Establishment of companies

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TYPES OF COMPANIES IN SERBIA

A PARTNERSHIP is the simplest form of legal entity, both in terms of its organization and in terms of the responsibility of its founders-partners. A partnership is founded by two or more partners, natural persons or legal entities, who perform the same activity with the aim of making a profit, in a joint registered company. The partners are jointly and severally liable without limit with their entire assets for the company's obligations. This means that if the company's assets do not cover the company's obligations, the partners are liable for their total personal assets, regardless of their individual volume and amount.

Each partner is authorized to independently represent the company, unless otherwise specified in the founding agreement.

A LIMITED PARTNERSHIP is a transitional form of legal entity in which the founders have both limited and unlimited liability for the company's obligations.

A limited partnership has at least two members, at least one of whom is liable for the obligations of the company in unlimited joint and several liability (general partner), and at least one is liable limited to the amount of his unpaid, i.e. non-entered contribution (limited partner). This means that if the company's assets do not cover the company's liabilities, the general partner is liable with the total personal property for the liabilities incurred, and the limited partner is not liable for the company's liabilities if he has paid the entire contribution for which he committed himself in the founding agreement.

Complementary members manage the company's affairs and represent it. Limited partners cannot manage the affairs of the company or represent it.

LIMITED LIABILITY COMPANY is the most commonly registered form of legal entity. One or more founding members contribute their shares to the basic capital of the company. Contributions can be monetary or non-monetary, with the minimum basic capital of the company being 100 dinars. The percentage amount of their share in the total share capital of the company represents the amount of their share. (For example 51%:49%). Given that the purpose of establishing D.O.O. realization of profit, the distribution of profit between members is done proportionally to their shares. According to the amount of the share, the right to vote in the assembly and the right to participate in the liquidation residue after the deletion of the D.O.O. All these mutual rights, as well as relations with the company, are regulated by the members freely, unless otherwise regulated by law.

The Company is liable for the obligations incurred in its operations with its entire assets. A member is not responsible for the company's obligations if he has paid the entire contribution that he assumed in the founding agreement.

A JOINT STOCK COMPANY is the most complex form of legal entity in which the founders-shareholders have limited liability for the company's obligations. Shareholders can be legal entities or natural persons. The basic capital of the joint stock company is divided into shares. Shares and shareholders are registered in the Central Register, and shares are issued in accordance with the regulations governing the capital market.

The joint-stock company is responsible for its obligations with all its assets.