Specifics of branch operations in Serbia

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:

  1. Companies Act
  2. The Law on the Registration Procedure in the Business Registers Agency
  3. Foreign Trade Act
  4. Law on Foreign Currency Transaction
  5. Law on Payment Operations
  6. Law on Accounting
  7. other bylaws adopted based on the said laws.

Continue reading Specifics of branch operations in Serbia

Liquidation of the Association

The association’s liquidation procedure shall be regulatied by provisions of the Law on Associations. The provisions of the law regulating liquidation of business companies shall apply accordingly to any issues having to do with the association’s liquidation procedure that are not regulated by the Law on Associations.

Liquidation of the Association – Reasons and Procedure

Liquidation of the association and association’s deletion from the Register of Associations of the Serbian Business Registers Agency (hereinafter referred to as the Register) shall only take place upon completion of the association’s liquidation procedure:

  • if the number of members declines below the number of founders required for its establishment and the association’s competent body fails to take a decision to admit new members within thirty (30) days
  • if the term for which the association has been established expires, when an association has been established for a definite period
  • if the association’s competent body takes the decision to terminate activities
  • if it is established that the association has not been pursuing the activities to achieve its statutory goals or has not been organized in line with its statute for over two (2) years without any interruptions or if the time that has elapsed has been double that specified by the statute for holding the assembly session and the session has not taken place
  • if the association’s activities have been banned. Continue reading Liquidation of the Association

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