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Typically, DD of an M&A deal in Serbia requires buyers to verify the following aspects:

  • legal position;
  • financial condition;
  • tax issues;
  • assets.

Full legal DD of a Serbian company is going tol cover:

  • corporate status;
  • concluded contracts;
  • personnel-related issues;
  • competition-related issues;
  • IPR;
  • ownership;
  • encumbrances;
  • protection of data;
  • adherence to regulatory requirements.

DD of a Serbian company is also undertaken in situations where only certain assets or parts of a business are purchased. Please, keep in mind that sellers don’t normally provide buyers with DD reports; hence, the latter will have to conduct pre-purchase analysis on their own.

Responsibility for Statements

Should purchasers conclude an M&A agreement in the Republic of Serbia based on inaccurate statements made by sellers, or sellers provide buyers with misleading information about a contract, they may have to pay compensation for damages incurred by purchasers. To avoid that, parties can exclude responsibility for statements made in a pre-contractual period from their agreement.

Access to Information

Conducting DD of a Serbian company usually includes looking for generally accessible information. To be able to operate legally, Serbian companies must apply for registration with the SBRA  Being a database of companies, it can provide buyers with information on:

  • BoD members;
  • information about an LLC’s shareholders;
  • statutes;
  • corporate & capital data;
  • legal representatives
  • financial reporting; 
  • bankruptcy & liquidation data.

Other information buyers normally search for includes:

  • real estate;
  • leasing;
  • pledges;
  • VAT payers;
  • TM registration in the Republic of Serbia;
  • IP;
  • beneficial ownership.

Considering buying a business in the Republic of Serbia? Need assistance with performing DD of a target company in the Republic of Serbia? Why not reach out to IQ Decision UK?