Attracting more and more foreign investors with each coming year, Serbia has significantly grown in popularity as a destination that can become your second home or business hub. Thanks to its favorable business environment, beneficial location, and EU integration prospects, interest in this European state is never-ending. With its multiple incentives for investors who want to establish or expand their business activities in Serbia, including, inter alia, low taxes, free trade agreements, a skilled workforce, and access to regional markets, Serbia is a place well worth your time and efforts. Go ahead and invest them in receiving a local residence permit! The document allows its holders to not only fully enjoy these advantages but also stay and work in Serbia with no worries in the world.
Why investors choose Serbia
One of the primary reasons investors are recommended to obtain a residence permit in Serbia is to secure long-term residency rights in the country. A residence permit affords investors the privilege of living, working, and traveling in Serbia without any constraints. Offering a sense of stability and security for investors and their families, it allows them to plan the future with confidence. With this newfound confidence, investors holding Serbian residence permits are then encouraged to actively engage in the management and expansion of their business ventures. This implies overseeing operations, meeting with partners and clients, and tapping into local resources to promote business growth.
Would you like to capitalize on the autonomy and authority over your Serbian enterprise? It is completely possible! Establishing a local company enables investors to secure a residence permit tied to their business activities, affording them complete control and ownership over their enterprise. This means you are free to determine the legal framework, organizational structure, and operational strategy of the business, along with the allocation of profits and assets. In Serbia, investors enjoy reliable protection of their property rights and interests, supported by the efficient Serbian legal system and institutional framework.
Let’s move to square three. Yet another compelling motive for investors to obtain a residence permit in Serbia is to gain access to the Serbian market and beyond. With a Serbia-incorporated company, investors enjoy an opportunity to penetrate the domestic market with a population of approximately 7 million and a GDP of USD 51 billion or so. Evidently, it is no secret to you that Serbia exhibits burgeoning consumer demand, particularly evident in IT, agriculture, energy, tourism, and manufacturing. Investors are flocking there to capitalize on the advantageous free trade agreements that Serbia has made with numerous countries and regions, including the EU, Turkey, China, and CEFTA. The above treaties facilitate the exportation of goods and services to these markets, exempting them from tariffs or quotas and thereby amplifying their competitiveness and profitability.
Although they say good things come in threes, we will give you a fourth one. With a residence permit in Serbia, you’ll savor the country’s superb quality of life and rich culture. Serbia stands out for offering a lifestyle characterized by affordability and high-quality modern infrastructure, alongside its multiple natural and historical wonders. The nation boasts a rich cultural scene, underscored by a profound sense of identity, tradition, and hospitality. By immersing yourself in Serbian life, you will embrace the local way of living, learn lots of new fascinating things about the country’s language, and engage with the warm-hearted yet resilient local people, known for their friendliness.
Real estate investment for a residence permit in Serbia
If you are no business shark, you can still get a residence permit in Serbia by purchasing real estate in the country. To achieve your goal in 2024, follow these specific requirements:
- Be a citizen of one of the over 70 eligible countries that have visa-free agreements with Serbia, or hold a valid US, UK, or Schengen visa.
- Make a purchase agreement for a property in Serbia, and register the property with competent authorities. The property may be residential or commercial, and the value does not matter, as long as it is registered and taxed in Serbia.
- Open a personal bank account in Serbia, and transfer the funds for the property purchase to the account. The funds must be from a legitimate source, and the transaction itself transparent and traceable.
- Apply for a temporary residence permit at the police station in Serbia that is competent for the place of residence or stay, or online through the eServices portal. Submit your application within 90 days of entering Serbia, together with the following documents:
- your valid passport
- health insurance policy
- proof of accommodation (purchase or lease agreement)
- proof of sufficient funds (bank statement).
- Pay the temporary residence permit fee and wait for your application to be processed, which is usually between 30 and 60 days. The temporary residence permit is valid for one year, and you can renew it before it expires.
- Register your residence address with local authorities within 24 hours of arrival, and inform them of any changes within 3 days.
Other options
- Employment: To obtain a residence permit based on employment, the investor must either have a work permit and a contract with a Serbian employer, or a certificate of self-employment if they work independently.
- Education: The investor will need an admission letter and a certificate of enrollment from a Serbian educational institution, or a scholarship confirmation if they are a student.
- Business: A registration certificate and a TIN of your Serbian company, or a proof of investment is all it takes to apply for a residence permit in Serbia as a business investor.
- Family reunification: To get a residence permit based on family ties, the investor must have a marriage or a birth certificate confirming they are related to a Serbian citizen or a resident.
- Humanitarian reasons: Do you need a residence permit based on humanitarian grounds? This is possible if you fall into one of these investor categories: refugee, asylum seeker, human trafficking victim, or humanitarian protection beneficiary. NB: At the same time, be prepared to produce a special approval from the Ministry of Interior.
As you see, nearly everyone can have a go here. If you don’t feel like handling all the paperwork yourself, entrust the job to Serbia Wealth! Our expert team will do everything necessary for you in no time.
Matthew is a seasoned researcher and writer with over five years of experience creating engaging SEO content. He is passionate about exploring new ideas and sharing his knowledge through writing. Matthew has a keen eye for detail and takes pride in producing content that is not only informative but also visually appealing. He constantly expands his skill set and stays up-to-date with the latest SEO trends to ensure that his content always performs well in search rankings. Matthew can be found reading, surfing, or experimenting with new recipes in the kitchen when he’s not writing.
