Foreign association’s representative office

An foreign association’s representative office represents an form of organization of a foreign or international non-governmental non-profit association having its head office on the territory of the Republic of Serbia.

The status and operations of foreign associations are regulated by the provisions of the Law on Associations.

For the purposes of the Law on Associations, a foreign association shall be any association that has its head office in another state and is established under that state’s regulations in order to pursue a shared or general interest or goal and carries out activities that are not geared at making profit as well as any international association or another side or international non-governmental organization which has members that have associated on a voluntary basis in order to pursue a shared or general interest or goal not geared at making profit. Continue reading Foreign association’s representative office

Parties to a financial leasing transaction

Law on financial leasing governs:

  • financial leasing transactions
  • financial lease agreements
  • rights and obligations of parties to a financial leasing transaction
  • terms of performing financial leasing transactions
  • supervision of Lessors’ operations and
  • the Register of Financial Leases.

Financial Leasing Transaction

A financial leasing transaction means a financial intermediation transaction which is performed by the Lessor and implies that the Lessor, while retaining the right of ownership of the Lease Asset, transfers to the Lessee, for an agreed period of time, the right to possession and use of the Lease Asset, including all risks and rewards incidental to ownership, in return for the Lease Payment which the Lessee pays to the Lessor, provided that at least one of the following conditions has been met: Continue reading Parties to a financial leasing transaction

Associations according to Law on Associations

The Law on Associations shall regulate:

  • the establishment and legal status of associations
  • their entry and deletion from the Register
  • membership and bodies
  • associations’ status changes
  • termination
  • any other issues of importance to their activities.

The present Law shall also regulate the status and operations of foreign associations.

For the purposes of the Law on Associations, an association shall be a voluntary and non-governmental non-profit organization based on the freedom of association of several individuals or bodies corporate, established in order to pursue and promote a particular shared or general goal and interest which are not prohibited by the Constitution or the law. Continue reading Associations according to Law on Associations