NEWS

Proposal for the Amendment of the Law on Public Notaries

The Government of the Republic of Serbia has proposed amendments to the Law on Public Notaries (“Official Gazette of RS”, no. 31/2011, 85/2012, 19/2013, 55/2014 - other law, 93/2014 - other law, 121/ 2014, 6/2015 and 106/2015) with the purpose of introducing the obligation to solemnize monetary loan agreements between natural persons in the amount of EUR 10,000 and higher.

The amendment is being proposed to require that monetary loan agreements between individuals amounting to EUR 10,000 or more be formalized and registered to prevent money laundering and ensure oversight.

This proposal aims to address the lack of control and transparency in these transactions. Once adopted, the impact on individuals who do not comply with the formalization requirement remains to be seen.

Check out the interpretation by our partner Jelena Stanković Lukić.

 

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