Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the licence decision, including banking and payment rails.
Get a crypto license in Serbia.
The Balkans' most complete framework: Serbia's Law on Digital Assets has run since 2021, with the National Bank licensing virtual-currency services and the Securities Commission covering tokens - on a 15% flat-tax base. We build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Serbia in brief
A real statute, running since 2021.
Serbia legislated early and completely: the Law on Digital Assets (Official Gazette 153/2020) has applied since June 2021, splitting supervision the sensible way - the National Bank of Serbia licenses and supervises services connected with virtual currencies, while the Securities Commission covers digital tokens. The licence architecture is graduated: minimum capital runs from €20,000 for advisory-scope services through €50,000 to €125,000 for the full trading-platform scope, with fit-and-proper vetting of owners and management, a public register of licensed providers at the NBS, and the possibility of holding both regulators' permissions where a model spans currencies and tokens.
Around the law sits one of Europe's most underrated operating bases: a 15% flat corporate tax with a 15% capital-gains rate, VAT exemption on virtual-currency transfers, Belgrade's deep and affordable engineering talent, and an IT sector the state actively courts. Serbia is not in the EU - there is no passport, but for groups serving the Balkans, the CIS-adjacent market, or simply seeking a licensed, low-cost operational hub with a statute that predates most of Europe's, Serbia's file earns its place.
The Balkans' most complete framework: the Digital Assets Law since June 2021 - NBS for virtual currencies, the Securities Commission for tokens, capital from €20,000.
Around it: 15% flat taxes, VAT-exempt transfers and Belgrade's engineering bench. No EU passport - the real trade.
The dual track
Virtual currencies at the NBS - tokens at the Commission.
The law licenses by asset type: virtual-currency services under the National Bank, digital-token services under the Securities Commission. Combinable where your model spans both. We fix the scope first, then build once.
Two tracks under one law. Currencies at the NBS, tokens at the Commission, combinable.
01 - NBS · VIRTUAL CURRENCIES
Exchange, custody & transfer
The core licence for virtual-currency services. Exchange, custody, transfer, and platform operation. Issued by the National Bank of Serbia with capital scaled from €20,000 to €125,000 by scope.
The core licence for virtual-currency services. Exchange, custody, transfer, and platform operation. Issued by the National Bank of Serbia with capital scaled from €20,000 to €125,000 by scope.
- ✓Crypto ↔ dinar and crypto ↔ crypto exchange
- ✓Custody and administration of virtual currencies
- ✓Transfer and portfolio-adjacent services
- ✓Platform operation at the top capital tier
- ✓Fit & proper owners and management
- ✓Entry in the NBS public register
02 - SSC · DIGITAL TOKENS
Dual-track law since 2021Token services & issuance
Digital-token services. Issuance support, trading, custody of tokens with investment features. Run under the Securities Commission's parallel track, with white-paper approval for public offerings.
Issuance, trading and custody of tokens with white-paper approval. The Commission's parallel track.
- ✓Token issuance and white-paper approval
- ✓Trading and platform services for tokens
- ✓Custody of digital tokens
- ✓Advisory and placement services
- ✓Combinable with the NBS licence
- ✓One law, two supervisors, full coverage
Costs and timelines are confirmed for your case before any work begins. Capital requirements of €20,000-€125,000 follow the law's service groups; regulator fees and substance costs are itemised in your quote.
Why Serbia
The Balkans' most complete framework - at flat-tax cost.
The framework is the Law on Digital Assets, supervised by the NBS and the Securities Commission. A statute older than MiCA, in a country that runs on 15%.
✓
A statute since 2021
Serbia's law predates MiCA and most of Europe's regimes. Supervisory practice exists, the register is public, and the desk processes rather than improvises.Older than MiCA; practice exists.
✓
Graduated capital - from €20,000
Advisory scope opens at €20,000; the full platform tier is €125,000. Floors that let real businesses enter at their true scale, among the most accessible in licensed Europe.Among licensed Europe's most accessible.
✓
15% flat, across the board
Corporate profit at 15%, capital gains at 15%, VAT-exempt virtual-currency transfers. A tax system you can model on one page.One-page tax modelling.
✓
Belgrade's engineering bench
One of Europe's strongest development talent pools at a fraction of Western cost. The operational hub argument stands on payroll alone.Top talent at regional cost.
✓
Dual-regulator completeness
Currencies at the central bank, tokens at the Securities Commission. One law covers the whole asset spectrum, with combinable permissions for full-stack models.The whole asset spectrum, one law.
✓
The regional position
Licensed presence in the Balkans' largest market, bridging EU-candidate territory and CIS-adjacent flows. With EU-alignment reform expected as accession advances.Balkans' largest market; EU alignment ahead.
How it compares
How Serbia differs from other routes.
Serbia offers licensed substance without EU passporting. The real trade, compared below.
Serbia vs other jurisdictions
| Feature |  Serbia | Other jurisdictions |
|---|---|---|
| Regulatory regime | Digital Assets Law - NBS + SSC | MiCA or no regime at all |
| Capital entry | From €20,000 | €50k-€150k under MiCA |
| Taxes | 15% flat CIT and CGT | 10-30% typical |
| EU passport | None - regional play | MiCA covers 27 states |
Regulatory regime
SerbiaDigital Assets Law - NBS + SSC
Other jurisdictionsMiCA or no regime at all
Capital entry
SerbiaFrom €20,000
Other jurisdictions€50k-€150k under MiCA
Taxes
Serbia15% flat CIT and CGT
Other jurisdictions10-30% typical
EU passport
SerbiaNone - regional play
Other jurisdictionsMiCA covers 27 states
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Serbia | DA Law licences (NBS/SSC) | 15% CIT · 15% CGT | Running since 2021, graduated capital |
 Montenegro | No dedicated law - company route | 9-15% CIT | AML rules; framework pending |
 Bulgaria | MiCA CASP (FSC) | 10% CIT · 10% personal | EU passport, new desk |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | Fast, technical, predictable |
SerbiaLicense typeDA Law licences (NBS/SSC)
Taxation15% CIT · 15% CGT
RequirementsRunning since 2021, graduated capital
MontenegroLicense typeNo dedicated law - company route
Taxation9-15% CIT
RequirementsAML rules; framework pending
BulgariaLicense typeMiCA CASP (FSC)
Taxation10% CIT · 10% personal
RequirementsEU passport, new desk
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsFast, technical, predictable
Before you apply
Requirements for the Serbian licence.Requirements for the licence.
The law defines the file in statute-level detail for both tracks. The checklist below is what a passing application contains.
01
Serbian entity. A d.o.o. or a.d. with its registered office and real operations in Serbia.
02
Capital - €20,000, €50,000 or €125,000 in dinar equivalent by service group, paid in and maintained.
03
Fit & proper owners and management. Clean records, qualifications and transparent ownership to UBOs.
04
Programme of operations. Services, volumes and financials the supervisor can interrogate.
05
AML/CFT framework. KYC, monitoring and reporting to the APML, with a named compliance officer.
06
Systems and security. Platform, wallet and key-management documentation per supervisory expectations.
07
Client asset protection. Segregation of client funds and virtual currencies with documented controls.
08
Governance. Internal controls, conflicts handling and reporting lines.
09
White papers. Commission approval where tokens are publicly offered.
10
Local presence. Management and compliance reachable in Serbia; the supervisors verify.
01
Serbian d.o.o./a.d. with real operations.
02
Capital €20k/€50k/€125k by group.
03
Fit & proper owners and management.
04
Interrogable programme of operations.
05
AML with named officer (APML).
06
Documented systems and custody.
07
Segregated client assets.
08
Governance and internal controls.
09
White papers for public token offers.
10
Local, reachable management.
Reflects the Law on Digital Assets (Official Gazette 153/2020, applied since June 2021) and NBS/SSC practice as of 2026.Law 153/2020 (since Jun 2021) + NBS/SSC practice, as of 2026.
How it works
From first call to the register.
01
Perimeter and strategy
NBS track, Commission track or both. We fix the scope, capital tier and timeline in writing.NBS, SSC or both - in writing.
02
Serbian company and substance
D.o.o. formation, capital placement and the local management the supervisors vet.D.o.o., capital, local management.
03
The application file
Programme of operations, AML/CFT framework, systems and custody documentation. Complete before filing.Complete before filing.
04
Supervisory review
Question rounds with the NBS or the Commission - 4-8 months in practice for complete files. We answer every round.4-8 months; we answer rounds.
05
Licence and operation
Entry in the public register, launch under supervision, and the reporting calendar we can keep running.Register entry, launch, reporting.
Quick facts
RegulatorsNBS · Securities Commission
Law153/2020 · since Jun 2021
Capital€20k / €50k / €125k
In practice4-8 months
RegisterPublic, NBS-maintained
Corporate tax15%
Capital gains15%
VAT on VC transfersExempt
Five years of supervisory practice make the desks' expectations knowable. Files built to the law clear it.
On the ground in Serbia
Run from our Belgrade office.
Prifinance - Serbia
Belgrade · Serbia
Belgrade, Serbia
01
Serbian company formation
D.o.o. incorporation, registered office and the corporate layer the supervisors expect. Structured for the licence from day one.D.o.o., structured for the licence.
02
The licence file
Programme of operations, AML pack and systems documentation. Drafted by us and defended through NBS or Commission rounds.Defended through supervisory rounds.
03
Substance and staffing
Directors, compliance and development hires from Belgrade's deep talent pool. Real presence at Serbian cost.Belgrade hires at Serbian cost.
04
Dual-track structuring
Currency and token permissions combined where the model needs both. One group, two supervisors, no gaps.Both permissions, no gaps.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Serbia.
A one-page tax system: 15% on profits, 15% on gains, VAT-exempt virtual-currency transfers. With an R&D layer the IT sector actually uses.
Corporate tax 15%
The flat rate on platform, custody and trading profits. Ordinary deductions apply, with 60+ treaties keeping cross-border flows predictable.Flat; 60+ treaties.
Capital gains 15%
Individuals pay 15% on crypto gains under the capital-gains rules. With reinvestment reliefs available in defined cases; we model them per founder.Reinvestment reliefs exist.
VAT-exempt transfers
The transfer of virtual currencies is VAT-exempt under the amended VAT law. The 20% standard rate touches ordinary supplies, not the traded asset.20% only on ordinary supplies.
R&D and IP incentives
Serbia's R&D super-deduction and IP-box regime reward development activity. Engineering-heavy crypto groups routinely qualify; we structure it.Engineering groups qualify.
Payroll that scales
Competitive employer costs and salary levels far below Western Europe. The margin advantage compounds with every hire.Margins compound per hire.
Dividends and exit
Dividend withholding at 15% (treaty-reduced), no exit exotica. The full founder stack models cleanly at flat rates.15%, treaty-reduced.
Tax summary
Corporate tax15%
Capital gains15%
Dividend withholding15% · treaty relief
VAT on VC transfersExempt
Standard VAT20%
Tax treaties60+
*Figures as of 2026. Reinvestment reliefs and R&D incentives change founder outcomes. We model them before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Serbian d.o.o., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed business.
Follow Prifinance
Active across our channels.
Serbia · NBS & SSC
Launch your crypto project in Serbia with expert support.
Full-service assistance - from company registration to the licence and ongoing compliance.
Get a consultation →Free legal opinion
Is Serbia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Serbian crypto licence - what clients ask.
What licence does a crypto business need in Serbia?+
A licence under the Law on Digital Assets, in force since June 2021: the National Bank of Serbia licenses services connected with virtual currencies, and the Securities Commission licenses digital-token services - combinable where a model spans both.
What are the capital requirements?+
Graduated by service group: €20,000 for advisory-scope services, €50,000 for the middle tier, €125,000 for the full platform scope - in dinar equivalent, paid in and maintained.
How long does licensing take?+
Complete files move in 4-8 months in practice - the framework has run since 2021, so both supervisors work from precedent rather than improvisation.
What substance is expected?+
A Serbian d.o.o. with real local management, a named AML officer reporting to the APML, documented systems and segregated client assets - verified by the supervisor, not declared.
How are crypto companies taxed?+
15% flat corporate tax, VAT-exempt virtual-currency transfers, dividend withholding at 15% subject to treaties - with R&D and IP-box incentives for development-heavy groups.
And founders personally?+
Capital gains at 15%, with reinvestment reliefs available in defined cases. Salaries follow ordinary progressive rules at competitive levels.
Does the Serbian licence give EU access?+
No - Serbia is an EU candidate, not a member, so there is no passport. Groups needing licensed EU reach pair Serbia with a MiCA CASP; we run both tracks.
What is the token track for?+
Issuance, trading and custody of digital tokens - including white-paper approval for public offerings - under the Securities Commission. Models combining payments-style currencies and investment-style tokens hold both permissions.
Will Serbia align with MiCA?+
EU accession implies alignment over time, and Serbia's law already mirrors much of MiCA's logic. Licences obtained now position holders for the converged regime rather than against it.
Why Serbia rather than Bulgaria or the Czech Republic?+
Bulgaria and Czechia sell the EU passport; Serbia sells accessible capital floors, 15% flat taxes and Belgrade's engineering bench without EU-state costs. For regional models and operational hubs the maths favours Belgrade, and the EU licence can come later, from us, when the market demands it.
What licence is needed?+
DA Law licence - NBS currencies, SSC tokens.
Capital?+
€20k / €50k / €125k by service group.
How long?+
4-8 months; desks run on precedent.
Substance?+
Serbian entity, local management, AML officer.
Company taxes?+
15% flat; VAT-exempt transfers.
Founder taxes?+
15% CGT; reliefs case by case.
EU access?+
No passport - pair with MiCA.
The token track?+
Issuance and trading under the SSC.
MiCA alignment?+
Accession implies it; the law already mirrors much.
Why Serbia?+
Accessible capital, 15% flat, Belgrade talent.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Start today
One message away from your Serbian licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Serbian track fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the National Bank of Serbia, the Securities Commission of Serbia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.