Slovak News - Dec 96 - Amendment To Decree Enforcing Provisions Of The Foreign E

Decree of the Ministry of Finance and the National Bank of Slovakia No. 335/1996 of Coll., to amend the Decree No.203/1995 of Coll., which enforces provisions of the Foreign Exchange Act.

This provision is to liberalize the current foreign exchange regime and to extend the list of items which do not require a foreign exchange permit.

A foreign exchange permit is now not required where a Slovak resident receives a loan from a foreign exchange non-resident for a period of three or more years.

A permit is also not needed in the case where a Slovak resident is bound by contract to buy immovables and also where he is directly investing in any OECD member state.

The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.

For further information contact Ruth Clamp, Arthur Andersen Bratislava on tel: +42 7 5340 545, fax: 42 7 5340 542 or e:mail directly to ruth.a.clamp@ArthurAndersen.com or enter text search 'Arthur Andersen' and 'Business Monitor'.