Regulatory Alerts2016-03-10
Added · Updated
Announcement on Foreign Currency Transfers by Non-Residents under Article 29 of the Law on Foreign Exchange Operations
The Foreign Exchange Department of Serbia issued an announcement clarifying that non-resident natural persons may freely transfer foreign currency funds from their bank accounts in Serbia. This directive explicitly states that such individuals are not required to submit confirmation of settled tax dues to the bank processing the transfer. The measure facilitates the unrestricted movement of funds for non-residents in accordance with Article 29, paragraph 2 of the Law on Foreign Exchange Operations.
Foreign Exchange Department II-1-412/06 ANNOUNCEMENT In reference to the Article 29, paragraph 2 of the Law on Foreign Exchange Operations Pursuant to Article 29, paragraph 2, of the Law on Foreign Exchange Operations, a non-resident, natural person, may freely effect transfer of his/her foreign currency funds from his/her foreign currency or dinar bank account in Serbia. In line with the abovementioned provision, a non-resident, natural person, is not obliged to submit any confirmation on the settlement of his/her tax dues to the bank effecting the transfer of funds from his/her foreign currency current or savings account. Belgrade, September 19, 2006