The Company Law permits the introduction of word “Serbia” in company business names, with previous consent from relevant authority. The same applies to derivatives of this word, all forms associating to this word, names in foreign languages, derived attributes and internationally recognised three-letter symbol of the Republic of Serbia “SRB”.

On the other hand, interestingly enough, such consent is not required for introduction of acronym “RS” in company business name, which is proved by the practice of the Business Registers Agency.

Competent authority for giving consent in this case is the Government of the Republic of Serbia, while the request is submitted through the Ministry of Economy with accompanying documentation that varies depending on whether the request applies to an already established company or a company in the process of establishment (more information can be found here). In any case, it is first necessary to provide positive opinion from the Serbian Chamber of Commerce, and when the Government passes the decision it is necessary to pay republic administrative fee that amounts to RSD 544,120.00 from 1 July 2021.

Serbian Chamber of Commerce (“SCC“) issues the stated opinion in accordance with internal Instruction on requirements and procedure for issuance of opinion on word “Serbia” being used in company business name from 2016. According to this instruction, the SCC issues positive opinion if the applicant meets one of the following criteria:

• performance of activities of importance for the Republic of Serbia, whereby the Republic of Serbia is promoted in foreign markets;
• significant share of company in market business in the territory of the Republic of Serbia (own production, export etc.);
• successful company business (for already established companies);
• successful business of company founder (for companies in the process of establishment);
• if sole or majority owner of a legal entity is a foreign legal entity with significant international reputation or which operates within a multinational company;
• performance of activities that introduce modern technology of production and use new scientific findings;
• performance of activities based on products and/or services specific for the Republic of Serbia, awards won on exhibitions, fairs and competitions in the country or abroad;
• performance of activities that promote cultural creativity and preservation of cultural and audio-visual heritage of the Republic of Serbia.

Along with the request for opinion, supporting documentation is submitted (more information can be found here) including the payment of fee of RSD 36,000.00.

In addition to word “Serbia”, company business name may also contain the word designating a name of territorial unit or autonomous province of the Republic of Serbia, under the terms stipulated in local decisions and with payment of the prescribed fees.

This article is to be considered as exclusively informative, with no intention to provide legal advice. If you should need additional information, please contact us directly.