CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
CMS’s Belgrade office has advised Banca Intesa Belgrade on financing provided to Delta Real Estate for the development of the Delta Planet Nis shopping mall in Nis, Serbia.
On 26 November 2020 the Minister of the Interior and the Minister of Labor, Employment, Veterans and Social Affairs adopted the Rulebook on the unified request for approval, i.e. extension of temporary residence and issuance of a work permit to a foreigner (“Rulebook”), all in accordance with amendments to the Act on Foreigners from 2019 (“Act”).
The new Law on Games of Chance, applied from April 2020 did not introduce material changes to gambling business itself, apart from increased financial burden to operators (higher minimum initial capital, fees, deposits and new technical requirements) and in general the novelties have not been numerous, but it also stipulated the obligation of adoption of new harmonized rulebooks.
NKO Partners has advised CTP Invest on its acquisition of a part of Eyemaxx Real Estate’s portfolio in Serbia.
Over the course of our seven years, CEE Legal Matters has interviewed most of the British lawyers working on the ground in Central and Eastern Europe as part of our recurring “Expat on the Market” feature. We reached out to them recently and asked them to bring us up to speed on what they’re doing and/or share their thoughts on the ramifications of Brexit or the ongoing COVID-19 crisis.
CMS has advised the UK's Poseidon Group and Belgium’s Mitiska Reim on the divestment of their entire portfolio of retail parks in Serbia to Austria’s Immofinanz AG. Tomic Sindjelic Groza reportedly advised Immofinanz on the deal.
MPartners Legal has set up a Chinese and Asian markets desk.
Samardzic, Oreski, Grbovic has been appointed as AiCure’s data protection representative in Serbia by the Commissioner for Information of Public Importance and Personal Data Protection.
NKO Partners has advised the BizLink Group on its EUR 3.5 million acquisition of a commercial property and production facilities in Prokuplje, Serbia, from Gama Investor Solutions. Attorney-at-law Aleksandar Kuljak reportedly advised the seller on the deal.
On November 11, 2020, CEE Legal Matters reported that Karanovic & Partners had helped set-up Ventu.rs, the first Serbian crowd-investing platform. CEEIHM spoke with Luka Pejovic, Director at Ventu.rs, to learn more about the matter.
Jankovic Popovic Mitic has advised BASF on the sale of its Construction Chemicals business in Serbia to an affiliate of private equity firm Lone Star.
BDK Advokati has advised Affidea Diagnostic B.V. on the sale of Affideal Special Hospital in Belgrade to Medigroup System.
On 06 November 2020 on the website of the National Assembly of the Republic of Serbia is published Proposal for the amendments of the Law on tax procedure and tax administration (hereinafter referred to as: “Proposal”).
Application of the new Law on Accounting (Official Gazette of RS no. 73/2019) has started on 1 January 2020, with exception of certain provisions whose application was further delayed. This was the case with Article 9, para. 3 of this law, which will start to apply from 1 January 2022.
“This was an election year for Serbia, and as a result we had a technical government for a very long time,” says Djordje Novcic, Partner at Jankovic Popovic Mitic in Belgrade, referring to the four-month-long period of deliberation before the new government was finally formed on October 28.
Zivkovic Samardzic has been appointed the representative for Yandex LLC pursuant to the Serbian Data Protection Act, following a decision by the Commissioner for Information of Public Importance and Personal Data Protection of Serbia.
Taxes are undoubtedly among the most important components of every state budget. Tax systems vary, of course, as different states have different political and commercial environments. Nowadays, the globalization of economic relations tends to bring these diverse and different systems closer together.
On March 5, 2020, CEE Legal Matters reported that Kinstellar had advised Nova Ljubljanska Banka d.d. on the conclusion of a share purchase agreement with the Republic of Serbia for the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka a.d. Beograd. Serbia’s AP Legal and Prica & Partners advised the Government of the Republic of Serbia on the privatization.
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