On the 31st of December 2018, the Serbian Business Register Agency implemented the Register of Beneficial Ownership. All resident-companies as well as branch offices and the representative offices of non-resident companies are obliged to report beneficial ownership by the 31st of January 2019.
Registration of data is done by the company/branch office/representative office by entering the information on beneficial owners by:
- Direct or indirect ownership of 25% or more stake/share in the company;
- Prevailing influence on decision making and management process;
- Indirect funding and relevant influence on decision making process;
- Founder/beneficiary/dominant position in trust management if in the company ownership structure there is a trust or other entity under the foreign law where the ownership is not disclosed
The validity of data is confirmed by the electronic signature of the legal representative of the company/branch office/representative office.