Welcome to Serbia
Home of the new
R&D hub in Europe

Welcome to Serbia
Home of the new
R&D hub in Europe

Welcome to Serbia
Home of the new
R&D hub in Europe

Foreword

Digitalization and the fourth industrial revolution provided a unique opportunity for our country and its citizens to overleap.
Join us to continue building on our mutual success.

Ana Brnabic, Prime Minister of the Republic of Serbia, 2017-2024

Foreword

Digitalization and the fourth industrial revolution provided a unique opportunity for our country and its citizens to overleap.
Join us to continue building on our mutual success.

Ana Brnabic, Prime Minister of the Republic of Serbia, 2017-2024

ICT is by far the largest net exporting industry of the country, with annual export over 3,44 Billion Euros in 2023, growing over 26% annually (CAGR) for the past 11 years.

Serbia has 3rd fastest growing ICT export in Europe in 2016-2022.

ICT is by far the largest net exporting industry of the country, with annual export over 3,44 Billion Euros in 2023, growing over 26% annually (CAGR) for the past 11 years.

Serbia has 3rd fastest growing ICT export in Europe in 2016-2022.

Serbia is open to business

Serbia is open
to business

Financial Times has ranked Serbia #1 in the world in greenfield FDI performance, two times in the last 3 years

According to Financial Times: Serbia is “punching almost at 12 times above its weight” in attracting foreign direct investments.

Serbia now proudly hosts R&D centers
of some of the best global companies:

Serbia now proudly hosts R&D centers of some of the best global companies:

These amazing results
were achieved due to

These amazing results were achieved due to

1

Engineering excellence & available talent

  • Traditionally strong STEM education
  • Shanghai Ranking 2023, University of Belgrade: 301-400
    (Physics 201-300)
  • Compulsory coding curriculum starting in 5th grade:
    Scratch, Python, Pygame, Jupyter
  • English Proficiency Index 2023: High Proficiency
    (24th out of 113 countries, Belgrade 19th among cities)

1

Engineering excellence & available talent

  • Traditionally strong STEM education
  • Shanghai Ranking 2023, University of Belgrade: 301-400
    (Physics 201-300)
  • Compulsory coding curriculum starting in 5th grade:
    Scratch, Python, Pygame, Jupyter
  • English Proficiency Index 2023: High Proficiency
    (24th out of 113 countries, Belgrade 19th among cities)

 “

 “

Quotes of
tech leaders

Mr. Rohan Kumar | Corporate Vice President Azure Data

The team in Serbia demonstrated amazing talent as they overcame significant technical challenges.

Mr. Dragoljub Damjanovic | General Manager Schneider Electric Serbia

Schneider Electric recognized knowledge, innovation and experience of young engineers in the Republic of Serbia and invested resources in the DMS from Novi Sad, which is now a global center of Schneider Electric research.

Mr. Sasha Cioringa | General Manager Continental Automotive Serbia

The energy and competencies of our people enable us to grow so fast that in only two years of operation, we were able to create the complete product. For the international CVS R&D Innovation Award, among 110 applications from 16 locations, Novi Sad center won first prize!

Mr. Nikola Todorovic | Wonder Dynamics

Serbia was a perfect location for us since this region has an incredible group of young and talented people among both the VFX artist and the AI engineering communit.y

Mr. Alan O’Herlihy | CEO Everseen

Belgrade’s R&D Center contribution has been central to our most recent product innovations and inventions recognized by Google in association with Deloitte Ireland as the best technological innovation in 2020.

Mr. Branko Milutinovic | CEO and Co-founder Nordeus

Serbia’s great advantage lies in the fact that we, as a nation, are naturally inclined towards science, and our most talented pupils and students are attracted to technology.

Mr. Vladimir Mastilovic | Founder 3Lateral

We plan to continuously expand our R&D capacities and to closely tie those into our future products.

Mr. Nebojsa Djurdjevic | CEO Digital Serbia Initiative

For years, Serbia has been home to great engineers developing products for global leaders such as Microsoft, Apple and Amazon.

2

2

Competitive operating costs

Competitive operating costs

Tax incentives

Tax incentives

for development of the knowledge-based economy in Serbia

Only 3% corporate income tax (CIT) for revenues from intellectual property developed in Serbia.
Double-counting qualified costs of R&D on income statements lowers CIT.
70% lower tax and contributions for salaries within R&D projects (starts on March 1st 2022).
70% lower tax and contributions for repats and foreigners for 5 years after they settle in Serbia if they have a salary 3x the national average or more.
ESPs are taxed only on capital gains at the moment of sale, with Step Up in Basis for those who come with assets from abroad. ESPs can easily be granted from Serbian or US-based legal entities.
Startup founders pay no salary tax and contributions during the first three years.
CIT credit worth 30% of the investment in a startup.
Tax credit for annual income tax worth 50% of the investment.

3

Supportive regulations

New regulations for employment of foreigners mean that getting a work permit in Serbia is a quick and efficient process, so businesses can easily and quickly scale up.

Serbian IP Protection laws are fully aligned to EU standards. They were changed in close cooperation with MNEs, drawing from their global experience, to make Serbian laws fit for purpose in the digital age.

Law on Digital Assets is in place since 2020. Companies are raising funds and crypto exchanges are licensed operations.

Serbia introduced two regulatory sandboxes so far. Within FinTech sandbox, innovative payment solutions can operate in limited market with only supervision instead of full registration.

Within MedTech sandbox, unregistered medical devices can be imported for R&D on a fast track procedure, if startup is recognized in the National Innovation Registry.

New sandboxes are under evaluation and additional ones can be introduced if needed.

It is possible to grant Stock Options / Employee Share Plans from a ltd company and without the stockholding entity. ESPs from foreign legal entities are also possible.

3

Supportive regulations

New regulations for employment of foreigners mean that getting a work permit in Serbia is a quick and efficient process, so businesses can easily and quickly scale up.

Serbian IP Protection laws are fully aligned to EU standards. They were changed in close cooperation with MNEs, drawing from their global experience, to make Serbian laws fit for purpose in the digital age.

Law on Digital Assets is in place since 2020. Companies are raising funds and crypto exchanges are licensed operations.

Serbia introduced two regulatory sandboxes so far. Within FinTech sandbox, innovative payment solutions can operate in limited market with only supervision instead of full registration.

Within MedTech sandbox, unregistered medical devices can be imported for R&D on a fast track procedure, if startup is recognized in the National Innovation Registry.

New sandboxes are under evaluation and additional ones can be introduced if needed.

It is possible to grant Stock Options / Employee Share Plans from a ltd company and without the stockholding entity. ESPs from foreign legal entities are also possible.

4

Serbia invested heavily into modern infrastructure…

4

Serbia invested heavily into modern infrastructure…

Four Science-Technology Parks: in Belgrade, Novi Sad, Niš and Čačak, offer the ecosystem of product development labs, mentors, investors and potential partners, knowledge sharing and all kinds of assistance for faster growth. Additionally, BioSense Institute is European center of excellence for agritech and World Economic Forum Center for the Fourth Industrial Revolution is Serbian connection with global network.

Four Science-Technology Parks: in Belgrade, Novi Sad, Niš and Čačak, offer the ecosystem of product development labs, mentors, investors and potential partners, knowledge sharing and all kinds of assistance for faster growth. Additionally, BioSense Institute is European center of excellence for agritech and World Economic Forum Center for the Fourth Industrial Revolution is Serbian connection with global network.

STP Belgrade

STP Belgrade

visit us at ntpark.rs

STP Novi Sad

STP Novi Sad

visit us at ntpns.rs

STP Niš

STP Niš

visit us at ntp.rs

STP Čačak

STP Čačak

visit us at ntpcacak.rs

BioSense

BioSense

visit us at biosens.rs

C4IR Serbia

C4IR Serbia

visit us at c4ir.rs

…supported by a state-of-the-art Data center with NVIDIA Supercomputer

  • The most advanced in the region in terms of technical and security standards
  • Hosts key information and communication infrastructure for the Republic of Serbia
  • Hosts Nvidia supercomputer with AI platform of the latest generation
  • The Center’s services are, in addition to state institutions, also available to commercial users
  • The Center meets the Tier 4 standard, ISO 27001 security standard, ISO 9001 and ISO 20000 quality standards

Visit us at www.dct.rs/en/

  • The most advanced in the region in terms of technical and security standards
  • Hosts key information and communication infrastructure for the Republic of Serbia
  • Hosts Nvidia supercomputer with AI platform of the latest generation
  • The Center’s services are, in addition to state institutions, also available to commercial users
  • The Center meets the Tier 4 standard, ISO 27001 security standard, ISO 9001 and ISO 20000 quality standards

Visit us at www.dct.rs/en/

5

Serbia is conveniently located…

5

Serbia is conveniently located…

On the main road corridors

between Western and Central Europe and Turkey. Highway connection with EU countries: Hungary, Croatia and Bulgaria.

On the Danube River

Connected with Central European countries at the West and with the Black Sea at the East.

Belgrade airport is increasingly becoming international hub,

with annual growth rate of more than 20% and almost 8 million passengers in 2023.

Winner of the 2023 Airport Service Quality Award.

Direct lines to USA, EU, UK, Middle East, China and many more locations.

6

Serbia is politically and economically stable

6

Serbia is politically and economically stable

  • Stable and reliable governance for 10+ years
  • EU accession country
  • GDP growth 2,5% in 2023, expeced 3,5% in 2024
  • GDP in 2023 69 bn Euros, expected to grow to 100 bn in 2027
  • Public debt well below Maastricht definition level of 60%
  • The largest services export growth in Europe in 2016-2022

  • Stable and reliable governance for 10+ years
  • EU accession country
  • GDP growth 2,5% in 2023, expeced 3,5% in 2024
  • GDP in 2023 69 bn Euros, expected to grow to 100 bn in 2027
  • Public debt well below Maastricht definition level of 60%
  • The largest services export growth in Europe in 2016-2022

Now, Serbia is betting big on
two core technologies:

Now, Serbia is betting big on
two core technologies:

Biotechnology

Artificial Intelligence

In summary, invest in Serbia

In summary, invest in Serbia

Serbia is also a great place to live

Serbia is also a great place to live

A booming tourist destination topping international rankings

With the number of foreign tourists growing 12% every year, Serbia is recognized as a vibrant crossroads of East and West, with a bursting and exciting cultural and social scene.

With the number of foreign tourists growing 12% every year, Serbia is recognized as a vibrant crossroads of East and West, with a bursting and exciting cultural and social scene.

A globally recognized destination

Global Livability Index: Belgrade as one of the top 5 improvers in the world

“The 18 best budget travel destinations for 2019” (in the world)

10 of the best alternative city breaks in Europe

The 52 Places Traveler: In Belgrade, Nighttime is the right time

Serbia also welcomes
the world to
Specialized Expo 2027

A globally recognized destination

Global Livability Index: Belgrade as one of the top 5 improvers in the world

“The 18 best budget travel destinations for 2019” (in the world)

10 of the best alternative city breaks in Europe

The 52 Places Traveler: In Belgrade, Nighttime is the right time

Major cities are

Major cities are

Belgrade

The largest center of business, education, culture and science.

Often compared to Berlin, Belgrade has a thriving nightlife driven by clubs on the river, with a vibrant atmosphere, abundant street art, and bustling bars and night clubs throughout the city.

Novi Sad

The second largest city in Serbia. A unique university, business, and startup center housing many foreign companies, such as Continental.

Novi Sad is also a cultural hotspot: it is the hometown of Exit, one of the best music festivals in Europe, and was designated the European Youth Capital 2019 and the European Capital of Culture 2021.

Niš

An important international crossroads between South and East. A city with a great historical heritage and tradition, and home to Philip Morris HQ.

Kragujevac

Home to FIAT and the Serbian mobility ecosystem, with a two-century-long industrial tradition and 60 years of experience in automotive production.

Serbia is your
opportunity to establish
R&D center and second HQ

Serbia is your
opportunity to establish
R&D center and second HQ

Serbia is your
opportunity to establish
R&D center and second HQ

For more information, please contact us at:
innovations@ras.gov.rs

For more information, please contact us at:
innovations@ras.gov.rs