Serbia · Economy and business · Updated November 2026
Is Serbia a boom town in 2027? The economy, business and relocation facts
Short answer
Serbia’s economy is growing again: real GDP rose 4% in the third quarter of 2026 (Statistical Office, RZS), and the National Bank of Serbia (NBS) projects 4.5% for 2027, the year Belgrade hosts Expo 2027. Company profit tax is a flat 15%, and the Business Registers Agency (APR), the Tax Administration and the Ministry of Interior decide the company, tax and residence side. Foreign investment roughly halved in 2025 after a record 2024, so the boom is real but uneven.
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Facts checked 10 November 2026. This guide is general information, not tax advice. Your situation is decided case by case — contact us or your home-country adviser.
Is Serbia’s economy booming in 2027?
Growth is picking up after a slower 2025. The newest official numbers:
| Measure | Latest figure |
|---|---|
| Real GDP growth, Q3 2026 | 4.0% year on year (RZS flash estimate) |
| Real GDP growth, 2025 | 2.1% (NBS, October 2026) |
| NBS projection for 2027 | 4.5% (Inflation Report, August 2026) |
| Net foreign direct investment, 2024 | EUR 5.2 billion, a record (NBS) |
| Foreign investment inflow, January–August 2026 | EUR 1.7 billion, EUR 1.3 billion net (NBS) |
A projection is not a promise. Rules and forecasts can change in 2027.
What is driving growth in Serbia?
Three things stand out in the data:
Tech exports. ICT services exports reached a record EUR 4.55 billion in 2025, up 10% (Government of Serbia, February 2026).
Expo 2027. Belgrade hosts the world exhibition from 15 May to 15 August 2027, with large spending on roads, rail and venues.
Market access. Serbia is an EU candidate and has free trade deals with the EU, CEFTA, EFTA, the UK, Turkey, China and others.
What does Serbia offer companies and founders?
The main business rules, as published for 2026 (PwC tax summary, August 2026; Law on Companies):
| Rule | What applies |
|---|---|
| Company profit tax | 15% flat |
| Income from registered IP (IP box) | 80% exempt, about 3% on that income only |
| Research and development costs | Can be deducted twice |
| Large investment tax holiday | 10 years, for RSD 1 billion invested and 100 new jobs |
| Minimum capital, DOO company | RSD 100 |
| APR decision on a complete filing | Within 5 working days |
The old claim that tech firms pay “3% tax” is wrong. The 3% applies only to qualifying IP income, and the rest of the profit is taxed at 15%. Incentives are decided case by case.
Our company setup service prepares the company file, bank account and residence documents in English. You deal with the people who do the work.
Are wages and living costs in Serbia still low?
Lower than in Western Europe, but rising. The average net salary was RSD 117,282 in August 2026, and the median was RSD 93,325 (RZS). The minimum wage for 2026 is RSD 371 net per hour. Rents in Belgrade and Novi Sad have risen fastest; smaller towns cost much less.
What are the risks behind the boom headlines?
Four points the headlines leave out:
Net foreign investment roughly halved from the 2024 record (NBS).
2.16 million foreign tourists came in January–November 2025, 1.8% fewer than a year before (RZS).
Some hiring incentives for foreigners ended in 2025; check each rule on the date you rely on it.
A wrong address, a missing translation or an expired document can delay a company or a permit.
What do you need to do business or live in Serbia?
Most company and residence files rest on:
- valid passport
- registered address
- company or job documents
- bank account
- health insurance
- certified translations
Each has to match the others exactly. In recent cases a complete company file has been registered in about a week, and residence decisions have taken several weeks. APR and the Ministry of Interior set the timing and we don’t promise a date.
The free Serbia Relocation Checklist lists what to prepare before you move. See also doing business in Serbia and why startup investors choose Serbia.
Who decides on companies, tax and residence in Serbia?
| Matter | Who decides |
|---|---|
| Company registration | Business Registers Agency (APR) |
| Company tax and incentives | Tax Administration; Development Agency of Serbia for grants |
| Residence and work permits | Ministry of Interior (MUP); National Employment Service |
| Economic data and forecasts | RZS and the National Bank of Serbia (NBS) |
Relocation Serbia, in Belgrade and Novi Sad, helps foreigners with company, residence and citizenship files. Start with the €49 Relocation Roadmap (credited toward any package within 90 days — see pricing).
Frequently asked questions
Is Serbia’s economy growing in 2027?
Real GDP rose 4% in Q3 2026; the NBS projects 4.5% for 2027.
Is the company tax rate in Serbia 3%?
No. It is 15%; about 3% applies only to qualifying IP income.
When is Expo 2027 in Belgrade?
From 15 May to 15 August 2027.
Can a foreigner own a company in Serbia?
Yes, 100%, with a minimum capital of RSD 100 for a DOO.
Who decides on company registration and residence in Serbia?
APR registers companies; the Ministry of Interior (MUP) decides residence.
Updated November 2026 · Relocation Serbia, Belgrade and Novi Sad. This guide is general information, not tax advice. Your situation is decided case by case — contact us or your home-country adviser.