The Law on the Central Register of Beneficial Owners will begin to apply as of October 1, 2025, which is earlier than the previously announced deadline – October 2026. This timeline is linked to the need for aligning domestic regulations with European standards, particularly in the areas of ownership transparency and the prevention of abuse within the economic system.
New Legal Framework and Additional Obligations
Under the amended provisions, all registered entities will be required to align their beneficial ownership data with the new legal requirements by the end of September 2025. This obligation applies even to entities that have previously completed the registration process, as the updated law introduces:
• an obligation to upload the documents on the basis of which the beneficial owner has been identified;
• an obligation to verify the accuracy and up-to-dateness of the registered beneficial ownership data within one year from the date of the last registration or confirmation, and to confirm the accuracy and up-to-dateness of such data within an additional 30-day period.
The technical details of implementation, as well as the specific content of the required documentation, will be further regulated by by-laws.
Regulatory and Practical Implications
Clearly defined requirements regarding the accuracy and timeliness of beneficial ownership data now form part of a broader regulatory framework—particularly relevant in the context of Serbia’s European integration process.
Timely understanding and adherence to these requirements may be essential for uninterrupted business operations, especially in matters involving transparency, due diligence in business relationships, and compliance with anti-money laundering obligations.
Where clarification of these new obligations or alignment with the applicable legal framework is required, the legal team at Injac Attorneys possesses relevant experience in this field.
The information provided in this document does not constitute legal advice in relation to any specific matter and is intended for general informational purposes only.
