Novelties in the Law on Amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens
The Government of the Republic of Serbia has sent to the National Assembly of the Republic of Serbia proposals of the Laws on Amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens. If the laws are adopted, the implementation will start from 01.02.2024. in which period state authorities should adopt bylaws and make technical preparations for the implementation of the Laws.
The essential content of the above-mentioned bills on amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens refers to: the introduction of a unique permit covering a residence permit and a work permit, changes in the application procedure, a longer period of validity of the unique permit and temporary residence, as well as stricter conditions of entry, forced expulsion and higher monetary penalties for misdemeanors.
The need for amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens has arisen due to world events and a greater influx of foreign citizens into the Republic of Serbia in the past year. The current legal solutions represent an excessive administrative and bureaucratic burden for foreign citizens and domestic employers which prevents them to obtain temporary residence permits and work permits for employees, efficiently and in a timely manner. The proposals of the Law on Amendments aim to simplify and speed up the procedure for obtaining residence and work permits in accordance with the needs of the labor market.
I. Unique permit that includes a residence permit and a work permit
The proposed amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens introduce a unique permit, which implies the right of a foreign citizen to stay and work in the Republic of Serbia. So far, foreign citizens have had to regulate their temporary residence first, and then apply for a work permit. A unique permit can be obtained based on employment, which includes self-employment, as well as on the basis of professional specialization, training and practice. A unique permit will be issued with a validity period of up to 3 years depending on the circumstances of the individual case.
II. News in the application process
Applications for the issuance of a unique permit and temporary residence will be submitted exclusively electronically via the Euprava portal. According to the current legal solution, there is a possibility to submit applications online, but in practice most applications are still submitted directly to the competent Immigration Office. Foreign citizens will apply to the Immigration Office, along with documents for temporary residence permits and work permits. The Immigration Office will ex officio communicate with the National Employment Service and obtain approval if the conditions for issuing a work permit are met.
The application for the issuance of a temporary residence permit, i.e., a unique permit, beside a foreign citizen, could be submitted on his behalf and on his account by the employer who intends to employ a foreign citizen, which is a novelty since so far, the application for temporary residence has been exclusively submitted by a foreign citizen.
In practice, the procedure lasted about 2 months and involved first regulating the temporary residence permit and then obtaining a work permit. The Bill on Amendments to the Law on Foreigners stipulates a deadline of 15 days from the submission of a complete application for the issuance of a unique permit or temporary residence permit.
Foreign citizens will be able to apply for the renewal of temporary residence permit, i.e., a unique permit, no earlier than 30 days, and no later than the day of expiry of the temporary residence permit, i.e., a unique permit. Based on the current legal decision, the application for the renewal of the temporary residence permit was submitted no later than 30 days before the expiry of the temporary residence permit, which created a lot of problems in practice.
III. Permit in the form of a biometric document
The laws on Amendments to the Law on Foreigners stipulates that temporary residence (on all grounds prescribed by the Law), i.e., a unique permit for temporary residence and work permit, should be issued in the form of a biometric document, which replaces the temporary residence label in the passport of a foreign citizen. Prescribing a biometric permit for temporary residence, i.e., a biometric unique permit-permit for temporary residence and work permit is another step forward in harmonizing domestic legislation with European standards when it comes to the security of documents issued to foreign citizens.
In addition to the above, standards related to the security aspect and control of the movement of foreign citizens on the territory of the Republic of Serbia will be raised in a prescribed manner, since all foreigners who are granted temporary residence, i.e. issued a unique permit, will be taken biometric data (photo, fingerprints and signature), in accordance with the law. Also, by issuing a biometric document to foreign citizens who have been granted temporary residence, i.e. issued unique permits, they are equated with citizens of the Republic of Serbia, since the issued document allow them to use other services that citizens of the Republic of Serbia have on the eUprava portal, such as the right to use electronic signatures when exercising their rights and obligations, which is an additional benefit when it comes to the position of foreigners in the Republic of Serbia.
IV. D-visa for employment
Foreign citizens of countries who need a D visa for a longer stay of up to 180 days to perform work, had to obtain a work permit after arriving in the Republic of Serbia, in order to start working. The proposals of the Law on Amendments to the Law on Foreigners and the Law on Employment of Foreign Citizen stipulate that foreign citizens will be able to start working only based on the obtained Visa D, without the obligation to obtain a work permit. In this way, foreign citizens are allowed to regulate their residence and employment status from their home country before coming to the Republic of Serbia, which will especially favor domestic employers who hire foreign citizens to work on shorter projects for up to 180 days.
V. Stricter obligations for inviters, forced eviction procedure and fines for misdemeanors
As, on the one hand, the laws on amendments introduce a significant liberalization of the rules for obtaining temporary residence and work permits, on the other hand, there is a need to make certain provisions of the law stricter, in order to prevent irregular migration and abuse of a more favorable regime that the bill on amendments to the Law on Foreigners should introduce.
Obligations of the inviter when inviting foreign citizens to the Republic of Serbia are prescribed in a transparent manner. In addition, in the event that, after the issuance of the visa, illegal migration occurs, the manner in which the costs of accommodation in a shelter for foreigners and the costs of returning the foreigner to the country of origin are charged from the foreigner, if he has funds, or from the inviter on the basis of whose invitation letter a foreigner came to the Republic of Serbia. In this sense, the legal basis for the adoption of regulations regulating the closer conditions and the method of calculating the costs of forced removal of a foreigner is prescribed.
In the end, in order to ensure better compliance of foreign citizens and domestic employers with regulations, the amount of prescribed monetary penalties for noncompliance with certain provisions of the Laws on Amendments to the Law on Foreigners and the Law on Employment of Foreign Citizens has been significantly increased.
If you have any questions regarding this topic, feel free to contact attorney Ana Popović: ana.popovic@zslaw.rs, attorney Danka Draško: danka.drasko@zslaw.rs, attorney Marko Leković: marko.lekovic@zslaw.rsor your regular contact person in Živković Samardžić Law Office.
Novine u Zakonu o izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca
Vlada Republike Srbije je uputila Narodnoj skupštini Republike Srbije predloge Zakona o izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca. Ukoliko predlozi zakona budu usvojeni, primena će početi od 01.02.2024. godine u kome periodu državni organi bi trebali da donesu podzakonske akte i izvrše tehničke pripreme za primenu Zakona.
Suštinska sadržina gore pomenutih predloga zakona o izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca odnosi se na: uvođenje jedinstvene dozvole koja obuhvata dozvolu za boravak i dozvolu za rad, promene u postupku podnošenja zahteva, duži period trajanja jedinstvene dozvole i privremenog boravka, kao i strožiji uslovi ulaska, prinudnog iseljenja i veće novčane kazne za prekršaje.
Potreba za izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca pojavila se usled svetskih dešavanja i većeg priliva stranih državljana u Republiku Srbiju u poslednjih godinu dana. Trenutna zakonska rešenja su predstavljala preterano administrativno i birokratsko opterećenje za strane državljane i domaće poslodavce i onemogućavala ih da efikasno i u kratkom roku obezbede odobrenje za privremeni boravak i radnu dozvolu za zaposlene. Predlozi zakona o izmenama i dopunama imaju za cilj da se postupak pribavljanja boravišne i radne dozvole pojednostavi i ubrza u skladu sa potrebama tržišta rada.
I. Jedinstvena dozvola koja obuhvata dozvolu za boravak i dozvolu za rad
Predloženim izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca uvodi se jedinstvena dozvola koja podrazumeva pravo stranog državljanina da boravi i radi u Republici Srbiji. Strani državljanini je do sada morao da prvo reguliše svoj boravak, a nakon toga da podnese zahtev za izdavanje radne dozvole. Jedinstvena dozvola moći će da se dobije po osnovu zapošljavanja, a što podrazumeva i samo-zapošljavanje, kao i po osnovu stručne specijalizacije, obuke i prakse. Jedinstvena dozvola izdavaće se sa rokom važenja do 3 godine u zavisnosti od okolnosti pojedinačnog slučaja.
II. Novine u postupku podnošenja zahteva
Zahtevi za izdavanje jedinstvene dozvole i privremenog boravka podnosiće se isključivo elektronskim putem preko portala Euprave. Prema trenutnom zakonskom rešenju postoji mogućnost da se zahtevi podnesu online, ali se u praksi većina zahteva i dalje podnosi neposredno u nadležnoj Upravi za strance. Strani državljani će podnositi zahtev Upravi za strance, zajedno sa dokumentima za odobrenje privremenog boravka i radne dozvole. Uprava za strance će po službenoj dužnosti komunicirati sa Nacionalnom službom za zapošljavanje i dobijati odobrenje da li su ispunjeni uslovi za izdavanje radne dozvole.
Zahtev za izdavanje odobrenja za privremeni boravak, odnosno jedinstvene dozvole pored stranog državljanina moći će u njegovo ime i za njegov račun da podnese poslodavac koji stranog državljanina namerava da zaposli, što predstavlja novitet pošto je do sada zahtev za privremeni boravak isključivo podnosio strani državljanin.
Postupak je u praksi trajao oko 2 meseca i podrazumevao je prvo regulisanje odobrenja za privremeni boravak pa nakon toga pribavljanje radne dozvole. Predlog zakona o izmenama i dopunama Zakona o strancima propisuje rok od 15 dana od podnošenja urednog zahteva za izdavanje jedinstvene dozvole odnosno dozvole za privremeni boravak.
Zahtev za obnovu privremenog boravka, odnosno jedinstvene dozvole strani državljani moći će da podnesu najranije 30 dana, a najkasnije do dana isteka važenja privremenog boravka, odnosno jedinstvene dozvole. Na osnovu trenutnog zakonskog rešenja zahtev za obnovu odobrenja za privremeni boravak stranac je podnosio najkasnije 30 dana pred istek privremenog boravka, što je stvaralo dosta problema u praksi.
III. Dozvola u formi biometrijskog dokumenta
Predlogom zakona o izmenama i dopunama Zakona o strancima propisano je da se privremeni boravak (po svim osnovama propisanim Zakonom), odnosno jedinstvena dozvola za privremeni boravak i rad izdaje u vidu biometrijskog dokumenta, čime je zamenjena nalepnica privremenog boravka koja se utiskuje u pasoš stranca. Propisivanje biometrijske dozvole za privremeni boravak, odnosno biometrijske jedinstvene dozvole-dozvole za privremeni boravak i rad je još jedan korak napred u harmonizaciji domaćeg zakonodavstva sa evropskim standardima kada je u pitanju bezbednost dokumenata koji se izdaju stranim državljanima.
Pored navedenog, na propisani način podižu se standardi vezani za bezbednosni aspekt i kontrolu kretanja stranih državljana na teritoriji Republike Srbije, budući da će se svim strancima kojima se odobrava privremeni boravak, odnosno izdaje jedinstvena dozvola, uzimati biometrijski podaci (fotografija, otisci prstiju i potpis), u skladu sa zakonom. Takođe, izdavanjem biometrijskog dokumenta stranim državljanima kojima je odobren privremeni boravak, odnosno izdata jedinstvena dozvola su izjednačeni sa državljanima Republike Srbije, budući da im se izdaju dokumenti koji omogućavaju korišćenje i drugih usluga koje imaju državljani Republike Srbije na portalu eUprave, kao što je pravo na korišćenje elektronskog potpisa prilikom ostvarivanja svojih prava i obaveza, što dodatno predstavlja benefit kada je u pitanju položaj stranaca u Republici Srbiji
IV. Viza D na osnovu zaposlenja
Strani državljani država kojima je radi ulaska u Republiku Srbiju potrebna viza D za duži boravak do 180 dana kako bi obavljali rad, morali su nakon dolaska u Republiku Srbiju da pribave radnu dozvolu, kako bi počeli sa radom. Predlozima zakona o izmenama i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca predviđeno je da će strani državljani moći da otpočnu rad samo na osnovu dobijene vize D, bez obaveze da pribave radnu dozvolu. Na ovaj način se omoguće stranom državljaninu da reguliše svoj boravišni i radni status iz matične države pre dolaska u Republiku Srbiju, što će naročito pogodovati domaćim poslodavcima koje strane državljane angažuju za rad na kraćim projektima do 180 dana.
Kako sa jedne strane predlozi zakona o izmenama i dopunama uvode značajnu liberalizaciju pravila za dobijanje privremenog boravka i radne dozvole, sa druge strane se javlja potreba da se određene odredbe zakona pooštre, a kako bi se sprečile nezakonite migracije i zloupotrebe povoljnijeg režima koji bi predlog zakona o izmenama i dopunama Zakona o strancima trebao da uvede.
Na transparentan način propisane su obaveze koje pozivar treba da ima u vidu kada poziva strane državljane u Republiku Srbiju. Dodatno, u slučaju da, nakon izdavanja vize dođe do nezakonite migracije, propisan je način na koji se troškovi smeštaja u prihvatilište za strance i troškovi vraćanja stranca u zemlju porekla naplaćuju od stranca, ukoliko ima novčanih sredstava, odnosno od pozivara na osnovu čijeg pozivnog pisma je stranac došao u Republiku Srbiju. U tom smislu, propisan je i pravni osnov za donošenje propisa kojim se uređuju bliži uslovi i način izračunavanja troškova prinudnog udaljenja stranca.
V. Pooštrene obaveze pozivara, postupak prinudnog iseljenja i novčanih kazni za prekršajne
Na kraju kako bi se obezbedlila bolja usklađenost stranih državljana i domaćih poslodavaca sa propisima, značajno su povećani iznosi zaprećenih novačnih kazni za prekršaje u slučaju da se prekrše određene odredbe zakona o izmenma i dopunama Zakona o strancima i Zakona o zapošljavanju stranaca.
Ako imate bilo kakva pitanja u vezi sa ovom temom, budite slobodni da kontaktirate advokata Anu Popović: ana.popovic@zslaw.rs, advokata Danku Draško: danka.drasko@zslaw.rs, advokata Marka Lekovića: marko.lekovic@zslaw.rs ili Vašu redovnu kontakt osobu u advokatskoj kancelariji Živković Samardžić.
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Živković Samardžić advising Fifth Quarter Ventures in the procedure of becoming the fourth Alternative Investment Fund in the Republic of Serbia ever
Živković Samardžić, one of Serbia’s leading full-service independent law firms with proven track record and vast experience in the Serbian capital market, advising both investors and startups, has legally advised and provided regulatory and compliance support to Fifth Quarter Ventures (FQV) in the procedure of becoming the Alternative Investment Fund in the Republic of Serbia.
On April 21, 2023, the Securities Commission brought a decision to grant a permit to FQV, which enables FQV to transform into an Alternative Investment Fund Management Company, allowing it to step into the final procedural phase before the Securities Commission for obtaining the vital permit to establish an Alternative Investment Fund in the Republic of Serbia. This is the newest “big thing” in the Serbian capital market, having in mind that FQV will establish the fourth alternative investment fund ever in the Republic of Serbia.
FQV is founded with the idea to be an early-stage VC fund focused on investing in top startups from the Western Balkan. Also, with its experienced founders and proven business model, FQV will help startups that currently outgrow local investors and introduce them to the top foreign VCs. Finally, FQV’s strategy is also directed to the startups run by Serbian and Croatian founders in the diaspora who can benefit from FQV connections, and to the elite US/Canadian startups which have the Balkan presence that seeks help with product building & faster execution, in which case FQV has an active role in team and product building, in order to secure an allocation in a round led by Tier 1 VC from the Silicon Valley.
Živković Samardžić is a legal adviser and continuously supports FQV in all aspects of establishing and developing alternative investment fund in the Republic of Serbia. Živković Samardžić team consists of the Partners Igor Živkovski and Sava Pavlović, and Associate Ana Grebo.
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Legal 500 in its Arbitration Powerlist: CEE 2023 recognizes Miloš Milošević as a leading practitioner in Serbia
For 33 years, The Legal 500 has been analysing the capabilities of law firms across the world, with a comprehensive research programme revised and updated every year to bring the most up-to-date vision of the global legal market. The Legal 500 based on its analysis and research programmes publishes rankings of law firms across the world and their leading lawyers in their designated areas.
One of their most used and read rankings are the ones devoted to the international arbitration, having in mind the competitiveness and constant demand of the global legal market in this area.
In that regard, Legal 500 published the Arbitration Powerlist: CEE 2023, which showcases the leading arbitration practitioners working in Central and Eastern Europe, where arbitration is becoming an increasingly method of dispute resolution, and their practitioners showed an impressive depth of expertise in a variety of sectors and are actively responding to the needs of arbitration users.
In their Arbitration Powerlist: CEE 2023 Legal 500, recognized Miloš Milošević, as a leading practitioner with 27 years of practice in the areas of commercial, civil law and administrative disputes under general court proceeding, commercial courts proceeding, administrative courts proceedings, enforced collection, including enforcement, bankruptcy and liquidation proceedings, mediation, and arbitral proceedings in investment disputes.
Miloš Milošević joined Živković Samardžić in 2010. He graduated at the University of Belgrade Faculty of Law in 1995 and spent 15 years in the judiciary, as a judicial clerk at the Commercial Court in Belgrade and the Supreme Court of Serbia, Judge at the Fourth Municipal Court in Belgrade and a Civil Law Appellate Chamber Judge at the District Court in Belgrade.
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Živković Samardžić Advises on the Sale of Eurobank Direktna to AIK Banka
Serbian banking market continues with consolidation and Živković Samardžić is again on the spot. Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised the shareholders of Eurobank Direktna a.d. Beograd (“Eurobank Direktna”) on the sale of the entire stake of 100% in Eurobank Direktna to AIK Banka a.d. Beograd(“AIK Banka”).
Eurobank Direktna is headquartered in Belgrade and operates through 4 primary segments: Retail Banking, Corporate Banking, Small Business Banking & Digital Banking, and holds a market share of 6% in terms of total assets. It currently employs c. 1,600 employees, operates 98 branches and has a balance sheet size of €2.4bn. Eurobank Direktna is majority owned by Eurobank Holdings (70%) and former Direktna Banka shareholders (30%).
Eurobank Direktna has developed its banking business since entering the market in 2003 as Eurobank EFG Serbia. Following the merger with Direktna Banka, it has become number 8 in the market with market share of 5.5% in assets, loan portfolio of 1.7 billion euro and 1.5 billion euro deposits (as of September 2022). Through a wide network of branches and online platform, Eurobank Direktna provides a high-quality service to its clients.
Thanks to the complementarity of the activities of the two banks, the combined bank would have attained an over 13% market share in total assets, with over 4 billion euro deposits and strong capital base of more than 800 million euros (as of September 2022).
Completion of the transaction is subject to customary approvals by the competent regulatory and supervisory authorities and is expected to take place during the third quarter of 2023.
Živković Samardžić team that acted as local legal counsel to the shareholders of Eurobank Direktna on all aspects of this process consisted of Partners Branislav Živković, Igor Živkovski, Sava Pavlović and Uroš Đorđević.
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Kruna Savović – Honorary member of IJAS (NUNS)
Kruna Savović, Živković Samardžić Technology, Media, and Telecommunications Partner and the Head of Media Litigation is elected as an honorary member of the Independent Association of Journalists of Serbia – IJAS (NUNS).
Honorary members of IJAS (NUNS) are distinguished individuals, proven friends of IJAS, who work in domestic and foreign media organizations, scientific, cultural and sports institutions, non-governmental and governmental organizations and associations, universities, business companies, diplomatic missions, who contribute with their actions achieving the goals of IJAS. Honorary members are appointed by the executive board of IJAS.
Exceptional commitment to work makes Kruna a great lawyer who tries in every way to make society better, a friend who tries to help and understand people and their needs above all. That is why she is an honorary member of the great IJAS (NUNS) society.
Kruna is with Živković Samardžić since 2008. She specializes in Media Law and Intellectual Property. From the very beginning of her professional career, Kruna Savović has actively contributed to the initiatives advocating the struggle for a better society through participation in various humanitarian, cultural, philanthropic and socially-responsible campaigns and projects. Kruna is a trusted advisor to a number of national broadcast, print and on-line media and their associations. She is also an experienced media and intellectual property litigator. During her career, as Head Živković Samardžić Media Litigation practice, she led and participates in media strategy projects and was responsible for the implementation of the cases connected to Technology, Media and Telecommunications.


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Živković Samardžić Appointed as the Legal Advisor to the Republic of Equatorial Guinea
Živković Samardžić has been appointed as the legal advisor to the Republic of Equatorial Guinea relating to the negotiations and conclusion of commercial agreements with Serbian companies for the purchase of goods as well as to providing all additional legal services and consultations required by this country regarding its business operations in Serbia.
Earlier this year the highest state officials of the Republic of Serbia and the Republic of Equatorial Guinea held several meetings during official visits to the countries and announced that the two countries were to sign important agreements on cooperation in different industries. As a result, the two countries raised the level of economic cooperation at the same time achieving benefit from mutual cooperation, exchange of experiences and improvement of economic and trade exchange.
Within that cooperation, numerous commercial agreements for the purchase of food products, household and consumer goods produced by various Serbian companies were concluded the last few days, while it is expected that the agreements which currently are in negotiation process will also be realized this month.
The Republic of Equatorial Guinea is one of the smallest countries on the African continent, located in the Central Region next to the Gulf of Guinea and it is the only Spanish-speaking country in Africa. Despite being one of the smallest countries on the continent, the Republic of Equatorial Guinea is a country in continuous development and with precious natural resources. In the late 1990s, American multinationals discovered significant reserves of crude oil and natural gas, resources that began to contribute to the global energy supply in recent years. In the last decade, the international visibility of the Republic of Equatorial Guinea has grown exponentially and the country is postulated as a pillar of stability and security in the Central African sub-region.
The Živković Samardžić team that provides legal support to the Republic of Equatorial Guinea consists of Partner Igor Živkovski and Associate Teodora Milošević.
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Vesna Živković Authored an Article on Electronic Signatures, Contracts, and Archiving in Serbia in CEE Legal Comparative Guide
Vesna Živković, Živković Samardžić Associate, wrote an article on Electronic Signatures, Contracts, and Archiving in Serbia in CEE Legal Comparative Guide.
In the article, Vesna explains that certain contracts, according to the law must be made in writing: surety contracts, contracts for construction, etc. Contracts lacking the prescribed form shall not have a legal effect.
As far as Serbia is concerned, electronic documents have the same probative power as paper documents. Nonetheless, practice regarding the use of electronic documents in court proceedings is scarce.
Electronic documents and electronic signatures in Serbia are regulated by the Law on Electronic Document, Electronic Identification and Trust Services in Electronic Business (“Official Gazette of the RS”, No 94/2017 and 52/21) and a number of subordinate pieces of legislation governing these issues in more detail. Serbian law does recognize different types of electronic signatures, considering the level of security they provide.
Full text of the article is available here.
The CEE Legal Matters Comparative Legal Guide: TMT 2022 looks at the most important regulations relative to online contracting, digital signatures, and digital archiving for the reader to get a high-level, comprehensive picture of the legal landscape of these critical aspects in the region. As our co-editor, Tamas Bereczki of Provaris explains, “The way countries and jurisdictions regulate digital signatures and digital contracting can be a game changer for the digital economy, the supply chain, and international economic cooperation. Bad or lacking regulation can lead to actual economic detriments by keeping the costs of conducting business higher than in jurisdictions with more well-formulated, well-thought regulations.”
CEE Legal Matters is a print and online publication for and about lawyers interested and working in Europe’s emerging legal markets, featuring news, interviews, analysis, opinion, and more with a mission to be the go-to source of information about lawyers and legal markets in Central and Eastern Europe.
Vesna Živković joined Živković Samardžić in 2009, after supervising a Department for Regulatory Issues Control of Reputation Risk in an international bank. She was a research assistant at the Institute for Comparative Law and served as a Vice Chairperson of the UN Commission on International Trade Law (UNCITRAL) from July 2006 to July 2007. Vesna lectures on Commercial Contracts at the Union University Faculty of Law in Belgrade. She specialises in financial services, electronic commerce and intellectual property. Vesna is a Sworn Court Interpreter for English language.
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Živković Samardžić has Provided Support on the Sale of Arriva Group’s Business in Serbia
Arriva Group, the European passenger transport service provider, has reached an agreement to divest its Danish business “Arriva Danmark A/S” and Serbian business “Arriva Litas d.o.o”, as well as its bus business in Poland “Arriva Bus Transport Polska Sp. z o.o” to Mutares SE & Co. KGaA, an international financial investor. The sale covers the entire Danish business, including the bus, water bus and rail businesses, its franchise in the car-sharing company SHARE NOW and UCplus, a nationwide education centre; the entire Serbian business, which is the second largest private bus operator in Serbia; and the Polish bus business, which operates city-based public transport contracts and regional services. The transaction is expected to be completed towards the end of 2022, subject to customary closing conditions, including approval by the Deutsche Bahn Supervisory Board and the German Federal Ministry for Digital and Transport, as well as antitrust clearance by the respective local authorities.
UK-based Arriva Group is a part of the German Deutsche Bahn AG, one of the world’s leading passenger and logistics companies. Arriva is a leading provider of passenger transport across Europe, employing around 40,000 people and delivering around 1.2 billion passenger journeys across 13 European countries. With buses, trains, coaches, trams, waterbuses, car and bike-sharing systems, as well as on-demand transport solutions, Arriva proudly connects people and communities safely, reliably and sustainably, delivering these services in a better way, every day. The activities of Arriva are divided into four lines of business: UK Bus, UK Trains, The Netherlands and Mainland Europe.
Munich headquartered Mutares SE & Co. KGaA acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. Its goal is to acquire companies with revenues of EUR 100 million to EUR 750 million. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company.
The Živković Samardžić team consisted of Partners Igor Živkovski and Sava Pavlović.
- Published in Deals and Cases
Živković Samardžić Advises TITAN Cementara Kosjerić on Merger with Its Affiliated Company
Živković Samardžić has advised TITAN Cementara Kosjerić, the Serbian subsidiary of TITAN Cement Group, on merger with Stari Silo Company, its affiliated company for development of building projects. As a result of the merger, Stari Silo Company ceased to exist and became part of TITAN Cementara Kosjerić.
TITAN Cement Group is an international, cement and building materials producer aspiring to serve the needs of society, while contributing to sustainable growth with responsibility and integrity. The Group is operating cement plants in 10 countries (USA, Greece, Albania, Bulgaria, North Macedonia, Kosovo, Serbia, Egypt, Turkey and Brazil), with an annual capacity of 27 million metric tons of cement and cementitious materials, and has presence in more than 15 countries. The Group employs about 5,500 people worldwide. The Group’s business activities cover the production, transportation and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials.
TITAN Cementara Kosjerić is part of TITAN Group and the newest cement plant in Serbia. It began its operations in 1976 and very quickly found its place in the market owing to the high quality of cement and professional attitude towards its clients. With the plant’s capacities, producing 750,000 tons of cement per year, TITAN Cementara Kosjerić supplies substantial portions of markets of Serbia and Montenegro.
Živković Samardžić acted as legal adviser to TITAN Cementara Kosjerić on all aspects of the deal, including structuring the transaction and drafting transactional documentation, as well as assisting with the preparation and execution of the closing process. The Živković Samardžić team that has advised TITAN Cementara Kosjerić on merger with Stari Silo Company was led by Partner Igor Živkovski.
- Published in Deals and Cases
Branislav Živković: An Interview with CEE Legal Matters
Branislav Živković a founding partner of Živković Samardžić has recently been interviewed for CEE Legal Matters a print and online publication featuring news, interviews, analysis, and opinion in their “The Buzz” section on growing trend relocations, real estate, and fees in Serbia.
In an interview given Branislav believes that the high levels of migration from Russia and Ukraine have been causing a boom in the real estate sector in Serbia, in a period of an overall legislative slowdown.
Following the elections that were held this spring, no government has been formed yet, Živković points out that the process is still within the legal deadlines, but longer – the technical government is still sitting. Therefore, there are no new laws, no new pieces of legislation, except for urgent decrees and he states that since early spring, legislative activity has essentially stopped.
Branislav states that tens of thousands of Russian citizens now seek to emigrate to Serbia – both individuals and legal entities – as well as a smaller number of Ukrainian nationals, because of their peculiar status. He explains that this has generated huge amounts of work, with many family businesses, tech company employees, and the like. Freelances that worked for international companies have begun relocating to Serbia – as there are strong levels of support for the IT sector and tech companies here.
Finally, Branislav reports that Serbia is “soon to finalize” a free trade agreement with China and he explains that this will impact the market for sure, seeing as how tariffs will go down, and we might see an introduction of preferred rates or cancellation of customs duties to agricultural and other exports.
Branislav’s wide-ranging experience covers mergers and acquisitions, joint ventures, privatizations, acquisition and corporate finance, transactional tax aspects, complex commercial contracts and real estate and project finance. As one of Živković Samardžić managing partners, he coordinates cross-border transactions and international cooperation within the LGP Legal Solutions Network consisting of independent business law firms covering the Southeast European region. IFLR1000 Financial and Corporate 2022 recognized Branislav as Highly Regarded lawyer in M&A, Real Estate Acquisitions and Real Estate Finance.
Full text of this article is available here.
CEE Legal Matters is a print and online publication for and about lawyers interested and working in Europe’s emerging legal markets, featuring news, interviews, analysis, opinion, and more with a mission to be the go-to source of information about lawyers and legal markets in Central and Eastern Europe. You can visit Magazine’s website and subscribe here.
- Published in In the Media