Side-by-side on the points that decide where you incorporate: corporate tax, FATF standing, sanctions exposure, data-protection law, arbitration enforceability, apostille, foreign ownership and local-director requirements.
Jurisdiction table checked: 2026-10-02
| Cyprus [CY] | Serbia [RS] | |
|---|---|---|
| Region | EU | Europe (non-EU) |
| Corporate tax rate | 15% | 15% |
| FATF status | compliant | compliant |
| Sanctions exposure | No | No |
| EU list of non-cooperative jurisdictions | not applicable — EU member state | not listed |
| Data-protection law | GDPR | ZZPL (2018) |
| New York Convention | Yes | Yes |
| Apostille Convention (1961) | Yes | Yes |
| Foreign ownership | Yes | Yes |
| Local director requirement | No | No |
Cyprus is an EU member state. The list covers third countries only, so a member state never appears in either annex.
Serbia appears in neither annex of the EU list as at the current revision.
The applicable data-protection statute is GDPR (in force since 2018). If you process EU/UK personal data you also need a valid transfer mechanism into Cyprus.
The applicable data-protection statute is ZZPL (2018) (in force since 2019). If you process EU/UK personal data you also need a valid transfer mechanism into Serbia.
Neither is obviously right until you know what you are optimising for — tax, banking, enforcement or speed.
Informational resource curated by the Ignito legal practice and cross-checked against primary sources. This is not legal advice and does not create a lawyer-client relationship. Rules change — verify against the primary source before you sign or file. Terms of Use