The Russians are shutting down some companies in Serbia: What is happening?

28.09.2024. / 16:50

• Serbia became a destination for Russians who were looking for a new beginning

• 1,919 companies with majority Russian capital were founded from January 2022 until now

With the start of the war in Ukraine in 2022, Serbia has become a destination for Russians looking for a fresh start. During this period, many decided to relocate, starting businesses and integrating into the local community.

The opening of Russian companies, especially in sectors such as technology, tourism and hospitality, has led to a revival of the economy and the creation of new jobs. However, by 2024, the situation has changed significantly.

As Bojan Stanić from the Serbian Chamber of Commerce said, from January 2022 until now, 1,919 companies with majority Russian capital have been established. In the meantime, 91 of those companies have been shut down, reports Blic.

“It can be said that the number of closed companies increased in 2024 (in 2023, 25 were closed, while in 2024, 66 were closed). Most of the companies were founded in the field of IT services, trade and consulting services. We do not have an exact estimate of the number of Russians who entered the country and how many of them were granted residence, the estimate is that about 200 thousand entered the country“, said Bojan Stanić

As recalled, after the outbreak of the war in Ukraine, Serbia became an attractive destination for Russians who were looking for security and stability. The Serbian government, in its desire to attract foreign investors, offered favorable conditions for the registration of companies, which further facilitated the entry of Russian entrepreneurs into the market.

FLASH