Banking & Finance Update
GGF Provides a New EUR 50 Million Loan to UniCredit Bank Serbia for Supporting Renewable Energy Projects
We are pleased to announce that Karanovic & Partners supported the Green for Growth Fund (GGF) in the new strategic loan to UniCredit Bank Serbia. The EUR 50 million facility will be used to finance utility-scale renewable energy projects in Serbia with a focus on solar and wind. GGF stated that this initiative marks a […]
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Arbitration event with VIAC and CMS
Arbitration Matinée for Legal Experts Held in Belgrade
Karanović & Partners hosted another successful event for legal professionals interested in arbitration and dispute resolution. Arbitration Matinée, aimed at in-house legal counsels, executives, and other legal professionals, was held on 22 February in Belgrade and was attended by more than 60 participants who had a unique chance to gain direct insight into the arbitration […]
Read more Karanovic Partners and ELG joint success
Energy Law Group Ranked as Band 1 Network by Chambers Global 2024
Energy Law Group is ranked as Band 1 legal network in Projects & Energy Europe-wide by Chambers Global 2024. Karanovic & Partners legal practice is active participant of ELG for years, covering seven jurisdictions with its cooperating law offices. Energy Law Group (ELG) is the most extensive network of legal experts in energy, mining and […]
Read more Legislation Update: Albania
Amendments to Law on Strategic Investments: Deadline for Applications Extended until December 2027
The Law no. 55/2015 “For strategic investments in the Republic of Albania”, determines the procedures and rules applied by state bodies for the examination, approval, and support by the Albanian government of strategic investments in Albania, both domestic and foreign. The deadline for obtaining ‘Strategic Investment’ status, after being postponed several times, expired on 31 […]
Read more Chambers and Partners Global Rankings Update
Karanovic & Partners Ranked Among Top-Tier Law Firms in the Chambers Global Guide for 2024
We are proud to announce that Karanovic & Partners is once again listed as a top-ranked legal practice in the latest Chambers Global Guide ranking. Karanovic & Partners legal practices and its cooperating lawyers from Serbia and North Macedonia have been ranked as Band 1, Bosnia and Herzegovina and Montenegro have been ranked as Band […]
Read more Legislation Update: North Macedonia
News from North Macedonia: President decided against signing the Proclamation on the Amendments of the Law on Games of Chance
On 13 February 2024, the President of North Macedonia (“President”) announced that he decided against signing the Proclamation for the Promulgation of the Law on Amending and Supplementing the Law on Games of Chance and Entertainment Games (“Proclamation”), which the Assembly of North Macedonia (“Assembly”) adopted at the session held on 7 February 2024. The […]
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AI, Big Data and Privacy: (Fr)enemies?
Once considered a dystopian concept, artificial intelligence and big data swiftly settled down in everyday lives of many. As all great technological developments always come hand in hand with significant legislative changes, or at least attempts thereof, this case is no exception. Innovation typically tends to collide with concerns, leading to intense talks and negotiations […]
Read more Navigating FX Reportings in Serbia
Reporting on FX Operations in Serbia: Common Mistakes Leading to Misdemeanour Liability
Under the Serbian Law on Foreign Exchange Operations and its accompanying bylaws, Serbian residents have various reporting obligations towards the National Bank of Serbia (“NBS”), which is competent for controlling foreign exchange (“FX”) operations of residents and non-residents. It is not rare in practice that companies operating in Serbia are not aware of (all) such […]
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Enforcement Activities of the Largest Competition Regulators in AI
Effective enforcement of competition rules in the AI world is on the horizon. Competition regulators around the world are closely monitoring the advancement of AI and the competitive landscape across various facets of AI. The European Union has invested significant efforts in regulating AI and creating the landmark EU AI Act. The relevant institutions have […]
Read more Legislation Update: Slovenia
Changes of the VALUE ADDED TAX ACT (ZDDV-1) in Slovenia from 1 January 2024
In a recent update to the VAT Act in Slovenia, notable amendments have been introduced, particularly focusing on services in the public interest. Article 42(1)(5) of the VAT Act has changed, emphasizing VAT exemptions exclusively for services provided within activities deemed in the public interest. The amendment concerns exempt services in the public interest, as […]
Read more Legislation Update: Albania
Albania Implementing New Income Tax Law
Albania has officially implemented law no. 29/2023, dated 30.03.2023 “On Income Tax”, effective starting from 1 January 2024; repealing and replacing law no. 8438, dated 28.12.1998 “On Income Tax”, as amended. Despite successive amendments over the years, law no. 8438 is deemed outdated and inadequate in addressing the contemporary principles and methodologies associated with personal […]
Read more Balkan Experts on Green Agenda
Karanović & Partners at the Balkan Solar Summit 2024
Balkan Solar Summit 2024, one of the leading conferences in the Balkans, dedicated to the promotion of green energy and environmental protection, took place in Banja Luka on 8 and 9 February. It was aimed at connecting key industry players, and business and political leaders to share their visions and experiences. The event was opened […]
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Competition for AI Inputs and Resources
The transformative potential of generative AI extends across various industries, reshaping the way we live and work. These changes will unfold rapidly, exerting a significant impact on competition and consumers. Consequently, there is a pressing need to proactively monitor and regulate these changes from the outset, employing the most effective regulatory frameworks. The development of […]
Read more Legislation Update in North Macedonia
Significant Amendments to the Law on Games of Chance and Entertainment Games Adopted in North Macedonia
On 7 February 2024, the Assembly of North Macedonia adopted a sizeable number of amendments to the Law on Games of Chance and Entertainment Games (“Law”). One of the key amendments of the Law relates to all venues which host gambling activities such as betting shops, slot machine clubs, indoor raffles, and electronic games, which […]
Read more Tax News: Montenegro
Montenegro Adopts Amendments on the Law on Corporate Income Tax (CIT Law)
On 29 December 2023, the National Assembly of Montenegro adopted amendments to the CIT Law (Amendments). Amendments came into force on 1 January 2024. These Amendments bring the Montenegrin tax framework in line with EU tax legislation, particularly focusing on the EU Council’s Directive 2009/133/EC, which outlines a unified taxation system applicable to mergers, divisions, […]
Read more New Senior Partner Announcement
Karanović & Partners Promotes New Senior Partner
Karanović & Partners is pleased to announce that Miloš Jakovljević has been promoted to Senior Partner. Having graduated in 2004, Miloš started his professional path at the Commercial Court in Belgrade. He joined our Corporate & Commercial Practice Group in 2008, establishing himself as a vital member of our team. His expertise lies in M&As, […]
Read more Karanović & Partners Announces New Managing Partner
Miloš Vučković Appointed as the New Managing Partner
Karanović & Partners is pleased to announce the appointment of Miloš Vučković as the new Managing Partner. He will be taking over the leadership position from Darko Jovanović, who has served as the Managing Partner for the past two years. With an extensive 27-year tenure within the firm, Miloš has vast experience in advising clients […]
Read more Competition Update in Serbia: Bid-Rigging Resolved
Serbian Competition Commission Closes the Bid-Rigging Investigation with Sanctions
By its decision dated 29 December 2023, the Serbian Competition Commission determined that the companies KTG Solucije and Eco Sense from the town of Subotica (in Serbia) entered into a restrictive agreement by colluding in public procurement procedures (i.e., bid rigging). The Commission opened this investigation in May 2023 based on a complaint and following […]
Read more Lecture Series on Digital Property Law
Karanović & Partners Engages in Digital Property Course within Studies for Knowledge Innovation at the Faculty of Law
Our Partner Maja Jovančević Šetka recently served as a visiting lecturer at the Studies for Knowledge Innovation, contributing to the course on digital property law. During her engaging lecture, she delved into the topic of the “Use of Virtual Currencies (Cryptocurrency) in Business,” providing insights from practice to post-graduate attendees consisting mainly of attorneys, consultants, […]
Read more Enforcement Activities of the Competition Agency in Montenegro
Montenegrin Competition Agency Finds a Restrictive Agreement by Object on the Market of Services Provided by Tourist Agencies
On 28 December 2023, the Agency for the Protection of Competition of Montenegro (the “Agency”) adopted a decision regarding its finding that the pricelist adopted by the Association of Tourist Agencies of Montenegro (the “Association”) concerning services provided by the tourist agencies amounts to a restrictive agreement by object under the Montenegrin Competition Law. In […]
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