Provisions of the Law on Foundations of Property Law Relations (“Official Gazette of the Socialistic Federal Republic of Yugoslavia”, No. 6/80, 36/90, “Official Gazette of the Federal Republic of Yugoslavia”, No. 29/96 and “Official Herald of the Republic of Serbia”, No.115/2005 – other Law) regulates the right of foreign persons (natural and legal) to acquire the right of ownership on real estate in the territory of the Republic of Serbia, legal transactions inter vivos (contract of sale, contract of gift, contract of lifetime support, etc.) and legal transactions mortis causa (by inheritance).
Acquisition of real estate by legal transactions among the living (inter vivos)
The conditions for acquiring real estate through legal transactions among the living (inter vivos) differ depending on whether foreigners in the Republic of Serbia perform their activity or not.
A contract on acquiring the right of ownership over immovables may be certified if requirements provided in provisions of Article 82a of the Law on Foundations of Property Law Relations (“Official Gazette of the Socialistic Federal Republic of Yugoslavia”, No. 6/80, 36/90, “Official Gazette of the Federal Republic of Yugoslavia”, No. 29/96 and “Official Herald of the Republic of Serbia”, No.115/2005 – other Law) for acquiring the right of ownership have been met, and that:
- Foreign natural persons and legal entities conducting a business activity in the Republic of Serboa may, under the terms of reciprocity, acquire ownership rights on such immovables as are necessary for conducting of such activity (paragraph 1), and
- A foreign natural person not conducting a business activity in the Republic of Serbia may, under the terms of reciprocity, acquire ownership rights over a flat and an apartment building, as may a citizen of the Republic of Serbia (paragraph 2).
Continue reading The right of foreigners to acquire immovable properties in Serbia