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The Serbian Labor Minister, Zoran Đorđević, recently announced amendments to the Law on Employment of Foreigners and the Law on Foreigners. The amendments aim at securing higher state revenues from the increasing number of foreigners working online remotely from Serbia for companies based in other countries.

Mr. Đorđević, via Radio Television of Serbia, discussed that the changes are based on the idea that Serbia would be the first country in Europe to make it possible for those who work for foreign companies, and are not Serbian citizens ,to keep doing their job while still living in Serbia.

The new regulations, he added, should start being implemented on January 1. He explained that everyone who wants to live in Serbia and work for companies abroad should prove that:

• they have a gross salary of more than EUR 3,500
• they are employed by a foreign company
• they are not residents of Serbia
• they are foreigners in order to obtain residence and a work permit for a year in Serbia.

“Thus, they will be able to work and spend money here in Serbia, which is much cheaper than other countries. Our country is safe, there is no racism and we also have a very good social life,” Đorđević has said.

The Minister cited the example of Bali, Indonesia, where 50,000 foreigners work among four million islanders, of which the island has EUR 65 million in revenue per month, or EUR 780 million per year from VAT.

“I think we can be very similar to them. The forecasts are that by 2035, approximately one billion people will work remotely. With the promotion of our country and tourism, I believe that we will attract foreign citizens to work and live in our country, and thus contribute to the income of Serbia,” Đorđević added.

Team Eurofast Serbia will monitor the start of the above mentioned implementation of the new regulations and will be in position to offer professional advice and assistance to its clients as requested.

Eurofast is a regional business advisory organisation employing local advisors in over 22 cities in South East Europe & Middle East (SEEME). The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services in South East Europe & Middle East.

For further information please contact Natasa Nedic, Country Executive, at
natasa.nedic@eurofast.eu

Natasa Nedic,
Master of International Management
Country Executive Serbia
natasa.nedic@eurofast.eu

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