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Author: admin

Vaic Law Office > Articles posted by admin (Page 3)
07 March
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Business of non-residents throughpermanent business unit

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It is well known that some citizens hold large amounts of money in the bank accounts, while due to high inflation and low interest rates savings in the bank are currently not profitable. Namely, by holding money in the bank savers do not generate any returns, while inflation at the same time reduces the value of money saved, because with the money saved, savers can buy less and less products and services day by day, and this trend will continue in the future. To preserve the value of money, real estate investments provide good security against inflation and represent tangible,...

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07 March
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Business travel during corona measures

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Measures introduced as a result of the coronavirus epidemic (COVID-19) make it very difficult for people to move across borders, however the Croatian government has introduced some milder measures for people traveling for business reasons. Accordingly, from 28 February 2021, people traveling from countries / regions of the European Union / European Economic Area, although coming from countries that do not belong to the green list of the European Center for Disease Control and Prevention, do nothave to have a PCR test nor is a measure of self-isolation imposed on them if they travel for necessary family or business reasons. One...

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07 March
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Boundary line regulations in the republic of Croatia

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In the Republic of Croatia boundary lines are often a subject of legal disputes. A legal dispute with neighbor/s regarding boundary lines often emerges when, for example, an investor buys a building land and starts to build. These disputes can last several years.This also happens to the natural persons when, for example, they inherit building land and start with the building.These problems could be efficiently avoided when all natural and legal persons would, prior to entering into sales contract, hire a surveyor to measure and map the land and determine the boundary lines. The surveyors’ conclusion must be signed by all the neighbors. In case all the neighbors wouldn’t sign this...

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06 March
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Abuse of trust in economic businessoperations

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In the economic business operations, whoever breaches the duty to protect someone else’s property interests based on the law, decision of an administrative or judicial authority, legal transaction or a trust relationship, thereby obtaining for himself or another person unlawful material gain and by doing that or in some other way causes damage to one whose property interests he is responsible for, will be punished by imprisonment for six months to five years. If substantial material gain has been gained or substantial damage done, the perpetrator shall be punished by imprisonment for a period between one and ten years. Substantial material...

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14 February
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Property relations of spouses in Croatia: regulations under family law

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In the Republic of Croatia, family law regulates the property relations of spouses. Here isan overview of marital and personal property and the significance of marriage contracts: marital property: Marital property includes property acquired through work during the marriage as well as property derived from it. Spouses are co-owners in equal shares, unless they have agreed otherwise. Gambling winnings and property benefits from copyrights and related rights also fall under marital property. separate property: A spouse's own assets consist of property owned before the marriage or acquired during the marriage, but not through work, gambling, or pecuniary benefits from copyright. Inherited assets...

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13 February
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Contesting a will in Croatia: reasons, deadlines & legal matters

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Inheritance law in Croatia regulates the transfer of assets after the death of a person, either by law or by will. Anyone can designate an heir and regulate their rights in a will. Here we explain why and how wills can be contested. reasons for contesting a will: Defects in the testator's will: A will can be contested if the testator made it under duress, threat, deception, or error. The application must be made within one year of becoming aware of the grounds for contesting the will, but no later than ten years after the will was made. Lack of prescribed...

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20 November
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Inheritance law in the republic of Croatia

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Inheritance law in the Republic of Croatia is regulated by the Inheritance Act. All natural persons are considered equal under the same assumptions in inheritance. Foreigners are, assuming reciprocity, equal in inheritance to citizens of the Republic of Croatia. Reciprocity is presumed until proven otherwise upon the request of a person with a legal interest in the matter. Inheritance occurs due to the death of a natural person and at the moment of their death. The person who acquires inheritance rights through their death is the heir. Every person is capable of inheriting unless otherwise specified by law. Whoever inherits a...

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10 November
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Liability for construction contract defects

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Building contract is actually a service contract whereby a contactor agrees to deliver building work according to the specific project within a certain deadline and a client agrees to pay a certain price in exchange. Each contract needs to include both subject and price. The subject of a building contract is a construction of certain building on the certain land or performance of other building works. Hereby houses, buildings, bridges, water- gates, tunnels, roads, sewage systems etc. are considered buildings. Common trade works where e.g., no change in the apartment structure was carried out, geological-exploration drilling or some isolation works etc....

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07 November
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Activity of non-residents by a permanent business unit

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It is known that some citizens have large amounts of money in bank accounts, while due to high inflation and low interest savings in the bank is currently not worth it. By keeping money in the bank, they are not making a profit, while at the same time inflation is reducing the value of the money saved because they can buy fewer and fewer products and services every day with the money they save, and this trend will continue in the future. To preserve the value of money, real estate investments are a good hedge against inflation and represent tangible and lasting value....

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07 November
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The Croatian Finance Agency -Credit Assessment of Debtors in Germany and Croatia

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FINA is the abbreviation for Financijska agencija and is a state financial agency in Croatia. FINA is a government agency where commercial register information, business accounts, business results, and liens in the form of credit reports can be requested for a fee. The Finance Agency keeps a register of all accounts of business entities and individuals, but the balances on the accounts are not known to the Agency, only the existence of accounts. The Finance Agency also maintains a register of payment bases, arranged chronologically by date as well as the exact time of receipt. In the event of...

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