A new Classification of Activities 2025 (“CA 2025”) will apply in Serbia as of 1 January 2027. Businesses will not need to submit any application or pay any fee for the alignment of their registered business activity. The Serbian Business Registers Agency (“SBRA”) will update the registered activity codes and descriptions ex officio. However, we […]

As of 1 October 2026, the first annual deadlines will begin to fall due for the review of beneficial ownership information recorded in the Central Records of Beneficial Owners maintained by the Serbian Business Registers Agency (“SBRA”). Under the Law on the Central Records of Beneficial Owners, registered entities are required to review the accuracy […]

The new Law on Business Organisations of Montenegro (the “ZPD”) has brought about an important change concerning the point at which the appointment and removal of a director take legal effect. Unlike the previous law, which left room for interpretation as to when a director’s removal took effect, there was a longstanding practice of treating […]

In the case of a multi-member limited liability company, an agreement between the members is almost invariably concluded, regulating their mutual relations, the management of the company, exit from the company, and other important matters. Very often, such agreements also contain a non-compete provision, under which the members undertake that, for as long as they […]

In practice, the procedure for increasing the share capital of an LLC most often comes down to adopting a single resolution of the shareholders’ meeting, which is then submitted to the APR for registration. This approach is partly encouraged by the practice of the APR itself, bearing in mind that the APR website, in the […]

For many years, an established practice has been that an agreement with the director, when the company has only one director, is signed by the sole member of the company, i.e. by a person authorized by the shareholders’ meeting when there are multiple members. This practice has, to a certain extent, been “codified” through the […]

When increasing the share capital of a limited liability company by means of a new contribution, following the adoption of the resolution of the company’s shareholders’ meeting on the increase of capital, an agreement on accession is concluded between the company and the entity or person acceding to the company. Article 175, paragraph 3 of […]