Is it possible to start an LLC (d.o.o.) online?

Use the opportunity to receive employment benefits for qualified new employees, despite the state of emergency!

It takes only a few steps to start an LLC and use employment benefits, even during the state of emergency. 

The proclamation of state of emergency due to the corona virus, itself, had a negative impact on the economy of our country. However, the package of economic measures did not consider the deadline by which a large number of entrepreneurs (mostly flat-rate taxpayers) must move from the entrepreneurial environment and start employment in a LLC to receive previously defined benefits for qualified new employees that came into effect on 01 January 2020.

Below, we will explain in detail how can you start an online LLC in time that is, until deadline prescribed by law.

Do not hesitate, use the employment benefits, since the initial deadline was limited to 30 April 2020, but the Government of the Republic of Serbia moved such deadline with separate Decree to the 60th day after the termination of state of emergency. 

Hurry up! The Government moved the deadline at the last minute, from 30 April 2020 for entrepreneurs (both bookkeeping and flat-rate) to the 60th day after the cancellation of state of emergency. Still, the end of state of emergency is near, and these 2 months will fly by. Now is the time to do this, slowly and properly. Read the full article and start on time :) !.

 

A new type of employment benefits is valid since the start of 2020. These are the persons that were not employed for a single day in 2019 and are considered "qualified new employees". Qualified new employees are considered: non-employed, students, founders, persons hired based on a contract other than employment contract. Entrepreneurs form a special group. The only limit for them is that the deadline for the exercise of rights to benefits is 60 days from the cancellation of the state of emergency. 

Is it possible to start LLC online, during the state of emergency?

Yes, it is. Opening LLC was never easier and you can do it from the comfort of your home. It takes only a few simple steps, which will be explained below. 

Step 1:

You need to have a qualified electronic certificate on your ID card, and if you do not have one, you can apply for it online to the Serbian Chamber of Commerce, using their portal eUsluge PKS. It takes a few days to generate the certificate and then, unfortunately, you have to pick it up in person on some of the addresses of the Serbian Chamber of Commerce. 

Step 2:

Then you need to perform electronic registration of LLC, using the portal of the Business Registers Agency. On the BRA website, section eRegistracija you will find all necessary information related to the registration of your company. It is important to know that you can establish a company with one and several members and that in case of e-registration on the BRA you do not need the Notary Public certification, which is one important paper less (and the cost of RSD 720 less, as well). Also, if you do not wish to pay initial capital right away, you can continue without the document named Certificate of the Bank on Initial Capital Paid. However, since the incorporation is very "tricky" and that the BRA officers will return your documents for spelling mistakes on the application or Act of Incorporation, we recommend you leave this task to a lawyer or a bookkeeping agency.

Step 3:

After successful LLC registration, you will receive a registration decision on your e-mail. Then it is necessary to apply to employment as the founder. Deadline for application is 8 days from the date of reception of the registration decision for the LLC. This is done through the CROSO platform. If you wish to use benefits as the entrepreneur employed in its own or other LLC, you must apply for employment by 30 April 2020. This is why you should hurry up with the incorporation procedure! It would be best if the employment application for the newly formed LLC is done by a specialized bookkeeping agency familiar with online bookkeeping. The most important step for anyone registering a company for the first time in this manner is the selection of reliable and professional bookkeeping agency familiar with IT that will be able to improve your business in the best possible way. Find out more about the services of the bookkeeping agency here.

Step 4:

After the submission of the employment application you need to open a bank account. This could be complicated during the state of emergency since there are banks that failed to adjust to this type of account opening, so it could be mandatory for you to personally visit a branch for contract signing. This procedure depends on the bank, but you can try to contact the bank you intend to open an account in and ask them to send all necessary documentation for opening a bank account to your e-mail address, and you will send them scanned documents or documents signed by digital certificate (if allowed by bank procedure) with the note that you will submit original documents after the end of the state of emergency. 

Step 5:

After starting a LLC, the remaining obligations for you are:

• Registration in the Register of Beneficial Owners. The deadline is 15 days from incorporation.
• Also, submission of the advance payment tax application for income tax-deadline is 15 days from the date of registration of LLC. You need electronic certificate for both of these steps.

You can always contact a reliable bookkeeping agency that will provide professional support in this difficult situation (and any other) regarding overcoming abovementioned issues.