本文全部数据及事实陈述均来源于塞尔维亚JPM律师事务所。本文由上海市锦天城律师事务所资深律师李瑶瑶在赴JPM律师事务所交换访问期间负责整理编译，内容仅供参考，不构成任何法律意见或投资建议。如需进一步法律咨询，请联系JPM & Partners或锦天城律师事务所相关团队。

All data and factual statements in this article are sourced from JPM & Partners. This article was compiled and edited by Yaoyao Li, Senior Associate at Allbright Law Firm, during her exchange visit at JPM & Partners. The contents are provided for informational purposes only and do not constitute legal advice or investment recommendations. For further legal consultation, please contact JPM & Partners or the relevant team at Allbright Law Firm.

在塞尔维亚注册公司前，必须了解当地法律承认的企业形式。本文根据塞尔维亚《公司法》，详细梳理所有法定形式及其设立、资本、管理、税务等核心要素，中英对照，供您参考。

Before registering a company in Serbia, it is essential to understand the legal forms recognized by local law. Based on the Serbian Law on Companies, this article systematically presents all statutory forms and their key elements regarding incorporation, capital, management, taxation, etc., in both Chinese and English.

无论何种公司形式，均须具备以下要素：

Regardless of the legal form, every company must have the following elements:

• 设立行为文件（Incorporation act）：一人公司为“设立决议”，多人公司为“设立协议”；创始人签名须经公证。

  Incorporation act: resolution on incorporation (single founder) or incorporation agreement (two or more founders); founders’ signatures must be notarized.

  
  

• 公司住所（Company seat）：必须在塞尔维亚共和国境内。

  Company seat: must be in the territory of the Republic of Serbia.

  
  

• 经营活动（Business activity）：设立文件须载明主营业务，但公司可从事法律未禁止的一切其他活动。

  Business activity: the core activity must be specified, but the company may conduct any other activity not prohibited by law.

  
  

• 公司商号（Business name）：须包含名称、法定形式、住所地；受法律保护，不得重复。商号不得违反公序良俗或产生误导；使用“塞尔维亚共和国”或其他国家名称须经该国主管机关批准；使用自然人姓名须经其同意。除此以外无其他限制。

  Business name: must contain the name, legal form and seat location; it is protected against identical registration. The name must not offend public morals or be misleading. Using “Republic of Serbia” or any other country’s name requires the consent of the competent authority of that country. Using a natural person’s name requires that person’s consent. No other restrictions apply.

自2018年6月起，塞尔维亚境内依法登记的市场主体（商业公司、外国公司分支机构及代表处、协会与机构等，但国家、自治省或地方自治机构设立的公司和机构除外）均有义务登记实际受益人。实际受益人是指直接或间接拥有或实际控制该主体的自然人，包括：

Starting from June 2018, registered business entities in Serbia (business companies, branches and representative offices of foreign companies, associations, institutions etc., except those founded by the Republic of Serbia, an autonomous province or local self-government) are obliged to register the beneficial owner. The beneficial owner is the natural person who directly or indirectly owns or effectively controls the entity, namely:

1．持股25%或以上的自然人；

A natural person participating in the capital with 25% or more of the share;

2．直接或间接对经营或决策享有支配性影响的自然人；

A natural person who indirectly or directly has a dominant influence over business management or decision-making;

3．以间接方式提供资金并对管理机构决策产生重大影响的自然人；

A natural person who indirectly provides funds and significantly influences decisions of the managing body;

4．信托的设立人、受托人、保护人、受益人，或对信托/外国法律实体有支配性控制的人；

A natural person who is the founder, trustee, protector, beneficiary of a trust, or has a dominant position in controlling a trust or any other person under foreign law;

5．依法登记代表合作社、协会、基金会、捐赠基金及机构的自然人。

A natural person registered to represent cooperatives, associations, foundations, endowments and institutions.

若无法识别实际受益人，则推定依法登记的公司代表或其机构成员为实际受益人。

If the beneficial owner cannot be identified, the natural person registered to represent the entity or registered as a member of its body shall be presumed the beneficial owner.

有限责任公司（DOO）是由一名或多名境外或境内自然人或法人出资设立、持有公司资本份额的公司。公司以其全部资产承担法律责任，股东仅以其所持份额为限承担责任。

A limited liability company (DOO) is founded by one or more foreign or domestic natural or legal persons holding a share in the company’s capital. The company is liable for its obligations with its total assets, while shareholders are liable only up to the amount of their share.

3.1 经营范围 | Scope of Activities

DOO可从事绝大多数经营活动，只需满足特定活动对技术设备、劳动保护、环境保护、发展规划等要求。不得从事的活动仅限于法律明确要求其他法定形式的（如银行须以股份有限公司形式设立）。

DOOs may conduct most business activities provided they meet the requirements for technical equipment, work protection, environmental protection, development plans, etc. The only prohibited activities are those for which the law prescribes a different legal form (e.g., banking requires a joint stock company).

3.2 设立 | Founding

DOO由成员通过设立行为文件设立（一人为设立决议，两人以上为设立协议）。在营业登记局（BRA）的商业公司登记册中完成登记后取得法人资格。BRA实行“一站式”登记，自收到申请之日起5个工作日内作出受理决定。

A DOO is founded by its member(s) by adopting an incorporation act (resolution on incorporation for a single member, agreement for two or more). It acquires legal entity status after registration in the Register of Commercial Companies of the Business Registers Agency (BRA). The BRA operates a one-stop system and renders a decision within 5 business days from submission.

3.3 出资、股权与注册资本 | Contributions, Shares and Founding Capital

出资可为货币或实物。

Contributions can be pecuniary or in kind.

最低注册资本：100塞尔维亚第纳尔（缴付之日）。

Minimum founding capital: RSD 100 (on the day of payment).

成员按出资比例取得股权，享有表决权和利润分配权，除非设立文件或股东大会一致决议另有规定。Members acquire a share proportionate to their contribution, with voting rights and profit distribution rights, unless otherwise provided in the incorporation act or by unanimous decision of the General Meeting.

允许增资或减资，但减资后不得低于法定最低限额。

Capital may be increased or decreased, but not below the statutory minimum.

3.4 管理架构 | Management Systems

DOO可采用单层管理架构或双层管理架构。

A DOO may adopt a one-tier or a two-tier management system.

单层制：股东大会 + 一名或多名董事。

One-tier: General Meeting (all members) + one or more directors.

双层制：股东大会 + 监事会 + 一名或多名董事。

Two-tier: General Meeting + Supervisory Board + one or more directors.

(1)股东大会 | General Meeting

最高权力机构，由全体成员组成。

The highest body of the company, composed of all members.

职权由设立文件规定；若无规定，法律赋予其主要职权包括：审批财务报告、监督董事或监事会、决定增减资及利润分配、决定公司状态变更及组织形式变更等。

Its powers are specified in the incorporation act; if not specified, the law grants powers such as approving financial reports, supervising directors or the Supervisory Board, deciding on capital changes and profit distribution, and deciding on changes of status or legal form.

(2)监事会 | Supervisory Board

仅存在于双层管理架构中，成员由股东大会任命。

Exists only in twotier systems; members appointed by the General Meeting.

主要职权：确定公司经营战略，任命、解除和监督董事的工作。

Main powers: determining the company’s business strategy, appointing, removing and supervising directors.

(3)董事 | Directors

公司可设一名或多名董事，同时担任法定代表人。

One or more directors, who are also legal representatives.

一切经营行为以公司名义、代表公司进行，核心职责是管理公司。

All business is conducted in the name and on behalf of the company; their main duty is managing the company.

聘用方式：

（1）劳动合同（董事具有员工身份）；

（2）董事权利义务协议（董事非员工）。

Engagement methods:

(i) employment agreement (director as employee);

(ii) agreement on director’s rights and obligations (director not an employee).

税务影响：员工身份董事的薪酬缴纳个人所得税；非员工董事的收入缴纳其他收入税。

Tax consequences: employee directors pay income tax on salary; nonemployee directors pay tax on other income.

股份有限公司是由一名或多名法人或自然人（股东）设立的公司，其注册资本划分为若干股份，股份总价值构成初始资本。公司以其全部财产担责，股东仅以出资额为限（法定例外除外）。

A joint stock company (AD) is founded by one or more legal or natural persons (shareholders). Its founding capital is divided into shares, and the total value of shares forms the initial capital. The company is liable with its entire property, while shareholders are liable only up to their contribution (except in cases prescribed by law).

5.1 分支机构 | Branch Office

①　公司独立的组织单元，不具有法人资格，以公司名义、代表公司从事法律行为。

A separate organizational unit, not a legal entity, conducting legal transactions in the name and on behalf of the company.

②　设立公司对分支机构的债务承担无限责任。

The founding company has unlimited liability for obligations arising from the branch’s activities.

③　塞尔维亚公司或外国公司均可设立，须在BRA登记。

Both Serbian and foreign companies may establish branches; registration with BRA is required.

④　税务：外国公司的分支机构须缴纳塞尔维亚法人适用的全部税款。

Taxation : a branch of a foreign company is obliged to pay all taxes applicable to Serbian legal entities.

5.2 代表机构 | Representative Office

外国法人设立，业务范围仅限于前期辅助和准备工作（如市场调研），不得从事商业交易（签订合同、收款或付款）。

Founded by a foreign legal entity; activities restricted to preliminary activities and preparations for the legal transactions of the founder – no commercial transactions (concluding contracts, payment or collection).

例外：可就自身日常业务（如租赁、采购办公用品）从事法律行为。

Exception: may carry out legal transactions relating only to its own current business activities.

设立人对全部债务承担无限责任。

The founder is liable for all obligations.

税务：仅在产生利润时缴纳企业所得税；若仅从事前期辅助和准备性活动，则无须缴纳。

Taxation : corporate income tax is due only if profit is made; if only preliminary/preparatory activities, no corporate income tax.

须在BRA登记（提交申请后5个工作日内视为完成），但不具有法人资格。

Registration with BRA is required (deemed registered within 5 working days of submission), but a representative office does not have legal entity status.

6.1 普通合伙企业 | General Partnership (OD)

由两名或以上自然人和/或法人以合伙人身份设立

Founded by two or more natural persons and/or legal entities as partners.

所有合伙人以其全部资产承担无限连带责任。

All partners have unlimited joint and several liability up to the value of their entire assets.

须在BRA登记（程序与DOO相同）。

Registration with BRA is required (same procedure as for DOO).

6.2 有限合伙企业 | Limited Partnership (KD)

至少一名普通合伙人（无限连带责任，以其全部资产）和一名有限合伙人（有限责任，仅限于未出资或未缴足出资额）。

At least one general partner (unlimited joint and several liability up to the value of entire assets) and at least one limited partner (limited liability up to the amount of uncontributed or not paidin contribution).

普通合伙人管理企业经营活动并对外代表企业；有限合伙人无权从事上述活动，但经全体普通合伙人决议可被授予代理权。

General partners manage the business and represent the partnership; limited partners are not authorized to do so, but may be granted power of procura by decision of all general partners.

利润按出资比例分配。

Profit shares are distributed in proportion to each partner’s contribution.

若有限合伙人足额缴清约定出资，则无需对合伙债务承担责任（核心价值：责任限于出资额，同时限制其决策权）。

If a limited partner fully pays in the agreed contribution, they are not liable for partnership obligations (core purpose: limiting liability while limiting decision-making rights).

若有限合伙人未足额缴清出资，则就未缴或未足额部分与普通合伙人向债权人承担连带责任。

If a limited partner fails to fully pay in, they have joint and several liability with general partners up to the amount not paid in.

普通合伙人承担无限连带责任。

General partners have unlimited joint and several liability.

7.1 基本定义 | Definition

个体工商户是指在营业登记局（BRA）完成登记的境内外自然人，可以营利为目的、以职业形式从事法律未禁止的一切经营活动。与商业公司不同，个人经营者不具有法人资格，但须登记。

A sole proprietor (entrepreneur) is a natural person, domestic or foreign, registered with the BRA, who may, as an occupation for profit, conduct any business activity not forbidden by law. Unlike business companies, entrepreneurs are not legal entities, but they are subject to registration.

7.2 责任 | Liability

以全部财产（包括经营活动取得的一切财产）对债务承担无限责任。

Liable for all obligations with their entire property (including any property acquired through business activity).

责任不因注销登记而消灭。自由职业者（如律师）若相关法规认定为个人经营者，同样适用。

Liability does not cease upon striking off the register.Freelancers (e.g., attorneys) are also considered entrepreneurs if the relevant regulations so define their status.

7.3 前置审批 | Prior Approvals

若特定经营活动须事先取得主管机关的同意书、许可证或其他批准文件（如医疗卫生、兽医服务、武器及零部件贸易、破产管理人业务等），登记时须一并提交该文件原件。

If a specific activity requires prior approval from the competent authority (e.g., healthcare, veterinary services, trade of weapons and ammunition, bankruptcy administrator activities), the original approval document must be submitted for registration.

塞尔维亚法律不承认信托及受托实体为法律制度中的法定概念。

Serbian law recognizes neither trusts nor fiduciary entities as legal institutes.

9.1 公共企业 | Public Companies

根据《公共企业法》，特定具有普遍利益的活动（采矿与能源、交通运输、电子通信、出版官方公报及教科书、核设施、武器及军事装备、具有普遍利益的财产管理、废物管理、公用事业等）须由公共企业承担。公共企业由塞尔维亚共和国、自治省或地方自治机构设立，通过设立行为文件成立，在BRA登记后取得法人资格。

Under the Law on Public Companies, certain activities of general interest (mining and energy, transportation, electronic communication, publishing the official gazette and textbooks, nuclear facilities, weapons and military equipment, management of property of general interest, waste management, public utilities, etc.) must be conducted by public companies. Public companies are founded by the Republic of Serbia, an autonomous province or local selfgovernment, by an incorporation act, and become legal entities upon registration with the BRA.

设立机构：政府、自治省议会或地方自治机构。

Founder : Government, assembly of autonomous province or local self-government.

管理机构 Bodies :

a.监事会：成员由设立机构任命，负责制定发展规划与战略、批准经营计划、审批财务报告、监督董事工作、制定公司章程等。

Supervisory Board : members appointed by the founder; duties include adopting development strategy and business plan, approving financial reports, supervising the director, adopting the Articles of Association.

b.董事：通过公开竞聘任命，对外代表公司、管理日常运营、执行监事会决议。

Director : appointed through an open competition; represents the company, manages operations, implements decisions of the Supervisory Board.

同时，法律允许主管机关依法将上述活动委托给其他法人或个人经营者（通常通过公私合营与特许经营方式）。

The same law also allows the competent authority to entrust such activities to other legal entities or entrepreneurs (typically through publicprivate partnerships and concessions).

9.2 公用事业企业 | Public Utility Companies

根据《公用事业法》，公用事业服务（饮用水供应、市政废物管理、公共交通、道路管理等）可由公共企业、商业公司、个人经营者或其他经营主体提供。服务提供者须在质量、数量、可及性和连续性方面满足标准，由市政监察部门核查。法律允许通过公私合营协议将公用事业服务委托给私营主体承担（目前尚在起步探索阶段）。

Under the Law on Public Utilities, public utility services (drinking water supply, municipal waste management, public transportation, road management, etc.) may be provided by public companies, business companies, entrepreneurs or other business entities. Providers must meet standards in terms of quality, volume, availability and continuity, verified by municipal inspectors. The law allows entrusting public utility services to private entities through publicprivate partnership agreements (this option is only beginning to be utilized).