The application process for incorporating a company will be changing to an exclusively electronic format from 17 May 2023, in accordance with the latest amendments to the Law on the Registration Procedure at the Agency for Business Registers. There are a number of key issues arising from this change that we seek to clarify below:

Who can submit an e-application to register a company in the Register of Business Entities?

The e-application can be submitted by a natural person (founder – future shareholder of the company) or by a person who is authorised by the founder (for example, a lawyer) to submit the e-application to the Serbian Business Register Agency (“SBRA“). If the applicant is a founder, he would sign the e-application with his qualified e-signature. If the applicant is a lawyer, he would sign the e-application with his own qualified e-signature, and the attachment would need to include a power of attorney in the form of an electronic document (signed by the founder of the company with his e-signature or signed with the founder’s handwritten signature and then digitised by a lawyer/notary).

Does the document submitted with the electronic application need to be in electronic form?

In relation to the e-registration procedure, all submitted documents must be in electronic form. It is essential to understand the difference between documents that the founder (or his representative) himself originally draws up in electronic form (such as the shareholder agreement) and signs with his qualified electronic signature, from documents issued by third parties or by the authorities, which must be authenticated with the qualified e-signature of an authorised person within the organisation that issued the document.

If the founder registers a company and does not have any of the documents he is required to submit in electronic form, he […]

While the labour market is subject to constant change and evolution, the past four years (since the start of the COVID-19 pandemic) have seen a considerable shift in the way that work is undertaken and managed. However, the existing regulatory framework has not kept pace with these rapid developments. In fact, the Law concerning the protection of health and safety at work in the Republic of Serbia has not changed substantially for the past 17 years. However, an entirely new Law covering this area came into force on 7 May 2023, which introduces some notable developments. In particular:

First, the new Law defines the term “workplace” with much greater precision, in contrast to the former definition which envisioned the place of work as an employer’s premises. This obviously raises questions relating to risk assessments for employees. The new definition will define the “workplace” as the location where an employee performs their role under the terms and conditions of their employment.

Secondly, the Law goes on to stipulate that an employer is obliged to confirm that standards of workplace health and safety are ensured for all employees working remotely/from their homes. An employer can document remote work risk assessments in writing (though they are not obliged to) with the cooperation of their employees. This will apply not only to employers but also to self-employed entrepreneurs.

Thirdly, the Law will also introduce a new (digital) reporting mechanism, through which employers can report injuries at work and occupational diseases. This information will be stored on a new unified electronic database streamlining the reporting process for employers.

Finally, the Law will also introduce a number of timely changes relating to the protection of personal data, including personal data related to employees’ medical examinations, as well as setting out the scope […]

Legal 500 Europe, Middle East and Africa 2023 edition has announced the results of the comprehensive research of the legal market, and we are thrilled to announce that Stankovic & Partners has been ranked in all the categories.

Our dispute resolution section has been ranked in Tier 2, due to “a range of excellent expertise that covers all levels” and for making “clients confident of its ability to handle highly complex and sizeable matters – delivering a gold-standard service“. Once again, our Senior Partner Nenad Stankovic is a leading individual in this field of law, and the work of Counsel Sara Pendjer in dispute resolution matters has been recognized and she has been named a rising star.

The firm’s commitment to the high-level service has also been confirmed by Tier 3 rankings of our teams in the areas of Banking and Finance, Commercial Corporate and M&A, Competition, Employment, Intellectual Property, Projects & Energy and Real Estate & Construction. Our Associate Tijana Milisic has been named a rising star in the area of Commercial, Corporate and M&A.

We are delighted to announce that Stankovic & Partners has once again been ranked in the most recent Chambers Europe Guide. These Europe-wide rankings of leading law firms were published by Chambers and Partners on 16 March 2023, recognising elite firms and individuals in a number of practice areas internationally.

The NSTLAW team has been recognised as a leading firm in both Banking & Finance and Dispute Resolution. In particular Senior Partner Nenad Stankovic has seen his rankings increase to band 2 for Corporate/Commercial: Real Estate and Dispute Resolution, as well as appearing in band 3 in Employment in recognition of his prominent reputation in Serbia and internationally. The work of Counsel Sara Pendjer has also been recognised in Dispute Resolution and she is ranked in band 3 in this field.

The rankings are awarded based on the client feedback that Chambers and Partners receives, as well as on teams’ wider market profile. We are, therefore, particularly proud that our clients commented to the researchers that they “admire their commercial awareness and their ability to constantly develop their understanding of business”, and are “always pleased with the excellent levels of service and responsiveness of the team at Stankovic & Partners.” Excellence in client service is something that Stankovic & Partners prioritises, so it is a great pleasure to receive such positive recognition from our clients and peers.

OECD’s Competition Open Day 2023  and two recent OECD workshops (Competition in Digital Markets: Recent Enforcement and New Regulations and Workshop on Procedural Safeguards in Competition Cases), as well as the latest roundtable session organised by the Joan Monnet South European Competition Law Center of Excellence at the Chamber of Commerce and Industry of Serbia (“Recent Developments in Competition Law and Policy in EU and CEE Countries: Open Issues and Challenges”) gave considerable food for thought on a range of key topics of interest and, on a practical note, confirmed some familiar views on the direction that competition law and policies are currently taking.

Discussions on enforcement in competition law and policy are an important trend and were the subject of discussion at the first panel session at OECD’s Competition Open Day 2023. In particular, enforcement is key in the context of competition law’s effectiveness in practice, not only through coercive (monetary and behavioural) measures taken by the authorities, but also in the context of broader awareness raising and compliance.

It’s clear that competition authorities around the globe have taken this struggle, not just “once”, but many times “more unto the breach”, taking an assertive approach to the fast-growing digital sector. These efforts have led to a flurry of investigations into tech companies (especially in the area of third-party data cases), as well as the ongoing development of competition-related technology to level the playing field. As stated during the OECD’s Competition Open Day 2023 discussion “Developments in Competition Enforcement – Enforcement Trends”, the Australian Competition and Consumer Commission (ACCC) is investing in the development of its own software and analytical tools, cartel screening technology and algorithms for market screening, with an emphasis on public procurement. It is working with an […]

NYSE-listed technology giant PAR (including PAR Technology Corporation, ParTech Inc, Punchh Inc, AccSys LLC, PAR Payment Services LLC) has chosen leading commercial law firm Stankovic and Partners as its official representative in the Republic of Serbia in accordance with the law on Personal Data Protection.

Under this law, foreign companies providing goods and services in Serbia now need to designate a personal data protection representative in the country. Failure to do so could result in significant penalties for the company concerned, as well as for the responsible person within that company. This appointed representative may then handle all queries from the Commissioner for Information of Public Importance and Personal Data Protection and others on matters arising in relation to the company’s processing of personal data in order to ensure full regulatory compliance. We are delighted that Stankovic and Partners has been selected by leading international business PAR as its trusted representative in Serbia to perform this important role.

The Commissioner, when announcing this important appointment, reiterated its appeal to other foreign companies to designate a representative in the Republic of Serbia in order to fulfill their legal obligations and demonstrate their respect for the privacy of their customers and other stakeholders.

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We are delighted to announce that, from 1 January 2023, Stankovic & Partners has promoted a number of talented attorneys, including Sara Pendjer, who becomes Counsel, and Mitar Simonovic, who becomes a Senior Associate. Both Tijana Milisic and Maja Mladenovic are now Associates.

This substantial round of promotions not only recognises the significant contribution that these individuals have made to the team over recent years, but also reflects the firm’s increasing workload of prestigious instructions from our high profile Serbian and international client base.

Making the announcement, founding partner Nenad Stankovic explained: “We would like to congratulate Sara Pendjer, Mitar Simonovic, Tijana Milisic and Maja Mladenovic on their well-deserved promotions, and hope that they will continue to provide the high levels of client service that Stankovic & Partners is known for, as well as further enhancing the range of commercial expertise that we offer. It is extremely important to us to support career development and provide opportunities for talented individuals to shine.”

Sara Pendjer joined Stankovic & Partners soon after its establishment in 2011 and is now one of our star attorneys, managing numerous key dispute resolution and commercial assignments. Career highlights include playing an important role in the restructuring of national power company Elektroprivreda Srbije, as well as in the reorganisation of RTB Bor (copper mine). She is also known for her heavyweight expertise in investor-state arbitrations. Commenting on her promotion to Counsel Sara said: “I am delighted to be recognised in this way and look forward to many more years helping the firm’s clients respond to major challenges and achieve success.”

Senior Associate Mitar Simonovic is also a longstanding attorney at the firm, having been with us since the start of his legal career. His broad experience encompasses dispute resolution, restructuring/insolvency, employment and immigration, […]

We are excited to announce that, from 1 January 2023, Stankovic & Partners has promoted Andjelka Radovanović to partner.

Andjelka joined the firm in 2021 and her stellar work and reputation has now been recognised with this partner promotion. A highly experienced attorney who formerly ran her own practice, Andjelka’s impressive legal career began in 2007. She now leads Stankovic & Partner’s corporate and commercial team, leading on a wide range of domestic and cross-border M&A and other transactional matters, substantial international investments, restructurings and financings, as well as governance and corporate compliance. Another key area of expertise is employment law, where she advises on major redundancy programmes, incentives schemes and many other key issues. Her sector specific experience ranges across everything from banking and finance, the green economy and energy, to pharmaceuticals, technology and real estate.

Andjelka is a longstanding member of the Worldwide Independent Lawyers League (WILL) and EuroJuris International, both high profile networks of experienced senior lawyers across the globe, giving her a wealth of international contacts.

Founding partner Nenad Stankovic commented: “We are delighted to recognise Andjelka with this well-deserved promotion, and value her important contribution to our leading corporate and commercial practice. Her international links also further enhance Stankovic & Partners’ global outlook as evidenced by our membership of a number of prestigious international law firm networks.”

Andjelka Radovanović added: “It is fantastic to be part of a team of very active, enthusiastic people who share the same business-focused approach and high standards of client service that I have always adopted myself. Clients are facing a time of unprecedented challenges and more than ever require advice from firms who can develop creative solutions and understand their commercial drivers.”

The three-year compliance period for legal entities to comply with provisions of the Law on Accounting (“Official Gazette of RS”, No. 73 /2019 and 44/2021 – other laws) (“the Law”), comes to an end.

That means legal entities whose main registered activity is the provision of accounting services (“the Accounting Service Providers”) must register in the Register of Accounting Service Providers (“Register”), and the obligation for all legal entities that engage an entity with bookkeeping and preparation of financial statements, to engage only a registered entity in the aforementioned Register.

From 2023, accounting services will only be provided by legal entities registered in the Register. For registration, one must have a Chambers of Authorized Auditors license, which can be issued to an entity whose main registered activity is the provision of accounting services and whose founder, i.e. the beneficial owner and the management body, has not been convicted of a criminal offense in the sense of the law regulating the liability of legal entities for criminal offenses, that is, if it is a natural person, has not been convicted of criminal offenses prescribed by the Law on Accounting.

In addition to the above, in order to obtain a license, the Accounting Services Provider must have at least one full-time employee with a professional title in the field of accounting or auditing from a professional organization that is a member of the International Federation of Accountants.

The Ministry of Finance has issued several opinions, including the prohibition for a natural person who meets the condition in terms of an acquired professional title in the field of accounting or auditing to be listed in the Register in two places at the same time, i.e. within the data on the sole proprietor and legal entity, that it is not […]