Gecić Law is proud to announce its participation in the latest edition of the Chambers Global Practice Guides: Doing Business In… Our team contributed to the “Trends and Developments” sections for Serbia. Our esteemed partners Bogdan Gecić and Hristina Kosec offered their insights into the jurisdictions dynamic business and regulatory environment. They highlighted key trends, challenges, and opportunities shaping the country’s economic and legal landscapes. The authors highlight Serbia’s rapid growth, driven by information technology, agriculture, and manufacturing. This undoubtedly contributes to its status as one of the most attractive investment destinations globally. In addition, Serbia’s favorable business environment, strategic […]
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Gecić Law proudly upholds its legacy of excellence with exceptional rankings in the esteemed Legal 500 EMEA 2024 guide. It showcases the firm’s dedication to providing outstanding service and the unmatched expertise of its team and individuals. The Competition Practice For an impressive eighth year in a row, Gecić Law’s distinguished Competition practice maintains its Tier 1 status. The practice showcased achievements across EU law, state aid, and international trade. As a result, the team solidified its reputation as a frontrunner in the field. Once again, our Founder and Managing Partner, Bogdan Gecić, joins the distinguished few in the elite EMEA Hall of Fame. […]
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A lot has been said about artificial intelligence (AI). It is reshaping global business and everyday life worldwide and by no means, it is a new industrial revolution. Mankind’s striving for an easier life has led to the creation of a fast-learning, self-aware creature. It shall irreversibly become an unexpected (or perhaps unwanted) member of society. We have witnessed the universality of AI’s application. Here, we are focusing on the use of AI in news media and its potential to shape public opinion. How do Media Use AI? Media widely employ AI to gather news information. It may also filter […]
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In June 2023, the Serbian bid to organize EXPO 2027 prevailed over the United States, Thailand, Spain and Argentina. Belgrade has embraced the concept of “Play for Humanity – Sport and Music for All” for its international exhibition. To realize this vision, Belgrade is committed to constructing a state-of-the-art exhibition center, necessitating substantial investment. What is the EXPO and Why Does it Matter? The Universal Exhibition, commonly known as “EXPO,” is a prestigious global event enabling participating nations to showcase themselves to the world. It also serves as a platform to exhibit cutting-edge technological and scientific advancements, cultural milestones, and […]
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JFE Shoji’s Investment in Serbia Gecić Law is delighted to announce its successful role as the legal counsel supporting JFE Shoji Corporation and its Serbian affiliate (“JFE Shoji”) in a significant greenfield investment in Serbia. This involved the acquisition of a 10-hectare land plot in the prime industrial zone of Indjija. The investor will construct a cutting-edge production plant in this location to produce motor cores. The location will also serve as the headquarters for JFE Shoji’s European operations. The foundation stone laying ceremony for this ambitious Japanese investment took place on March 18, 2024. With an investment of 50 […]
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Gecić Law proudly announces its pivotal role in supporting a significant financial transaction between the European Bank for Reconstruction and Development (EBRD), Enterprise Expansion Fund II (ENEF II) as lenders, and Vega IT. The EBRD and ENEF II have committed to a senior secured loan to support the expansion of Vega IT. Vega IT is a premier Serbian software development company. As the local counsel for the EBRD and ENEF II in this transaction, Gecić Law provided comprehensive legal advice. The team’s involvement spanned the due diligence preparation and negotiation. We also secured the completion of critical finance and security […]
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Instead of Introduction The Court of Justice of the European Union (“CJEU“) opened proceedings on Case C-619/23, Ronos, according to a request for a preliminary ruling by the Administrative Court of Sofia District – Bulgaria (“Court”). The Court requested an interpretation of the scope of powers of the Bulgarian antitrust authority (“CPC”) action in seizing conversations from a private mobile device during dawn raids carried out at premises of undertakings investigated for alleged cartel infringements. This request for a preliminary ruling on how EU law interacts with guarantees of basic human rights established in the Bulgarian Constitution gives the European […]
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Gecić | Law proudly announces that Ivana Stojanović Raišić, a key member of its legal team, has been honored as a 2024 TerraLex Trailblazing Woman. The prestigious recognition is awarded by TerraLex, an elite global network of independent law firms, as part of the celebrations of Women’s History Month and International Women’s Day. The honor celebrates remarkable individuals who have impacted their firms profoundly both professionally and personally and paved the way for future generations of women in the legal profession. Gecić Law is a proud exclusive member of TerraLex for the jurisdictuions of Serbia and Montenegro. Ivana’s selection as […]
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Autonomous vehicles and driving technologies, characterized by their complexity, are at the forefront of modern transportation advancements. In our article 5G CAM: Revolutionizing Cross-Border Mobility, we highlighted the pivotal role of CAM technology in facilitating vehicle-to-vehicle and vehicle-to-infrastructure communication, a prerequisite for autonomous driving. These technologies are in rapid development worldwide due to their potential benefits. These include enhancing road safety, alleviating traffic congestion, and reducing CO2 emissions. Autonomous driving encompasses various developmental directions, relying on sensors to collect environmental information. Complementary devices, such as cameras and GPS, are also integral to data collection. A sophisticated computer unit then processes […]
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During its last session on October 26, 2023, the National Assembly adopted amendments to the Public Procurement Act. The most significant changes relate to: introducing quality rather than price as a key criterion for selecting certain services/goods, introducing principles of environmental protection in the awarding of public procurement and specifying the initiation of misdemeanor proceedings in case of illegal spending of public procurement funds. The amendments will be applicable from January 1, 2024. At the outset, it is worth mentioning that the amendments introduce the principle of environmental protection. When considering the procurement of goods, services, or works, the contracting […]
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Bogdan Gecić, the Founding Partner of Gecić Law, provided insights today for Euronews Serbia’s primary news program regarding the significant changes coming up in the environmental law and international trade, driven by the European Union’s pioneering Carbon Border Adjustment Mechanism (CBAM) regulation. The CBAM regulation will begin to apply on October 1, 2023. Bogdan shared his views on the steps businesses that exporters should take to prepare. This applies to carbon-intensive sectors, including iron and steel, electricity, fertilizers, cement, hydrogen, and aluminum. In his guest appearance on Euronews, Bogdan delved into the genesis and rationale behind this unique regulation. The […]
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Serbia is opening its doors wider to foreign workers due to several factors. The qualified labor shortages, technological and economic growth, and the effects of globalization have made it essential to simplify and facilitate the residence and work procedures for foreigners in Serbia. Recognizing this need, last winter Serbia began drafting amendments to three foundational immigration laws: the Foreigners Act, the Foreigners’ Employment Act, and the Citizenship Act. Two of these, he amendments to the Foreigners Act and the Foreigners’ Employment Act, have been adopted by the National Assembly. These changes aim to provide a more streamlined and appealing environment […]
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Our colleagues and senior associates Nemanja Sladaković and Miloš Petaković presented at the AgTech Supercluster Meet-up event at the ICT Hub yesterday two new publications they helped create as part of Gecić Law’s collaboration on a project led by the Serbian Chamber of Commerce and financially supported by the GIZ project for the development of the private sector in Serbia, part of the German-Serbian development cooperation. The two guides provide valuable insights to help startups grow and succeed in the highly competitive IT industry. The first publication is a practical guide focusing on legal aspects that IT startups need to […]
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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 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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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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As part of our series on investment opportunities in Serbia, this time we delve into the pharmaceutical industry. The coronavirus pandemic demonstrated that Serbia has significant potential in the sector that is still running strong. Unlike other industries, the pharmaceutical industry has been showing unprecedented growth. The high demand for medicines, supplements, basic hygiene products and disinfectants, and other medications has shown that there is a strong need for businesses and institutions that will meet this demand. In that sense, Serbia’s pharmaceutical industry showed high efficiency and managed to establish and maintain regular supply, stable production, and unhindered imports as […]
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The Council of the EU agreed on Tuesday to apply its revised enlargement methodology in the accession negotiations of Serbia and Montenegro. The new rules within the accession process aim to increase contacts at the ministerial level and promote fundamental reforms in the two countries. Additionally, the new enlargement methodology has the goal of improving the predictability of the accession process. Furthermore, it reorganizes chapters into clusters to speed up negotiations between the states with the EU. The decision comes after the European Commission issued a Communication in February which addressed the need to improve the accession process. The new […]
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At Gecić Law, we proudly look back at 2020 and remember it as a year of significant achievement. Some of our accomplishments singled out in this review testify not only to the ability of our team to quickly adapt to radically different circumstances, but to see them as an opportunity to affirm our core values, to build on them and to grow. We rose to the challenge, learned and developed, and in the process, we helped our employees, clients, and business partners gain the strength to overcome the uncertainty and grow together with us. These are the highlights of our […]
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Diplomacy & Commerce magazine, a syndication of London’s The Economist magazine for Serbia, prepared a special InFocus supplement as part of its February 2021 issue, with the aim of providing the readers a closer insight into the development of bilateral relations and successful cooperation between Serbia and the United Arab Emirates. Bogdan Gecic, Managing Partner at Gecic Law, a founding and exclusive member of the UAE Serbia Business club since 2019, gave an interview, which can be read in its entirety below. As an industry, the legal profession has been changing significantly. We have always believed there is a lot […]
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Gecić Law has successfully advised the Republic of Serbia and EPS, one of the largest energy companies in the region, in a probe led by Energy Community Secretariat regarding alleged State support for the multi-million-euro Kolubara B project. On Monday, June 25, 2018, the Energy Community Secretariat announced the parties reached an amicable solution bringing the two-year long case to an end. The Kolubara B power plant project will enable EPS to add 700 MW of electricity annually, constituting the most important investment in the Serbian energy infrastructure in the last four decades. The ruling not only confirmed our team’s […]
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Following almost 12 months of meticulous research, grueling screening processes, and a series of elaborate meetings and interviews, Gecić Law is excited to announce it has become the exclusive Serbian partner of TerraLex, the world’s leading international legal network and member of The Elite (Band 1) in the Chambers & Partners leading law firm networks global-wide rankings. We are incredibly grateful that TerraLex recognized our quality, reputation, international experience, and dedication to excellence in law practice. This extensive network spans over 100 countries worldwide and provides full-service assistance to clients through its 17 practice groups. As part of the TerraLex global […]
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During the last ten days of May 2017, Serbian competition authority has hastily opened an unprecedented number of investigations. Simultaneously, the authority announced a push for a complete revamp of the competition act. Reviewing these developments through the lens of the New Administrative Act, which came into force on 1 June 2017, a strong argument can be made that behind these actions is a desire to circumvent the robust human rights safeguards introduced by the New Administrative Act and guaranteed under the ECHR and the Serbian Constitution. During the last ten days of May, the Commission for Protection of Competition of […]
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The Serbian 2009 Protection of Competition Act (as amended in 2013) (the Act) provides for rather low merger control thresholds, compared both to EU law and countries in the region. Thresholds set this low can (and usually do) result in excessive merger control which eventually brings more harm than good to market competition. In order to put an end to this, a change in decisional practice and/or legislative change in regards to this important aspect of merger control is required. The Act provides for rather low merger control thresholds, compared both to EU law and countries in the region. Namely, […]
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During the first quarter of 2017, the Serbian Commission for Protection of Competition of the Republic of Serbia handed down a number of decisions in different areas of competition protection and recognized the necessity of conducting analyses of vital sectors such as telecoms, oil products and oil-derivatives: Restrictive agreements. The Commission decided to investigate a close collaboration between two large players on the oil products market in Serbia. On March 13, 2017, the Commission fined two direct competitors – Victoriaoil and Vital – for entering into a mutual cooperation agreement under which Vital agreed to outsource production and packaging of […]
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Serbian Commission for Protection of Competition (the “Commission“) has fined EPS Distribution, a sole electric power distribution system operator, for the abuse of dominant position in the amount of 330 million RSD (cca EUR 2.7 million). This is the highest antitrust fine imposed by the Serbian regulator. Having established the EPS Distribution indeed held dominant position, the Commission found several abuses of dominant position and in particular: As a result of non-transparent business policy, the company EPS Supply was placed in an advantageous position compared to competitors. Subject behavior was reflected in (i) the fact that unlike other suppliers, only EPS […]
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On 29 February 2016, the Serbian Parliament adopted the new Act on General Administrative Procedure (the Act), which came into effect on 9 March 2016 and will be enforced as of 1 June 2017, save for certain provisions which will come into effect on 7 June 2016. This is a completely new piece of legislation which will bring significant changes in the field of domestic administrative law. Therefore, a short summary of the most significant provisions of the Act is provided hereafter. The scope of the Act has been significantly extended so as to govern the actions of authorities as […]
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On 11 February 2016, the Serbian Commission for the Protection of Competition (the “Competition Commission”) published on its official website the Guidance Concerning Requests for Individual Exemption (the “Guidance”). The overall message the Guidance sends can be seen as a warning that Competition Commission will no longer tolerate delays in notification of restrictive agreements – the deadline for such notification is immediately, otherwise annulment and fines may be incurred. Namely, the Competition Commission, having in mind frequently asked questions in its everyday practice, concluded that it should provide more detailed information regarding the notifications of restrictive agreements. In particular, as stated […]
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A race to the bottom is a socio-economic phrase used to describe a situation in which countries or companies try to compete in order to attract and retain economic activity and the latest data from the Center for Economic Analysis (CEA) in Macedonia suggests that the country is pushing the envelope on its regional counterparts. CEA recently published that seven companies doing business within Macedonian technological industrial development zones have have been granted a total of 56 million euros in state aid. In certain cases, the state aid granted amounted up to 47% of overall value of the investment. Vesna Garvanlieva, CEA […]
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On 29 December 2015 Serbian Parliament amendments to the Agricultural Land Act (the “Act”) and with the changes effective as of 7 January 2016. The amendments primarily focus on introducing new ways in which to manage and dispose of state-owned agricultural land. The key changes are: revision of the conditions for exercising the right of first refusal, establishment of the right of priority lease of agricultural land, modifications regarding lease and use rights, use without reimbursement, and disposal of state-owned agricultural land. 1. The right of first refusal can be exercised as part of the specific procedure, which local self […]
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We are very pleased to announce that Gecić Law contributed the first-ever Serbia chapter for The International Comparative Legal Guides to Cartels & Leniency. The publication comes at a defining moment in terms of antitrust enforcement in Serbia as the Commission for Protection of Competition (the “Competition Commission”) conducted a number of dawn raids in two ongoing investigations in 2015. This was the first time the Competition Commission invoked such investigative powers since it was established in 2006. We have already published a short guide on dawn raids, available here, in the light of the aforementioned developments, and a standalone piece on […]
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The Commission for Protection of Competition (the “Commission”) opened an ex officio procedure against Philip Morris Services (PM), British American Tobacco South East Europe (BAT), JT International, Imperial Tobacco SCG, TDR1, and Monus, as announced on 1 December 2015.2 This followed two dawn raids against PM and BAT. As indicated in the decision3, the Commission suspects that undertakings involved concerted in order to align their pricing policies for factory manufactured cigarettes, thereby violating Article 10 of the Competition Act (a provision prohibiting restrictive agreements, and mirroring, to considerable extent, Article 101(1) of Treaty on Functioning of the EU – TFEU). This is the first […]
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In line with the action plan included in the non-performing loan resolution strategy (“NPL Strategy”), the Serbian Parliament passed amendments to the Voluntary Financial Restructuring Act (“the Act”) on 23 October 2015. The law entered into force on 4 November 2015 and will be enforced as of 2 February 2016. Pending financial restructurings will continue in line with the provisions of the Act. The changes the Act introduces may not be monumental, but legislators expect they will contribute to developing a more favorable economic environment in the country. It remains to be seen how the Act is going to be […]
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We are pleased to announce that our partner Bogdan Gecić together with Dr. Tatjana Jovanić, an associate professor at the University of Belgrade Faculty of Law, co-authored the Serbian chapter for Legal Aspects of Doing Business in Europe – Second Edition. The chapter provides a comprehensive overview of most important legal aspects for both domestic and foreign investors and businesses in Serbia. The chapter provides an in-depth analysis of the following topics: Enterprises: Establishment, Acquisition & Bankruptcy Customs Regulation Investment Incentives and Currency Regulation Competition and Market Regulation Intellectual Property Employment Banking The edition is published by Juris Publishing, Inc., a full-service […]
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As of July 28, 2015, a relatively new piece of real estate legislation, regulating conversion of right of use into ownership right on construction land, came into force (the “Conversion Act”). The Conversion Act creates possibility for certain, strictly itemized entities (e.g. privatized entities, holders of right of use on the land previously acquired for specific development, sport organizations, public enterprises, entities subject to bilateral succession treaties) to convert right of use into ownership right in exchange for compensation fee payment. Such fee equals the market value of the land, providing that holders are registered with the Real Estate Cadaster […]
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The purpose of this brief is to highlight the consequences of the unilateral decision by the state of Croatia, as a member of the European Union, to close its borders for transport coming from Serbia between 17 and 25 September 2015 and to emphasize potential breaches of legal principles the EU has been founded on. We take into consideration the multitude of acts, treaties and agreements which constitute legal sources of the European Union, as well as precedents set by the highest court of the EU, and explore potential avenues for legal redress for those whose interests were harmed by […]
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This Short Guide provides guidance on how to ensure an effective response to an unannounced inspection (known as a “dawn raid”) of the Commission for Protection of Competition of the Republic of Serbia (further Competition Commission). Topics covered include: What to do at the beginning of a dawn raid Managing an ongoing dawn raid What to do at the end of a dawn raid Do’s and Don’ts at each stage This Short Guide will consider the key practical points and legal issues to bear in mind when facing a dawn raid. It should be used to assist your company in providing […]
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On July 7, 2015, the long awaited amendments to Serbia’s 2005 Mortgage Act have been adopted. The amendments brought several important changes, primarily aimed at increasing the efficacy of the foreclosure proceedings, but also at eliminating some provisions shown to be obsolete. The following is a brief overview of the aforementioned key amendments. In terms of mortgage creation, one rather simple improvement is that the person having the direct possession of the real estate is no longer required to give its written statement agreeing with establishing the mortgage over the respective real estate. This should make the procedure of creating […]
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According to the data provided by the Serbian Privatization Agency (as of September 21, 2015), there are currently 357 companies involved in the process of privatization. On the other hand, the Privatization Act requires for the privatization process to be completed before December 31, 2015. Save for 188 companies, for which the Government already adopted an action plan for the commencement of bankruptcy proceedings (due to no productivity, no interests from potential investors and unsustainable financial performance), it remains to be seen how many companies will actually find a genuine buyer, and thus, avoid bankruptcy proceedings before the December deadline. Hence, while awaiting […]
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