Non-resident founding members of a limited liability company can invest in their business (registered in Serbia) in the form of an additional payment that does not increase capital. The payment is made into the company’s foreign currency account. Therefore, it will be...
PAYMENT CODES Classified by the type of payment 1 - Cash Cash payments to or from checking accounts 2 - Cashless Transfers from one checking account to another 3 - Accrual Billing payments 9 - Reimbursements Returns for overpayments or erroneous payments...
In November of 2014, the National Assembly of the Republic of Serbia passed the Law on the Protection of Whistleblowers. The Law went into effect on June 5, 2015, six months after its publication in the Official Gazette of RS. The purpose of the Law is to protect...
Notice of foreign currency inflow is one of the most commonly seen documents in foreign currency transactions between domestic (resident) and international (non-resident) companies. Suppose a foreign buyer is making a payment for exports that were made by a domestic...
A business entity may receive payments in foreign currency to a bank account based on international trade operations and certain specifically regulated transactions within domestic trade for which payment in foreign currency is permitted. The most common transaction...
One of the first steps you need to take before establishing your company and drafting the article of incorporation is to choose a business name. There is a lot of good marketing advice you can take into consideration when selecting a name, and certain legal...
In the course of business, there are common confusions about the difference between the pro forma invoice, advance payment invoice, and regular invoice. A pro forma invoice most commonly serves as a request for payment of goods and services that have yet to be...
Two different laws mediate payments made by legal business entities and those made by natural persons. The Law on Payment Services regulates all transactions made in dinars while the Law on Foreign Exchange Operations oversees foreign currency transactions. Both...
According to the latest amendments to the Individual Income Tax Law, which came into force on May 30, 2013, revenue from leasing personally owned estate is classified as capital income. The articles previously regulating these revenues (Articles 66-71 of the Law) were...
The Law of Contracts and Torts regulates a lease agreement as a specific type of contract whereby the lessor undertakes to transfer possession of the property to the tenant for use, who is in turn responsible for paying the negotiated rent. A lease agreement may be...
When importing goods into Serbia, importers rely on their forwarding agents who guide them not only through the import procedures, but also customs and foreign exchange regulations related to their niche. The Customs Administration is also involved as they issue a...