Wednesday, Feb 23rd

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Legal framework for doing business

Legal framework for doing business

Recent developments in terms of new business related legislation and overall issues, current projects and announcements point towards a quickening pace of change in the general business environment over the coming months.

Serbian government has been working on introducing a more attractive legislative business environment, with a goal of bringing the legal framework in line with the EU regulations. The Government is also preparing a number of measures, soon to be legally formulated, which should untangle the present difficult liquidity situation that numerous market players are encountering. Below is a small sample list of some of the relevant legislation:

  • Competition Law, generally in compliance with EU requirements, applies to antitrust provisions, including restrictive agreements and abuses of dominant positions.   
  • The Law on Consumer Protection prescribes the fundamental rights and protection of the Consumer’s economic interests.   
  • Law on Foreign Investment calls for equal rights of foreign and domestic investors with long-term goal of creating legal system compatible with EU legislation.    
  • Law on Foreign Trade Transactions stipulates that foreign trade is liberal and without limitations for any company performing foreign and domestic trade operations.   
  • Company Law regulates the set-up of business operations in general accordance with EU legislation and free market practices.

The geographical position makes Serbia unavoidable in terms of traffic. Having borderline with Hungary, Bulgaria and Romania gives possibility of production inside the European Union. At the same time, it’s possible to enjoy all the benefits of working outside the EU, while being able to provide services and transport goods in optimal time frames. Thus, Serbia offers a great transport potential and has an extraordinary potential to become the logistic base of the Southeastern Europe.
Hundreds of foreign firms from different parts of the world, large and small, are successfully operating in Serbia today. Be one of them!