The Government of Serbia has adopted a Decree outlining the criteria for transforming public companies into capital companies. According to the Decree, public companies can convert to joint-stock companies if they meet at least two of the following three criteria: having more than 250 permanent employees, generating over 40 million euros in revenue in the previous year, or conducting technically and organizationally complex activities within Serbia.
Companies that do not meet these criteria must transition to a limited liability company (LLC).
Additionally, public companies are required to submit a proposal for their new legal form to the relevant ministry within 30 days of the Decree’s effective date, which is eight days from its publication in the Official Gazette.
