LAW ON FOREIGN CURRENCY TRANSACTIONS (“Official ... - Siepa

Exceptionally, the bank can not obtain guarantees and sureties specified in Paragraph 2 of thisArticle for its claims in the Republic, arising from foreign credit facility for which the stateassumed the obligation of foreign repayment.Resident - legal entity can provide a surety to non-resident as per transaction of import of goodsand services of another resident, as well as to non-resident who performs in investment works inthe Republic.Resident - a public company and legal entity with state capital may give surety to non-residentunder transactions from Paragraph 4 of this Article under the terms and in manner prescribed bythe Government.Resident - legal entity can obtain guarantee and surety from non-resident per transaction ofexport of goods and services and performance of investment works in a foreign country foranother non-resident, as well as per transaction between the resident and another resident -legal entity in the Republic.The provisions of this Article shall not apply to guarantees and sureties under Article 2 Item (21)Paragraph 5 of this law, which are considered as a foreign credit facility transaction, and areconducted in accordance with Article 18 of this law.7. Deposit OperationsResidents’ External Deposit OperationsArticle 27The bank shall, without any restrictions, keep foreign currency on the accounts of banks abroad.Residents may keep foreign currency on the accounts of banks abroad in the manner and underconditions prescribed by the National Bank of Serbia.Non-Residents’ Deposit Operations in the RepublicArticle 28Non-resident may keep foreign currency and dinars on the account with a bank withoutrestrictions in accordance with the present Law.The National Bank of Serbia shall prescribe conditions under which banks may open accountsfor non-residents and the manner of keeping such accounts.Transfer of Funds from Accounts to AbroadArticle 29Non-resident who operates through a non-resident account and a resident - branch of a foreignlegal entity that operates through a resident account, perform transfer from these accounts toabroad provided that they have previously settled the tax liabilities from that transaction to the