The corporate tax rate in the Republic of Serbia is 15%, among the lowest in Europe. The labor cost is also among the five lowest in Europe, with an average net monthly salary of about 380 Euros.
Currently, after years of political and economic instability, the country is one of the main attractors of investments in South Eastern Europe. Since 2005, the country has attracted about Eur 11 billion in foreign direct investment.
The products manufactured in Serbia exported to European Union, Russian Federation, Belarus, Turkey, Kazakhstan are exempt from customs duty. In recent years, the Republic of Serbia has concluded numerous free trade agreements with important international markets such as the EFTA countries (Switzerland, Norwat, Iceland) and CEFTA countries (Bosnia, Macedonia, Albania, Montenegro, Moldova, Kosovo). In addition, Serbia enjoys preferential trade agreements with the United States.
Not only multinationals like Gazprom, Telenor, Siemens, Fiat, Panasonic, Nestle, Stada, Benetton, Holcim, but also many small and medium manufacturers have found in Serbia an optimal business environment for their internationalization projects' development.
In the financial sector, Banca Intesa is the market leader, followed by Serbian Komercijalna Banka, Unicredit Bank, Societé Generale, Raiffeisen Bank, currently among the top five companies operating in this field in Serbia. In the next years the financial sector is seeing new investments from European Union, Russia, Turkey, United Arab Emirates. Generali is present since 2007 in the insurance sector, along with global operators like Axa, MetLife, Wiener Stadtische, Uniqa.
Serbia is a country strongly committed to integrate into the global economic and political system. In addition to the formal start of accession negotiations with the European Union, Serbia has always been a traditional partner of Russia and China.
Recently the country is planning significant investments from the United Arab Emirates in the field of real estate, aeronautics, agriculture and Information Technology.
AirSerbia the new national carrier controlled by Etihad Airlines, is among the most fast growing companies in Europe and reaches 36 destinations by direct flights.
The country is reestablishing and strengthening the traditional relations formerly held by Yugoslavia with the countries of Africa and Asia.
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