Regulatory Alerts2012-11-09
Regulation on the Opening of Representative Offices Inside and Outside Kosovo
The Central Bank of the Republic of Kosovo issued this regulation to establish the terms, requirements, and procedures for licensed domestic banks and foreign banks to open representative offices inside and outside Kosovo. Applicants must submit written applications containing board decisions, director qualifications, operational costs, and organizational structures, ensuring the offices conduct only liaison and market research without engaging in core banking operations. The Central Bank must approve or deny each application within sixty calendar days, with the regulation taking effect on December 3, 2012 and criminal penalties enforced for unlicensed banking activities or false application information.
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