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New Law on Foreign Investments Entered into Force
The National Assembly of the Republic of Srpska on its 23rd session, held on February 22, 2018 adopted the Law on Foreign Investments, which was published in the Official Gazette of the Republic of Srpska no. 21 dated March 13, 2018 and entered into force on March 21, 2018.
In addition to other differences in relation to the previous Law, that has ceased to be valid by the adoption of this Law, this Law stipulates the obligation of a foreign investor to provide the Mayor or Head of Municipality, in which they have its seat registered, with data on the amount of realized foreign investments by the end of March of the current year for the previous year (those data refer to the business name, the address of the head office, the country of origin of the foreign investor, the subject’s registration number and the amount of foreign investment in things, rights or money expressed in BAM). All data collected in this way will be primarily used for statistical purposes.
Accordingly, we inform you that the foreign founders of legal entities registered in the Republic of Srpska have the obligation that by the end of this month provide data to the Mayor/Head of Municipality as mentioned in the text.
Law Firm SAJIC from Banja Luka was founded on the basis of the legal practice initiated even in 1989 by the lawyer Stojanka Sajic. It is the first law firm in Bosnia and Herzegovina founded in the form of a general partnership in 2003 by Stojanka and Aleksandar Sajic.
The firm currently has 17 employees, out of which eight lawyers, six senior associates and trainees and three administrative assistants. The main qualities of the lawyers, as well as other employees, are the client and work commitment and constant tendency to achieve the highest standards of ethics and professional excellence.
The firm, lawyers, as well as all employees are covered by professional liability insurance in case of a damage caused to third parties with the total insurance amount of 2,751,852.80 BAM.
Our strategy is focused on continuous improvement and development of our services, cooperation and preservation of good business relationships with our clients, as well as employment of quality junior staff. Excellent business relationships with our clients are primarily based on constant communication, knowledge and long-standing legal practice, and all employees are focused on achieving and maintaining high quality legal services.
As a standard of business, as of 2009, the Law Firm SAJIC established the quality and organisation management system in accordance with the ISO 9001 standards for the provision of legal services.