Serbia’s New Beneficial Ownership Register Law Takes Effect

Serbia’s new Law on Central Records of Beneficial Owners begins applying on 15 September 2026, introducing a strengthened framework for recording, verifying and using beneficial ownership information.

The law was adopted in 2025 and formally entered into force on 14 March 2025, but most of its provisions were deferred for 18 months. It now replaces the previous beneficial ownership register law and expands both the information held in the central register and the obligations surrounding its accuracy.

What changes under the new framework

The law applies to Serbian companies other than public joint-stock companies, cooperatives, branches and representative offices of foreign companies, certain associations, foundations, endowments and institutes. It also covers specified trusts and trust-like legal arrangements connected to Serbia.

Beneficial ownership continues to include natural persons who directly or indirectly hold at least 25% of ownership or voting rights, as well as persons exercising dominant influence or certain other forms of effective control. The register will also hold supporting documents used to determine the beneficial owner, including copies of passports or foreign identity documents where applicable.

Authorised persons generally have 30 days after a relevant registration event or ownership change to record beneficial ownership information and upload the supporting documents. Registered entities must also periodically verify that their beneficial ownership information remains accurate and up to date.

Existing entities face a transition deadline

Existing registered entities must align with the new law within 60 days from 15 September 2026. The Business Registers Agency will publish a list of entities that fail to register required beneficial ownership information or, for existing entities, fail to upload the supporting documents within the transition period.

A significant AML consequence is that entities appearing on that list are to be classified as high risk under Serbia’s anti-money laundering and counter-terrorist financing framework.

The law also strengthens the interaction between the beneficial ownership register and customer due diligence. AML-obliged entities must compare beneficial ownership information obtained through their own due diligence with data in the Central Records. Where discrepancies are identified, the framework provides for notification and reconciliation procedures rather than treating the register as a substitute for independent CDD.

Why it matters

The reform moves Serbia’s beneficial ownership framework beyond simple registration toward a system that places greater emphasis on documentary evidence, ongoing verification and the use of register discrepancies within AML supervision. For companies and professional service providers, the immediate priority is ensuring that existing beneficial ownership records are supported by appropriate documentation and brought into line with the new requirements during the transition period.

Sources

Serbian Business Registers Agency — Law on Central Records of Beneficial Owners
Serbian Business Registers Agency — Guidelines for Entering Beneficial Owners into the Central Records