Contributed by Jovovic, Mugosa & Vukovic.

Slovenia and Croatia adopted the Minimum Tax Act (MTA). The MTA implements Directive (EU) 2022/2523 to ensure a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the EU. The latter is a consequence of the OECD’s global fight against tax base erosion within the scope of Pillar II.

A huge new infrastructure project, a historical first USD-denominated bond issuance, and potentially transformative news on price controls and concessions make for interesting times in Montenegro, according to JPM & Partners Senior Partner Lana Vukmirovic Misic.

Montenegro's Law on Games of Chance (the "Law") was enacted in 2004 and has undergone multiple amendments since. The most recent ones came into effect on 1 January 2024. The aim of the amendments, as stated by the competent authorities, is to ensure a sustainable regulatory system for organising games of chance via the internet or other telecommunication means, as well as to generate additional revenue from these activities.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Harrisons, Maric & Co, Lambadarios, and Wolf Theiss, working with Linklaters, have advised a banking consortium led by UniCredit Bank London on the United Group's EUR 1.7 billion issuance of four tranches of senior secured and PIK notes as well as on the increase and extension of its EUR 410 million revolving credit facility. Selih & Partnerji, working with Paul Weiss, advised the United Group. Schoenherr, Koutalidis, De Brauw Blackstone Westbroek, and Elvinger Hoss Prussen reportedly advised the United Group as well.

Did you know that, using the Activity Rankings function of the CEELMDirect website, you can look up the 2023 deal leaderboards in each CEE market, including Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, and Slovenia?

On 28 December 2023, the Agency for the Protection of Competition of Montenegro (the “Agency”) adopted a decision regarding its finding that the pricelist adopted by the Association of Tourist Agencies of Montenegro (the “Association”) concerning services provided by the tourist agencies amounts to a restrictive agreement by object under the Montenegrin Competition Law.

Drakopoulos has become a part of the South East Legal Alliance, thus expanding the network’s reach to Athens, Bucharest, and Nicosia.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Excellent economic independence, monetary stability, and a steady tax structure in Montenegro, together with the Government’s customs and fiscal incentive measures, are attracting many foreign investors.

Schoenherr has advised the Montenegro Chamber of Commerce on its eKomora digitalization project, including the execution of the partnership agreement – following a successful public procurement tender – with a consortium comprising Axians Crna Gora, Crnogorski Telekom, Montex Elektronika, Cikom, and WinSoft.

The new year started early for Montenegro, or at least it feels that way according to PLK Advokati Founding Partner Stefan Lucic, who points to significant recent policy shifts aligning Montenegro more closely with the EU and NATO and to the ambitious economic reforms spearheaded by the country's newly elected prime minister.

n November 2023 the Government of Montenegro proposed amendments to the CIT Law (Proposal).

Radovanovic Stojanovic & Partners has advised Polish Tuplex Group member TI Holding on the acquisition of all shares in Montenego's Materia. Komnenic & Partners represented a private stakeholder in the sale of Materia.

JPM & Partners has recently embarked on a transformative journey of both rebranding its operations and integrating with the law offices of Lana Vukmirovic Misic in Montenegro – a “long-time JPM friend and partner.” JPM & Partners Senior Partners Nenad Popovic and Lana Vukmirovic Misic discuss the firm's recent rebranding, strategic expansion, and the motivations behind these as well as what comes next for the firm.

The world has seen a significant shift towards sustainable energy sources in recent years. One of the most promising and rapidly growing sectors in the renewable energy industry is offshore wind parks. These structures that use the power of wind over the open seas are quickly gaining popularity as part of the global effort to combat climate change. This article will explore the global trend of offshore wind parks and shed light on Montenegro's potential in this eco-friendly energy source with a special focus on fixed-bottom wind parks.

BDK Advokati has advised sustainable infrastructure fund Alcazar Energy on its acquisition of the 118-megawatt Bijela wind farm project in Montenegro. Karanovic & Partners advised project developers Simes Inzenjering and Sistem MNE on the sale.