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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.

Women’s Day is behind us, but the subjects of gender equality and equal opportunity are of year-round concern. This, the first part of a special two-part CEE Legal Matters article on women in private practice in CEE, provides the numbers and percentages from leading law firms across CEE, as well as a more thorough snapshot of one representative market. Part II of the report, in the June issue, will pull back the curtain even more, providing feedback and perspectives from lawyers across the region.

On 29 December, 2015, the Serbian National Assembly enacted the Law on the Chamber of Commerce (Official Gazette of RS No. 112/2015). This Law will enter into force on the eighth day after publication in the Official Gazette of the Republic of Serbia, except for Articles 10 and 33 of this Law which will be applied as from 1 January, 2017.

The new Decree on the Content and Manner of Submission of Merger Notifications (“Decree”) which entered into force on 2 February 2016, has introduced the possibility of submitting a short-form merger notification, simplifying the procedure before the Commission for Protection of Competition, being the competent authority for protection of competition in the Republic of Serbia.

JPM has advised Delta Real Estate on the sale of its ownership quota in companies that own and operate the Delta City Shopping Malls in Belgrade and Podgorica — and has advised Hemslade Trading Limited on the sale of its ownership in the company that owns and operates the shopping mall in Podgorica as well — to Hyprop Investments Ltd (South Africa) and Homestead Group Holdings Ltd. Harrisons advised the buyers on the deals, which amounted to EUR 202.75 million.

In December 2015 the National Assembly of the Republic of Serbia adopted amendments to the Law on Agricultural Land. These amendments are aimed at improving the investment climate for investors closely cooperating with the governing Serbian authorities.

One of the characteristics of the Serbian tax system is that it deals very little with the issue of tax treatment of payments resulting from family relationships. Except for the rule specifying that transfer of property directly related to divorce does not count as capital gain, and for tax exemption in the case of gifts between persons first in line to inherit, no other issues that could arise from family relationships are regulated at all.

Amendments to the Law on Corporate Income Tax were adopted at the end of 2015, introducing an important new element relating to taxation of non-residents in Serbia.

Serbia Knowledge Partner

Who we are

Karanovic & Partners is a regional legal practice in Southeast Europe with tradition spanning two decades and cooperating offices in Serbia, Croatia, Slovenia, Montenegro, Macedonia and Bosnia & Herzegovina. With more than 100 attorneys at law cooperating across the region, we take pride in our work, dedication and understanding of our clients' industries and needs.

What we do

We work with some of the most respected and reputable businesses in the world, banks, as well as governments, state-owned entities, startups and NGOs. We see our clients as long-term partners.

We focus on straightforward solutions and tailor-made advice. Lawyers cooperating with us are fully immersed in our clients’ culture and industry to ensure that the work is delivered intelligently and reliably.

What sets us apart?

In our company culture, excellence is a must. We are reliable, adaptive and fast.

Karanovic & Partners operates under the “one team” principle, combining our regional reach and local know-how to deliver coordinated legal advice necessary for achieving our clients’ goals.

All News about, and Legal Analysis by, Karanovic & Partners can be found here.

Firm's website: https://www.karanovicpartners.com/

 

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