As of the end of 2018, Serbia established a central register for ultimate beneficial owners (UBOs). Serbian companies, institutions, and foreign investor branches operating in Serbia must register their UBOs by January 31, 2019.

The government created an online portal to streamline the registration process. While disclosure is mandatory, supporting documentation is not required initially. However, entities must retain UBO data for ten years and make it available to authorities upon request.

Penalties and Enforcement

Non-compliance carries significant consequences. The administrative fine reaches up to RSD 2,000,000 (approximately EUR 17,000). Criminal liability applies to individuals who intentionally conceal UBO information, fail to register required details, submit false information, or alter or delete accurate data. Penalties include imprisonment up to five years.