The ISO code of Serbia is RS according to the ISO 3166 standard. The local name of the country is Srbija. Serbia capital city is Belgrade. People in Serbia speak the Serbian language. In the year 1945, Serbia emerged as a sovereign political entity. The largest city in Serbia is Belgrade.
Serbia is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Serbia is .rs. Other domains assigned to Serbia are .срб. The International dialing code for Serbia is 381. People in Serbia drive on the right side of the road. Total land area of Serbia is 77,589 km² (approx. 29,957 mi²). Serbia is a landlocked country.
Serbia is located in Europe. Serbia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Serbia faces various issues, including air pollution around Belgrade and other industrial cities, water pollution from industrial wastes dumped into the Sava which flows into the Danube.
Doing business in Serbia
We offer various corporate services in Serbia jurisdiction. These services can serve both, people coming from Serbia and foreigners. If you plan on doing business in Serbia you might be interested in contacting us.
To find out about starting your business in Serbia click on company formation in Serbia.
To find out how to open a bank account in Serbia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Serbia.
Choose preferred service below or continue reading to find out more about Serbia.
Demographics of Serbia
The total population of Serbia is 8,762,027 people. In Serbia, the population density is 92 people per square kilometer (239 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Serbia is 0.5736. Serbia has approximately 807441 foreign immigrants. The median age is approximately 41.9 years. In Serbia, 48.1 in every 100 people use internet. Serbia has a Human Development Index (HDI) of 0.745.
The majority religion of Serbia is Christianity, Serbia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Serbia.
Culture of Serbia
People in Serbia speak the Serbian language. According to data on inbound tourists in Serbia, 922,000 tourists arrive in the country each year. The first McDonalds in Serbia was opened on 24 March 1988, and it was located in Slavija Square, Belgrade. One of the most popular national dishes of Serbia is cevapčići. To read more click on culture of Serbia.
Geography of Serbia
Serbia is considered to be a large nation because of its total area. Its total land area is 77,589 km² (approx. 29,957 mi²). Serbia is located in Europe. Its capital city is Belgrade. Serbia has 8 neighbouring countries. Its neighbours include Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, Kosovo, Macedonia, Montenegro, and Romania. Total length of land borders of Serbia is 2322 kilometers (~897 miles).
The highest point of Serbia is Midžor (Đeravica when Kosovo is considered as part of Serbia), with its official height being 2169 m (7,116 ft). Including land mass and EEZ, the total area of Serbia is approximately 77,589 km² (~29,957 mi²). The most notable natural resources found in Serbia are oil, gas, coal, iron ore, copper, zinc, antimony, chromite, gold, silver, magnesium, pyrite, limestone, marble, salt, arable land.To read more click on geography of Serbia.
Economy of Serbia
The currency of the country is Serbian dinar. The symbol used for this currency is din, and it is abbreviated as RSD. 14.1% of population in the country are unemployed. The total number of unemployed people in Serbia is 1,235,446. Each year, Serbia exports around $14.61 billion and imports roughly $20.54 billion. The Gini Index of the country is 38.7. Serbia has a Human Development Index (HDI) of 0.745.The Global Peace Index (GPI) for Serbia is 1.768. Serbia has a government debt of 61.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. Serbia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are automobiles, base metals, furniture, food processing, machinery, chemicals, sugar, tires, clothes, pharmaceuticals.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Serbia is $95,842 billion. Each year, consumers spend around $30,956 million. The ratio of consumer spending to GDP in Serbia is 0%, and the ratio of consumer spending to the world consumer market is 0.0892. The corporate tax in Serbia is set at 15%. Personal income tax ranges from 10% to 25%, depending on your specific situation and income level. VAT in Serbia is 20%. In 2013, Serbia received 1089.8 million USD in foreign aid.In 2014, the foreign aid amounted to 1379.2 USD.To read more click on economy of Serbia.
Infrastructure of Serbia
Infrastructure quality in Serbia is rated to be at 2.73. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Serbia, 100% of the population has access to electricity. There are 1,102,000 internet hosts in Serbia. Serbia has 26 airports nationwide.
The logistics performance index of Serbia is 2.96. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 2.94. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Serbia is 165. To read more click on infrastructure of Serbia.
Politics of Serbia
Serbia, is a parliamentary republic. With regard to political and civil freedoms, Serbia is 1. Citizens in Serbia experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Aleksandar Vučić.
According to the World Bank Group, the government effectiveness index of Serbia is 0.09. This indicates that the government of Serbia is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Serbia before considering any business maneuvers.In Serbia, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Serbia is 1.768. The strength of legal rights index for Serbia is 5. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Serbia received 1089.8 million USD in foreign aid. In 2014, the foreign aid amounted to 1379.2 USD. Serbia is a member of the United Nations (UN). On 1 November 2000, it joined the UN as a full member state. Serbia is a member of the World Bank. To read more click on politics of Serbia.
Environment of Serbia
Serbia emits 6.8 metric tons per capita of CO2. 27200 km² of Serbia's territory is covered in forests. and forest land comprises 35% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Serbia is 165. To read more click on environment of Serbia.
Company formation in Serbia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Serbia.
When establishing a company in Serbia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Serbia that will affect the establishment and growth of one's business. Contact us or click on company formation in Serbia to read additional information when setting up a business.
Bank account opening in Serbia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Serbia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Serbia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Serbia or contact us.