Publisher: Bojović & Partners

The latest Newsletter: Purchase of agricultural land in Serbia still restricted

The latest Newsletter: Purchase of agricultural land in Serbia still restricted

As a general rule, agricultural land cannot be owned by foreign persons in the Republic of Serbia, whereas EU citizens should have been allowed to own agricultural land based on the Stabilization and Association Agreement. However, the latest amendments to the Law on Agricultural Land does not abolish the restrictions for EU citizens.

By these amendments, EU citizens may purchase up to two hectares of agricultural land, if they have at least 10 years of residence in Serbia within a local government unit in which they want to purchase the land, cultivate the respective agricultural land for at least three years, and have adequate machinery and equipment.

EU citizens may not own agricultural land located less than 10 km away from the Serbian border.

The amendments came into force on 1 September 2017.

Nevertheless, it should be noted that a foreigner may always establish a company in Serbia being entitled to purchase agricultural land without limitation.

To read more please follow the link.