Karanovic & Partners

Karanovic & Partners With more than 100 attorneys at law working together as one team, Karanovic & Partners offers unrivalled regional and sector-specific coverage to investors.

A regional legal practice in Southeast Europe with a tradition spanning over 25 years and teams in Serbia, Slovenia, Croatia, Bosnia & Herzegovina, Montenegro, North Macedonia and Albania. Karanovic & Partners is a regional legal practice in Southeast Europe with a tradition spanning over 25 years and teams in Serbia, Slovenia, Croatia, Bosnia & Herzegovina, Montenegro, North Macedonia and Albania

. The practice is a leader in the market because of its dedication, top-quality legal service, and in-depth understanding of clients' industries and needs. As an award-winning firm, Karanovic & Partners are constantly ranked a top tier firm by all relevant directories. The practice has been involved in many of the largest and most complex transactions in the market and works with some of the most respected and reputable businesses in the world, banks, as well as governments, state-owned entities, startups, and NGOs. With their approach to clients as long-term partners, Karanovic &Partners focus on straightforward solutions and tailor-made advice. Lawyers cooperating with the practice are fully immersed in clients’ culture and industry to ensure that the work is delivered intelligently and reliably. Having the company culture where excellence is a must, Karanovic & Partners operates under the “one team” principle, combining their regional reach and local know-how to deliver coordinated legal advice necessary for achieving clients’ goals. The practice is known for innovative legal solutions and being at the forefront of legal developments in Southeast Europe, pioneering new areas of the law and paving the way for new practices and regulations.

North Macedonia's Competition Commission has significantly stepped up its enforcement activity in 2025, adopting 21 infr...
05/05/2026

North Macedonia's Competition Commission has significantly stepped up its enforcement activity in 2025, adopting 21 infringement decisions and imposing fines totalling over €827,000, compared with just 3 decisions and €32,000 in 2024.

The Commission's actions spanned restrictive agreements, abuse of dominant position, gun-jumping offences, and unfair trade practices in the agricultural and food sector.

This marks a clear shift in the authority's enforcement approach and signals that businesses operating in the region should take competition compliance seriously.

📖Read full analysis, prepared by our colleagues, Senior Associates Jane Ilijeski and Vlatko Tokarev from Qoku & Partners in cooperation with Karanovic & Partners: https://www.karanovicpartners.com/news/2025-annual-report-highlights-increased-enforcement-activity-by-the-competition-commission-of-north-macedonia/

Legislation Update: Serbia Transfer Pricing 2026The Serbian Ministry of Finance has issued the new TP Rulebook for 2026,...
30/04/2026

Legislation Update: Serbia Transfer Pricing 2026

The Serbian Ministry of Finance has issued the new TP Rulebook for 2026, setting arm's length interest rates for related-party financing, with notable changes for RUB-denominated loans and short-term USD benchmarks.

At the same time, public consultations on the proposed Law on Audit and Law on Accounting are now open until 15 May 2026, ahead of their expected entry into force on 1 January 2027.

This analysis was prepared by our Senior Consultant Branimir Rajšić, Senior Counsel Ljubisav Stojiljković, and Junior Associate Nikola Mijailović.

Read the full article for the updated rate tables, key changes, and what to do next: https://www.karanovicpartners.com/news/serbia-transfer-pricing-interest-rates-2026/

Serbia has adopted a major reform of its consumer protection and trade laws, introducing stricter rules on digital comme...
30/04/2026

Serbia has adopted a major reform of its consumer protection and trade laws, introducing stricter rules on digital commerce, price transparency, and consumer remedies, all as part of the country's ongoing alignment with EU standards.

With the Law on Trade already applying from 1 May 2026 and the Law on Consumer Protection following on 1 August 2026, businesses operating in Serbia should start preparing now.

This analysis was prepared by our Partners Goran Radošević and Milica Poljak, as well as Associate Anja Gatarić.

👉 Read the full article to find out what the changes mean for your business: https://www.karanovicpartners.com/news/serbia-adopts-major-reform-of-consumer-protection-and-trade-laws/

Our colleagues from CR Partners, in cooperation with Karanovic & Partners, supported Banka Kombëtare Tregtare SHA in suc...
29/04/2026

Our colleagues from CR Partners, in cooperation with Karanovic & Partners, supported Banka Kombëtare Tregtare SHA in successfully closing Albania's first private international bond issuance, a landmark EUR 150 million senior unsecured Eurobond offering. The bank's international counsel was Latham & Watkins LLP (UK).

The team was led by Partner Anisa Rrumbullaku and Senior Associate Adi Brovina.

Morgan Stanley acted as Sole Bookrunner.

A significant milestone for Albania's capital markets, demonstrating the growing appetite among international investors for Albanian private-sector issuers.

Read more in our newsroom: https://www.karanovicpartners.com/news/albanias-first-private-international-bond-issuance/

Montenegro has adopted significant amendments to its Labour Law, effective 23 April 2026, aligning national legislation ...
29/04/2026

Montenegro has adopted significant amendments to its Labour Law, effective 23 April 2026, aligning national legislation with the EU Pay Transparency Directive, introducing:

➡️Salary disclosure in job advertisements
➡️Ban on asking candidates about previous salaries

The changes also cover a broad range of other areas:
➡️Electronic delivery of employment documents
➡️Redefined rules on remote work and probation periods
➡️New parental leave framework
➡️Extended rights for same-sex partners

Several of these concepts are introduced into Montenegrin labour legislation for the very first time.

Our Partners Milijana Tomić and Marko Ćulafić prepared an overview of the key changes to help employers understand what has been amended and what areas may require attention.

🔗 Read more here: https://www.karanovicpartners.com/news/montenegro-labour-law-2026-key-amendments-for-employers/

We are proud to have advised MidEuropa on the sale of Imlek to AJFH and Bojan Radun, marking MidEuropa's successful exit...
28/04/2026

We are proud to have advised MidEuropa on the sale of Imlek to AJFH and Bojan Radun, marking MidEuropa's successful exit following its earlier exits from Bambi and Knjaz Miloš.

Our team provided full-service legal support across M&A, financing, competition, and cross-border structuring, working closely with White & Case:
🔹 M&A: Senior Partner Miloš Jakovljević, Associate Teodora Vasin
🔹 Competition & Due Diligence: Senior Partner Rastko Petaković and Partner Marko Ćulafić
🔹 Financing: Partner Katarina Gudurić, Senior Associate Marija Vićić Simić

Regional support: Sijercic & Partners: Senior Partner Nihad Sijerčić; Senior Counsel Marija Pušić and Senior Associate Jasmin Omerdić, Qoku & Partners in cooperation with Karanovic & Partners: Senior Partner Veton Qoku, Partner Ljupka Noveska Andonova and Associate Martina Anđelković Apostolovska; Ilej & Partners in cooperation with Karanovic & Partners: Senior Partner Goran Ilej and Senior Associate Antun Skansi.

Full details are available here: https://www.karanovicpartners.com/news/mideuropa-completes-the-sale-of-imlek/

Our Senior Partner Milan Lazić represented Karanovic & Partners at the 1st Eastern European Regional SCL Conference, hel...
28/04/2026

Our Senior Partner Milan Lazić represented Karanovic & Partners at the 1st Eastern European Regional SCL Conference, held yesterday in Belgrade, that brought together more than 160 construction law professionals, engineers, financial institutions and project managers from across the region.

Milan joined the panel on Digital Technologies and AI in Construction and Dispute Resolution, alongside Živa Filipič (ICC International Court of Arbitration), Svetlana Borisova (Build DRS), Bence Rajkai (Cerha Hempel), Stanisław Koziarski (Thomas-Koziarski Consulting), Angelica Boca (HKA) and Yasemin Çetinel (Çetinel Law Firm).

The discussion explored how digital tools and AI are reshaping construction practice and dispute resolution across the region.

We thank the Society of Construction Law Serbia and all co-organising societies for establishing what is set to become a key milestone in the regional construction law calendar.

Read our full recap of the conference here 👉 https://www.karanovicpartners.com/news/karanovic-partners-at-the-1st-eastern-european-regional-scl-conference/

Serbia just raised the bar for fair trading in the supply chain. On 23 April 2026, Serbia adopted a new Law on Trading ...
27/04/2026

Serbia just raised the bar for fair trading in the supply chain.

On 23 April 2026, Serbia adopted a new Law on Trading Practices, and companies in the supply chain will have just four months from its entry into force to align their contracts, terms, and commercial practices.

What this means for buyers and suppliers:
• The Law targets unfair trading practices across food, agricultural, and consumer goods supply chains
• It draws on EU Directive 2019/633 but goes further as it covers a broader range of products
• Prohibited practices range from late payments and unilateral contract changes to commercial retaliation against suppliers
• Fines are calculated on total annual turnover in Serbia, meaning exposure can be significant
• A whistleblower reward is introduced: 5% of the fine for decisive evidence

If your business operates in Serbia’s supply chains, now is the time to act.

The analysis was prepared by our Associates Sanja Dedović, Jovana Đorđević, and Stefan Janković, and Junior Associate Marija Janjušević – read the full overview here: https://www.karanovicpartners.com/news/serbia-adopts-new-law-on-trading-practices-key-compliance-implications-for-supply-chains/

💡North Macedonia is expanding its organised electricity market with a new set of operational rules.The National Electric...
24/04/2026

💡North Macedonia is expanding its organised electricity market with a new set of operational rules.

The National Electricity Market Operator (MEMO), upon approval by the Energy Regulatory Commission (ERC), has adopted new Rules on the Operation of the Organised Electricity Market, introducing a comprehensive framework for both day-ahead and intraday electricity trading, as well as clearing and settlement procedures.

The key development: until now, only the day-ahead market has been operational. The new Rules bring the intraday market into the picture, allowing suppliers, producers, and traders to manage balancing positions more effectively and respond to short-term market developments in real time.

This article was prepared by our colleagues, Senior Partner Veton Qoku, Partner Ljupka Noveska Andonova, and Senior Associate Jane Ilijeski, from Qoku & Partners in cooperation with Karanovic & Partners.

👉Read the full analysis on our website: https://www.karanovicpartners.com/news/north-macedonia-expands-organised-electricity-market-with-new-operational-rules/

🌍 The Western Balkans energy transition is taking centre stage - this week in Porto Montenegro.Our Partner Petar Mitrovi...
23/04/2026

🌍 The Western Balkans energy transition is taking centre stage - this week in Porto Montenegro.

Our Partner Petar Mitrović moderated the panel "The Renewable Energy Economy: Unlocking Investment, Scale and Speed" at the Adria Future Summit 2026 in Porto Montenegro.

Joining the discussion:

🔹Admir Šahmanović, Minister of Energy and Mining of Montenegro;
🔹Grzegorz Zielinski, Director and Head of Energy Europe at the EBRD;
🔹Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy;
🔹Mohamed Jameel Al Ramahi, CEO of Masdar;
🔹Stéphanie Capdeville, Member of the Board of Directors of the Green for Growth Fund.

From CBAM to blended finance to Montenegro's auction framework, the conversation went to the heart of what it takes to scale renewable energy investment in the Western Balkans.

Thank you to the Adria Future Summit and Sustineri Partners for convening such a high-level exchange on the region's energy agenda.

🔗 Read more: https://www.karanovicpartners.com/news/karanovic-partners-at-adria-future-summit-2026/

Our Partner Andrej Jelenković, together with Senior Associate Petra Marijanović (our colleague from Ilej & Partners, in ...
16/04/2026

Our Partner Andrej Jelenković, together with Senior Associate Petra Marijanović (our colleague from Ilej & Partners, in cooperation with Karanović & Partners) and Senior Associate Marko Kranjec (from Ketler & Partners, member of Karanović), attended the Adriatic Maritime Law Conference (AMLC) in Izola, Slovenia.

Held from 9–11 April, AMLC is one of the leading maritime law events in the Adriatic region, bringing together port and state authorities, academics, and practitioners.

As part of the program, Andrej and Petra spoke on a panel on yacht marinas, presenting a case study covering vessel collision claims, arrest procedures, and limitation of liability.

We are pleased to have contributed to this regional dialogue and look forward to continuing collaboration across the Adriatic maritime community ➡️https://www.karanovicpartners.com/news/karanovic-partners-at-the-vii-adriatic-maritime-law-conference/

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