Serbia keeps on proving that when it comes down to offering best possible business environment for IT companies, things will be done. Therefore, it is not surprise that Google added Serbia to Merchant Account platform.
What does this mean?
Until now Serbian IT companies had a huge problem with charging for their services and products. After Google added Serbian to Merchant Account platform all companies registered in Serbia, from now on, can charge for their services and products that are available on the Google Play Store worldwide. In the end, this means that Serbia is being recognized as important part of international IT community, and that Serbian legal framework is side by side with world leading IT markets.
Who can benefit from this?
Serbian IT sector, or better said it exports will reach 1.5 billion Euro in 2019. Now, when there is opportunity for access to the worldwide market via Google Play Store, it is too being expected that mobile app developers and mobile app industry in general will benefit the most. Mobile app companies from Serbian will be able to plan sale of their products to smartphone users globally.
In addition to all this, special incentives have been introduced for investing in fields of research, development and creation of intellectual property in Serbia. These incentives stipulate that the profit from the income from intellectual property is taxed at the tax rate of 3%, instead of the 15%, as it was rated before.
All of this, together with the decision that from January 1, 2020, all digital nomads who stay in Serbia for up to 90 days will be tax-exempt, makes Serbia become one of the most competitive countries in these fields.
What are next steps?
Beside all mentioned, Serbia is planning to implement liberal visa policy for employment in Serbia, electronic visa application and special start up visas. By doing so, Serbia will become even closer to all those that want to start their business and live in Serbia.
If case you want to know more about Serbian legal framework regarding company formation, visa application or immigration feel free to contact Asst Office.
