According to the International Monetary Fund, in the next 30 years, Serbia could lose as much as a fifth of its domestic workforce. On the other hand, the Serbian economy shows an opposite trend, and its growth creates a need for additional labor. When the domestic labor market cannot meet the demands of employers, this opens the doors for foreign workers. Of course, the national labor market is designed so that domestic citizens have a better position while foreigners face certain (legal) obstacles. In that sense, in this analysis, we raise the question of the legislative treatment of foreigners in […]
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The latest amendments to the Companies Act (“Act“) from 2021 specify the mandatory elements of the headquarters of each enterprise. Each registered office address must contain information related to the city, municipality, street or square, house number, floor, and apartment number. This way, enterprises are obliged to harmonize the address of the headquarters with the Act. The deadline for the harmonization above is November 27, 2022. As businesses must register their headquarters address with the Serbian Business Registers Agency (“Agency“), they should synchronize this data in the appropriate register to include any missing data. The deadline for the Agency […]
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The EU Digital Markets Act (DMA) entered into force on November 1, 2022, and it will start to apply in early 2023, while its “partner in crime,” the Digital Services Act, still awaits its moment in the limelight, announced to ensue in a year. Together they form a single set of new rules which aim to apply across the whole of the EU to create a safer and more open digital space. One may say it’s all about digital, but essentially, it’s all about undistorted competition in digital! A New Digital Era Begins with the DMA! The DMA rocked the tech […]
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We recently entered the finals in four categories for The Lawyer European Awards 2022 and became one of the most nominated law firms in the whole of Europe! As last year’s winner, Gecić Law was nominated for Law firm of the Year: South East Europe, a 150 million strong market, and entered the finals with three of its practice area teams for impressive achievements in competition, corporate and litigation, standing shoulder to shoulder with the crème de la crème of the entire continent. Gecić Law received the most nominations among this year’s contenders across all of Europe – an unprecedented […]
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November 1, 2022, was a big day for the EU! And not only the EU. The EU Digital Markets Act (DMA) finally saw the light of day. As its implementation will start in six months, we need to be ready for all the changes it will introduce in the tech world. Incited by the good old competition case law, the DMA will tackle the concerns that the European Commission (Commission) had in its previous practice. So, on the one hand, there will be loads of new obligations to the tech companies meeting the criteria of being designated as gatekeepers, and on the […]
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Intralinks recently published a report on Environmental, Social and Governance (“ESG “), which looks at ESG and how it gained prominence in European M&A. The main idea of the report is to demonstrate ESG’s impact on the M&A decision-making processes, supported with statistics to depict the impact intensity. The Intralinks survey shows that only 3% of the survey respondents were not concerned about ESG issues during their latest M&A transaction. In comparison, 41% of respondents said that the ESG drove their last transaction, and the remaining 56% stated that the ESG was not the primary motivator for their latest deal, but they considered […]
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Continuing our series on opportunities for investment in Serbia, we discuss the real estate sector. Historically, countries have been reluctant to allow foreigners to acquire real estate. In the past, real estate (primarily lands) symbolized its owners’ power, and today apartments, buildings, houses, properties, mines, and fields have significant worth. Nevertheless, globalization has increased the dynamics of “international” real estate trade. Real estate has thus become an important segment in international investment, both as a secondary part of the project (leasing or even buying space for the investors’ regular business operations) and as the very purpose of the investment (real […]
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The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) signed yesterday in Bali the world’s first bloc-to-bloc Comprehensive Air Transport Agreement (CATA). Most EU member states so far have had bilateral agreements with some of the ASEAN countries, with different scopes and rules. However, very few had such arrangements with all the countries of ASEAN. The new agreement now includes all member states of each region and replaces all existing contracts with a unified framework, connecting more than one billion people. The agreement aims to revitalize air travel and transport between Southeast Asia and Europe, which has […]
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Gecić Law continues to reach new heights year after year, receiving even greater recognition for its passion for innovation, consistent growth, and excellence in the legal profession at the highest level. The coveted The Lawyer European Awards have nominated us for the fifth year in a row including us among Europe’s finest law firms. Only, this year, the firm stands neck-to-neck with global powerhouses the likes of Latham & Watkins, with the most nominations among this year’s contenders across all of Europe – an unprecedented feat any law firm in the region has ever achieved. As last year’s first-ever Law firm of the […]
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Europe is now fit for the digital age as the long-awaited Digital Markets Act (DMA) was published in the Official Journal on October 12. Adopted by the European Parliament in September, the DMA will enter into force on November 1 and start to apply in May next year. The act provides a framework to prevent the most prominent digital companies, the so-called “gatekeepers,” from abusing their market power, ensuring greater competition in digital markets, and sparking more innovation in the industry. The DMA will primarily target the world’s most powerful corporations in the IT industry, commonly referred to as the “Big Five” […]
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