JPM & Partners > Belgrade, Serbia > Firm Profile

JPM & Partners

Serbia > Commercial, corporate and M&A Tier 1

One of the best law firms in Serbia‘, JPM & Partners’s team advises high-profile domestic and international clients on their most commercially and strategically-significant transactions, including several first-of-a-kind matters. The group is especially noted for cross-border work. Senior partner and corporate head Nenad Popović is ‘one of the market’s best-known names‘, while Jelena Gazivoda heads up the mining and energy department. The second line of key advisers features M&A and joint venture expert Jelena Stanković Lukić, along with experienced senior associates Bojana JavorićJanez Voncina and Marko Mrdja.

Practice head(s):

Nenad Popović; Jelena Gazivoda

Other key lawyers:


‘One of the best-known law firms in Serbia.’

‘One of the best law firms in Serbia. On the leading edge of new legal tech advancements, which it implements to the benefit of clients and collaborating firms. JPM provides to-the-point legal advice that finds the balance between legal rigour and pragmatic business sense.’

‘The whole team is dedicated and client oriented, and always available irrespective of the time and day – the first choice for transactions.’

‘Very helpful and provides clients with all the necessary information and services.’

‘Nenad Popović is one of the market’s best-known names. He has participated in a number of high-profile transactions and is considered one of the best (if not the best) M&A lawyers in Serbia.’

‘Jelena Gazivoda is in a class of her own. Knowledgeable, experienced and ready to help at all times. Her expertise is broad, and she is equally good in corporate, PPP, insurance and energy matters. A true professional and an outstanding person to work with.’

‘Jelena Stanković Lukić is a long-time member of JPM’s corporate team – she is precise, detail oriented, and able to resolve any kind of issue regardless of its nature.’

‘All of its people are very pleasant and available whenever needed, especially senior associate Bojana Javorić – a top pick. She is diligent, available at all times, and with excellent legal and commercial knowledge.’

Key clients

Dulux Group

Rolls-Royce & Partners Finance



Pertula Holdings

Blue Grid

PD Office

C D Holding Internationale

ACIBADEM Healthcare Group



Joint Stock Company Gazprom

Work highlights

  • Advising the Dulux Group on a transaction involving the purchase of 99.8% of the JUB Group.

Serbia > Competition Tier 1

A definite first-choice law firm in Serbia‘, JPM & Partners‘s go-to competition practice fields experts in complex and high-stakes international mergers and multi-jurisdictional cartel investigations. The team consistently acts for major foreign and global clients before competition authorities throughout the region. It also assists with compliance programmes. The practice of competition and antitrust department head Nikola Poznanović, ‘one of the most competent lawyers in Serbia‘, covers a range of antitrust and merger control work. Key names below partner level include Bojana Javorić, Živko Simijonović, Luka Hajduković and Katarina Savic.

Practice head(s):

Nikola Poznanović

Other key lawyers:


‘Clients are left thoroughly satisfied with the service. All team members are diligent and hardworking, and available at all times.’

‘The competition department possesses vast experience in this practice area – combined with its track record, this makes it a definite first-choice law firm in Serbia.’

‘JPM is always the first to introduce new technologies and adopt solutions that make services easier for clients.’

‘Nikola Poznanović is a go-to person for all matters and legal requirements.’

‘Nikola Poznanović is really client oriented, focused, and pays great attention to detail. He is always able to provide appropriate solutions, and offers the best advice.’

Nikola Poznanović is one of the most competent lawyers in Serbia. He is thorough, dedicated, and client oriented. Clients can always rely on him and his expert opinions. Nikola also has a keen business sense, and is able to provide the best legal advice business-wise.

‘Senior associate Bojana Javorić is a great team member – a real favourite. She is hardworking and pays great attention to detail.

‘Bojana Javorić leaves no stone unturned – solid competition law experience and of great support during transactions.’

Key clients

Knjaz Miloš




Adp Gauselmann

Assicurazioni Generali



FLSmidth A/S

Patent Co

Dulux Group


Messer Group

Work highlights

  • Advising Knjaz Miloš on a merger control procedure regarding the acquisition of the exclusive manufacturing, selling, and distribution business of certain PepsiCo ready-to-drink beverages.
  • Advised FLSmidth A/S on a merger control procedure before the Serbian Competition Authority, in relation to the acquisition of ThyssenKrupp’s mining sector activities involving plant technology and industrial solutions.
  • Advising Generali IARD and Generali Vie on a merger control procedure before the Serbian and Montenegrin competition authorities, in relation to both the acquisition by Generali IARD of La Médicale, and the acquisition by Generali Vie of a portfolio of death covers and irreversible loss of autonomy covers.

Serbia > Dispute resolution Tier 1

JPM & Partners‘s dispute resolution practice covers complex disputes involving insurance, insolvency, trade marks, financial services, and white-collar and environmental crime. It is also a go-to firm for cross-border disputes, along with domestic and international arbitrations. Milos Mitić heads up the civil and criminal law department, while Djordje Novčić is another key name in the team and Jelena Milinović has longstanding experience in representing international and domestic clients in criminal and civil disputes. The second line of practitioners features IP litigation specialist Aleksandar Popovic and experienced senior associate Ivana Petković.

Practice head(s):

Milos Mitić; Djordje Novčić; Jelena Milinović; Aleksandar Popović

Other key lawyers:


The team stands out for its professionalism and deep involvement in cases, as well as its exceptional knowledge. Billing is also fair and corresponds with the work’s quality.

Very deep knowledge of arbitration and clients are absolutely satisfied with the service provided. Each member of the team is knowledgeable, client focused and constantly available.

JPM is a full-service firm with an extensive track record. It remains a first choice for all clients’ legal needs.

‘Djordje Novčić is very dedicated to cases, knows all the details, and is always very quick to answer.

‘Djordje Novčić is one of Serbia’s leading experts in this field – clients can always rely on his opinion and overall legal knowledge.’

‘Djordje Novčić has a strong business sense, as well as the ability to provide the best and least complicated solution for the most complex cases.’

‘Jelena Milinović has an outstanding comprehension of clients’ company values – great experience and a unique problem-solving approach.’

‘Aleksandar Popović is a great asset – good knowledge, focus and availability. He always responds promptly and provides optimum legal results at all times.’

Key clients



Colas Rail

Thyssenkrupp Materials



ContiTech Fluid

Walter Group

LKW Walter

BASF SE Germany

Norma Group

Hemslade Trading


Arcelor Mittal


Helvetia Group



Master Building Solution

Alita Ab Lithuania

Work highlights

  • Acting as Serbia legal counsel for Hemslade Trading and Miroslav Mišković in a dispute with Branko Forcan, who is claiming either ownership of both Delta Maxi and Delta Real Estate or compensation.
  • Acting for Gastrans in numerous court proceedings concerning damage caused during the construction of the 400km Gazprom Turkish Stream gas pipeline through Serbia.
  • Representing Colas Rail France (and its Serbian branch) in high-value corporate crime matters, which concern contract breaches, misrepresentation of funds, and money laundering (among others).

Serbia > Employment Tier 1

JPM & Partners‘s ‘large team of hardworking lawyers‘ mostly acts for longstanding clients from the IT, retail and automotive industries. In addition to advising on employment and labour legislation, the practice assists with employment-related data protection, corporate and intellectual property issues. Practice leader and ‘expert lawyerJelena Nikolić is experienced in dismissals, court representation, due diligence, and M&A-related employment issues. At senior associate level, Andrea Cvetanović focuses on employment-related data protection and corporate work.

Practice head(s):

Jelena Nikolić

Other key lawyers:

Andrea Cvetanović; Janez Vončina


‘All the JPM lawyers are experts in their field and clients are completely satisfied with their services.’

‘A large team of hardworking lawyers who provide precise information and clear advice.’

‘Provides high-quality advice in the shortest possible time – extremely business oriented and results driven.’

JPM is extremely quick in its response times – highly professional.

‘Jelena Nikolić is an expert lawyer with over 20 years’ experience.’

‘Jelena Nikolić always expresses herself well and with authority – responds the same day, even after regular working hours, and makes a big effort to support clients. Clients are very impressed with her work.’

‘Senior associate Janez Vončina is very well-educated and skilled, and with a proactive approach to all legal matters. Clients very much appreciate his ability to provide advice on various legal issues.’

Key clients

Acibadem Representative Office

Aspire Technology Unlimited Ogranak, Beograd-Novi Beograd

Accel Club Usa

Basf Srbija doo Beograd

Beiersdorf doo Beograd

Contitech Fluid Serbia doo

Continental Automotive Serbia Doo Novi Sad


Control4 Europe Doo Beograd

C.D Holding Internationale

Danfoss Doo

Denso Thermal Systems

Deichmann Trgovina Obućom Srb

Deutsche Schule Belgrad

Energogreen Doo Beograd

Enterprise Services

Eurofast International Doo Beograd

Fullsteam Holdings

Giz-Kancelarija Beograd

Gastrans Društvo Sa Ograničenom Odgovornošću Novi Sad

Gu-Bks Doo Beograd (ZEMUN)

Ikea Srbija Doo

Akcionarsko Društvo Intereuropa-Logističke Usluge Dobanovci

Karcher doo Beograd

Kolubara-Univerzal doo

Microsoft Corporation

Mtu Aero Engines

Lidl Srbija Kd Nova Pazova

Master Builders Solutions doo

Norma Grupa Jugoistočna Evropa doo Subotica

Providenca Holdings USA

Rehau doo

Remote Europe Holdings

Roma Education Fund

Doo Teklas Automotive Vladičin Han

Tom Tom International

Viatris Healthcare

Work highlights

  • Advised Fullsteam Operations on the employment aspects of the sale and purchase of Groundlink doo Beograd.
  • Advises Providenca Holdings USA on daily HR issues.
  • Advises Accel Club on employment legislation.

Serbia > Projects and energy Tier 1

JPM & Partners fields ‘a team that is dedicated to projects and clients‘. It handles some of the market’s most high-profile matters in relation to energy and natural resources, project development, mining, and oil and gas. Working on an array of projects and energy work, Jelena Gazivoda has the ‘highest level of legal knowledge‘; Nikola Đorđević handles both transactional and regulatory work; and Ivan Petrović advises on project-related development, financing and construction work. At senior associate level, Marija Vukčević and Marko Mrdja both advise on projects and energy work.

Practice head(s):

Jelena Gazivoda


‘A team that is dedicated to projects and clients. Capable of providing the best legal advice on the Serbian market.’

‘Huge expertise in different areas while covering a wide range of specific issues. Swift and accurate advice from skilled and polite professionals, who resolve the issues in close collaboration with the client.’

‘JPM has always been a pleasure to work with. Its strengths are expertise, high levels of professionalism, great team work, commercial legal advice, and best international practices.’

‘Great collaboration, including being able to meet short deadlines without affecting the quality of the advice.’

JPM is one of the few law firms in Serbia to apply sophisticated tools for billing, plus legal tech that enables it to be prompt, efficient and highly transparent.

Jelena Gazivoda is a true leader with the highest level of legal knowledge and very broad experience – great expertise in renewables and related PPP projects. Although she is a legal expert, clients are also very satisfied with her understanding of technical issues in the energy space.’

Nikola Đorđević is a great lawyer who is capable of understanding and dealing with versatile issues and problems – proposes great solutions in the shortest period of time.

Senior associate Marko Mrdja is very hardworking – he constantly improves his capabilities and is constantly eager to learn more.

Key clients

Gastrans doo Novi Sad

Transportgas Srbija doo Novi Sad

Yugorosgaz-Transport doo Niš

Yugorosgaz ad Beograd

FCN Energy Logistics


Public enterprise Srbijagas Novi Sad

Underground Gas Storage Banatski Dvor doo

South Stream Serbia (Switzerland)

Work highlights

  • Advising Gastrans on the finalisation of the construction of a natural gas transmission system.
  • Advising Powerchina on its entry onto the Serbian market, including the regulatory, tax, corporate, energy, commercial and competition requirements.
  • Advising FCN Energy Logistics on its entry onto the Serbian market, including the regulatory, corporate, commercial and competition requirements for the further development of the LNG market in Serbia.

Serbia > Banking and finance Tier 2

JPM & Partners‘s banking and finance practice ‘comprises excellent professionals with great track records‘. The group has notable expertise in project finance, non-performing loans, restructurings and reorganisations. At senior partner level, the recent experience of mining and energy department head Jelena Gazivoda includes advising Gastrans on a loan facility agreement for the construction of a 400km natural gas pipeline; and Nenad Popović is ‘one of the best and most experienced lawyers in Serbia‘. Nikola Poznanovic‘s broad practice covers banking and finance, in addition to M&A and competition.

Practice head(s):

Jelena Gazivoda; Nenad Popović

Other key lawyers:

Nikola Poznanovic; Bojana Javoric


‘The JPM team comprises excellent professionals with great track records and longstanding experience – clients are completely satisfied with its legal services.’

‘Great legal knowledge and business acumen during complex deals.’

‘Nenad Popović is renowned for his extensive experience in major projects.’ 

‘Nenad Popović is one of the best and most experienced lawyers in Serbia. He possesses vast knowledge and is well respected by his peers.’

‘Jelena Gazivoda is a pleasure to work with. She is dedicated, thorough and will always go the extra mile for the client. It is always a pleasure to work with her on projects.’

‘Nikola Poznanovic is a favourite. He is dedicated, detailed and client oriented, and with great business and legal sense.’

‘Nikola Poznanovic is well versed in banking and finance matters. He is an experienced lawyer with an outstanding track record, and clients are thoroughly satisfied with the way he handles transactions.’

Key clients


Victoria Group

China Shandong International

MK Group

Work highlights

  • Advising Gastrans on the negotiation and execution of a loan facility agreement with VTB Bank for the financing of the construction of a 400km natural gas pipeline.

Serbia > Real estate and construction Tier 2

Well-versed in all kinds of real estate projects‘, JPM & Partners‘s practice is experienced in strategic projects, PPPs and concessions, in addition to real estate and construction matters. Recent highlights include advising on the acquisition of bankruptcy-related real estate, due diligence work, greenfield projects, lease agreements, and asset and share deal transactions. Team head and ‘excellent lawyerIvan Petrović focuses on real estate, construction contracts, permitting, PPPs, restitution and litigation. ‘Someone clients enjoy working with‘, senior associate Marija Vukčević is experienced in spatial planning, PPPs and construction law.

Practice head(s):

Ivan Petrović

Other key lawyers:

Marija Vukčević; Aleksandar Popović; Marko Mrđa


‘A first choice for real estate transactions.’

‘The team is well-versed in all kinds of real estate projects, and provides excellent quality for the price.’

‘Ivan Petrović is an excellent lawyer. With his good commercial sense, clients can always rely on his legal advice.’

‘Aleksandar Popović possesses wide experience in real estate, commercial, and litigation matters. He manages to make even the most complicated matters look straightforward and easy to solve. His responses are always to the point and easy to understand.’

‘Senior associate Marija Vukčević is someone clients enjoy working with. She is very efficient, systematic, and precise, and she leaves no stone unturned.’

‘Senior associate Marko Mrđa is an excellent choice. He is experienced, and with great legal knowledge and an excellent work ethic.’

Key clients



PSG Banatski Dvor







Work highlights

  • Advising Mondada Investment on the sale of a prime location in Belgrade.
  • Advised BG UrbanLux on the acquisition of leisure facilities.
  • Advised PSG Banatski Dvor on a project involving the expansion of underground gas storage.

Serbia > Intellectual property Tier 3

JPM & Partners‘s cross-border IP department covers the creation of IP rights, as well as exploitation, protection and enforcement issues. Senior partner and experienced IP litigator Miloš Mitić heads the firm's IP and creative industries department; and the practice of Aleksandar Popović, who 'impresses clients', includes patents, trade marks and significant litigation involving IP issues. Promoted to senior associate in February 2022, Miloš Maksimović is experienced in IP-related disputes.

Practice head(s):

Miloš Mitić; Aleksandar Popović

Other key lawyers:


‘Very approachable, and fast with solutions and correspondence.’

‘Broad approach to possible solutions and handling of the issues.’

‘Good, skilled and competent team.’

‘Analyses each case separately and takes into consideration the needs of the client.’

‘Very sure in its advice, thinking twice before delivering opinions, while taking into consideration clients’ suggestions.’

‘Miloš Mitić is highly competent.’

‘In spite of Aleksandar Popović’s undoubtedly overloaded schedule, he reacts almost instantly to every request from clients with solid advice.’

‘Aleksandar Popović impresses clients with his detailed knowledge of international legislation.’

Key clients

Masterwork Automodules Tech Corp

Master Builder Solutions



Multivista Systems

CRH Serbia

H&M Hennes & Mauritz


New Yorker

ADP Gauselmann

This And That Production

Ex Feed

Mlekara Spasojevic

Jugoslovenska Kinoteka

Filmski Centar Srbije

Messer Tehnogas


Tim-Ing Centar

Universal Pictures



Contitech Fluid Serbia

Merkur Casino

Emergo Sport

Work highlights

  • Assisted Masterwork Automodules Tech Corp with obtaining and transferring copyright and other IP rights.
  • Assisted TIM-ING CENTAR with maintaining four patents in the Republic of Serbia, as well as a fifth patent in the US, Russia, Italy, Turkey, Switzerland, France, Germany, Spain, and the UK.
  • Advised Beiersdorf on the acquisition of IP rights of materials that were created (or will be created) during the implementation of an advertising campaign.

The oldest commercial law firm in Serbia, JPM & Partners has been helping local and international businesses grow in Serbia and throughout the SEE region for almost 30 years. Rated as a top-tier law firm by all the leading legal directories (Chambers & Partners, The Legal 500 and IFLR1000), we provide clients with full-service coverage and pride ourselves on truly understanding their sector and their business needs.

We have accumulated a wealth of knowledge in every major industrial and corporate sector, from energy to banking, transport, manufacturing and telecommunications, while remaining true to a pioneering spirit that has always drawn us to the latest trends and developments. Today we serve clients in growth sectors such as renewable energy, IT and life sciences, offering innovative solutions and a pro-active approach to broaching new ground.

We are known for working closely with clients and treating their problems as our own. Our lawyers pride themselves on being team players, fast and available, specialised in terms of practice area and industry, but versatile and creative in their thinking. We believe our advice should be tailor-made and that even the thorniest issue has a legal solution.

Our membership of Lex Mundi (the world’s premiere network of independent law firms)  means we have close working relationships with first-rate firms throughout the region and around the world, enabling us to operate as the perfect hub for SEE and other multi-jurisdictional transactions.

Corporate Law and M&A Nenad
Corporate Law and M&A Jelena
Privatisation Nikola
Privatisation Aleksandar
Banking and finance Nenad
Dispute Resolution Djordje
Competition and Antitrust Nikola
Labour/Employment Law Jelena
Energy, infrastructure and PPP Jelena
Energy, infrastructure and PPP Nikola
IP, broadcasting and advertising Aleksandar
Privacy / Data Use and Security Ivan
Tax Law Nikola
Customs Law Ivan
Corporate advisory and compliance Nenad
Corporate advisory and compliance Milos
Regulatory/consumer protection/gaming Jelena Stankovic
Real estate and construction Ivan
Gaming Law Jelena Stankovic
Arbitration Djordje
Criminal Law and Criminal Compliance Danilo
Criminal Law and Criminal Compliance Luka
Criminal Law and Criminal Compliance Milovan
Corporate Law and M&A Bojana Javoric
Privacy / Data Use and Security Andrea
Commercial, Corporate and M&A Aleksandar
Labour/Employment Law Marko
Milovan  Bogdanovic photoMr Milovan BogdanovicSenior Associate
Andrea Cvetanovic photoMs Andrea CvetanovicSenior Associate
Nikola Djordjevic photoMr Nikola DjordjevicPartner Nikola is a Partner at JPM, specialising in complex tax, M&A,…
Jelena Gazivoda photoMs Jelena GazivodaSenior Partner
Dragan Grbic photoMr Dragan GrbicSenior Associate
Aleksandar Grujic photoMr Aleksandar GrujicSenior Associate
Aleksandar Hadzic photoMr Aleksandar HadzicPartner
Marko Ilic photoMr Marko IlicSenior Associate
Nikola Jankovic photoMr Nikola JankovicSenior Partner
Bojana Javorić Mićović photoMrs Bojana Javorić MićovićPartner Bojana is Partner at JPM experienced in Corporate/M&A, Commercial, Regulatory, and…
Milos Maksimovic photoMr Milos MaksimovicSenior Associate
Katarina Milic photoMs Katarina MilicAssociate
Mirjana  Milosevic photoMrs Mirjana MilosevicSenior Associate
Ivan Milosevic photoMr Ivan MilosevicPartner
Milos Mitic photoMr Milos MiticSenior Partner
Marko Mrdja photoMr Marko MrdjaSenior Associate
Danilo  Nikolic photoMr Danilo NikolicPartner
Luka Nikolic photoMr Luka NikolicPartner
Jelena Nikolic photoMs Jelena NikolicPartner
Djordje Novcic photoMr Djordje NovcicPartner
Ivana Petkovic photoMiss Ivana PetkovicSenior Associate
Ivan Petrovic photoMr Ivan PetrovicPartner
Nenad Popovic photoMr Nenad PopovicSenior Partner
Aleksandar Popovic photoMr Aleksandar PopovicPartner
Nikola Poznanovic photoMr Nikola PoznanovicPartner
Katarina Savic photoMs Katarina SavicAssociate
Zivko Simijonović photoMr Zivko SimijonovićSenior Associate
Jelena Stankovic Lukic photoMs Jelena Stankovic LukicPartner
Zoran Teodosijevic photoMr Zoran TeodosijevicPartner
Janez Voncina photoMr Janez VoncinaSenior Associate
Marija  Vukcevic  photoMrs Marija Vukcevic Senior Associate


The oldest commercial law firm in Serbia, JPM has been helping local and international businesses grow in Serbia and throughout the SEE region for almost 30 years.

We have accumulated a wealth of knowledge in every major industrial and corporate sector, from energy to banking, transport, manufacturing and telecommunications, while remaining true to a pioneering spirit that has always drawn us to the latest trends and developments. Today we serve clients in growth sectors such as renewable energy, IT and life sciences, offering innovative solutions and a proactive approach to breaching new ground.


We offer our clients comprehensive legal advice with lawyers specialised in all the key industries and practice areas.

We are known for working closely with clients and treating their problems as our own. Our lawyers pride themselves on being team players, fast and available, specialised in terms of practice area and industry, but versatile and creative in their thinking. We believe our advice should be tailor-made and that even the thorniest issue has a legal solution.

The networks

Our membership of Lex Mundi (the world’s premiere network of independent law firms) means we have close working relationships with first-rate firms throughout the region and around the world, enabling us to operate as the perfect hub for SEE and other multi-jurisdictional transactions.


COMPANY/FIRM: Serbian Company active in retail

TESTIMONIAL:  JPM is one of the leading Serbian law firms providing full scale legal services in all practice areas we need. JPM is offering a great service at competitive price. Deadlines are always met, response is quick and up to the point. All lawyers and associates are pragmatic and client oriented.

CLIENT: Corporate Compliance Officer

COMPANY/FIRM: Multinational Company active in construction sector

TESTIMONIAL: The overall services provided by JPM lawyers were of a high professional standards. In our opinion, the JPM lawyers have profound knowledge of legislation and legal practice.  We would, also, point out a short response time even in case of complex matters. For these reasons, we are very satisfied with the services provided by JPM. Based on our experience, we think that JPM law office is one of the top-ranking law offices in Serbia.


COMPANY/FIRM: Multinational Corporation active in energy sector

TESTIMONIAL: JPM has been involved in our business since day one and is as such extremely familiar with our requirements. They offer the tremendous advantage of providing a broad range of practice groups and areas, and

are hence very responsive to the vast multitude of issues businesses face. They provide excellent value for money in comparison to much slower foreign practices we work with across our group.

Tax incentives for renewables – possibilities

The energy development strategy of the Republic of Serbia until 2025 with projections until 2030,as well as the Integrated National Energy and Climate Plan, which is currently being developed and adopted,

Serbia – Data Protection Strategy Proposal for 2023-2030

The Serbian Ministry of Justice released a Data Protection Strategy Proposal for 2023-2030 and invited stakeholders to participate in public discussion.

Yet another investigation initiated by the Serbian Competition Commission and a clear sign of continuous enforcement activity

On 24 March 2023, the Commission for the Protection of the Competition (“Commission”) initiated an investigation against the Hotelsko, Ugostiteljsko i Turističko preduzeće Moskva doo (“Moskva”) for possible gun-jumping.

Arm’s length interest rates

The Ministry of Finance published, at the end of -March 2023, its eleventh Regulation on interest rates which are considered to be in line with the "arm’s length" principle. The Ministry of Finance, i.e. the Minister issues this Regulation every year and it pertains to the interest rates for that year.

Capital gains tax and tax exemptions

The latest amendments to the Law on Personal Income Tax, in the part that refers to tax exemptions for tax on capital gains of natural persons, have expanded the scope of exceptions to the taxation of capital gains. However, it does not seem to be done in a coherent and comprehensive way.

Incentives for Startups – New Innovation Fund’s Register and Copyright deposition as missing links for Tax reliefs

In the Republic of Serbia, there is a number of various incentives for startups, stretching from state aid incentives to private support programs, which represent either a form of financing and subsidization of startups or a form of tax relief with the aim nonetheless to help innovative businesses grow and keeping the economy sustainable. Through various incentives and accompanying programs, the Republic of Serbia is working to create an environment that encourages the development of new, original, and innovative businesses from all respectable areas.

Capital gains tax and tax exemptions

The latest amendments to the Law on Personal Income Tax, in the part that refers to tax exemptions for tax on capital gains of natural persons, have expanded the scope of exceptions to the taxation of capital gains. However, it does not seem to be done in a coherent and comprehensive way.


After the publication of the draft of the Law on Amendments to the Law on Spatial Planning and Construction, a series of public hearings on the proposed draft law was held in February 2023, and now we are waiting for the final wording of the proposal of the amendments and the lawmaker’s response to the of proposals and objections raised during the public hearings.

Renewables sector – challenges and the future expectations

The renewables sector in the Republic of Serbia has been growing for a while with a focus on wind energy, solar energy, biomass, and biogas and as recently on agrivoltaics.

New Governance Structure of the ICC Commission on Arbitration and ADR

We are pleased to announce that JPM Partner Djordje Novcic has been appointed by the Serbian National Committee as one of the Delegates to the ICC Commission on Arbitration and ADR (the ‘Commission’).

Finalizing the legal framework for easier construction of renewable energy facilities

The Ministry of Ecology, Spatial Planning, and Urbanism of Montenegro („Ministry“) enacted a Rulebook on closer criteria for the assessment of requests for the issuance of urbanistic-technical conditions for the construction of facilities for the production of electricity from renewable sources of the sun and other renewable sources (“Rulebook”). The Rulebook entered into force on the day of its publication in the Official Gazette of Montenegro, i.e., on 12 October 2022.

Serbia harmonizes energy legislation with EU natural gas network codes

Government of the Republic of Serbia has adopted on yesterday session 5 Regulations by which the Republic of Serbia harmonizes its legislation with the EU natural gas network codes, the obligation of which exists for the Republic of Serbia as the contracting state of the Energy Community.


The Fiscal Council of the Republic of Serbia published on 29 September 2022 the „Proposal of social and tax policy measures for reducing inequality and poverty risks in the Republic of Serbia“. One of the proposed measures of tax policy for reducing inequality is doubling the limit of non-taxable salary amount, from RSD 19,300 to RSD 40,000 and introduction of non-taxable census of RSD 20,000 per month, to be granted for each household member – dependent. In order to maintain the existing level of budgetary funds, should this proposed reform of individual income tax be adopted, i.e. in order to prevent decrease of budgetary funds due to the reform, it is necessary to increase the salary tax rate from 10% to 15% in parallel with increase of non-taxable census and introduction of non-taxable census for household members-dependents.

A big step for FINTECH companies in Montenegro

To comply with the highest European standards and safety conditions – Law on amendments to the Law on payment transactions (“Law”) has been adopted in the Parliament of Montenegro on 29 September 2022. Free movement of capital and full compliance with the Payment Service Directive 2 (“PSD2”) were main reasons for adopting the Law which shall ensure that the provisions of payment services in Montenegro are regulated in the same way as in the member states of the European Union.


The Government of the Republic of Serbia rendered the new Ordinance on Conditions, Manner and Procedure for Awarding the State-owned Agricultural Land for Use for Non-agricultural Purpose, that came into force on 10 September 2022.

In Which Cases Several Transactions can be Considered as One Concentration

According to the latest Position published by the Serbian Commission for the Protection of Competition, it is prescribed whether and in which cases the scope of one concentration can be several undertakings that are not considered interrelated.


Despite being one of the most turbulent periods in the history of the mankind, 20th century represents one of the brightest spots in the evolution of technology. Except for the general enthusiasm in all branches over the industry, the second half of the century has been fertile when it comes to executing some revolutionary ideas. In the late 50s, an American scientist, a member of the team that worked on the development of the first nuclear bomb, has created something yet unseen, something that will be recognized as one of the fastest growing industries in the years to come.


Despite being already recognized as one of the leading European countries regarding foreign investments, the Republic of Serbia continues its active policy of attracting foreign investors. The direct consequence of the substantial increasement in investments in a plethora of different fields is the fact that there are even more and more foreign natural and legal persons willing to invest in producing audiovisual works on the territory of the Republic of Serbia. The Republic of Serbia recognized this trend and took measures to improve the environment for investing in audiovisual works within the so-called creative industries (e.g. films, short films, TV shows, documentaries, animated films, etc. ‘’Industry’’).

Amendments of the Tariff Methodologies in the Field of Natural Gas

The Energy Agency of the Republic of Serbia (“AERS”) adopted three decisions on amendments of the following methodologies, on its session held on 7 July 2022:

Tax incentive for new residents in Serbia

Government of the Republic of Serbia adopted the Regulation on Criteria for Granting Incentives to the Employers who Employ Newly Inhabited Persons in the Republic of Serbia (hereinafter referred to as the “Regulation”), published in the Official Gazette of the RS no. 67/22 and entered into force on 18 June 2022.

New Developments in Legal Framework for Tax Relief in Serbia for companies in research and development sector

Serbian Personal Income Tax Law and Serbian Corporate Income Tax Law, as well as the Serbian Law on Mandatory Social Insurance Contributions, prescribe tax and social insurance contributions related reliefs for companies that conduct activities of research and development in the Republic of Serbia.

JPM the first law firm in the region to adopt eDiscovery

We are happy to announce continued cooperation with Luminance and the adoption of their AI-powered platform – eDiscovery.

JPM GDPR Team at the Data Protection Conference

JPM Parter Ivan Milosevic and Senior Associate Andrea Cvetanovic participated in BvD Autumn Conference Data Protection and Supervisory Authority Day 2020 in Mannheim, Germany.