Customs regulations mainly related to transit procedures amended

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Related briefings

Amendments to the law on consumer protection in case of consumer credit agreements

The legal protection of consumers when concluding consumer credit agreements is one of the priorities and goals of the Republic of North Macedonia directed towards creating a single market, harmonized with the overall legislation of the European Union. The Law on Consumer Protection in Case of Consumer Credit Agreements (“Law”) already provided that the creditor […]

Further liberalization of capital flows and investment opportunities abroad

By signing the Stabilization and Association Agreement with the European Communities and their Member States (“SAA”), the Republic of North Macedonia committed itself to the free movement of capital, one of the basic principles upon which the European Single Market is based. This principle implies phase liberalization of capital flows. The transition into the second […]

New public procurement law

After the announced reform of the public procurement procedures in 2017, at the beginning of this year the National Parliament adopted the new Public Procurement Law (“Law”). This new piece of legislation embodies the current EU public procurement rules and sets the legal landscape which is expected to result with transparent and efficient spending of public funds. […]

New and enhanced foreign exchange controls

As we previously highlighted, the last changes of the Foreign Exchange Law brought important novelties in the sphere of foreign exchange supervision. Specifically, starting from 1 January 2019 the National Bank of Serbia (“NBS”) assumed the competencies from the Tax Administration for performing foreign exchange control of operations of all types of residents and non-residents. Subject matter […]

The door to employee share schemes in Serbia finally opened?

There are certain new developments related to employee share schemes (“ESS”) in Serbia that could finally lead to enabling of application of foreign companies’ ESS to Serbian employees as well. Foreign companies commonly expressed interest to offer some form of ESS to the employees engaged in their subsidiaries in Serbia, allowing them to profit of […]

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Significant Beneficial Ownership: MCA Releases Amended Rules

On 8 February 2019, the Ministry of Corporate Affairs (MCA) released the Companies (Significant Beneficial Owners) Amendment Rules, 2019 (New SBO Rules) to revise and amend the Companies (Significant Beneficial Owners), 2018 (Old SBO Rules). The New SBO Rules have once again kick-started the process of requiring significant beneficial owners to start the reporting procedures. […]

Bermuda’s beneficial ownership registers and privacy: status update and further observations

Bermuda companies, limited liability companies and partnerships have until 30 April 2019 to update or verify beneficial ownership information under Bermuda’s ‘beneficial ownership legislation’. Bermuda’s central register of beneficial ownership information is held on the Bermuda Monetary Authority’s (BMA) “Integra portal”, a secure online registration and filing system. Currently, under Bermuda law, the information on […]

Trusts vs. Foundations: What are the deciding factors?

Trusts have been around for a long time. Their use in the context of succession and wealth planning as well as philanthropy is well established. Foundations, on the other hand, are relatively new (certainly to common law jurisdictions such as Jersey) and as a result there are fewer of them. However, they are being increasingly […]

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Three firms make the grade in Network Rail’s slimmed-down panel

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A&O rolls out ‘appraisal app’ to let associates get real-time feedback

Allen & Overy (A&O) is rolling out a new app globally that will allow every individual in the business to offer real-time feedback, in the latest stage of the firm’s global overhaul of its appraisal system. The app is currently available to approximately 5,800 people in A&O with just “a few hundred” still to receive […]

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Kirkland’s City financials reach all-time high of $380m

Kirkland & Ellis’s latest financials have revealed the firm has increased its global revenue by more than $500m, up 19 per cent from last year’s $3.16bn to $3.76bn. Outpacing global growth, London revenue is believed to have hit $380m, rising nearly $100m from 2017’s $300m. Last year, it also hit the dizzying heights of $5m […]

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