Regulatory Alerts2016-03-10
Added · Updated
Communication Regarding Foreign Exchange Operations of Diplomatic and Consular Representative Offices
The National Bank of Serbia issued this communication to clarify foreign exchange regulations for diplomatic and consular offices and UN organizations in Serbia. It permits these entities and their non-resident staff to conduct cross-border transfers, domestic and foreign payments, and currency deposits or withdrawals without submitting supporting documentation. Banks are required to apply anti-money laundering measures to all such transactions.
NATIONAL BANK OF SERBIA Ref.no. II – 1436/2007 In order to avoid any misinterpretation of the Law on Foreign Exchange Operations and supporting legislation relating to diplomatic and consular representative offices and organizations within the UN System located in the Republic of Serbia, the National Bank of Serbia hereby issues the following C O M M U N I C A T I O N Diplomatic and consular representative offices and organizations within the UN System and their non-resident staff members may:
- transfer funds abroad, and
- make domestic and foreign payments
from their foreign currency accounts with banks in the Republic of Serbia without submitting documentation. Non-residents referred to in paragraph 1 may deposit/withdraw foreign currency banknotes to/from their foreign currency accounts with banks in the Republic of Serbia without submitting documentation. In all the transactions mentioned above, banks are obliged to undertake actions and measures as prescribed by anti-money laundering regulations. Note: List of diplomatic and consular representative offices and organizations within the UN System to which this communication refers is posted on the website of the Ministry of Foreign Affairs of the Republic of Serbia – www.mfa.gov.yu. Belgrade, 14 November 2007