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Ownership of real estate in the territory of another country generally provides foreign citizens with a wide range of rights. These rights can vary depending on local legislative solutions, ranging from a golden visa, through temporary residence, to citizenship.

The Republic of Serbia is not an exception in this regard, as it allows foreigners who own property to obtain temporary residence, and under certain conditions, permanent residency and citizenship. Foreign citizens can acquire ownership rights over real estate (apartments and houses) in Serbia, under certain conditions.

THE RIGHT OF FOREIGNERS TO ACQUIRE PROPERTY OWNERSHIP IN SERBIA

Foreign citizens can acquire ownership rights over apartments and houses in the Republic of Serbia, provided that there is reciprocity. This means that only foreign citizens from countries that allow Serbian citizens to acquire property on their territory can purchase real estate in the Republic of Serbia. Additionally, foreign citizens can acquire property ownership in Serbia through inheritance, also under the condition of reciprocity.

The Law on Foreigners does not impose any restrictions regarding the location, price, or size of the real estate. Real estate is defined exclusively as apartments and family buildings or houses. This implies that owning land in the territory of Serbia does not entitle a foreigner to apply for temporary residence.

Since there are no restrictions on the value of the property, foreigners can purchase houses or apartments in the interior of Serbia, where the prices are not exorbitant and often do not exceed 30,000 euros. When buying a house in Serbia, foreigners acquire the right to purchase the land on which the house is built. In this way, foreign citizens not only gain ownership of a family house but also have the opportunity to own their yard, which greatly enhances the attractiveness of such transactions.

TEMPORARY RESIDENCE OF FOREIGNERS IN SERBIA BASED ON PROPERTY PURCHASE

The purchase agreement for real estate is notarized by a public notary. A foreigner can purchase the property in person by appearing before a public notary or through an attorney as a proxy. If the foreigner buys the property through an attorney, they must grant the attorney a power of attorney, which must be notarized abroad and duly legalized for use in Serbia. A foreigner acquires ownership rights to the property only after it is registered in the Real Estate Cadastre.

After concluding the property purchase agreement, a foreigner gains the right to apply for temporary residence of foreigners in Serbia. This does not apply to citizens of countries that require a visa to enter Serbia, as they must first obtain a long-term visa for Serbia (Visa D).

The request for temporary residence of foreigners approval is decided by the competent police administration for foreigners according to the location of the property. As a rule, a foreigner applying for temporary residence on this basis is granted a permit for a period of 3 years, with the possibility of extension.

A special benefit for foreigners who obtain temporary residence in Serbia based on property ownership is that they can work in Serbia without needing to acquire a separate work permit. The legislator recognized that this category of foreigners has such a close connection with Serbia that they are allowed to work in the country without undergoing additional procedures.

For more information on this and other matters related to foreign law, it is best to contact an attorney.