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Serbia: “Ultimate beneficial owners” measures are enacted

Serbia: “Ultimate beneficial owners” measures enacted

A law establishing a central register of “ultimate beneficial owners” was enacted 8 June 2018.


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The measures apply to legal entities and others registered in the Republic of Serbia, including:

  • Companies, other than public joint stock companies
  • Cooperatives
  • Branches of foreign legal entities
  • Certain business associations
  • Foundations, endowments, and institutions
  • Representative offices of foreign companies, associations, foundations, and endowments

There are rules for determining who is the ultimate beneficial owner (for example, a person who indirectly or directly holds 25% or more of the shares or voting rights or who has a dominant influence on the business management and decision-making).


Read a June 2018 report prepared by the KPMG member firm in Serbia

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