The 2020 Investment Climate Statements: Serbia has been published recently on the website of the U.S. Department of State, were annual statements on the investment climate of more than 170 countries/economies are posted.
These reports are prepared by economic officers stationed in U.S. embassies and diplomatic missions around the world, to help U.S. companies to make informed business decisions based on a detailed analysis of various conditions in foreign markets regarding factors, such as: openness to, and restrictions upon, foreign investment; legal regime; transparency; dispute resolution; industrial policies; protection of intellectual property rights; state-owned enterprises; corruption; political and security environment.
The reports also highlight the efforts of the countries to reform their business environment, as well as possible barriers to U.S. investment. Addressing these barriers would improve the investment climate of the respective economy, its competitive business conditions, creation of a healthy business environment, creating greater opportunities for U.S. investments.
The report on Serbia states that the investment climate in the country has improved in recent years, thanks to macroeconomic reforms by the Serbian government, greater financial stability, improved fiscal discipline, and the EU accession process, which encourages changes in the regulatory framework for improving the business environment.
The improved ranking of Serbia on the World Bank’s 2020 Doing Business list is also emphasized, where it is positioned on the 44th place in the world according to the so-called ease of doing business. Particular emphasis is placed on the significant legislative reforms that Serbia has implemented to eliminate the shortcomings of the system for detecting and preventing money laundering and terrorist financing.
The section “Business Facilitation” states that the registration of business entities is under the jurisdiction of the Serbian Business Registers Agency, whose website is also available in English. It is especially emphasized that the conditions for starting a business in Serbia are equal for domestic and foreign investors.
In the section “Transparency of the Regulatory System”, it is stated that the Serbian Business Registers Agency keeps the Central Records of Beneficial Owners, as a single, public, electronic database of ultimate beneficial owners.
The integral text of the 2020 Investment Climate Statements: Serbia is available at the following link: https://www.state.gov/reports/2020-investment-climate-statements/serbia/.