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The 2016 has seen the establishment of a new and more robust mechanism for incentivizing filmmakers to use Serbia as the location of choice in the region. Besides the Government Regulation from 2015, new guidelines have been adopted and the annual public call for applications for year 2016 has been published (http://bit.ly/20pLU8x – only Serbian version available).

Serbia boasts significant mineral resources including lignite, copper, lead, zinc and industrial minerals. Geographical location and diversity of Serbia’s mineral resources are without doubt conducive factors to future investments in the mining sector.

OWith more than 6-months of delay, the Government of the Republic of Serbia finally adopted the following package of decrees setting out the new incentive scheme for green energy:

The new Enforcement and Security Act (hereinafter: the “Act”) entered into force on the 1 July 2016, except for certain provisions which came into force on 29 November 2015. The long expected innovation of enforcement and security procedures in Serbia brings significant changes. Among others, these are related to the scope of authorities of enforcement agents.

The new Law on General Administrative Procedure ("Official Gazette of RS" No. 18/2016), enacted on February 29, 2016, entered into force on March 9, 2016 ("the Law"). The Law will be applied from July 1, 2017, except for certain provision that will start being applied 90 days after the Law enters into force, i.e. from June 7, 2016.

One of the liveliest parts of the recently held panel discussion organised by the Association for Sustainable Development and the Youth Forum of the European Movement, was revolving around Serbia's obligation to reach 27% of its total consumption of energy to be coming from renewable energy sources (RES) by year 2020.

Stankovic & Partners (NSTLaw) has announced that the Commercial Court in Zajecar has adopted the pre-packaged reorganization plan for the four companies of the RTB Bor Group’s copper mining and smelting complex in Serbia. NSTLaw describes the restructuring, worth EUR 1.2 billion, represents the largest financial restructuring in bankruptcy ever in Serbia.

KPMG Serbia and its associated law firm, Marjanovic Law, acted as lead transaction counsel to the Government of Republic of Serbia during the two-year privatization procedure of Zelezara Smederevo. The Asset Purchase Agreement was signed on April 18 and the transaction closed on June 30, 2016.

Zivkovic Samardzic has announced that it has supported South Central Ventures (SCV) with a EUR 700,000 investment in City Expert, a Belgrade-based startup that, according to the firm, “has gained traction rapidly with its innovations and use of technologies in real estate sale and rental sector."

The new Law on Consensual Financial Restructuring ("Official Gazette of RS“ No. 89/2015) which came into effect on November 4, 2015, began to be applied on February 3, 2016.

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Karanović & Nikolić is a leading international legal practice in South East Europe that offers unrivalled regional and sector specific coverage to investors. As a market leading practice, our dedication, quality legal service, and in-depth understanding of the needs of our clients stands out as a differentiating factor. With over 100 advisors across the region, our original values remain an integral part of our philosophy and approach to client work. Karanović & Nikolić has been involved in many of the largest and most complex transactions in the region and we take pride in our reputation as a regional transactional and corporate/commercial legal powerhouse.

Because we have an active business presence in Bosnia & Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Slovenia, we operate seamlessly across all of these jurisdictions, providing regional services to our clients, while taking into consideration local particularities in order to provide the best legal advice under competitive terms. Renowned for the quality of our lawyers and our commercial approach to solving problems, Karanović & Nikolić advises many of the leading companies, banks, investors and government institutions doing business in the SEE region.

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