Procedure for issuance, extension, revoaction and cessation of validity of work permit for foreigners in Serbia

The procedure of issuance, extension, revocation and cessation of the validity of a work permit for foreigners in Serbia shall be regulated by the provisions of the Foreign Nationals Employment Act (“Off. Herald of RS”, Nos. 128/2014, 113/2017, 50/2018 and 31/2019).

The organization competent for employment affairs, performing such activities as entrusted activities following the law governing general administrative procedure, issues decisions in the procedure of issuance, extension, revocation and cessation of the validity of a work permit unless specific issues are regulated otherwise by the Foreign Nationals Employment Act (“Off. Herald of RS”, Nos. 128/2014, 113/2017, 50/2018 and 31/2019) or the act governing the residence of foreign nationals.

The organization competent for employment affairs keeps the record of data relevant to the issuance of decisions under the Foreign Nationals Employment Act (“Off. Herald of RS”, Nos. 128/2014, 113/2017, 50/2018 and 31/2019), per the principles of protection of personal data, efficacy, efficiency, conscientiousness, and responsibility.

The territorially competent organizational unit of the organization competent for employment affairs, as defined by articles of association, rules in the first instance in the procedure for the issuance, extension, revocation and cessation of the validity of a work permit and an appeal may be lodged against the decree which was ruled in the first instance. The final decree on the appeal is issued by the minister competent for employment affairs. An administrative dispute may be instituted against the final decree in accordance with the law. Continue reading Procedure for issuance, extension, revoaction and cessation of validity of work permit for foreigners in Serbia

Registration Of Status Change And Legal Consequences Of Status Change

Registration of a status change of a company is an integral part of the phase of completion of the procedure for the implementation of status changes (merger, acquisition, division and spin-off), which are regulated by the provisions of the Companies Act.

The registration of a status change is made in compliance with the registration act concerning the recipient company and concerning the transferring company, after entry into force of the contract on status change, i.e. the division plan.

The increase, i.e. reduction of share capital, occurred as a result of a status change is registered in compliance with the registration act as well as deletion from the register of the company which is dissolved as a result of status change.

The registration of the status change may not be made before the payout is made to the dissenting members of the company participating in the status change. The chairman of the board of directors, i.e. the chairman of the company’s supervisory board, if the company has a two-tier management system confirmed by a statement in writing that all dissenting members of the company participating in the status change have been paid out, i.e. that there were no dissenting members of the company. Continue reading Registration Of Status Change And Legal Consequences Of Status Change

Insurance agency

Insurance agency activities shall be the activities of initiating, proposing or carrying out the tasks of preparation and conclusion of insurance contracts on behalf and for the account of an insurance undertaking. Insurance agency activities shall be carried on by a legal person or natural person – entrepreneur based on an insurance agency contract, under Insurance Law (RS Official Gazette, No 139/2014).

The insurance agency contract shall be kept on the business premises of the contracting parties.

Insurance agency, as an exclusive activity, shall be carried on by:

  • An insurance agency undertaking with its head office in the Republic of Serbia, registered with a competent authority based on its license to carry on insurance agency activities issued by the National Bank of Serbia;
  • A natural person – an entrepreneur (from now on: insurance agent) with its head office in the Republic of Serbia, registered with a competent authority based on its license to carry on insurance agency activities issued by the National Bank of Serbia.

A bank, with its head office in the Republic of Serbia and established following the law governing banks (from now on: the Bank), a financial leasing provider with its head office in the Republic of Serbia and established under the law governing financial leasing and the public postal operator with its head office in the Republic of Serbia and established following the law governing postal services may, as a supplementary activity, carry on insurance agency business based on prior approval of the National Bank of Serbia for carrying on these activities. Continue reading Insurance agency