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The Law on Digital Property is the first law in the Republic of Serbia that regulates the area of digital property in Serbia and establishes legal framework for digital business and trade of digital property.
The Law became effective as of June 29 and it regulates:
1) issuance of digital property and secondary trading in digital property in the Republic of Serbia
2) provision of services related to digital assets.
3) lien and fiduciary right on digital property.
4) the competence of the Securities Commission and the National Bank of Serbia.
5) supervision over the application of this Law.
Serbian government has recognized the need to encourage the domestic IT sector and to improve the business environment.
Thanks to the adoption of the said Law, Serbia is among the first countries in the world to create a framework for regulating digital property. A clear framework has been established and legal certainty has been provided for investors and users of digital assets
The new Law on Digital Property will enable Serbia to keep pace with the development of IT technologies and changes in the digital world.
The implementation of the Law on Digital Property will enable the development of the capital market with the help of digital technology. It will also strengthen the framework for combating abuse in the digital property market, as well as for money laundering and terrorist financing.
The law introduces the institute of “white paper”, which in accordance with international practice, is a document that the issuer is obliged to publish, and which contains information that allows investors to make investment decisions and assess investment risks. into digital assets.
When it comes to providers of services related to digital assets, the Law introduces the institute of licenses, as well as the minimum share capital that a company is obliged to have when applying for a license to provide services related to digital assets.
The mandatory amount of the founding capital of companies that want to provide digital assets related services, is prescribed by the Law and in the range from € 20,000 to € 125,000.00, depending on the type of services. The minimum share capital can be monetary and nonmonetary, but at least half of the registered share capital must be subscribed and paid in cash.
The National Bank of Serbia and the Securities Commission are designated as supervisory bodies in the Law on Digital Assets.
For further information please contract Ms Natasa Nedic, Country Executive at our Eurofast office in Serbia, at belgrade@eurofast.eu
Eurofast is a regional business advisory organisation employing local advisors in over 23 cities in South East Europe & the Middle East (SEEME). The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services in Tax & Transfer Pricing – Payroll & Employment – Accounting & Audit – Advisory & Corporate.
Country Executive
Eurofast Belgrade
belgrade@eurofast.eu
6/9/21