A foreign investor can acquire directly ownership over the real-estate property or indirectly acquiring shares in a Serbian company owing real-estate.
A foreign investor can directly acquire ownership of a building/part of a building provided that the following two conditions are met:
- Reciprocity between Serbia and the country of the foreign investor’s origin.
- A building/part of a building is necessary for conducting business in Serbia, which implies that a foreign investor has presence in Serbia either through a local company or through a branch/representative office.
A foreign natural person who is not conducting a business in Serbia may acquire ownership on a flat/residential building by purchase or inheritance, under the condition of reciprocity in both cases.
Source : PWC