Contributions of the company

According to the provisions of the Companies Act contributions to the company may be pecuniary or in kind, and are expressed in dinars.

If a pecuniary contribution is paid in a foreign currency in accordance with the law governing foreign currency operations, the dinar counter value of the contribution is calculated using the National Bank of Serbia middle exchange rate on the day of contribution payment.

In kind contributions may be given in tangibles or intangibles, unless otherwise specified by the Companies Act for certain types of companies.

The company’s share (registered) capital is the pecuniary value of the company’s members’ subscribed contributions to the company, which is registered in accordance with the registration act. Continue reading Contributions of the company

Exit of limited liability company member

Exit of limited liability company member (hereinafter referred to as: exit of company member) is one of the reasons for termination of company member status. Procedure of exit of company member shall be governed by the provisions of Articles from 187 to 193 of the Law on Business Companies.

Reasons for termination of company member status are:

  • Death, in case of a natural person, or deletion from a relevant register, in case of a legal entity
  • Exit from a company
  • Expulsion from a company
  • Transfer of entire equity interest
  • Withdrawal and cancellation of entire equity interest.

Exit of Company Member without Claiming Compensation for Equity Interest

A comapany member, which hasn’t outstanding liabilities towards the company on the basis of outstanding contributions, may at any time, on the basis of the statement on exit which sall be submitted to the company, to exit from the compnay without giving any reasons for the exit, if he/she does not demand compensation for its equity interest. Continue reading Exit of limited liability company member

Registering a branch office of a foreign company in Serbia

A foreign company branch office is a separate organizational unit of a company through which the company performs activity in Republic of Serbia in accordance with the law.

A foreign company branch office does not have the capacity of a legal person, but in terms of tax have resident status.

Legal framework

Relevant regulations, whose subject is registering a branch office of a foreign company, are:

  • Companies Act (RS Official Gazette, No. 36/2011, 99/2011, 83/2014 and 5/2015)
  • Law on the Procedure of Registration with the Serbian Business Registers Agency (RS Official Gazette, No. 99/11 and 83/2014)
  • Rulebook on the Content of the Business Entities Register and Documents Required for Registration (RS Official Gazette, No. 42/2016) and
  • Decision on Fees for Registration and other Services Provided by the Serbian Business Registers Agency (RS Official Gazette, No. 119/2013, 138/2014, 45/2015, 106/2015, 32/2016 i 60/2016) Continue reading Registering a branch office of a foreign company in Serbia