Residence Permit and Tax Residency Through Making Investment in Real Estate

When considering investment migration programs, the Republic of Serbia offers a compelling option. A democratic European state in the central Balkan Peninsula, Serbia boasts a rich cultural and historical heritage. It provides an affordable way to obtain legal residence permits and tax residency through real estate investments. In this article, you will find information on the costs of professional services provided by licensed immigration agents, as well as the procedure and documents involved in submitting the corresponding applications.If you need to sell house fast, our streamlined process ensures a quick and hassle-free sale, getting you the best value in record time.

Terms for Obtaining Serbian Residence Permits Through Real Estate Investment

Under Serbian law, foreigners can obtain residence permits by living, conducting business sell my house fast in riverside, or having vital interests in the country and spending at least 183 days in Serbia within 12 months. Those meeting these requirements can apply for tax residency certificates from the Serbian tax authorities.

One way to prove vital interests is by purchasing real estate, such as an apartment or house, with no minimum investment threshold. Property prices in Serbia start from 10,000 EUR, offering affordable options for applicants.

Application Procedure for Serbian Residence Permits

The standard application procedure for a Serbian residence permit takes about eight weeks, requiring one or two two-week visits to Serbia to handle formalities. However, getting the support of a professional agent can considerably reduce your hassle and costs. The initial permit is valid for six months, with subsequent permits lasting one year.

Required Documents for Serbian Residence Permits and Tax Residency

To obtain a residence permit and tax residency through real estate investment, a foreign investor must first purchase the property. Engaging a licensed immigration agent can minimize risks and ensure the best options from verified listings. Additional fees include a 3% real estate agent’s commission. It is advisable to hire a local lawyer for further steps, either in your country or in Serbia. A limited Power of Attorney (POA) is needed for the lawyer to handle verifications and paperwork. If issued outside Serbia, the POA must be translated into Serbian and apostilled by professional translators to ensure timely delivery.

Filing for a Temporary Residence Permit

Applying for a temporary residence permit (the “White Card” or a long-term visa) requires the investor to be present in person and typically takes one day. The permit will be stamped on your passport. The application procedure usually takes 2-3 days, including an interview. After you submit the application, there is a two-week waiting period for the Customer Due Diligence (CDD) process, during which the Serbian police hold the passport. No medical examination is required for a residence permit and tax residency in Serbia.

The application procedure and documents

Investment in real estate

Purchasing real estate in Serbia can take about seven days and can be handled by a local specialist acting on your behalf under a limited power of attorney. Here are the steps involved:

• Property Selection: We provide a list of thoroughly vetted properties that match your requirements.
• Contract with Immigration Agent: If needed, you will sign a contract with a local immigration agent and issue a Power of Attorney (POA) in the agent’s name in your country or Serbia. The POA will authorize the agent to perform all necessary verifications and procedures related to the real estate purchase. If executed abroad, the POA needs to be translated into Serbian, notarized, and apostilled.
• Real Estate Purchase: Additional expenses, including a real estate agent’s commission of up to 3%, apply. The purchase agreement must be signed in the presence of a notary.

Obtaining the Residence Permit: Documents

To apply for a Serbian residence permit, you need to provide proof of real estate ownership, such as an extract from the Serbian Real Estate Cadastre or a purchase contract. Open a personal bank account in Serbia, deposit a minimum of 1,500 EUR, and obtain a stamped certificate from the bank, a process usually included in our service package. You will need two 4×3 cm photographs, which can be taken in Belgrade, and your CV translated into Serbian, which we can arrange if it is in another language. Local health insurance is required, costing between 200 and 450 EUR per year, depending on age; those over 50 must undergo a 12 EUR medical examination. Register your temporary address at the local police station to obtain the “White Card.” We will arrange and accompany you to the Immigration office, where the process, including an interview, may take up to two hours. After submitting the documents, you can move freely around the country. Within a month, return to get the residence permit stamped on your passport. Upon receiving this stamp, an individual taxpayer number (TIN) is issued at the local tax office. Following this, you will need to secure a work permit. After residing in Serbia for more than 183 days, you can obtain a tax residency certificate from the Serbian Tax Office.

Costs

1. Annual Property Tax: Up to 0.4% of the property’s market value, starting from 50 EUR per year.
2. Personal Health Insurance: Approximately 300 EUR per year.
3. Electricity and Utilities: Around 300 EUR per year.
4. Occasional Expenses: About 600 EUR per year, including receiving correspondence and selecting a room.
5. Total Costs: From 1,000 EUR per year.

Overall Cost and Services

You can save time and money by engaging a trusted and licensed agent specialized in Serbian investment migration. Their services include:

• Assistance with filling in all necessary forms.
• Registration at the Serbian police department for up to 90 days (the “White Card”).
• Professional translation of documents into Serbian (20 EUR per page, optional).
• Payment of state fees for immigration registration.
• Assistance in choosing and verifying investment property.
• Opening a personal bank account.
• Registration of documents at the Serbian Tax Office for tax residency confirmation.
• Getting the residence permit stamped in your passport.

Visit the Serbia Wealth portal to learn more about the additional services we offer, such as legal and administrative support and accounting or tax consultations.