BDK Advokati on Private Client topic

BDK Advokati contributed to the latest edition of The In-house Lawyer Private Client guide, which provides an overview of the laws and regulations of Private Client across a variety of jurisdictions, including Serbia.

The Serbian chapter was contributed by BDK’s Tomislav Popović and Luka Radojević. The chapter offers a nimble summary of main rules on taxation of individuals, including personal income tax and taxation of inheritance and gifts, as well as an overview of relevant topics from other areas of law such as the succession law, family law and private endowments.

At present, Serbia offers no tax advantages to creation of private trusts, foundations or similar structures as vehicles for ring-fencing and succession of family wealth. It has also not embarked upon special programmes offering citizenship to high net-worth individuals who move to Serbia. However, the country has rather low personal income tax, reasonable taxation of inheritance and gifts, and a significant number of double taxation avoidance treaties (currently with 62 countries). These factors could be possibly considered in one’s decision to relocate to Serbia and become a tax resident there. The present guide offers a compendium of useful information in this respect.