Amendments to the Serbian Company Law
The recent amendments to the Serbian Company Law, which have been adopted on 08 June 2018, mostly relate to the harmonization with the EU acquis (such as cross-border merger and European company forms). However, several important changes have been made so as to resolve the issues in the practical implementation of the previous Law. The most important changes are as follows:
Registered business name
In the future a business name cannot contain the designation “SRB” without the approval of the Ministry of Economy. As for companies already containing the
designation “SRB” in their names, the relevant ministry shall be authorized to request that each of these companies delete this designation from their business
name unless they obtain approval in the meantime. Also an abbreviated business name of a company can now contain an acronym.
Registration of company email-address
All companies will have to register their e-mail addresses with the Business Registers Agency register and the deadline is until 20 October 2019.
Defined deadline for distribution of dividends
The amended Law introduces a deadline of 6 months for the payment of dividends following the decision on declaring dividends.
Calculation of assets of significant value
The amendments bring clarification to the situations which involve disposition of assets in several related transactions and taking out a loan and granting securities
for such a loan, where in case of latter, it is now clarified that the higher of the (i) the loan value or (ii) the value of each of the securities given for such a loan is to be
taken into consideration for the purposes of calculating the 30% threshold, disregarding the sum of each of these individual values
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