Online Formation of Companies – Serbian Experience and Way Forward

Abstract

Abstract 481This paper aims at contributing to the existing debate on online formation of companies. It will analyse the current system of full online formation which is available in the Republic of Serbia since 2018 and put it into European perspective. Even though many challenges were related to the full online registration in general, the Republic of Serbia introduced this procedure relatively easy, even though amending the traditional system of registration on several occasions. The last amendments introduced exclusive online formation of companies which is applicable since mid-May 2023. The most challenging issues in regard to full online registration were to accommodate existing system of preventive administrative and prevailingly formal dual control of formation procedure to be performed fully online. In that regard introduction and use of qualified electronic certificate provided high level of assurance in electronic identification, as one of cornerstones of online registration. Nevertheless, this system remained susceptible to negative effects and needs additional attention. It should be important that, beside efficiency, legal certainty and trust in business registers remain the most prominent features of formation of companies, not only in domestic, but above all in cross-border context.482