The institution of continuation of activities of entrepreneurs in the form of a company is governed by the provisions of Article 92 of the Law on Business Companies (“Official Gazette of the RS”, no. 36/2011, 99/2011, 83/2014 – other law, 5/2015, 44 /2018, 95/2018, 91/2019 and 109/2021 – from now on Law on Business Companies).
According to Article 92 of the Law on Business Companies, an entrepreneur can decide to continue performing activities in the form of a business company, whereby the provisions of the Law on Business Companies on establishing a given form of the company shall be applied accordingly. Based on the decision on the continuation of activities in the form of a business company, the entrepreneur is simultaneously deleted from the register of business entities, and the registration of the establishment of a business company is carried out, which takes over all the rights and obligations of the entrepreneur arising from business up to the time of the establishment of that business company.
After the loss of the status of an entrepreneur following the provisions of Article 92 of the Law on Business Companies, that natural person remains responsible with all of his assets for all obligations incurred in connection with the performance of activities until the moment the entrepreneur is deleted from the register.