Contract Registration

The Application Form for Registration of a Financial Leasing Contract is available in the section “Forms”, and it consists of:

  • a general section (pages 1 to 6); and
  • a special section (Appendices A1 to A4 and B1 to B6).

When submitting an application for registration of a financial leasing contract, it is mandatory to submit the general section of the application form (pages 1 to 6), as well as the appropriate appendix for the leased objects (Appendices B1 to B6), depending on the type of the object of the lease.

Other appendices are submitted only if there are several parties to a financial leasing operation (the corresponding number of Appendix A1, for the lessors, and A2, for the lessees), or if there are several other parties (the corresponding number of Appendix A3, for the suppliers of the leased object, and A4, for the users of the leased object).

INSTRUCTIONS ON HOW TO COMPLETE AN APPLICATION FORM FOR REGISTRATION OF A FINANCIAL LEASING CONTRACT

The Application for registration of a financial leasing contract can be submitted by:

  • the lessor; and
  • the lessee, if this is specified by the financial leasing contract.

If the applicant is a legal entity, the application shall be signed by a legal representative of the company or other legal entity, a representative duly authorized to represent the company, by an act or decision of the competent body of the company, and a procurator.

The application can also be submitted by another authorized person, i.e. a proxy, provided that the authorization, i.e. a power of attorney for representation is attached to the registration application. A procurator cannot transfer the authorization for representation to a third person.

If the applicant is a natural person, and the application is submitted through a proxy who is not an attorney-at-law, the application shall be accompanied by a power of attorney certified by the body competent for certification of signatures.

GENERAL SECTION OF THE APPLICATION FORM

Page 1 - “Information on the applicant”

If the applicant submits the application directly at the Agency, it is necessary to indicate in the application form whether s/he requests to be issued a certificate on the submitted application.

If the applicant acts upon an earlier application that was rejected, the number of the decision rejecting the application submitted earlier must be stated in the application form.

In the section “Information on the applicant”, it is necessary to mark the appropriate box that refers to the general information on the applicant, by ticking the box in front of the appropriate type of the applicant. If the applicant is a natural person, the fields contained on the left-hand side of the form shall be filled out. If the applicant is a legal entity or a state authority, the fields on the right-hand side of the form shall be filled out, in particular:

  • for a natural person who is a domestic national, it is necessary to state the first and last name, unique master citizen number (“JMBG”), place and country of residence, street and street number of residence/domicile; for a natural person who is a foreign national, it is mandatory to state the first and last name, passport number, passport issuing country, place and country of residence, street and street number of residence/domicile;
  • for a domestic legal entity or state authority, it is necessary to state the registered business name/name, registration number and address of the registered office; if the party to a right of pledge is a foreign legal entity, it is necessary to state the registered business name, the designation under which it is kept in the foreign register, the name of that register, place and country of the registered office and address (street and number) of the registered office.

If the registration application is submitted by a natural person, his/her signature, or the signature of the proxy, shall be affixed to the first page of the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.

If the registration application is submitted by a legal entity, the seal and the signature of the authorized person shall be affixed to the first page of the application form. If the registration application is submitted by a proxy of the legal entity, the proxy’s signature shall be affixed to the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.

As of 1 October 2018, business entities are not obliged to use their seals in business letters and other documents (Article 25 of the Company Law, Official Gazette of the RS, Nos. 36/2011, 99/2011, 83/2014 - other law, 5/2015, 44/2018, 95/2018 and 91/2019).

If the registration application is submitted by a proxy who deposited his/her power of attorney with the Serbian Business Registers Agency, it is necessary to indicate the number under which the power of attorney was deposited.

The capacity of the signatory of the application shall be indicated in the application form, by ticking the box in front of the appropriate name (the lessor, personally; proxy/representative of the lessor; the lessee, personally; proxy/representative of the lessee). If the application is submitted through the proxy or representative, his/her first and last name and capacity must be stated in the field provided in this respect.

Page 2 - “Method of delivery of the Registrar’s decision and the accompanying documentation”

Delivery of a written copy of the Registrar's decision is made only at the explicit request of the applicant. This means that the applicant has to indicate in the application form that s/he requests the delivery of the Registrar's decision and choose one of the offered delivery methods. If the applicant fails to do so, a written copy of the Registrar's decision will not be delivered, and the applicant will be able to get acquainted with the content of the decision through the website of the Serbian Business Registers Agency, the Financial Leasing Register.

In the field “Documentation attached to the application”, it is necessary to specify each individual document attached to the registration application form, including proof of payment of the registration fee.

Pages 3 and 4 - “Information on the parties to a financial leasing operation and other parties”

  • Information on the lessor shall be entered on page 3 of the application form;
  • Information on the lessee shall be entered on page 3 of the application form;
  • Information on the supplier of the leased object shall be entered on page 4 of the application form;
  • Information on the user of the leased object shall be entered on page 4 of the application form;

It is not necessary to fill in the information on the lessor on page 3 of the application form, if the information on the lessor is entered on page 1 of the form. On the pages of the form containing information on the lessee (page 3 of the form) and information on the supplier of the leased object and the user of the leased object (page 4 of the form), it is mandatory to mark the appropriate field referring to the general information on the party the information is provided for, by ticking the field in front of the appropriate name. If it is a natural entity, the fields contained on the left-hand side of the form shall be filled out; if it is a legal entity or if the lessee is a state authority, the fields contained on the right-hand side of the form shall be filled out, as follows:

  • for a natural person who is a domestic national, it is necessary to state the first and last name, unique master citizen number (“JMBG”), place and country of residence, street and street number of residence/domicile; for a natural person who is a foreign national, it is mandatory to state the first and last name, passport number, passport issuing country, place and country of residence, street and street number of residence/domicile;
  • for a domestic legal entity or state authority, it is necessary to state the registered business name/name, registration number and address of the registered office; if the party to a right of pledge is a foreign legal entity, it is necessary to state the registered business name, the designation under which it is kept in the foreign register, the name of that register, place and country of the registered office and address (street and number) of the registered office.

Information on the supplier of the leased object is optional.

Information on the user of the leased object shall be filled out only if a third party is granted the right to use the leased object, in which case the field related to the data on the right to use the leased object shall be also filled out besides the field containing the general data.

If several parties are registered, the appropriate number of Appendix A1 (for the lessors), A2 (for the lessees), A3 (for the supplier of the leased object) and A4 (for the user of the leased object) shall be used.

Page 5 - “Information on the financial leasing contract and its content”

As regards the information on the financial leasing contract, it is mandatory to indicate the number of the contract assigned by the lessor and the conclusion date of the contract (day, month, year).

As regards the content of the financial leasing contract, it is mandatory to indicate the term for which the financial leasing contract was concluded (in months), the date of delivery of the leased object and the total amount of lease instalments to be paid by the lessee under the contract (in €). The stated information, as well as other information on the content of the financial leasing contract that are entered in the application - the date of payment of the last lease fee installment, the total purchase value of the leased object exclusive of VAT (in €), the total purchase value of the leased object inclusive of VAT (in €), the total financed value of the leased object (in €) and the total amount of down payment (in €) - must be identical to the information contained in the documentation attached to the application.

By ticking the appropriate box in the application, it is necessary to mark the contracted option after the expiration of the term for which the financial leasing contract was concluded (the buyout, the extension of the contract, the return of the leased object, etc.).

Other information relevant for the financial leasing contract can be marked in the field “Notes”.

Page 6 - “Appendices to the general section of the application form”

On page 6, it is necessary to mark the appropriate field next to the appendix that is submitted with the general section of the form.

SEPARATE SECTION OF THE APPLICATION FORM

When requesting registration of a financial leasing contract that involves several parties, it is necessary to use the appropriate number of appendices, as follows:

  • Appendix A1, if there are several lessors;
  • Appendix A2, if there are several lessees;
  • Appendix A3, if there are several suppliers of the leased object;
  • Appendix A4, if there are several users of the leased object.

*The instructions for completing the general section of the registration application form, provided for pages 3 and 4 - “Information on the parties to a financial leasing operation (the lessor and the lessee) and other parties (supplier of the leased object and the user of the leased object)” should be used to complete the appendices listed above.

  • Appendices B1 - B6 are intended for information describing the leased object in more detail. Depending on the type of asset that is the object of a lease, the appropriate appendix is to be filled out.

If several movable or immovable assets are the object of a lease, it is necessary to submit a duly completed appropriate appendix for each movable or immovable asset that is the object of the lease.

The data stated in the application form must be identical to the data contained in the documentation attached to it.

  • Appendix B1 is to be filled out if the object of the lease is a movable asset that has a registration designation/number. In the field “Type of movable asset that has a registration designation/number”, it is necessary to indicate what type of asset it is, by ticking the appropriate field. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B1a is to be filled out if the leased object is a movable asset that has a registration designation/number, and it is an aircraft. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B2 is to be filled out if the leased object is a movable asset that does not have a registration designation/number, and it is a machinery or equipment. By ticking, it is necessary to mark the type of movable asset that is the object of the lease, depending on whether it is construction equipment and machinery, agricultural equipment and machinery, production equipment and machinery, medical equipment and machinery, IT equipment, household appliances or other machinery and equipment. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B3 (“Other”) is to be filled out if the leased object is a movable asset that does not correspond to the descriptions of the object of a lease contained in Appendices B1 to B6. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B4 is to be filled out if the leased object is an art object or valuables. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B5 is to be filled out if the leased object is an immovable asset - In the field “Type of land”, it is necessary to indicate the type of land, by ticking the appropriate field, depending on whether it is agricultural land, forest land, construction land or other types of land. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.
  • Appendix B6is to be filled out if the leased object is an immovable asset - In the field “Type of the structure”, it is necessary to indicate the type of structure, by ticking the appropriate field. The data should be provided in as much detail as possible, by entering the data in the appropriate fields.

All other data on the leased object that the applicant considers relevant for registration may be entered in the field “Notes”, on the page Appendix B1, Appendix B2, Appendix B3 and Appendix B4.

Other relevant data, which describe in more detail the immovable asset (the land or the structure) that is the leased object, may be entered in the field “Additional description”, on the page Appendix B5 and Appendix B6.

If the object of a financial lease consists of several components or it contains ancillary equipment, where each individual component or ancillary equipment contains features or data that represent the search criteria, it is recommended that each component or each item of the ancillary equipment be entered individually, in order for the query in the database of the Register to return accurate or expected results.

DOCUMENTATION TO BE ATTACHED TO THE APPLICATION

The documentation to be attached to the registration application is prescribed by the Rulebook on the Content of the Register of Financial Leasing and Documents Required for Registration, which is available in the section “Laws and By-laws”.

A duly completed application shall be accompanied by:

  • a financial leasing contract;
  • a statement by the lessor that it agrees to the registration of the contract, if the application is submitted by the lessee, if such a statement is not contained in the contract;
  • other documentation that can corroborate the data whose registration is sought, if the data is not contained in the contract (e.g.: for a legal entity - an extract from the competent register, if it is not registered in a register kept by the Serbian Business Registers Agency; for a foreign legal entity - an extract from the competent foreign register, i.e. another appropriate document corroborating with certainty the data on the parties prescribed by Article 3, paragraph 4 of the Rulebook);
  • proof of payment of the prescribed amount of the fee for conducting the registration procedure.

The documents submitted in support of the application must be originals, certified excerpts or copies certified by the competent authority.

If a foreign document is attached to the application, it must be legalized pursuant to the law, and accompanied by its translation into Serbian made by a certified court interpreter.

“Full legalization” is required if the country in whose territory the public document has been issued is not a party to the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents and it has not concluded with our country a bilateral agreement on mutual recognition of public documents without legalization. If the country of issuance is a party to the Hague Convention, the foreign public document must have the proper “Apostille” affixed to it. Where the Republic of Serbia has a ratified bilateral agreement on mutual recognition of public documents without legalization with the country in whose territory the subject public document has been issued, neither legalization nor the “Apostille” stamp is required.

More detailed information on the parties to the Hague Convention and countries with which the Republic of Serbia has ratified bilateral agreements on mutual abolishment of the requirement for the legalization of public documents is available here.

FEE FOR REGISTRATION OF A FINANCIAL LEASING CONTRACT

The amounts of the fees for registration of a financial leasing contract are stipulated by the Decision on Fees for Registration and Other Services Provided by the Serbian Business Registers Agency.

For registration of data on a financial leasing contract a fee shall be paid according to the value of the contract:

  • RSD 2,000 - for the value of a contract not exceeding EUR 10,000;
  • RSD 5,000 - for the value of a contract exceeding EUR 10,000 and up to EUR 200,000;
  • RSD 10,000 - for the value of a contract exceeding EUR 200,000.

If registration of data on several entities or several movable or immovable assets is requested by one registration application, the amount of the fee prescribed by the Decision shall be increased by RSD 200 for each subsequent entity or movable/immovable asset.

This is an example of calculation of the fee when registering a financial leasing contract with several leased object:

If an application for registration of a financial leasing contract is submitted, where there are five leased objects and the total value of the contract is EUR 50,000, the registration fee will total to RSD 5,800, representing the sum of RSD 5,000, increased by RSD 800 (the first leased object is included in the amount of RSD 5,000 and the amount of additional RSD 200 is paid for each of the remaining four assets). The same method of calculating the amount of fee is applied when there are several lessors, several lessees, or if data are entered for several suppliers of the leased object or users of the leased object.

An additional fee for the untimely filed registration application shall amount to RSD 3,000.

Payment details

The fee for the registration of data on a financial leasing contract is to be paid to the account of the Serbian Business Registers Agency, according to the value of the financial leasing contract:

  • 840-29770845-52, model 97, reference number (click on the “reference number” link and make sure to enter the obtained number, generated by the system, in the payment slip).

ACTING UPON AN EARLIER APPLICATION THAT WAS REJECTED

If his earlier application was rejected, the applicant may, within 30 days of the publication of the decision rejecting the earlier application, submit a new application, remediate any established deficiencies and pay half of the fee prescribed for the subject registration. In that case, the applicant should submit:

  • a new, duly completed registration application, which shall state the number of the decision rejecting the earlier application (the new application should be fully complete, and not partially complete, given that this is a new application for registration);
  • the missing and/or rectified documentation (if the rejecting decision specified the documentation that was not enclosed and/or the deficiencies of the enclosed documentation);
  • proof of payment of half of the amount of the prescribed registration fee (this amount shall be always indicated in the reasoning of the rejecting decision).

Important notes:

If the applicant acts upon an earlier application that was rejected, the number of the earlier application that was rejected must be stated on the first page of the application. Otherwise, the Registrar shall consider the submitted application as a new application and shall assess the compliance with registration requirements only based on the documentation accompanying it.

If the applicant files a new application while at the same time filing an appeal against the decision on rejection, it will be deemed that no action was taken to complete the missing requirements and the appeals procedure will run its course.