The purchase of a property in Serbia, whether as a national, foreigner or company, is made under the provisions stipulated by the Property Law Relations of 1996, with a particular condition that is strictly forbidden to acquire a residence or a land near a military area in the country.
Rules for foreigners who want to buy a property in Serbia
Persons who do not have residency in Serbia and are interested in buying buildings or lands for commercial purposes can do so and can have complete ownership of the assets. As for the persons who have reciprocity restrictions, they can first register a business in Serbia and then can purchase a building, an apartment, a plot or a commercial office space. Each kind of acquisition is settled through an agreement signed by the seller and the future owner, but before that, the entire history of the property must be verified in order to see if there are any debts or related obligations.
How can a property be acquired in Serbia?
The property acquisitions in Serbia involve simple steps which can be found in the sale agreement signed by both parties. It is suggested to consider the following aspects:
• a notarized preliminary purchase contract is signed in front of the authorities in charge;
• the title of deed is verified by a Serbian lawyer;
• the final agreement is then prepared for signing in front of the notary;
• the Inland Revenue Office settles if the value of the asset is in accordance with the offered price;
• the buyer must pay the property tax of 5% from the price of the acquisition;
• the property is then registered with the Area Property Registry.
Please keep in mind that any legal aspect can be explained by our Serbian attorneys as soon as you have decided for a particular acquisition in Serbia, whether as an individual from abroad who wants to establish in the country or as a representative of a foreign company interested in opening a branch or a subsidiary.
Who can purchase a property in Serbia?
All foreign investors or foreign citizens interested in Serbian properties can acquire different kind of assets, as long as they aren’t owned by the state. The legislation is permissive for foreigners willing to buy properties in this country, but it is best to ask for legal assistance before taking any decision in this direction.
What types of properties can you buy in Serbia?
Luxury real estate, agricultural lands, commercial office spaces (garages, warehouses, storages), studios, apartments, and houses are among the properties which can be bought by foreign entrepreneurs in Serbia. The prices vary, depending on the chosen location and facilities.