Invest in Serbia: A Complete Guide for Foreign Investors 

Serbia has emerged as one of Southeast Europe’s most appealing destinations for foreign investors. The country offers competitive tax rates, a strategic geographic position, and a quickly developing business environment. 

Serbia offers strong advantages for entrepreneurs, established companies, and global investors seeking new growth opportunities. 

In this guide, we explore everything foreign investors need to know about how to invest in Serbia, including benefits, key industries, and the best pathways to invest in Serbia.  

Serbia’s economic landscape has become increasingly attractive over the past decade. The Serbian government has improved the business climate by simplifying company formation, lowering taxes, and offering numerous incentives.  

Serbia’s central location, which connects Europe, Asia, and the Middle East, makes Serbia an important logistics and manufacturing hub. 

1. Competitive 15% corporate profit tax rate 
2. Access to over 1 billion consumers through free-trade agreements 
3. Skilled, multilingual workforce with competitive labor costs 
4. Growing tech and manufacturing sectors 
5. Government incentives for capital investment and job creation 
6. Strategic geographic location for exports and logistics 

Serbia offers a diverse and rapidly growing range of investment sectors. Below are the most promising industries. 

Information Technology (IT) and software development 

Serbia’s tech and IT sector is one of the fastest growing in Europe. The country has positioned itself as a leading innovation hub, with strong talent coming from local technical universities and a massive startup ecosystem. 

Key strengths: 

• Large pool of skilled software engineers 
• Competitive salaries compared to EU countries 
• Strong startup culture supported by incubators and accelerators 
• Growing focus on AI, fintech, gaming, and blockchain investment projects 

Key players in Serbia’s IT and software development sector: 

1. Microsoft 
2. Luxoft 
3. Endava 
4. ComTrade Group 

Manufacturing and industrial production 

Manufacturing is a cornerstone of the Serbian economy and a core attraction for foreign investment. Competitive labor prices, strategic location, and strong transport infrastructure make Serbia ideal for production of exports.  

Some of the most lucrative industries in Serbia’s manufacturing sector include:  

• Automotive and auto-parts production 
• Electronics and machinery 
• Aerospace components 
• Textiles and apparel manufacturing 

Key players in Serbia’s manufacturing and industrial production sector: 

• Michelin 
• Continental 
• Fiat Chrysler Automobiles 
• Schneider Electric 
• Siemens 
• Falke 

Agriculture and food processing 

Serbia has very fertile land and a long agricultural history with strong export potential. Investors are showing increasing interest in high-value production and processing. 

Some of the most promising sectors include: 

• Grain, fruit, and vegetable production 
• Organic farming 
• Meat and dairy processing 
• Wine and beverage manufacturing 

Key players in Serbia’s agriculture and food processing sector: 

• Nestle 
• PepsiCo 
• Molson Coors 
• Strauss 
• Heineken 
• Coca-Cola 

Real Estate and construction 

Real estate in Serbia has expanded rapidly due to increased foreign interest, urban development, and tourism growth. Belgrade, Novi Sad, and Niš are the main hotspots for buying property in Serbia.  

There are a range of opportunities for investment in Serbian real estate and construction, including: 

• Residential property development 
• Commercial real estate 
• Hospitality and tourism infrastructure 
• Logistics centers and industrial parks 

The Serbia Residency by Investment program allows foreign investors to qualify for a temporary residence permit by making a real estate investment in Serbia. Sometimes referred to as “obtaining a residence permit through real estate”, the visa allows individuals to acquire permanent residency after three years, with the possibility of eventually acquiring Serbian citizenship.  

Renewable energy 

The renewable energy sectors in Serbia are growing quickly. The government has introduced incentives for green energy investors. 

Serbia is expanding its renewable energy sector, with milestones like the Lapovo solar plant, Kovačica 2 wind farm, and Bač solar park. Solar capacity is set to reach 281 MW by 2025, highlighting strong investment and growth. 

Some growing renewable energy sectors in Serbia include: 

• Solar and wind farms 
• Biomass energy 
• Hydropower modernization 
• Energy-efficiency projects 

Key players in Serbia’s Renewable energy sector: 

• Fintel Energija  
• Fortis Energy 
• RP Global 
• Alcazar Energy 

Tourism and Hospitality 

Serbia’s tourism sector is rapidly growing, thanks to domestic and international investments. Major hotel groups, tour operators, and emerging boutique accommodations are expanding across cities like Belgrade, Novi Sad, and Niš. 

Some highly potential areas to invest in Serbia for foreigners include: 

• Boutique hotels and resorts 
• Rural and eco-tourism 
• Wellness and medical tourism 
• Tourism-related transport and services 

Serbia has 15 free economic zones that provide investors with significant advantages, including exemptions from taxes and customs duties on goods, machinery, and equipment. Open to both local and foreign companies, these zones support activities such as manufacturing, storage, trade, and financial services. 

The 15 free zones include: 

To attract investors, Serbia offers tailored incentive packages depending on project size and sector. These may include grant funding, income tax breaks, customs exemptions, and benefits within free zones.  

The Development Agency of Serbia acts as a central point for supporting foreign investors, offering assistance throughout the setup process. 

Starting a business in Serbia is relatively fast and cost-effective. Registration can be completed in a few days, with clear procedures and streamlined requirements, making the whole process simple and quick.  

Additionally, the Serbia Residency by Company Formation program provides a simple route for foreign nationals to obtain residency while launching a business in Serbia. Ideal for entrepreneurs and investors, it allows access to the country’s growing economy and strategic location at the crossroads of Europe and Asia. The program is highly accessible, with no minimum investment requirement and no nationality restrictions for applicants. 

Serbia has seen a steady increase in foreign direct investment (FDI), with inflows reaching over €5.64 billion in 2024 according to the World Bank. This major drive is mostly seen from technology, manufacturing, and renewable energy sectors.  

Investors can leverage Serbia’s skilled workforce, competitive costs, and proximity to European markets to expand operations efficiently and gain access to regional supply chains.