WAHL advised Croatia Yachting on its acquisition of Odisej Yachting.

In this article, we provide an overview of the latest rules regarding Sunday work and their significance for business operations and labor relations in Croatia. Recent amendments to relevant regulations, such as provisions of the Labor Act that mandate a 50% wage increase for Sunday work and changes to the Trade Act that establish Sunday as a non-working day for the retail sector, significantly impact the legal framework for Sunday work. It is particularly important to understand and be familiar with the exceptions to the general rule of the Sunday work ban to ensure the most efficient organization of business processes and their uninterrupted execution. To adapt successfully to the new situation, read this brief overview and stay informed!

As part of the European Green Deal, the European Union has introduced new rules for large companies and listed companies regarding social and environmental risks they face, and how their activities impact people and the environment. The Corporate Sustainability Reporting Directive (CSRD), which entered into force on 5 January 2023, requires approximately 50,000 large companies and listed SMEs to report on sustainability issues such as environmental rights, social rights, human rights, and governance factors. The rules apply to all large companies and companies listed on regulated markets, except for listed micro-enterprises. Non-European companies with a net turnover of EUR 150 million in the EU, and which have at least one subsidiary or branch in the EU, must also provide a report on their environmental, social, and governance (ESG) impacts.

The Croatian Labour Law has undergone significant changes, including the maximum duration of fixed-term employment agreement, new components of the employment agreement, remote work regulations, and changes to paid and unpaid leave. The revised law also introduces a new definition of salary and new regulations for other salary supplements. The duration of trial work is now limited, and workers can work additional hours with another employer. The article highlights the key changes in the labour law, including provisions on sending workers abroad, absence from work, and determination of salary, among others.

The transition from HRK to EUR as the official currency in Croatia has brought about significant changes for joint stock and limited liability companies. The Croatian Companies Act has been amended to simplify the process of converting share capital to EUR, but the courts are still determining the exact methods for some aspects of the adjustment, leaving some uncertainties. In this newsletter, we will guide you through the process of converting your share capital to EUR for both joint stock and limited liability companies.