Established in 1995 and based in Belgrade,
Karanović & Partners, originally Karanović & Nikolić, is a large firm by local standards, employing more than 50 lawyers, 16 of whom are partners. It has an international network, working in association with firms in Slovenia, Bosnia and Herzegovina, Montenegro and North Macedonia. The firm has a focus on all matters in financial and corporate and project development work.
Karanović & Partners advised EFSE as an investor in the issuance of MREL bonds by Raiffeisen Bank Serbia. The transaction was closed in June 2024 and the bonds are listed on the Belgrade Stock Exchange. The team acted as local counsel and was led by partner Maja Jovančević Šetka.
The firm is also advising Bechtel, a US civil engineering group, that is together with the company Enka engaged in the construction of the Morava Corridor, a road connecting Trans-European transport Corridors X and XI. Their work included advising on the main terms of the construction contract, structuring the contract implementation, obtaining construction licenses and permits, as well as other real estate matters. The project is currently ongoing.
BIG CEE; Piraeus Bank SA; Green for Growth Fund and the European Fund for Southeast Europe; OTP; Flutter Entertainment plc; Bechtel International; Windvision Operations; Akuo Energy Central Europe; Shanghai Fengling Renewables; AARSLEFF sp. z o.o.
Testimonials 2024/2025
We appreciate the team’s availability, professionalism, adaptivity, and quick thinking. (Banking & Finance)
I have worked with this team for so many years now, in diverse and complex matters. We continue to work together precisely because of the good rapport we have built, as well as confidence, reliability and transparency that are always present. (Banking & Finance)
What sets this team apart is the professionalism that is constantly at a high level, timely delivery and in-depth expertise. I know that this team will always give it their all and that my team will get the best possible service. (Banking & Finance)
The lawyers I worked with have abundant experience and the latest industry-specific knowledge and insight. Their performance in sophisticated matters has set the bar high, so my colleagues and I now generally have high expectations of them for future challenging endeavours, which I am sure they will fulfil and surpass. (Banking & Finance)
In terms of communication, everything is always clear and straight-forward. Overall, the entire working process is seamless and stress-free. (Banking & Finance)
I was impressed by their promptness and commitment to the task. (Banking & Finance)
They are very professional. (Banking & Finance)
Their services are prompt and to the point. The two main attorneys we interact with are true professionals, they are very responsive, treating our requests with priority. The quality of advice and representation is also at a high standard. (Project Development)
Katarina Gudurić is professional, to the point, punctual and fair. (Banking & Finance)
I have been working with
Darko Jovanović over the years and I admire his abundant market and legal knowledge. He is an excellent lawyer and oversees the team exceptionally. (Banking & Finance)
Dimitrije Radulović brings a fresh perspective on things and new ideas. (Banking & Finance)
Maja Jovančević Šetka is my main point of contact and go-to person at the firm. She is an extremely valuable asset to the team and a highly reliable lawyer. I really enjoy collaborating with her and I appreciate her diligence, thoroughness, awareness, efficiency and negotiation skills. She is generally a very capable woman, a reliable and resourceful partner and a knowledgeable lawyer – a true master of her craft. (Banking & Finance)
Maja Jovančević Šetka is a very reliable partner. (Banking & Finance)
Milica Volarev is prompt in her responses, has excellent communications skills and keeps on top of a multitude of legal issues / cases we as a company are dealing with. Her legal knowledge is very good and when her competence is limited, she has no issue referring us to a more experienced lawyer in her company who can advise us at the highest level. (Project Development)
Filip Vukovic is highly responsive and attentive, consistently striving to provide prompt and accurate answers. (Banking & Finance)
Testimonials 2023/2024
“Very international, good market knowledge, excellent lawyers.” - Banking
“They work abroad and domestically with various financial documents, among all, with documents facilitating creditors to recover their claims, therefore they are welcome to transfer their knowledge to Serbian banking legal community.” - Banking and finance
“Very professional, able to provide practical, to the point input; very good partner in the region.” - Banking and finance
“I am incredibly pleased to have found a firm that continuously handles a variety of legal matters in an excellent manner, with all lawyers from different departments and jurisdictions working together on a deal as one team. In particular, the fact that Karanovic & Partners operates across the Balkan markets is immensely helpful and they are always my choice when I need reliable legal advice.
The knowledge and capabilities of their team members are truly remarkable. Overall, they have a broad range of specialties and backgrounds, so they can handle any situation no matter how complex it is.”
“What I like about Karanovic & Partners’ service is that it is constantly on an exceptional level. Whenever they provide legal support to us in all relevant matters, their approach is all-encompassing, making them extremely reliable and fully committed. I am confident that they will always pay detailed attention to transactions and their context, going the extra mile to alert us and advise against possible risks and negative outcomes. This proved to be crucial, since all the projects we have done together turned out to be successful so far. It is safe to say that Karanovic & Partners always has our best interest in mind and commits completely to maximizing those interests and benefits.
"The team of lawyers we have worked with has abundant and wide-ranging experience and is quick to respond to our questions and requests. One of their key strengths is the extensive industry-specific knowledge, which makes them more than well positioned to cater to various business needs not only in Serbia but in the SEE region, also."
"The fact that we use their services regularly, especially in complex matters, demonstrates our complete and unquestionable confidence in their advice.” - Banking and finance
“Very professional with a proper setup to respond to all requests of a big non-resident bank.” - Banking and finance
“High level of knowledge and experience, timely responses, easy going communication, experts teams per each industry.” - Financial service regulatory
“Responsive, commercial, practical advice, good understanding of the local law and market practice. Keeps us up to date on local developments.” - Investment funds
“Very responsive, good quality and precise legal advice, knowledge about market standards, practical and business-oriented approach.” - M&A
“Always knowledgeable of the real estate market and proposing balanced agreements that protects both the interest of their clients, but also promotes a swift and fast deal.” - M&A
Maja Jovancevic
“Responsive, commercial, practical advice, good understanding of the local law and market practice. Keeps us up to date on local developments.”
“Maja Jovančević Šetka is someone I personally and the Bank have worked with for many years. Throughout this time, she has never failed our expectations. What is highly recommendable about her is her focus and commitment, her wide-ranging skill set and resourcefulness, as well as her practical approach and seamless communication. She is a solution-oriented lawyer, who will certainly exceed performance expectations.
She not only superbly handles any regulatory issues that come up in Serbia but is also able to provide advice on jurisdictions in the region. She understands our needs well and is very proactive in strategic thinking with the aim of mitigating any possible risk. The result is that she foresees our needs and concerns and is always a step ahead, increasing the Banks benefits. She is very dedicated to all matters we work on together and navigates complex issues seamlessly.”
“She is serious, reliable, demonstrates wide range of knowledge and professionalism, respects agreed.”
“Maja Jovančević Šetka serves as our main point of contact, showcasing her remarkable ability to collaborate effectively and apply practical expertise in navigating complex issues, practices, and boundaries effortlessly. Her extensive understanding and knowledge of banking and financing law go above and beyond, while her dedicated approach to finding solutions is exceptional in minimizing any potential risks. Maja's extraordinary work truly sets her apart in the legal field.
I would also like to mention and praise from her team the associate Dimitrije Ilić and, for corporate matters, Partner Miloš Jakovljević - both are recommended.”
“Excellent across the board - professional, knowledgeable, communicative, responsive, solution-oriented."
“Knowing banking as business, anticipated needs and trends, able to get and to transfer knowledge, understands banking things better than others.”
Petar Mitrovic
“Very reliable partner; friendly, respectful, listens well and provides creative solutions.”
