New law on central registry of beneficial owners
The Serbian Business Registers Agency has reminded registered entities of their obligation to align their records with the provisions of the new Law on the Central Register of Beneficial Owners. All entities that previously recorded beneficial owners under prior regulations must update their data no later than December 1, 2025, i.e., within 60 days from the law’s entry into force.
Key Provisions of the New Law
The law explicitly requires that, when determining a beneficial owner, the documents supporting the owner’s identification must also be uploaded. In practice, this means that registered entities must:
Review all criteria for determining a beneficial owner under Article 3 of the law,
Record or confirm previously registered beneficial owners, and
Upload supporting documents that validate the identity and status of the beneficial owner.
Certain exceptions are set out in Article 4 of the law, including:
Entities where the sole member is the Republic of Serbia, an autonomous province, or a local government unit,
Entities whose sole members are public enterprises or the entities mentioned above,
Entities undergoing bankruptcy or compulsory liquidation,
Funds or equity in registered entities where the state or its bodies hold ownership,
Share capital or registers of shares and stakes within the ownership structure of a registered entity.
Where to Find More Information
The Business Registers Agency provides full information on its official website, in the Central Register of Beneficial Owners section, including:
A search function for registered beneficial owners,
A list of registered entities that have not yet recorded their beneficial owners.
Additionally, the Ministry of Economy has prepared a comprehensive guide for registering a beneficial owner in the Central Register, as well as a visual step-by-step guide for entering beneficial owner data into the application, making the process simpler and more accurate.
Conclusion
Compliance with the new Law on the Central Register of Beneficial Owners is a crucial step for all registered entities in Serbia. Timely updating of records not only ensures legal compliance but also promotes business transparency and reliable documentation of ownership structures.
