A foreign company branch office is a separate organizational unit of a company in the territory of the Republic of Serbia through which the company performs activity in accordance with the law.
A foreign legal entity may permanently perform activities on the territory of the Republic of Serbia through a branch established and registered following the regulations of the Republic of Serbia. The following rules regulate the registration and operation of a component of a foreign legal entity:
- Companies Act
- The Law on the Registration Procedure in the Business Registers Agency
- Foreign Trade Act
- Law on Foreign Currency Transaction
- Law on Payment Operations
- Law on Accounting
- other bylaws adopted based on the said laws.
Continue reading Specifics of branch operations in Serbia
The provisions of the Companies Act (“Off. Herald of RS”, Nos. 36/2011, 99/2011, 83/2014 – other law, 5/2015, 44/2018 and 95/2018) regulated the implementation procedure of status changes of the division and the spin-off.
Status change division and spin-off may involve one or several companies of the same or different legal form. They may not apply to a company in liquidation or bankruptcy unless the status change is conducted to measure reorganization following the bankruptcy act.
A company may divide by simultaneously transferring all of its assets and obligations to:
- Two or more newly incorporated companies (the division by incorporation) or
- Two or more existing companies (the division by acquisition) or
- One or more newly incorporated companies and one or more existing companies (the mixed division).
Continue reading Company’s division plan
Representation is a legal business of undertaking legal actions in the name and on behalf of the represented person (in his name and on behalf of the designated person), which produces legal effect towards the represented person, provided that the representative acted within the given authorization powers and that the third party authority, notified of representation. Actions taken by the representative within the limits of his administration have legal effect as if they were taken only by the represented person.
Articles 13 to 16 of the Customs Law (“Official Gazette of the RS”, No. 95/2018, 91/2019 – other law and 144/2020) regulate customs representation.
The stated provisions of the Customs Law regulate the concept of customs representative, direct and indirect customs representation, and the conditions and procedure for granting and revoking the authorization of a customs representative. Continue reading Customs representation