This is an article in our series on doing business and living in reliable jurisdictions. Bojan Timotijević from “Welcome to Serbia” Association – our partner company from Belgrade – talks about the ways to obtain a Serbian Residency through opening a company and buying real estate.

Key Points: Serbian Residency

• No requirement to speak the Serbian language
• Permanent residency can be obtained in 5 years
• Residency via the incorporation of a Serbian company, or via an offshore company branch in Serbia or buy purchasing real estate with no minimum investment
• Simple procedure based on strict laws
• Only 2 visits to Serbia required
• Very favourable company and personal tax systems
• Straight and fast bank account opening (as fast as 7 – 10 days)
• Serbia has free trade and custom free agreements with the EU, Russia, Turkey etc. (total of 1.1bn consumers)
• Availability of high-quality and not expensive labor
• Low operating costs compared to popular jurisdictions

Tax Overview

Personal Tax. Starting at 10% (on global income)
Real Estate Tax. Usually not more than 0.4%
Wealth Tax. 0%
VAT. 20%
Inheritance and Gift Tax. 1.5 – 2.5%
Corporate and Dividend Tax. 15%

Serbian Residency via Serbian Company

To be granted with Serbian residency, an applicant is required to run a Serbian company. The annual company related fees starts from EUR 2.900, including registered office, book-keeping, VAT and tax statements, and auditing.

To obtain and secure Serbian residency, an applicant must further retain a Serbian address. For an annual all-in rental fee of EUR 2,000, an apartment located in Belgrade is provided and managed upon request.

Please note that the main applicant receives Serbian residency after around 45 days. After residency is granted to main applicant, application procedures for the immediate family members commence, taking an additional 45 working days for them to receive Serbian residency.

After holding residency for at least 5 years, permanent residency can be obtained.

Serbian Company Incorporation

Step 1 – Due diligence and company setup (2 working days)

• Completed questionnaire;
• Passport copy;
• Proof of address (issued by a government institution, such as tax authorities, police, etc., or utility bill);
• Limited power of attorney, provided to a law firm (general version and Serbian translation: signed, notarized and apostilled by a notary, or legalized by the Serbian embassy / consulate).

Step 2 – Verification of the articles of incorporation (1 working day)

Notarization of a standard form of the articles of incorporation (can be done via Power of Attorney).

Step 3 – Registration in the Serbian Business Registration Agency (3 working days)

Can be done via Power of Attorney.

Step 4 – Providing an address for the company and for personal residency (3 working days)

Renting or purchasing an office and apartment.

Step 5 – Opening a company bank account (7 working days)

• Note: All bank account opening forms must be signed personally (in Serbia or via mail by the person who will control the account);
• Notarization of the form Sample of Signatures: (must be signed personally).

Residency

Two visits in Serbia required; first to pick up “White Card” and to file application, second to pick up residency permit in 30 to 35 working days.

Step 1 – White Card (1 working day)

“White Card” obtainment: (together with apartment owner and apartment lease agreement, ID card of apartment owner and proof of ownership)

Step 2 – Application for residency (35 working days)

• Visa D (if required)
• Passport copy;
• Bank account statement of personal Serbian account with a balance of minimum EUR 1,500 in any currency in order to prove the “Means of support” (certified);
• Bank account statement of Serbian company (certified);
• Extract from registry of Serbian company;
• Serbian health insurance policy;
• Curriculum vitae (translated to Serbian);
• Two passport pictures;
• Residency application interview;
• Security check run by police (can take from 15 to 30 working days, passport is given back to applicant after filing of application and interview).

Step 3 – Work permit (5-7 working days)

• Residency permit;
• Diploma copy (original version, and second version translated in Serbian: notarized and apostilled by a notary);
• Certificate from Serbian Business Registration Agency;
• Curriculum vitae (translated in Serbian).

Serbian Residency via Real Estate Ownership

To be granted with Serbian residency, an applicant is required to own a real estate in Serbia.

In order to acquire ownership client needs to be a citizen of country which has signed bilateral agreement on reciprocity of real estate ownership with Serbia. State of Serbia has this agreement signed with more than 75 countries.
Please note that the main applicant receives Serbian residency after around 45 days. After residency is granted to main applicant, application procedures for the immediate family members commence, taking an additional 45 working days for them to receive Serbian residency.

After holding residency for at least 5 years, permanent residency can be obtained.

Ownership acquisition

Step 1 – Due diligence

• Real estate selection;
• Due diligence of the ownership;

Step 2 – Legal procedure (1 working day)

• Preparation of contract:
• Certification of contract in from of competent local notary (Can be done via Power of Attorney)

Step 3 – Payment

Transferring funds for the purpose of purchasing of property in Serbia (Transfer can be done from foreign bank as well)

Step 4 – Cadastrial registration

• Obtaining certified confirmation of payment from seller
• Paying tax on the transfer of ownership to the tax administration (2.5% from the agreed price)
• Submission of documents to the local cadastre

Residency

Two visits in Serbia required; first to pick up “White Card” and to file application, second to pick up residency permit in 30 to 35 working days.

Step 1 – White Card (1 working day)

“White Card” obtainment (with the aforementioned certified agreement)

Step 2 – Application for residency (35 working days)

• Visa D (if required)
• Passport copy;
• Bank account statement of personal Serbian account with a balance of minimum EUR 1,500 in any currency in order to prove the “Means of support” (certified);
• Serbian health insurance policy;
• Curriculum vitae (translated to Serbian);
• Two passport pictures;
• Residency application interview;
• Security check run by police (can take from 15 to 30 working days, passport is given back to applicant after filing of application and interview).

---

Read also:

Awara Guide on opening bank accounts in UAE, China, Serbia, Armenia, Türkiye

---

Our Contacts

info@awaragroup.com

+7 495 225-30-38 Moscow
+7 812 244-75-49 Saint Petersburg
+7 495 225-30-38 Tver