Ukrainian Entrepreneurs in Serbia: Their Number Has Tripled Since 2022

The number of Ukrainian entrepreneurs and companies in Serbia has significantly increased since the beginning of the full-scale war. As of 2026, over 480 businesses with majority Ukrainian capital operate in the country.

This was reported in an interview with the agency «Interfax-Ukraine» by the President of the Chamber of Commerce and Industry of Serbia, Marko Cadez.

According to him, there are currently 161 registered companies and 320 entrepreneurs in Serbia owned by citizens of Ukraine. Most often, Ukrainians work in the fields of information technology, consulting, trade, and small business.

After 2022, Ukrainian businesses began actively relocating to Serbia

For comparison, in 2021, there were 202 Ukrainian companies and only 117 entrepreneurs operating in Serbia. Although about 40% of businesses opened before the war subsequently ceased operations, the number of new registrations has significantly increased since 2022.

Marko Cadez noted that not a single company or entrepreneur with Ukrainian capital was closed in the country last year, indicating the stability of Ukrainian businesses in the Serbian market.

Overall, the number of Ukrainian entrepreneurs in Serbia has nearly tripled compared to the pre-war period.

Ukrainians Are Increasingly Opening IT Companies and Consulting Firms

According to the President of the Chamber of Commerce and Industry of Serbia, the structure of Ukrainian business is also changing. While a significant portion previously consisted of trading companies, now more and more entrepreneurs are working in knowledge-based and digital technology sectors.

In particular, the number of IT companies, consulting agencies, design studios, and other service businesses increases every year.

This trend reflects a general European trend where Ukrainian specialists and entrepreneurs create their own companies abroad, utilizing professional experience and remote work formats.

For Ukrainians considering Serbia as a country to relocate to or establish their own business, this data indicates the formation of a large business community and a favorable environment for entrepreneurial activity. The growth in the number of Ukrainian companies also facilitates the search for partners, employees, and business contacts among compatriots.

It is worth noting that the President of Serbia Vucic announced a possible resignation after the protests.