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Banking and Finance

SEE Legal Corporate and M&A Practice Group – Capability Statement 2025

Sunday, 01 June 2025 by ZS Law

SEE Legal, a network of 11 leading national law firms operating across 12 jurisdictions in South East Europe – including Živković Samardžić as the member firm from Serbia – has just released its Corporate and M&A Practice Group – 2025 Capability Statement.

Over the past two decades, SEE Legal member firms have successfully collaborated on major regional projects involving acquisitions, restructurings, and investments. This extensive joint experience has firmly established SEE Legal as a leading provider of legal services in the region.

You can explore selected highlights of SEE Legal’s recent cross-border work, showcasing the network’s deep and wide-ranging expertise here.

Corporate and M&A
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What to Expect from the Amendments to the Law on Advertising

Tuesday, 27 May 2025 by ZS Law
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Serbia Navigating Capital Markets

Tuesday, 27 May 2025 by ZS Law
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Acquiring Real Estate in Serbia – Foreign individuals and legal entities

Tuesday, 27 May 2025 by ZS Law
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Živković Samardžić Contributes to the White Book 2024 of the Serbian Foreign Investors Council (FIC)

Friday, 22 November 2024 by ZS Law

On November 15, 2024, the Foreign Investors Council (FIC) has officially presented the “White Book 2024,” a key publication containing valuable recommendations aimed at fostering economic growth and improving living standards in Serbia. This year’s edition offers a comprehensive set of insights developed by FIC members, highlighting key areas where improvements are essential to strengthen the business environment in the country.

The White Book 2024, which marks over two decades of collaboration between foreign investors and the Serbian government, reflect the most pressing issues identified by FIC members, including taxes, labour regulations, digitalization and e-commerce, real estate and construction, combating illicit trade and inspections, environmental protection and foreign exchange operations, the pharmaceutical industry, and tourism and hospitality.

This year, Živković Samardžić is proud to once again contribute to the White Book, reinforcing its commitment to supporting Serbia’s economic development through meaningful legal expertise. Our distinguished team members have contributed to various sections:

  • Srđan Zerdo, Attorney at Law, contributed to topics related to Construction Land and Development, Mortgages and Real Estate Leasing, Cadastral Procedures, and Restitution.
  • Danka Draško and Marko Leković, Attorneys at Law, contributed to topics related to Labour Law, Employment of Foreigners, and Secondment of Employees.
  • Nataša Sarić, Attorney at Law, contributed to topics related to Tax Procedure and Personal Income Tax.

As a proud member of the Foreign Investors Council, Živković Samardžić continues to support the ongoing dialogue aimed at enhancing Serbia’s investment environment and shaping policies that drive sustainable development. We encourage you to explore the full White Book 2024, available for download on the FIC website, and dive into the detailed recommendations contributed by our team and other leading experts.

For more information, visit the Foreign Investors Council’s website and read the full White Book 2024.

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Živković Samardžić at the Belgrade Business Run 2024

Monday, 30 September 2024 by ZS Law

Živković Samardžić once again participated in the Belgrade Business Run, held on September 26, 2024, at the beautiful Ada Ciganlija. This year, our team had 13 runners competing in the 5 km race among over 9,000 participants.

While emphasizing a competitive spirit, the Belgrade Business Run also fosters team bonding, promotes employee health, and encourages socializing among colleagues.

By taking part in this event, we motivate our team to stand for values that truly matter. Therefore, Živković Samardžić would like to give a special shoutout to our college Đorđe Vojinović, who achieved an outstanding time of 21:47. His competitive spirt, dedication and effort are truly inspiring, well done Đorđe!

After the race, all participants enjoyed an awards ceremony, great music, and socializing. Our team is already looking forward to the next Belgrade Business Run and the exciting challenges it will bring!

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Živković Samardžić Lawyers recognized by The Legal 500 EMEA 2024

Monday, 01 April 2024 by ZS Law

Živković Samardžić is truly delighted to learn about rankings in the Legal 500 Europe, Middle East & Africa 2024 directory. The office has been ranked across a diverse set of practice areas and our lawyers have been recognized as great professionals.

Miloš Milošević, Partner has been recognized as a Leading Individual, while Ivan Ljubisavljević, Partner as a Next Generation Partner, for their Dispute Resolution work. 

Dispute Resolution team has also been recognized as consistently handling high-stakes commercial cases before the Serbian and Montenegrin courts, Živković & Samardžić Law Office acts for several domestic investment banks and insurance companies on an ongoing basis. The firm is home to experts in litigation and enforcement work, along with restructuring, reorganisation and insolvency proceedings. The career of Miloš Milošević includes being a civil law appellate chamber judge at the Belgrade District Court, while Ivan Ljubisavljević is a banking and finance litigation specialist. Civil litigation practitioner Tihomir Vlaović provides additional support.

One of the client testimonials are: ‘Expertise and experience make this team stand out by comparison to other firms.’, ‘Miloš Milošević is great for his understanding of banks’ business and aspirations.’

Additionally, Danka Draško has been recognized as a Rising Star for her Employment work, while the Employment team praised for being particularly active in advising on redundancies, reorganizations, union negotiations, employment disputes and executive terminations, to amendments of working conditions and disciplinary procedures

Client impressions were: ‘They are precise, efficient and professional in every way, and they respect tight deadlines.’, ‘Lawyers from this firm are interested in each client individually, knowing in detail the client’s organisation and type of work, as well as its business needs.’

Other ranked practice areas include Commercial, Corporate and M&A and Competition.

Commercial, Corporate and M&A department led by partners Sava Pavlović and Branislav Živković is known as exceptionally knowledgeable and experienced, acting for major commercial, financial and industrial businesses on complex business transactions. According to clients, “This team is truly impressive. They are incredibly focused and experienced, and their approach is remarkably flexible and innovative“, and “Clients highly value the excellent communication between lawyers and clients, as well as the team’s proactive engagement with them”.

The Competition practice is also recognized by the Legal 500, while Živković Samardžić is highlighted as a firm worth watching in the field of Real Estate and Construction practice. This practice is led by Uroš Đorđević, who has longstanding experience in real estate projects and project finance, as well as infrastructure and procurement contracts, however, he is supported by Srđan Zerdo, whose commercial real estate focus covers investment sales and acquisitions, property developments, FIDIC contracts, hotel operation agreements, and property joint ventures.

The Legal 500 is an independent guide, where firms and individuals are recommended purely on merit, considering various factors such as capabilities of the team and the law firm in general, the complexity and the variety of the performed work, with a great emphasis on client feedback.

Miloš MiloševićUroš ĐorđevićBranislav ŽivkovićMiloš V. MiloševićSava PavlovićIvan LjubisavljevićDanka DraškoTihomir VlaovićSrđan ZerdoThe Legal 500 EMEA 2024
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REGISTRATION OF RIGHTS IN THE REAL ESTATE CADASTRE THROUGH ATTORNEYS AT LAW AND GEODETIC ORGANIZATIONS

Tuesday, 05 December 2023 by ZS Law
Photo by Brandon Griggs on Unsplash

Amendments to the Law on Registration Procedure with the Cadaster of Real Estate and Utilities (now the Law on Registration Procedure with the Cadaster of Real Estate and Infrastructure), among other changes, introduced the obligation that the citizens, starting from November 4th, 2023, can submit requests to the real estate cadaster exclusively through professional users, i.e., attorneys at law and geodetic organisations. The implementation of this system aims to improve the operation of the real estate cadaster, making it more efficient, as well as to enable faster access to relevant information.

The idea for implementing such a system arose from the positive experience with a system implemented by public notaries. Since July 2018, after certification of each agreement (or other document) by which the transfer of ownership rights was conducted, public notaries were required to automatically submit a request for the registration of the rights of new property owners to the competent real estate cadaster. This system proved to be highly efficient because public notaries, before the certification of every agreement, were obligated to check in detail the current status in the real estate cadaster records, as well as to ensure the presence of complete and accurate documents for the registration of rights.

On the other hand, there is a significant number of real estates in Serbia on which ownership rights have been changed before July 2018 (in some situations even decades ago), with these changes not being registered in the real estate cadaster for various reasons. Therefore, there was a need to introduce a new form of digitization and professionalization of the registration procedure that would be applied to those situations. Additionally, it was necessary to solve a number of problems that arose from the traditional system – including long queues, overcrowding at the counters, incomplete requests, extensive documentation in paper form, frequent problems with the rejection of requests due to the instructions of non-professionals, as well as prolonged registration procedures which, due to disputed documentation, lasted for several years. The introduction of a digital system represents the solution to these challenges, offering a more efficient alternative that will improve the experience of the citizens in the registration process.

It should be noted that submitting requests electronically through attorneys, as professional users, is not a novelty, as such a system has been operating successfully in practice for several years. This system allows citizens whose rights are not registered in the real estate cadaster to address the attorneys who will be obligated to review the entire documentation before submitting a request and identify any potential issues or deficiencies in the documentation required for the registration of rights. Citizens will also have the opportunity, in case of any formal or other deficiencies regarding the documentation, to receive expert advice from attorneys on how to overcome these deficiencies.

Communication between the competent real estate cadaster and attorneys is also far more efficient, especially since the Republic Geodetic Authority canceled the option for citizens to schedule meetings with heads of real estate cadasters, heads of legal departments, or officials processing their cases.

In this manner, not only will the possibility of requests for registration of rights being dismissed or rejected be minimized, but the procedure of registration of rights will also be conducted significantly faster than when citizens did it themselves. For this reason, we strongly believe that these changes represent a significant step not only for citizens but also for the entire administration in Serbia, improving transparency and efficiency in the management of real estate and the entire infrastructure.

For more information regarding the novelties in terms of registration of rights, as well as comprehensive legal assistance related to it, feel free to contact our attorneys at law Uroš Đorđević (uros.djordjevic@zslaw.rs), Srđan Zerdo (srdjan.zerdo@zslaw.rs), and Miroslav Živanović (miroslav.zivanovic@zslaw.rs).


UPIS PRAVA U KATASTAR NEPOKRETNOSTI UZ POMOĆ ADVOKATA I GEODETSKIH ORGANIZACIJA

Izmenama i dopunama Zakona o postupku upisa u katastar nepokretnosti i vodova (sada Zakona o postupku upisa u katastar nepokretnosti i katastar infrastrukture), između ostalog, uvedena je obaveza da od 4. novembra 2023. godine, građani mogu podnositi zahteve katastru isključivo preko profesionalnih korisnika, tj. preko advokata i geodetskih organizacija. Implementacija ovog sistema ima za svrhu da unapredi rad katastra, čineći ga jednostavnijim i efikasnijim, te da omogući brži pristup relevantnim informacijama.

Sama ideja za implementaciju ovakvog sistema proistekla je iz pozitivnog iskustva sa sistemom koji su sprovodili javni beležnici. Naime, od jula 2018. godine, javni beležnici su bili obavezni da nakon svake overe ugovora ili drugog dokumenta za prenos vlasništva automatski podnesu zahtev za upis prava novih vlasnika nadležnom katastru nepokretnosti. Ovaj sistem se pokazao izuzetno efikasan jer je svaki javni beležnik pre same overe ugovora bio dužan da detaljno proveri trenutno stanje u evidenciji katastra nepokretnosti, kao i da osigura prisustvo kompletnih dokumenata i ispravnost istih za upis prava.

S druge strane, u Srbiji postoji jako veliki broj nepokretnost koje su menjale vlasnika pre jula 2018. godine (u nekim slučajevima čak i decenijama unazad), a da te promene nisu bile evidentirane u katastru iz različitih razloga. Iz tog razloga, javila se potreba da se uvede novi oblik digitalizacije i profesionalizacije postupka za uknjižbu koji bi se primenio na te slučajeve. Osim toga, bilo je neophodno rešiti niz problema koji su proistekli iz tradicionalnog sistema – dugotrajna čekanja u redovima, gužve na šalterima, nepotpuni zahtevi, obimna dokumentacija u papirnom obliku, česti problemi sa odbacivanjem ili odbijanjem zahteva usled instrukcija nestručnih lica, kao i postupci uknjižbe koji su, zbog sporne dokumentacije, trajali i po nekoliko godina. Uvođenje digitalnog sistema predstavlja odgovor na ove izazove, pružajući efikasniju alternativu koja će unaprediti iskustvo građana u procesu uknjižbe.

Treba imati u vidu da podnošenje zahteva elektronskim putem preko advokata, kao profesionalnih korisnika ne predstavlja novinu, jer takav sistem postoji i uspešno funkcioniše u praksi već nekoliko godina. Ovaj sistem omogućava da se građani, čije pravo nije upisano u registru katastra nepokretnosti, obrate advokatima koji će biti u obavezi da pre podnošenja svakog zahteva pregledaju celokupnu dokumentaciju i ukažu na eventualna sporna pitanja ili nedostatke u dokumentaciji koja je potrebna za upis prava. Građani će takođe imati mogućnosti da u slučaju postojanja bilo kakvih formalnih ili drugih nedostataka u dokumentaciji dobiju stručan savet od advokata kako te nedostatke da otklone. 

Komunikacija između nadležnog katastra i advokata je takođe daleko efikasnija nego da to vrše sami građani, naročito jer je Republički Geodetski Zavod ukinuo mogućnost da građani zakažu sastanak sa načelnicima, šefovima pravnih službi ili referentima koji obrađuju te predmete.

Na navedeni način, ne samo da će se minimizovati mogućnost da zahtevi za uknjižbu budu odbačeni ili odbijeni, već će i sam postupak upisa prava biti sprovođen znatno brže nego kada su to činili građani samostalno. Iz tog razloga smatramo da ove izmene predstavljaju značajan korak ne samo za građane, već i za kompletnu administraciju u Srbiji, unapređujući transparentnost i efikasnost u upravljanju nepokretnostima i celokupnom infrastrukturom.

Za detaljnije informacije u vezi sa novinama u pogledu uknjižbe, kao i kompletnu pravnu pomoć u vezi sa tim, budite slobodni da kontaktirate naše advokate Uroša Đorđevića (uros.djordjevic@zslaw.rs), Srđana Zerda (srdjan.zerdo@zslaw.rs) i Miroslava Živanovića (miroslav.zivanovic@zslaw.rs).

Uroš ĐorđevićReal Estate and ConstructionSrđan ZerdoMiroslav Živanović
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Miloš Milošević recognized as the one of most influential dispute resolution lawyers in Serbia

Sunday, 19 November 2023 by ZS Law

After being featured as a Leading Individual by the Legal 500, included in the Legal 500’s 2023 Arbitration Powerlist: CEE, ranked individually by Chambers and Partners, and featured as Highly regarded by the IFLR1000, Živković Samardžić Dispute Resolution Partner Miloš Milošević has recently appeared in Business Today’s list of Serbia’s Top 10 Most Influential Dispute Resolution Lawyers. 

The publication recognizes Miloš as one of the “professionals in Serbia [that] have marked themselves as luminaries in the field of Dispute Resolution” and “whose acumen is extensively lauded by clients and the legal fraternity alike”.

Miloš MiloševićDispute Resoulution
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A new entry to Živković Samardžić’s track record in the Serbian banking sector: AIK Banka is the new owner of Eurobank Direktna

Friday, 03 November 2023 by ZS Law

Following the announcement from March 2023, and upon receipt of the approvals by all competent regulatory authorities, on November 2, 2023, the shareholders of Eurobank Direktna completed the sale of their shares in Eurobank Direktna to AIK Banka a.d.

Eurobank S.A. (“Eurobank”) entered the banking business in Serbia in 2003 as Eurobank EFG Serbia. After the merger with Direktna Banka, in which Živković Samaržić has advised both merging banks as well, the merged bank – Eurobank Direktna, has become number eight in the Serbian market with a market share of 5.5% in assets, a loan portfolio of 1,7 billion euro and 1,5 billion euro deposits (as of September 2022).

Following this transaction, Eurobank Direktna’s and AIK Banka’s joint participation in the Serbian banking market will be higher than 13%, with over 4 billion euro deposits and a very strong capital base.

The acquisition of Eurobank Direktna is another milestone in the Serbian banking sector as it also reflects the increasing competition and consolidation within Serbia’s banking sector.

Živković Samardžić acted as local legal counsel to Eurobank SA on all aspects of this process. The transaction was led by Živković Samardžić corporate/M&A partners Branislav Živkovićand Sava Pavlović, and was supported by the team consisting of partner Uroš Đorđević, and associates Ilija Milosavljević and Ana Grebo.

Branislav ŽivkovićUroš DjordjevićSava PavlovićAna greboIlija MilosavljevićCorporate and M&A
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