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The Government of the Republic of Serbia

In the service of citizens

Serbia goes up on “Doing Business 2013“ list

Belgrade, 23 October 2012

The Serbian Business Registry Agency stated that the World Bank and International Financial Corporation (IFC) published today "Doing Business 2013” report in which Serbia jumped from last year’s 95th place to 86th by the ease of doing business, among 185 countries of the world.

The statement by the Serbian Business Registry Agency says that Serbia was ranked among the ten economies that carried out the greatest number of reforms over the last year, with the position of our country being improved owing to the progress in the fields of starting a business, contract fulfilment and tackling the insolvency issue.

The report states that Serbia enabled an easier starting of a business by eliminating the obligation of payment of minimum capital, and that the new private bailiff system increased efficiency in enforcing contracts.

In addition, Serbia strengthened its insolvency process by introducing private bailiffs, reducing the starting cost for the sale of assets, prohibiting appeals, expediting processes and adopting a public electronic registry for injunctions in order to enable public insight into all injunctions that are related to administration or ownership over movable and immovable property.

The greatest progress, by 49 places, was recorded in the ease of starting a business in which Serbia is ranked the 42nd owing to a reform by which the minimum founding capital was abolished.

The report states that in order to start a business, it is necessary to carry out six procedures which last 12 days altogether, of which the registration procedure at the Business Registry Agency lasts up to three days.

The new “Doing Business 2013“ report says that the regions of Europe and Central Asia overtook East Asia and the Pacific in the field of improving conditions for doing business for domestic firms and thus became the region with the best conditions for doing business after developed countries of the OECD.