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September, 2021

Formal Procedure Against Company MAT – Real Estate

Another Gun-Jumping Investigation in Serbia

On 6 September 2021, the Competition Commission (the “Commission”) has initiated a formal procedure against company MAT – Real Estate for potential gun-jumping. The transaction concerned involves the acquisition of company Radijator d.o.o., a distributor of plumbing and heating equipment. The Commission initiated the investigation following the publication in the Serbian Business Registers’ Agency on […]

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September, 2021

Karanović & Partners Update

Karanović & Partners Donated First Silos Murals to This Part of Europe

We are proud to say we donated two murals to Belgrade! And to Europe as well since they will be the first painted silos murals in this part of the world. Both murals are 15 meters tall and 10 meters wide (150m2 total). Painted on the large concrete silos at “Silosi Beograd” a place known […]

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September, 2021

Legislation Update: Serbia

New Consumer Protection Law: “Not great, not terrible”

The Serbian Parliament has just enacted a new Consumer Protection Law (the “Law”), which is to become applicable on 20 December 2021, following a three-month transitional period. The key changes focus on ensuring better protection and enforcement of consumer’s rights in practice, by fine-tuning and tightening some of the provisions that already existed under the […]

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September, 2021

Acquistion of 74% of shares in Diverto

Acquistion of Diverto by Generali Growth Equity Fund

Generali growth Equity Fund (GGEF), managed by Generali Investments Slovenia, closed the acquisition of 74% of shares in Diverto d.o.o. Diverto, founded in 2007, is a cyber security company based in Zagreb and among the first companies in this region to work with information security. Some of the services they offer are preventing security threats […]

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September, 2021

Data Protection Update: EU/Serbia

New EU Standard Contractual Clauses to become mandatory in two weeks

Although it may sound a bit overdramatic to open with, it seems safe to say that GDPR is notorious for its restrictions on transfers of personal data to “third countries” – the ones outside the EEA that are not considered to provide adequate data protection (such as the United States, China, or Serbia). Amongst several […]

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September, 2021

First Conference Organised by the Renewable Energy Sources Association of Serbia

Karanović & Partners to Moderate a Panel on RES Conference

Karanović & Partners will take part in the first conference organised by the Renewable Energy Sources Association of Serbia on September 15 in Belgrade. Our Partner, Petar Mitrović, who leads the regional industrial group Energy and Natural Resources, will moderate a banking financial panel. Alongside representatives of EBRD, IFC, Erste Bank, and UniCredit, he will […]

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September, 2021

EU's Rules on Combating Money Laundering and Financing of Terrorism

EU Intends to Create a new AML Authority and Extend AML Rules to the Entire Crypto Sector

On 20 July 2021, the European Commission presented an ambitious package of legislative proposals to strengthen the EU’s rules on combating money laundering and financing of terrorism (AML/CFT). The package also includes a proposal for the creation of a new EU authority to fight AML/CFT, tasked also with overseeing the transactions with cryptocurrencies. The aim is […]

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September, 2021

Closing of Kupari Resort Project

Acquisition Of Joint Venture Company in Dubrovnik

The Board of Directors of Hotel Properties Limited (“HPL” and together with its subsidiaries, the “HPL Group”) announced that HPL (Croatia) Limited (“HPL Croatia”), a wholly-owned sub-subsidiary of HPL, has entered into an Agreement for Sale and Purchase with Avenue Investments & Asset Management Ltd for the acquisition of one share with a nominal value […]

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August, 2021

New Law on Personal Data Protection in North Macedonia

“Additional period” for ensuring Data Protection Compliance in North Macedonia

Data controllers and data processors had until 24 August 2021 to align with the new Law on Personal Data Protection in North Macedonia (“Law”), which introduced the GDPR in the local legislation at the beginning of 2020. Non-compliance with the new obligations for personal data protection can lead to severe penalties, such as fines of […]

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August, 2021

Law on Financial Support of Investments has undergone several amendments

North Macedonia: New Amendments to the Law on Financial Support of Investments

In August 2021, the Law on Financial Support of Investments (“Law”) in North Macedonia has undergone several amendments. Changes are focused on easing the conditions for application, affecting the balanced regional development, and speeding up the procedures for payment of the granted funds. These amendments expand the types of financial support granted for technological development […]

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August, 2021

The Directive aims to set out the minimum Union standard of protection

The Croatian Act on the Prohibition of Unfair Trading Practices in the Food Supply Chain aligned with EU rules

The amendments of the Act on the Prohibition of Unfair Trading Practices in the Food Supply Chain[1] (the “Amended Act”) shall enter into force on 1 September 2021, with a few exceptions. The main reason for adopting these amendments was transposition of the Directive (EU) 2019/633 of the European Parliament and of the Council of […]

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August, 2021

Labor Law amendments concerning the conditions for retirement

North Macedonia: Amendments in the labour legislation

During the summer, the Assembly in North Macedonia adopted relevant amendments to the Labour Law concerning the conditions for retirement. According to the estimations by the proposers of the amendment, around 6000 employees from the public and the private sector already reached 64 years of age by the end of 2020. Namely, with the amendment […]

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August, 2021

Macedonian Assembly adopted new amendments

North Macedonia: Latest Amendments to the Law on Citizenship

The Macedonian Assembly recently adopted new amendments to the Law on Citizenship (1992) with the goal to resolve the statelessness issue in the country that has not been addressed since the country’s independence. The amendments temporary introduce an extraordinary legal basis to acquire citizenship of North Macedonia by virtue of law for citizens of another […]

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August, 2021

Pro Bono Legal Support to GRUBB

PRO BONO – Karanovic & Partners Allies with GRUBB on Empowering Young Roma Women and Men

GRUBB FORWARD (GRUBB) is an organization founded and registered in the UK in 2006. GRUBB stands for Gypsy Roma Urban Balkan Beats. It runs educational and artistic programs, working predominantly in Serbia with Roma children and young people.  Thanks to GRUBB, young Roma are given the possibility to make good use of many otherwise expensive […]

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August, 2021

Global Recognition of our Competition Lawyers for Four Consecutive Years

Who’s Who Once More Names Lawyers from Karanović & Partners as World’s Leading Experts

We feel very proud to announce that once more our Competition team has been recognized by Who’s Who Legal: Competition as one of the leading Serbian competition lawyers. Since 2018, our Senior Partner Rastko Petaković, Partner Bojan Vučković and Senior Associate Bojana Miljanović are standing side by side among other world leading competition lawyers, proving […]

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July, 2021

IFLR 1000 Rankings Announced

Karanovic & Partners Ranked once again by the IFLR 1000 as Top Tier Legal Practice

Karanovic & Partners has been recognized once again as a top-tier law firm in the latest IFLR 1000 ranking of leading legal practices. Once again, IFLR 1000 has ranked Karanovic & Partners and the cooperating lawyers as Tier 1 in the Financial and Corporate and Project Development categories. As in the previous ranking, Senior Partners […]

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July, 2021

New Legislation in Serbia

New Law on Electronic Invoicing

The Law on Electronic Invoicing entered into force on 7 May 2021 (“Official Gazette of the RS“, no. 44/2021). It obliges public and business entities to use the system of electronic invoices for issuing, sending, receiving and storing electronic invoices. On July 9 2021, the government adopted a set of bylaws necessary to implement the […]

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July, 2021

Karanovic & Partners advises on a new Healthcare Partnership

Bel Medic joins Acibadem Healthcare Group

Karanovic & Partners has advised Dr Jasmina Knežević and Mr Milan Knežević, the founders of Bel Medic, on their agreement to sell 70% share in Bel Medic and to partner up with Acibadem Healthcare Group. Bel Medic, founded in 1995 is a leading high-quality private healthcare provider in Serbia, operating in Belgrade. Acıbadem Healthcare Group […]

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July, 2021

Property Tax Update - North Macedonia

North Macedonia: Latest Amendments to the Property Taxes Legislation

The Assembly in North Macedonia adopted relevant amendments to the Law on Property Taxes, aiming to harmonize the legislation with the applicable Law on Misdemeanours from one side, as well as to make efforts and introduce more just property taxation on the other. The basic property tax rates remain within the legal framework, i.e. they […]

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July, 2021

Supporting International Legal Expert Team Engaged by EBRD in Azerbaijan

Karanovic & Partners to Advise on Improvement of Framework for Renewables

Our Partner Petar Mitrović will be a part of an international team of experts contracted by the EBRD to support the authorities in Azerbaijan in the implementation of an enabling policy framework for small-scale renewable energy projects.   * Partner refers to Independent Attorney at Law in cooperation with Karanovic & Partners

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2021