our Serbian attorneys are at your disposal with information in this sense and any business law modifications for 2021.
Customs tariff in Serbia
Companies in Serbia which intend to perform trading activities must consider the EU directives and respect the Company Law and the Commercial Code. The Serbian Customs Tariff corresponds with the EU Nomenclature and the following tariff documents must be considered if import and export activities are performed:
- the binding tariff information which is issued by the Customs Administration in Serbia;
- decisions of tariff classification in accordance with the rules of World Customs Organization;
- decisions of tariff classification imposed by the EU’s official journal.
Starting an import and export company in Serbia
The registration of a trading company in Serbia in 2021 is not complex as long as you decide on the business structure and respect the requirements referring to incorporation with the entitled authorities. Our lawyers in Serbia can handle the registration formalities of an import and export company in Serbia. Below are a few important aspects to consider when opening a limited liability company or DOO, appropriate for import and export activities:
- A minimum share capital of RSD 100 or one EUR is needed for the registration of a DOO in Serbia.
- The Articles of Association comprise information about the owners, activities, general and internal rules, and many more.
- A bank account is needed for your LLC in Serbia.
- The incorporation of the trading company starts with the Serbia Business Registers Agency where a name verification is made in the first place.
- An LLC in Serbia requires the registration for taxation and social contributions.
We suggest you discuss all the legal aspects of a DOO in Serbia with our specialists and ask for support in matters of registration. Entrepreneurs must respect the applicable business laws in Serbia when starting a company in the import and export field. Once the company is registered and has the Certificate of Incorporation, the formalities for the EORI number can start.
Making investments in Serbia
The business-friendly environment of Serbia, alongside a stable and appreciated economy, are among the solid points noted by foreign investors who want to participate in all sorts of investment products. Sectors like manufacturing, food & beverage, textiles, tourism, agriculture, IT and telecommunication generate large profits each year in Serbia and sustain the gross domestic product in a big percent. Foreign investors in Serbia can enjoy other benefits too, like hiring qualified and multilingual staff, taking advantage of an appealing tax system and the support of the double tax treaties signed by Serbia with numerous countries. We invite you to take a look at the following facts, information, and numbers to make an idea about the business direction in Serbia:
- Around USD 39,833 million was the total FDI stock for Serbia in 2018.
- The total FDI stock for 2018 represented about 78.6% of the country’s GDP in that year.
- Most of the foreign direct investments in Serbia come from European countries.
- According to the World Bank Doing Business report for 2018, Serbia ranks 43rd out of 190 worldwide economies.
- 10% rate is the corporate income tax in Serbia, one of the lowest tax rates in Europe.
FAQ about EORI in Serbia
1. Who needs an EORI number in Serbia?
Import and export companies with activities within the EU must have an EORI number. This is an important identification number through which the trading activities are verified and accepted.
2. What is the purpose of EORI?
The purpose of the EORI number is to assign a registration and identification number to each economic operator and to other persons, to serve as their common reference in their relations with customs authorities throughout the EU, as well as for the exchange of customs information.
3. Do trading companies need an EORI number even if Serbia is not part of the EU?
Yes, even if Serbia is not part of the European Union, companies from this country must align with the EU regulations and have an EORI number. The registration process for EORI can be overseen by our Serbian lawyers.
4. What is the content of EORI?
EORI is formed of a unique code and the VAT number of the company. The entire number is required for all sorts of customs declarations and formalities.
5. Is an EORI number sufficient for a Serbian trading company?
Yes, there is no need for more than just one EORI number. Each code is unique and sufficient for an import and export company in Serbia.
6. How do I register for EORI in Serbia?
The registration for the EORI number in Serbia is straightforward and it is made with the help of company documents. The VAT certificate, the Articles of Association, and the Certificate of Incorporation are among the required documents for EORI registration. Our lawyers in Serbia can tell you more about the registration process of EORI.
7. How fast do I get the EORI number?
The EORI number is ready in a few days if all the documents are accurate and accepted. We remind you that the application formalities can be suitably handled by our Serbian lawyers.
8. Can an EORI number be invalidated?
Yes, if you no longer have trading activities you need to notify the authorities for EORI de-registration. This is a simple procedure, yet there are some legal aspects to consider, and one of our Serbian lawyers can provide assistance.
9. Who introduced the EORI number?
The EORI number replaced the UK’s Trade Unique Reference number. This aligns with the EU legislation and requirements.
10. Do sole traders need an EORI in Serbia?
Yes, if they have trading activities within the EU, the EORI registration is mandatory. One of our Serbian attorneys can tell you more about the EORI formalities and registration.
Choosing our Serbian lawyers
Doing business in Serbia in 2021 is not difficult for foreigners who ask for legal advice and assistance from the beginning. It is important to have a dedicated team by your side and benefit from complete legal services instead of dealing on your own with the authorities and related formalities. We believe in good and proper communication with our clients and we work in complete confidence, with professionalism and efficiency because we aim for the best possible outcomes for our customers. Choosing our Serbian lawyers for business reasons in the country means taking advantage of an experienced team of advisors who can cover all the business-related aspects.
Complete assistance for EORI and VAT registration can be offered by one of our specialists who can also handle all the formalities involved. Please do not hesitate to get in touch with our law firm in Serbia for comprehensive information about the legislation which oversees the trading activities in Serbia.