Which Balkan Country Should You Set Up a Company In? (Comparison)
A practical comparison of North Macedonia, Serbia, Bulgaria and Kosovo for company formation.
- 1
Define your goal
- 2
Compare the four countries
- 3
Choose the country that fits you
- 4
Set up the company
What to consider when deciding?
The right country depends on your activity, target market, tax structure, residence/work permit plan and operating costs. There is no single 'best country'; there is the one most suitable for you.
Below we compare the four countries in broad terms. This is a general framework; we make the final decision by assessing your concrete situation together.
Four countries, in broad terms
North Macedonia: with the DOO/DOOEL structure that can be set up with low capital and Turkish-supported processes, it is a practical entry option. Serbia: with a large domestic market and developed trade links, it is a strong hub for regional operations.
Bulgaria: stands out for those seeking EU market access, as an EU member that adopted the euro in 2026. Kosovo: offers a dynamic, euro-using environment with a young population open to entrepreneurship.
The best fit for you
Tax rates, accounting obligations and permit processes vary from country to country; that is why the comparison should be made with your own figures. We plan every step in Turkish, from choosing a company type to opening a bank account.
This article is for information purposes. Contact us to clarify which country best fits your goals.
Let's start the process together
Let us answer your questions and plan the best path for you together.