Deadline for registration in the Central Registry

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In focus: Deadline for the registration of data on the ultimate beneficial owner in the Central Registry of Ultimate Beneficial Owners

In light of the Law on the Central Registry of Ultimate Beneficial Owners which entered into force on 8 June 2018, we inform you that the Serbian Business Registers Agency has established the Central Registry of Ultimate Beneficial Owners.

In accordance with the above law, authorized persons of existing registered entities are obliged to register the data regarding the ultimate beneficial owner in the Central Registry of Ultimate Beneficial Owners, using a qualified electronic signature, no later than 31 January 2019.

For entities which were incorporated after the establishment of the Central Registry, authorized persons shall be obliged to perform registration within 15 days from the day of incorporation.

In case of change in the ownership structure and members of the bodies of registered entities, as well as in case of other changes on the basis of which the fulfillment of conditions for acquiring the capacity of ultimate beneficial owner can be estimated, authorized persons of registered entities must register this change within 15 days from the day such change took place.

We underline that these obligations apply to the following entities:

– companies, excluding public joint stock companies;
– cooperatives;
– branches of foreign companies;
– business and other associations, except political parties, trade unions, sports organizations and associations, churches and religious communities;
– foundations and endowments;
– institutions;
– representative offices of foreign companies, associations, foundations and endowments.

Disclaimer: The text above is provided for general guidance and does not represent legal advice. Copyright Cvetkovic, Skoko & Jovicic 2015