Russian businessmen relocate their companies

Russian businessmen relocate their companies

Businesses are leaving Ukraine in increasing numbers, but they are not the only ones: Russian businessmen are also moving their headquarters to Serbia. In the past six weeks, 300 Russian companies have been registered in the Balkan country. Serbia, despite being under constant pressure as an EU candidate country, has not introduced sanctions against Russia, and Russian companies can trade freely from Belgrade both with their home country and Europe. So far Serbia has seen the arrival of 6,000 Ukrainian refugees.

English GAZDASÁG NAGYVILÁG 2022. ÁPRILIS 13. 14:57

Demand for office buildings up in Belgrade

Experts at real estate agencies say it is almost impossible to find vacant office space in the centre of the Serbian capital and in New Belgrade. These offices are convenient for Russian and Ukrainian businessmen arriving in the country because they can start work almost immediately after their plane lands. There’s no need to buy any furniture, as these are fully equipped, completely furnished offices.

As these properties can be rented overnight and are available to be booked for just a few days, or even months and years, in today’s unpredictable environment they provide a suitable solution for businessmen who do not know how long the war will last, or for how long they will need to settle.

Currently 1,700 Russian and Ukrainian companies are registered in Serbia

In the past six weeks, 300 Russian and six Ukrainian companies have been registered in Serbia. This brings the total number of companies operating in the country from these two countries to 1,700. Russian and Ukrainian firms operating in the Balkan countries are mainly engaged in wholesale trade, consulting, and programming. Regarding the profile of companies that have arrived in Serbia since the outbreak of the war on 24 February, their main line of business centers around computer systems and programming.

For now, they have short-term plans

The Russian an Ukrainian companies mostly rented offices in Belgrade for the short term. No one know what the future holds. Serbia is an ideal place for these companies, as the country is an EU-candidate but did not impose sanctions on Russia, and the air link connecting the Serbian capital with Moscow and St Petersburg has remained in place. The EU, however, is exerting huge pressure on Belgrade to bring its foreign policy in line with Brussels and introduce punitive measures against the Russians. Serbia has rejected that, saying the country’s leaders must always keep in mind the interest of the citizens.

Not many options in Belgrade

Belgrade has few vacant offices that are available, and renting has become even more difficult since the arrival of Russian and Ukrainian companies, according to Serbian real estate agents. Only 6 per cent of the existing capacities are available, official data shows. So far some 70 thousand IT firms have left Russia due to the sanctions. Most of them have moved to Georgia and Armenia to set up headquarters there, but some chose Serbia. Experts expect more companies to be established in the Balkans.

6000 refugees have arrived in Serbia so far

Besides the many businesses, Serbia has also witnessed the arrival of several asylum-seekers, all fleeing the war. According to official figures, the Balkan state has provided shelter to 5,698 Ukrainian refugees so far. Some were placed in refugee centers, while others are staying in private accommodations. Serbia expects more Ukrainians and, together with the EU, it has sufficient capacity to provide decent care for those fleeing war, officials at the Serbian High Commissioner for Refugees have said. Apart from the authorities, the refugees are also being helped by volunteers.

English GAZDASÁG NAGYVILÁG

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belgrade, russia, ukraine