You can obtain a residence permit in Serbia through real estate ownership after purchasing an apartment or house that is in habitable condition. You can apply for the permit immediately after registering your residence in the new property. Local legislation does not set limits on the amount of investment, so the cost of the property does not affect your eligibility for a residence permit. The purchased property not only serves as the basis for obtaining a residence permit but also represents a profitable investment because apartments and houses can be rented out with a gross profitability of about 5%. The average cost of housing in Serbia is about EUR 1,700 per square meter, which is considered inexpensive by European standards.
Foreigners who have obtained a Serbian residence permit (boravak) have the opportunity to live in a stable country with a welcoming attitude toward immigrants. They also have the prospect of acquiring Serbian citizenship and, in the future, an EU passport because the country plans to become a full EU member. Read on for more information on the requirements for applicants and properties, the purchasing process, and obtaining resident status for family members.
Advantages of obtaining a Serbian residence permit through real estate
There are many advantages to obtaining a residence permit in Serbia through the purchase of real estate, including:
- There is no minimum investment threshold for purchasing real estate;
- The opportunity to acquire residency for children under 18 and a spouse;
- Access to a simplified system for obtaining visas to Europe and other countries worldwide;
- No language proficiency requirements;
- Residence in a country with a stable economy and low taxes (income tax for individuals is 10-15%);
- Affordable local property prices;
- The opportunity to obtain a prestigious education;
- Access to high-quality banking and medical services;
- Obtaining permanent residence or citizenship after 3 years of residence in the country.
- Prospect of acquiring EU citizenship due to the country’s candidacy for European Union membership.
Requirements for residence permit applicants
Applicants planning to obtain a Serbian residence permit through real estate must meet the following requirements:
- Be of legal age;
- Have a passport with a validity period of at least 90 days beyond the term of the received boravak;
- Have funds available for the purchase of the property and for living in the country.
What type of real estate should you buy in Serbia to obtain a residence permit?
According to the republic’s legislation, a boravak can be issued to a foreigner who owns residential property in Serbia and has a place to live. It does not matter if the property is an apartment or a house, nor does the cost matter. It is not possible to obtain a residence permit by renting a home: if a foreigner rents a living space, it will not serve as a legal ground for obtaining a residence permit. Acquiring commercial real estate in Serbia does not entitle you to request a boravak; however, you may register your status on other grounds if you are doing business. In this case, there are no restrictions on the type, cost, or condition of the premises.
Foreigners are not allowed to purchase land in Serbia. This includes vineyards, vegetable gardens, gardens, ponds, fields, and other types of land plots on which there are no residential buildings. If there are residential buildings, then the restrictions are lifted, but it will not be possible to request a residence permit based on land ownership alone. You can purchase a plot of land, build a house on it, and then apply for a residence permit; however, this process takes much longer than obtaining a residence permit through the purchase of finished housing.
How to buy real estate and obtain a residence permit in Serbia?
- Find a property. You can search for real estate yourself or hire a realtor for help. At this stage, it is important to clarify all the details that interest you and then arrange a viewing with the owner.
- Travel to Serbia and proceed with the real estate purchase. Typically, foreigners need a visa to visit the country. To conduct a transaction requiring payment by bank transfer, you must open a Serbian bank account. To inspect the property, you must also agree on a meeting date with the owner in advance. If the property fully satisfies you, take the time to check that it is listed in the cadastre and that there are no outstanding issues. You can buy real estate in Serbia to obtain a residence permit through an agency. In this case, specialists will check all the necessary information.
- Draw up a preliminary agreement and make an advance payment. Once all the details have been agreed upon, a seller and buyer conclude a preliminary agreement, after which the buyer pays a deposit. The advance payment amount is not established by law; the parties agree on the amount, which is usually approximately 10% of the property price.
- Purchase the real estate. The procedure consists of the following stages: signing a purchase agreement, notarizing it, confirming ownership with a lawyer, paying taxes, and registering the property. As soon as the property has been transferred to the new owner, a foreigner can register there immediately by contacting the police.
- Obtain a residence permit. An application for a boravac is submitted to the Office of Foreigners or the local police department. The applicant must prepare a dossier including a valid passport, two photos, proof of registration, and health insurance. The applicant must also fill out an application, provide proof of funds to cover living expenses during the planned stay, and pay a state fee. Once the application is submitted, the passport will be stamped to certify that the documents have been submitted for a residence permit. The foreigner may then leave or remain in Serbia.
With a Serbian residence permit, enjoy the following benefits:
- The opportunity to work freely in Europe;
- The prospect of opening a business with low taxes;
- A residence permit in an EU candidate country;
- Social support from the state.
Leave an application and get a consultation with an immigration specialist
Resident status for family members
The right to obtain a residence permit in Serbia through the purchase of real estate extends to the applicant’s spouse and minor children. Family members can apply for a residence permit at the same time as the main applicant or after he or she has received resident status. You must provide a marriage certificate to register a spouse and a birth certificate for each child. When applying for temporary residence for minor children, both parents must be present. If this is not possible, a certified consent form from the other parent must be prepared in advance.
Processing times and costs of obtaining a residence permit
Obtaining a temporary residence permit takes about a month. After a year, the card becomes invalid, but the status can be renewed.
The costs of obtaining resident status in Serbia include the following payments:
- A state fee for a residence permit valid for 3 months to 1 year: EUR 154;
- Visa stamp (if required): EUR 3;
- Tax fee for issuing a card: EUR 3.75.
You can compare the requirements for obtaining a residence permit through real estate in different countries here.
Residence permit renewal and registration of Serbian citizenship
A boravac is valid for 12 months, at which point it requires renewal. You can receive the card as many times as necessary, provided that you maintain the basis for obtaining a residence permit. For example, if your residence permit was granted based on owning a home, you must still be the owner of Serbian real estate at the time of renewal. Applications for renewal of the residence permit must be submitted no earlier than 90 days and no later than 30 days before the expiration date on the card.
After five years, the boravac holder can apply for permanent residence. To obtain a permanent residence permit, you must pay a EUR 112 state fee, provide documentation proving ownership of residential real estate, demonstrate financial means to support yourself, and have health insurance. After three more years, a foreigner can apply for a Serbian passport.
Assistance with Serbian residence permit registration
Working with international lawyers at our company can help you avoid mistakes that people make when trying to obtain a residence permit on their own. Specialists can provide advice or full support for the immigration process.
are familiar with all the subtleties of Serbian legislation, monitor changes to it, and consider reasons for refusal. With their help, you can obtain residency in the shortest possible time..
