SIEPA – Serbia Investment and Export Promotion Agency
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SIEPA has announced a public call for another round of financial assistance for new investment projects in Serbia.
Application deadline is March 1, 2013.
The Serbia Investment and Export Promotion Agency (SIEPA) helps companies do business and invest in Serbia. SIEPA provides foreign investors with the research and resources to make informed decisions and successfully execute investments. The Agency provides importers of Serbian goods and services with practical help in getting what they need, as efficiently as possible.
SIEPA is a one-stop service provider. Whether it’s taxes, licensing, investment opportunities, permits, tariffs, or linking importers with the right producers, SIEPA is here to help.
On February 28, 2001, the Assembly of the Republic of Serbia created SIEPA as an independent entity. The agency’s mandate includes:
• Informational publications to help foreign companies operate in Serbia
• Sector analyses
• Helping businesses and investors obtain permits and licenses
• Helping Serbian exporters service international markets
• Linking potential investors to Brownfield and Greenfield opportunities
• Maintaining an export database
• Helping Serbian companies make the most of their competitive advantages
• Advising the Government on possible changes to the legal and regulatory framework relating to investments and exports
Financial incentives for investors in Serbia
In addition to existing benefits such as its strategic geographic location, duty-free exports to the countries of Southeast Europe and Russia, the lowest corporate tax rate in Europe of 10% and an educated and experienced workforce available at a competitive cost, Serbia offers financial support to investors
Funds may be awarded for financing projects in manufacturing, the internationally marketable services sector and strategic projects in the field of tourism. Projects in the primary agriculture, hospitality, and trade/retail sectors are not eligible to receive funding, nor are projects which involve the production of synthetic fibers or coal.
For standard-scale Greenfield and Brownfield projects in the manufacturing, export-related services sector and tourism, non-refundable state funds are offered in the range between €4,000 and €10,000 per new job created within three years of the day of signing the contract on awarding funds.
For large investors, a special financial package is available. If a project's value exceeds €200 million, with the minimum of 1,000 new jobs created within 10 years, the state may award up to 17% of the investment's total value.Large investments - projects of over €50 million that create at least 300 new jobs within 10 years of the day of signing of the agreement on awarding funds - are eligible to receive up to 20% of the project's value.
Medium-sized projects - investments of over €50 million that create at least 150 new jobs within 10 years of the day of signing of the agreement on awarding funds - are eligible to receive up to 10% of the total investment value.
Funds are awarded in accordance with the location of the investment, the degree to which the project fulfills the terms and conditions put forth in the decree.
Applications are to be submitted to the Serbia Investment and Export Promotion Agency (SIEPA). All necessary documentation will be available at the Agency’s web-site (www.siepa.gov.rs) after the invitation for application is published.
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