ANNOUNCEMENT 27 Mar 2014

In March 2014, the government of Bosnia and Herzegovina announced a rule change for personal cross-border financial flows.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 27 Mar 2014 | Removal date: open ended
Still in force

Control on personal transactions

The Republic of Srpska situated in Bosnia and Herzegovina on27 March 2014 introduced the following liberalization-oriented amendments to its Foreign Exchange Law:

  1. Payments via Paypal -To enable the citizens to engage in e-commerce via Paypal and similar foreign e-commerce companies, the amendments specify that the currency held with such institutions shall not be deemed by bank deposits.
  2. Cross-border assignment, debt assumption and set-off in the context of trade claims/debts- In order to prevent circumvention of creditors, the law specifies that a resident debtor whose bank accounts are blocked cannot settle its obligations via claim assignment, debt assumption or set-off.
  3. Commercial credit- the threshold payment period delineating a trade transaction from a commercial credit transaction was prolonged from six months to longer than one year.
  4. Real estate acquisition : The prohibition on acquisition by non-residents of local real estate and acquisition by residents of real estate located abroad has been lifted.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A