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Novelties in the Business Registers Agency

Novelties in the Business Registers Agency

Serbia
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From January 1, 2021, the Business Registers Agency (“BRA“) starts to provide new services and keep a new register.

Issuance of excerpts and certificates from the Central Records of Ultimate Beneficial Owners

In accordance with Article 8 of the Law on Central Records of Ultimate Beneficial Owners, the BRA started to issue:

  • Excerpts with data on ultimate beneficial owners of registered entities
  • Certificates from Central Records with historical data on ultimate beneficial owners of registered entities (certificate for registered entity),
  • Certificate that a natural person is/was registered as ultimate beneficial owner of a registered entity (certificate for natural person).

Request for excerpt or certificate can be submitted electronically, through the system for centralised applications of BRA users or in writing on special form available on BRA website.

Alike the excerpts from the Company Register, the excerpt with data on ultimate beneficial owners is obtained immediately if the application was submitted directly in BRA premises or its organisational units.

Transfer to entirely digital operation of the Financial Leasing Register

In addition to application for registering financial leasing agreements, all other types of registration applications can now be submitted electronically to the Financial Leasing Register.

Alike other electronic services provided by BRA, electronic registration in the Financial Leasing Register is done in the system for centralised application of BRA users. As announced by the APR, a service for takeover of data and documents has been created, including a service for the Ministry of Interior, which will enable electronic submission of authorisations for registration of vehicles purchased through financial leasing.

Register of Accounting Services Providers

In accordance with the Law on Accounting, the Register of Accounting Services Providers has been established as from January 1, 2021 as a single, central, electronic database on legal entities and entrepreneurs whose registered prevailing activity is provision of accounting services and who possess permit for provision of such services issued by the Chamber of Authorised Auditors.

Such register did not exist before, hence the providers of accounting services will have to meet special requirements in the future i.e. to possess permit for provision of accounting services issued by the Chamber of Authorised Auditors and to be entered into this register.

All entities that provide accounting services will be obliged to adjust their operation with the provisions of the law by January 1, 2023. Namely, they will have to obtain permit from the Chamber by the said date and to be entered into the Register of Accounting Services Providers.

This article is to be considered as exclusively informative, with no intention to provide legal advice.
If you should need additional information, please contact us directly.

By Sara Necic, Senior Associate, PR Legal

Serbia Knowledge Partner

The oldest full service commercial law firm in Serbia, founded in 1991, JPM with three decades of experience in assisting local and international businesses presence and growth not only in Serbia but throughout the SEE region.

We have accumulated a wealth of knowledge in every industrial and corporate sector, from energy to banking, transport, manufacturing and telecommunications, while remaining true to a pioneering spirit that has always drawn us to follow the latest trends and developments in providing of our services to clients. Today we use the latest legal tech available in serving our clients and are expanding our services to clients from growing industries such as renewable energy, IT and life sciences, by offering innovative solutions and a pro-active approach to broaching new grounds.

Our expertise, experience, and commitment to professional excellence mean we are routinely involved in landmark cases and transactions, while our high standing among clients and peers sees us ranked among the leading law firms by independent guides such as Chambers & Partners, Legal 500, and IFLR1000.

We are known for working closely with clients and treating their problems as our own. Our lawyers pride themselves on being team players, fast and available, specialised in terms of practice area and industry, but versatile and creative in their thinking. We believe our advice should be tailor-made and that even the thorniest issue has a legal solution.

Our membership of Lex Mundi (the world’s premiere network of independent law firms) and the TLA (a regional alliance of leading firms from Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia) means we have close working relationships with first-rate firms throughout the region and around the world, enabling us to operate as the perfect hub for SEE and other multi-jurisdictional transactions.

Firm's website: http://jpm.rs/

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