Latest news
MIM Law is proud to announce promotion of Jelena Papic and Bojan Jankovic to senior associates
read more...Nemanja Ilić is recognized as the leading lawyer for dispute resolution practise Serbia by client choise awards
read more...MIM Law represented Beppler & Jacobson Montenegro in a 16 million EUR court victory – Article in CEELM
read more...Tanja Unguran has contributed in preparation of International Comparative Legal Guide on Corporate Income Tax for 2018
read more...Law on Enforcement and Security to enter into force on 1 July – today is the last day to notify the courts
read more...Studija slučaja advokatske kancelarije MIM / Mihaj, Ilić & Milanović – predavanje na Pravnom fakultetu u Beogradu
read more...The forthcoming deadline for Serbian entities to register their Beneficial Owners

On 8 June 2018 Serbia enacted the Law on Central Register of Beneficial Owners (the “Law”), whereby it introduced into its legislation the Central register of beneficial owners (the “Central Register”). The Law imposed the obligation on the Serbian Business Registers Agency (hereinafter: “SBRA”) to no later than 31 December 2018 set up the Central Register as the public, unique, central, electronic database containing the data on beneficial owners of the entities incorporated in Serbia. Thus, in case that Serbian entities, that fall under the scope of Registered Subjects in sense of the Law, were incorporated before 31 December 2018, their authorized persons are obliged to register with SBRA the relevant data on their Beneficial Owners by no later than 31 January 2019. As for the recently incorporated entities, they are obliged to register relevant data within 15 days following their incorporation.
Following the enactment of the Law, Ministry of Economy enacted the Guidelines for Registering Beneficial Owners of the Registered Subjects into the Central Register, in order to provide SBRA the instructions on how to apply the subject Law (“SBRA Guidelines”). SBRA Guidelines thus contain certain explanations of the standards and criteria stipulated under the Law, whereby the most significant one refers to clarifications on the manner in which the Beneficial Owners should be determined – the Beneficial Owners of Registered Subjects are not supposed to cumulatively fulfill all the criteria in order for them to be considered as Beneficial Owners, but rather, they are to be registered within the Central Register through the fulfillment of only one of the criteria prescribed by the Law.
Registration of Beneficial Owners into the Central Register can be conducted via the website of SBRA – the representative of the Registered Subject will need to enter into the System for centralized user login (available on SBRA website) the data concerning the Beneficial Owner, as well as the basis due to which the person designated as Beneficial Owner obtained that status. Nevertheless, the documents that would serve as evidence to the data concerning the Beneficial Owner status are not to be submitted thereby, but only kept by the Registered Subjects in the next 10 years, following their registration.