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Legal Articles

Law firm Vaić & Dvorničić Ltd. > Legal Articles (Page 8)
09 March
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Bankruptcy in Croatia

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in Bankruptcy law, News

Financial instability is present in European as well as in Croatian capital market. Therefore legal persons are much more careful when entering into new business. One must always bear in mind the possibility of bankruptcy of his/her business associate. Thereat, all legal persons must be aware of certain legal consequences of bankruptcy: If the bankruptcy creditor, over the last sixty days prior to the bankruptcy petition or afterwards, by courts enforcement or by forced courts insurance, obtains a separate satisfaction right or similar right on debtors property within the bankrupt’s estate, this right ceases i.e. the ongoing procedure stops when bankruptcy...

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09 March
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Alterations in tax laws

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in News, Tax law

In February 2012, the Government of the Republic of Croatia adopted the whole package of tax law alterations that significantly change the taxpayer’s position. With the Value Added Tax (VAT) Act being changed and the current 23% tax rate increased on 25%, certain amendments to the Profit Tax Act, Income Tax Act and Contributions Act were also adopted. New, higher standard VAT tax rate of 25% entered into force on 1st March 2012 as well as a lower VAT tax rate of 10% set for edible oils and fats, children’s food, water and white sugar. From 1st January 2013 this lower...

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09 March
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Act on the time limit for performance of a monetary obligation

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in News

Act on the time limit for performance of a monetary obligation entered into force on 1st January 2012, and therefore, the provision from article 174 of the Civil Obligations Act, ceased to have effect. According to this, now invalid provision that refers to commercial contracts, the debtor was liable to fulfill his monetary obligation within 30 days, unless a (shorter) time period was determined by the commercial contract. This Act now defines the time limit for performance of monetary obligations among the entrepreneurs themselves, i.e. the entrepreneurs and corporate bodies under public law, it defines legal consequences of late payments, with...

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07 March
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Acquisition by adverse possession of ownership shares

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in Property law, Real estate law

As one of the ways of acquiring the ownership of real estate under the law is the acquisition by adverse possession. It is an institute based on exclusive possession for a statutory period, where the title to real property is acquired by the disseisor who holds the property lawfully, truly and in good faith for ten years continuously or only in good faith, when the law requires twenty years of continuous possession. Regarding the possession of real property owned by the Republic of Croatia, county and local governments and legal persons with equivalent rights, as well as the goods owned by...

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07 March
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Business of non-residents through permanent business unit

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in Commercial law, Tax law

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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in Administrative law, News

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 Land registry law, Real estate law

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 business operations

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in Commercial law, Criminal law

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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06 March
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Acquiring Croatian citizenship for foreigners

Posted by Vaic
in Administrative law, News

This article addresses the procedure for acquiring citizenship for personswho do not have some form of connection with the Republic of Croatia (suchas belonging to the Croatian folks). Acquisition of citizenship is regulated by the Law on Croatian Citizenship, and according to this law citizenship can be acquired in 4 ways: by origin by being born on the territory of the Republic of Croatia by naturalization under international agreements A person who is not a member of the Croatian folks, an expatriate or a descendant of the expatriate may acquire Croatian citizenship by naturalization. A foreigner who has applied for admission to Croatian citizenship by naturalization can...

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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 Family law, Property law, Real estate law

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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