Amendments to the Companies’ Act
The National Assembly of the Republic of Serbia adopted the Law on Amendments to the Companies’ Act on 8 June 2018 (hereinafter the “Law”). Nevertheless, the majority of changes became applicable as of 1 October 2018.
In addition to numerous amendments related to various corporate matters, the Law imposes some obligations for commercial entities – provisions that are mandatory to be complied with. One of them is the mandatory registration of e-mail address. All companies and entrepreneurs, as well as branches and representative offices of foreign companies are required to register their e-mail address with the Serbian Business Registers Agency by 1 October 2019.
Another obligation is the mandatory registration of branches of domestic companies (which was, prior to the effective date, required only in specific cases), therefore, all domestic companies that have formed braches are required to register such branches by 1 October 2019.
One of the changes that will facilitate performance of business activities is certainly the abolition of use of corporate seal. While, prior to the effective date of this Law, companies were not required to use their corporate seal unless otherwise provided under some particular regulations, the Law provides that a separate regulation can no longer impose the use of the seal requirement.
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