Parliament adopts new Law on Investment
23 Oct 2015
On 23 October 2015, the General Assembly of the Republic of Serbia passed a new Investment Law ("Official Gazette of the Republic of Serbia", no.89/2015) which has come into force on 4 November 2015. The main elements of the new law include: 1) Equal treatment for foreign and domestic investors. 2) Differentiation between investments of special importance and those of local importance. 3) Right to investment incentives, such as state aid, tax incentives, customs incentives, as well as incentives covering compulsory social security obligations. 4) Duty free import of equipment that a foreign investor contributes (subject to a few exceptions). 5) In cases of expropriation, investors will be entitled to compensation not only for the seized real property but also for any devaluation of business caused by such expropriation. 6) Disputes may be settled before domestic courts and arbitral tribunals. 7) The Serbian Investment and Export Agency (SIEPA) will be abolished and replaced by a Serbian Development Agency and a Council for Economic Development.
Nature of measure:
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Promotion
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Incentives
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Other regulatory changes
Type:
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Treatment and operation (Nationalizations and expropriations, Capital transfer and FOREX, Dispute settlement, Operational conditions)
Industry:
Inward FDI:
Yes
Outward FDI:
No
Sources:
