Igor Živkovski Appointed to the Working Group for Drafting the Amendments to the Law on the Centralised Records of Beneficial Owners

by ZS Law

The Ministry of Economy of the Republic of Serbia has appointed Igor Živkovski, Živković Samardžić Corporate and M&A Partner, to the working group established to draft the Amendments to the Law on the Centralised Records of Beneficial Owners. Igor was nominated by the Foreign Investors Council. Besides the members from the Ministry of Economy itself, the group includes experts nominated by the Ministry of Finance, Ministry of Trade, Tourism, and Telecommunications, Ministry of Internal Affairs, Ministry of Justice, Ministry of Public Administration and Local Self-Government, Tax Administration, National Bank of Serbia, Business Registers Agency and Chamber of Commerce and Industry of Serbia.

The working group aims to improve this Law, which was enacted on May 25, 2018 in an emergency procedure, without any public consultations and which became effective on June 8, 2018. The Centralised Records of Beneficial Owners was established on December 31, 2018 and is kept by the Business Registers Agency. The Centralised Records is a public, unique, central, electronic database of information about natural persons – beneficial owners of legal entities and other entities registered in the Republic of Serbia.

The Foreign Investors Council (FIC) was established in 2002 as a promoter of the investment conducive business environment and solid business ethics and is currently connecting more than 120 members with investments of over EUR 33 billion and more than 100,000 employees in Serbia. Živković Samardžić, one of Serbia’s leading full-service independent law firms, is a proud member of the FIC. Igor Živkovski, Živković Samardžić Corporate and M&A Partner, is the FIC’s Legal Committee President.

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