New legal regulations for companies and registration system

The Parliamentary Committee for Economy, Finance and Budget is meeting today, and as announced, two important legislative solutions in the field of the business environment will be before the members – the Proposal of the Law on Amendments and Supplements to the Law on Business Organisations and the Proposal of the Law on Amendments to the Law on Registration of Business and Other Entities, submitted by a group of 46 Members of Parliament.

According to documents published on the website of the Government of Montenegro, the key novelties relate to changes in the manner of establishing and registering companies, as well as the alignment of the system with new solutions in corporate law.

The explanation states that the amendments to the Law on Business Organisations have led to the abolition of previous solutions regarding the electronic certification of documents. As specified in the official document: “by amendments to that regulation, the legal basis for their further application has ceased”.

At the same time, with the new Proposal of the Law on Registration of Business Entities, the procedure of registration and submission of documentation is systematically regulated. The document states that by this law “the procedure of registration, as well as the manner of submitting documentation to the competent registry, is systematically regulated, without electronic certification of documents”.

The previously proposed amendments to the Law on Business Organisations are also aimed at the digitalisation of business, including the possibility of establishing companies electronically and using a qualified electronic signature, thereby further modernising the business environment and aligning it with EU standards.

Source: bankar.me