Attorney Dragana Djordjevic » Dragana Đorđević

Requirements for Conducting Factoring

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Law on Factoring (“Official Herald of the Republic of Serbia”, Nos. 62/2013 and 30/2018) regulates the concept and subject of factoring, factoring participants, conditions and manner of factoring, types of factoring, rights and obligations of factoring participants, factoring contract, reverse factoring, and supervision of factoring. According to provisions of the Law on Factoring (“Official Herald of the Republic of Serbia”, Nos. 62/2013 and 30/2018), factoring shall be a financial service of buying and selling of existing non-matured or future short-term monetary receivable, that arose from a contract of sale of goods or provision of services at home and abroad.

Requirements for Conducting Factoring

A company incorporated in the Republic of Serbia to conduct factoring may undertake tasks of buying and selling existing non-matured or future short-term monetary receivables that arose from a contract of sale of goods or provision of services at home and abroad if it meets the requirements of the Law on Factoring (“Official Herald of the Republic of Serbia”, Nos. 62/2013 and 30/2018) in respect of capital and has approval to conduct the business of factoring. Continue reading Requirements for Conducting Factoring →

Permanent residence of the foreigner in Serbia

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Permanent residence is the approval of long-term residence of a foreign national in the Republic of Serbia. Conditions for approval of permanent residence, decision-making authority and the procedure for issuing approval, as well as the termination of approval for permanent residence of a foreign citizen in the Republic of Serbia are regulated by the provisions of the Law on Foreigners (“Official Gazette of the RS”, No. 24/2018, 31/2019 and 62/2023), the Rulebook on submitting applications for permanent residence electronically (“Official  Gazette of the RS”, No. 6/2024) and the Rulebook on approval of permanent residence (“Official Gazette of RS”, No. 118/2023).

A foreigner granted permanent residence is equal in rights and obligations with the citizens of the Republic of Serbia, except in respect of those rights and obligations from which they are exempt based on the Constitution and laws.

A foreigner who is granted permanent residence is issued a foreigner’s ID card, which he is obliged to take over personally. Continue reading Permanent residence of the foreigner in Serbia →

Legal aspects of the contract of the company members

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The contract of the company’s members is a named corporate law contract. Unlike the founding act, a mandatory document of every company, the members’ agreement is optional. However, the absence of a legal obligation to conclude a contract for the members of a company, the complexity of relations in multi-member companies, and the great practicality of the members’ contract are reasons for it to be more prevalent in business practice in Serbia.

The contract of members of a company is defined by the provisions of Article 15 of the Companies Act as a contract that is concluded in writing with one or more members of the same company, which regulates issues of importance for their mutual relations in connection with the company, and which produces effect exclusively between the members of the company who concluded it. Continue reading Legal aspects of the contract of the company members →