The Digester

Investigations into the Vista Rica alternative investment fund set up in 2023 show shareholders and investors tied to Serbia's ruling party and businesses that won major state contracts, prompting probes into possible tax avoidance, money laundering and claims of political pressure on regulators.

Vista Rica is an alternative investment fund set up in 2023 after a 2022 tax change lets high earners pay up to half their annual tax into AIFs.
Investigations by BIRN and the Radar weekly link the fund's managers and investors to people close to President Aleksandar Vucic and the ruling SNS party.
Radar reported that Tatjana Vukic holds a 50% stake in the fund's management company and Vojislav Nedic holds 25%.
Reported investors include President Vucic's brothers, Finance Minister Sinisa Mali, and former Prime Minister Ana Brnabic.
Journalists say companies that won large state tenders after 2012, such as Prointer and Millennium Team, are among those connected to the fund.
Serbia's anti-money-laundering agency opened a probe after a bank flagged an attempted cash withdrawal of about €1 million, a former APML official says she faced political pressure and was later dismissed, and the Prosecutor's Office for Organized Crime is examining related financial flows.

Vista Rica revelations expose Serbia elite ties to new tax-break fund

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