In just over three months since the start of the Ukrainian crisis, Russians have opened more than 1,000 businesses in Serbia, and the latest figures show that over 10 companies were registered daily, mostly dealing with new technologies.
According to the Serbian Business Register Agency (APR), since the beginning of the war in Ukraine, from February 24 to May 31, Russians have opened a total of 1,017 companies in Serbia.
The data show that software development ranks first, wholesale trade ranks second, followed by business and IT-related consulting activities (which rank 3rd and 4th). The 5th place in this category is shared by advertising agencies, restaurants, and mobile dining facilities. New business, but also political circumstances and increasing pressure on Serbia regarding relations with Russia, have lately caused Russians to rethink settling in Serbia. While Serbia was a very attractive destination for Russians in March and April, whose arrival caused apartment rental prices to soar, there have been some changes lately.
It seems that Serbia is now becoming a stopover for them on their way to Dubai. Almost all real estate agents say that Dubai gives Russians more security and is a good destination for business. Many are now afraid of the growing political pressure on Serbia. “There are fewer Russians today who want to rent an apartment in Belgrade for six months. Most of them are looking to rent one month or two. Earlier, we had dozen Russian clients a week looking for an apartment, now we have two at most,” one real estate agent says.
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