With yet another election cycle impacting legislative activity in Serbia, few – but noteworthy – updates warrant attention, according to PR Legal Managing Partner Ivana Ruzicic. Notably, land conversion fees have been eliminated, potentially unlocking vast construction opportunities, while the excise tax framework is being modernized, with a centralized electronic system set to streamline processes.
The adoption of the Law on the Use of Renewable Energy Sources in 2021 created a very favorable environment for investments in green energy. Recognizing the opportunities and incentives, investors in a short period of time submitted a large number of requests to Elektromreža Srbije as a transmission system operator ("TSO") for the connection of future power plants using renewable energy sources. More precisely, requests for the connection of 22,000 MW have been submitted so far, while the total capacity of the power plants connected to the system is about 8,500 MW.
BDK Advokati has advised Waberer’s International on its acquisition of a 55% stake in the MD International distribution company in Serbia, with an option for the remaining 45%. JPM & Partners advised MDI shareholder Dragoslav Micic. Marjanovic Law reportedly advised the other sellers.
BDK Advokati has advised the Amiga DOO shareholders on the full sale of the company to Beam Global. MMD Advokati advised Beam Global.
Former Zivkovic Samardzic Partner Igor Zivkovski has joined Schoenherr’s Serbian affiliate Moravcevic, Vojnovic i Partneri as a Local Partner.
Everyone is free to choose their work, time, or place of engagement and the profession they will commit to. The Serbian Constitution grants these basic human rights while also envisaging that all jobs are available to everyone under equal conditions. A similar principle is founded under the Law on Protection of Competition - that the protection of competition on the market of RS is regulated with the aim of economic progress and the well-being of society as a whole, especially to the consumer’s benefit. However, these are only the general principles that are subject to numerous constraints with the purpose of either protecting basic human rights, preventing unfair competition, or harboring the whole economic system with the consumers and companies as its vital participants.
Recently, the Serbian Parliament enacted amendments to the Act on Electronic Communications (Act). The Act was drafted through a collaborative effort of representatives from a broad range of organizations, including the Regulatory Agency for Electronic Communications and Postal Services (RATEL), the Regulatory Agency for Electronic Media (REM), the National Alliance for Local Economic Development (NALED), the Foreign Investors Council, the National Convention on the European Union, supplemented by expert opinions from the business sector.
Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised the shareholders of Maxbet on the sale of a 51% stake in the company to Flutter Entertainment for a cash consideration of EUR 141 million. Karanovic & Partners, working with Arthur Cox, advised Flutter Entertainment.
Gecic Law, working with Deloitte Legal and RPHS Law, has advised MTS on a dispute with Pristina authorities stemming from the decision to revoke MTS’s operating license in Kosovo.
Trade secrets are an invaluable asset for many businesses, often encompassing years of research, innovation, and strategic development. Protecting them is paramount, and the legal landscape surrounding this protection is ever-evolving. The European Union Intellectual Property Office (EUIPO) recently published the report “Trade Secrets Litigation Trends in the EU” (June 2023), which provides fresh insights into the state of trade secrets litigation within the European Union.
September 2023 – According to Article 5 of the Serbian Banking Act (Zakon o bankama), no person other than a bank licensed in Serbia may engage in the granting of loans unless authorised by law. One Serbian law that does allow foreign banks (i.e., banks not established and licensed in Serbia) to provide cross-border loans to Serbian entities is the Serbian Foreign Exchange Act (Zakon o deviznom poslovanju). In particular, Article 18(7) of the Foreign Exchange Act expressly allows Serbian entities to borrow cross-border from foreign banks, which are not required to obtain a banking licence in Serbia for this purpose.
The German Supply Chain Due Diligence Act is a major advancement in the supply chain network, improving international human rights and environmental standards across the board. It focuses on issues of child labour, health and safety standards, and the role of trade unions, and will have substantial effects on all relevant parties concerned due to its scope and importance. For instance, the Act bans all sorts of conduct from discrimination to forced labour. Serbia in particular will be considerably impacted, since Germany is the country's largest trade partner.
Corporate reputation is an organisation's most valuable intangible resource and may be defined as the public perception of the company and how it operates. It has its monetary expression and influences financial and social capital as well as market share. It can be positive and negative. Reputation is an essential aspect of any business. In today's digital age, a company's reputation can be easily tarnished through websites, social media, online reviews and news articles.