Misdemeanour Charges In The Serbian Business Registers Agency

CONTRIBUTOR ARTICLE To print this article, all you need is to be registered or login on Mondaq.com. The Serbian Business Registers Agency recently announced that will press misdemeanour charges against businesses that have not registered their real owner. The director of Serbian Business Registers Agency Milan Lucic stated that with the new regulations this matter will be additionally rearranged and will therefore help tracking the flow of money.

In the past companies received enormous money loans from unknown investors to further increase the work of the company. The instructions of international financial organisations confirm that these investors must be identified as they clearly have a crucial influence on decisions in the company although their names never appear in the organisational structure of the company. Until recently, the submitting entity was obligated to submit the data about the real owner, only in records, and to confirm it with a qualified certificate.

The new legislation draft says that all submitting entities will be obligated to submit the real owner data to the Central Data Control of the Business Registers Agency site -accessible only to control organs and not the public. This will help to identify and stop possible threats to the business environment in Serbia. The content of this article is intended to provide a general guide to the subject matter.

Specialist advice should be sought about your specific circumstances. AUTHOR(S) ARTICLE TAGS Serbia Corporate/Commercial Law Corporate and Company Law POPULAR ARTICLES ON: Corporate/Commercial Law from Serbia Amendment Of The Policy For Registration With The BFU KPMG in Cyprus The Council of Ministers approved on 30 November 2022 the amendment of the policy for the registration of companies in the Register of Foreign Interest Entities, which is currently being administered through the Business Facilitation Unit.