As anticipated for some time in the previous months, while having been agreed upon between the EU institutions, the Foreign Subsidies Regulation (Regulation) finally saw the light of day on January 12, 2023. Its application will commence on July 12, 2023. The Regulation offers new tools for the European Commission (Commission) to investigate financial contributions from non-EU countries to companies operating in the EU to prevent distortions in the internal market. This specific State aid regime provides for an extended application of EU rules and the Commission’s competencies beyond the EU borders. One of the notable features is that the […]
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Bogdan Gecić, Founding Partner at Gecić Law, was quoted in Forbes, the leading global business publication, in an article titled “9 Effective Ways to Be Proactive About Customer Service”. Bogdan joined a panel of experts and shared his perspective on how to manage customer service effectively. “Understanding the client’s business deeply and thinking of their immediate needs ahead of time is essential. One must build a culture focused on adding value and finding solutions to issues beyond the obvious. It would be best if you always walked the walk, fulfilling your promises with conviction. Those are elements of winning customer […]
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At the beginning of last year, the Electronic Invoicing Act (“Act“) was passed, which entered into force on May 7, 2021. Since the Act brought significant changes to the Serbian economy, the application of some provisions of the Act is postponed, so the latest set of provisions will apply from January 1, 2023. It is when VAT payers must start issuing electronic invoices in all mutual transactions with other VAT payers from the private sector and transactions with public sector entities. Even in the very first stage of this Act, Gecić Law gave an insight into which novelties we can expect. The principal […]
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The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”). After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized. What are the implications for non-EU countries? EU’s Climate Action Recognizing the threats of climate change, the European Union adopted a range of climate laws, which includes the ETS and the CBAM, as part of the revolutionary “Fit for 55” legislative package. In contrast to the […]
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The fifth edition of the “Talents together” conference was held yesterday in the Palace of Serbia, organized by the Returning Point program. The one-day conference, titled “Back to the future,” is held annually to establish and nurture connections between talents who study and work abroad and those who live and work in Serbia, as well as support the return members of the diaspora to Serbia. The conference was attended by more than 300 students, scientists, businesspeople, talented individuals from the diaspora, and representatives of diaspora engagement programs and organizations. The meeting was opened by the President of the Government of […]
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The end of the current year and the beginning of the new year bring changes in the form of a fee hike applicable to all legal entities covered by the Business Register Agency (“BRA“). The November Decision on Registration Fees and Other Services brought by the BRA of the Republic of Serbia increased fees for almost all services provided by the Agency (“Decision“). Among others, the Agency changed fees for registration of incorporation, data changes, registration of other data, and deletion of data. This change is of great importance to anyone planning any corporate changes, bearing in mind that the […]
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The Judgment of the European Court of Justice (“ECJ“) from November this year raised the issue of compatibility of proclaimed fundamental human rights with public registers of ultimate beneficial owners available to all interested parties (“Judgment“). According to the Fourth Anti-Money Laundering and Terrorist Financing Directive (the “Fourth AML Directive“), all European Union member states were obliged to make public the registers of beneficial owners of companies operating in their countries so that they can be accessed by any person who has a “legitimate interest.” Accordingly, in 2019, Luxembourg passed a law confirming this directive. It established a register of ultimate […]
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The European Commission (Commission) continues to work on implementing the Digital Markets Act (DMA). On December 9, 2022, the Commission published a draft regulation on implementing the DMA and annexes. Public consultations are currently underway until January 6, 2023. The Commission would like to consider the input of different publics and take on board their suggestions, comments, and proposals when finalizing this draft regulation. Feedback received will be published on the Commission’s website and must adhere to the rules for input and suggestions. To participate in the public consultation process, interested parties must register. The regulation aims to ensure fair, efficient, and complete […]
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Gecić Law is proud to announce the appointment of its Founding Partner Bogdan Gecić to the Board of Directors of the UAE and Serbia Business Club. The United Arab Emirates and Serbia Business Club announced that it had elected Bogdan Gecić to take on this important role in the prestigious organization at its annual Assembly held last week. The United Arab Emirates and Serbia Business Club was established in 2019 on the initiative of the UAE Embassy in Serbia and the most reputable companies from the UAE and Serbia. Gecić Law was among the founding members of the organization. The UAE and Serbia Business […]
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Our Founding Partner, Bogdan Gecić, took part in a webinar organized by the preeminent Israeli law firm Shibolet titled „The Effect of New EU Regulation on Israeli and Global Trade.“ The audience, primarily Israeli businesses in diverse industries, had the opportunity to hear from leading experts in both ESG and EU law and international trade about how the EU’s new ESG regulation may affect trade relations with the EU and what they can do to prepare. Galit Ofer, Partner at Shibolet, introduced the panel and provided an overview of the ESG agenda and the significance of EU-Israel trade relations. She […]
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