Legal laws which regulate private security sector in the Republic of Serbia have arrived after twenty years of legal vacuum in this area, and they have been the object of expectations of many private security experts and practitioners in Serbia. They regulate the licensing process of private security officers. Aim of this research was to identify key characteristics of the licensing process which implies training course in licensed training centers, exam in front of the commission of the Ministry of Internal Affairs and, finally, licensing. The aim was also to identify values points, experiences and opinions of private security officers and candidates in the process of their course, exam and licensing. That was the reason to use the method of a semi-structured interview in our qualitative research. We interviewed eleven respondents - private security officers who are working or have worked for eight different private security agencies in the Republic of Serbia. They all have a license which is regulated with new Private security law. Research helps us to identify key problems in the licensing process. Candidates who are working in some private security agencies are not free from the job days during the course. They work night shifts and then go to the training center or go to work after classes. Also, there is the question of meeting fund of the course hours and whether all candidates go to the course at all. The criteria were lowered at the exam, and there is a problem of funding licensing process. Some of the candidates are paying their course by self, some are financed by the employer. In that case, the employer refunds it in the future or candidate have a contractual obligation to work with that employer in the future. Licensing process has its good sides as well. Candidates gain knowledge in security sciences, law and their rights. They are developing skills of self-defense and overcoming the resistance and developing their physical strength. The development of security culture is encouraged as well as a desire for improvement of security sector officers and candidates.