Ukrainian Entrepreneurs in Serbia: The Number of Businesses Has Nearly Tripled Compared to Pre-War Levels

Since the start of the full-scale war, the number of Ukrainian businesses in Serbia has nearly tripled — to over 480 companies and entrepreneurs with majority Ukrainian ownership. Find out what sectors they operate in and how Ukrainians are thriving in Serbia

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There are currently over 480 businesses with majority Ukrainian ownership registered in Serbia — 161 companies and 320 sole proprietors. This was reported by Marko Čadež, president of the Serbian Chamber of Commerce and Industry, in an interview with Interfax-Ukraine, citing data from the Serbian Business Registration Agency.

For comparison: in pre-war 2021, there were 202 Ukrainian companies and 117 entrepreneurs operating in Serbia. Even taking into account that about 40% of them were subsequently closed, the overall growth after 2022 was significant. “Last year, for example, not a single company or entrepreneur was closed,” Chadezh emphasized.

Read also: Ukraine’s economy during the war — how is business adapting and growing despite the hostilities?

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IT, consulting, and small business — the main sectors

According to the president of the Serbian Chamber of Commerce and Industry, Ukrainian entrepreneurs are primarily concentrated in the fields of IT, consulting services, trade, and small business.

At the same time, Čadež notes a clear trend toward structural change: Ukrainian businesses are gradually moving away from traditional trade and shifting toward digital and knowledge-based services.

“The number of IT entrepreneurs, consulting firms, and design studios is growing year after year,” he said.

If you are considering Serbia or another country for starting a business or relocating, you can get advice from a business lawyer on the Visit Ukraine platform — specialists will assist with registration, legal issues, and choosing the optimal business structure abroad.

We remind you! European countries vary significantly in terms of the tax burden on businesses: from 9% to 35%. The highest rates are found in Malta, while Hungary remains one of the most tax-friendly destinations. Read more about where in Europe businesses pay the most taxes and how rates are changing.

Photo: Freepik

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