If you are a foreigner, it is advisable to get introduced by a local intermediate. In Serbia’s business life it is important to build a network. A business meeting usually takes place in a ‘kafana’, this is a coffee house where mainly older business men and politicians meet in the morning. Serbs are not very formal but hierarchy is very important therefore it is considered disrespectful to interrupt someone who is speaking, especially a person of authority. It is not advisable to do business in the months July & August because this is their holiday season.
The custom in Serbia is to shake the hands of all attendees at a meeting and look business partners in the eyes for sincerity. When a woman is present you’ll have to shake her hand first. The formal accepted dress code during business meetings is a suit for men and a decent dress for women.