Changes to the Law on Foreign Exchange Operations

Serbia
UniCredit Bank Serbia JSC
Summary: 
Changes to the Law on Foreign Exchange Operations have been adopted and published and will become effective as of 28 Apr 2018
Thu, 26/04/2018

 

The Serbian Parliament adopted amendments and supplements to the Law on Foreign Exchange Operations, the aim of which is to liberalise certain investment rules applicable to resident and non-resident investors. These were published in the Official Gazette of the Republic of Serbia on 20 Apr 2018 and will enter into force on 28 Apr 2018.

The major change impacting nonresidents investing in Serbia is that if headquartered or domiciled in a Member States of the European Union, these will be allowed to invest in short-term securities issued in the Republic of Serbia. In contrast, until now, non-resident investors were not allowed at all to purchase securities with maturity at the issuance date of less than or equal to one year.

Impact on Investors:  The updated Law on Foreign Exchange Operations, entering into force on 28 Apr 2018, expands the investment opportunities for non-residents from EU countries by allowing them to purchase short-term securities issued in the Republic of Serbia.