How to get Serbian residency?
How to get Serbian residency?
Serbian residency
Immigrating to Serbia is always a good decision. The list of reasons is long, and we invite you to visit us and get in touch with the spirit of Serbia, that over the years has been a country located at the crossroads between East and West, has conquered the hearts of many visitors with its natural beauty and ethnic cuisine. Apart from enticing financial advantages, Serbia also offers a wide array of new laws, which can serve to facilitate personal and professional development for foreigners.
If you are a foreigner who wants to live and work in Serbia you must have Temporary residence.
The right to reside in Serbia can be realized in several ways:
- by starting a company or opening a branch of a company
- through the purchase of real estate in Serbia
- by investing in existing firms
For longer stays during which one engages in self-employment (for foreign citizens who intend to register as the entrepreneurs and employ in their own company), a suitable entry visa and a residence permit are required.
An entrepreneur is a physical person registered in the Business register agency for performing activities. The entrepreneur is registered as a form of the company by one physical person and it is set up to perform a business activity to make a profit.
Who can apply?
An entrepreneur may be a foreigner, a person who does not have a residence in Serbia.
The process of registration at the SBRA (Serbian Business Register Agency) for entrepreneurs is easy and cheap.
What are the requirements?
- To set up an entrepreneur in the business registers agency you have to submit to Welcome to Serbia only the certified copy of your passport.
The entrepreneurs do not have a contribution (share), an investment of their personal property for business purposes is not subject to registration at SBRA.
How many banks operate in Serbia?
There are many international banks operating in Serbia. Below you can find the list of the major banks that are currently here:
Western Europe: Banca Intesa, Unicredit, Erste, Raiffeisen bank, OTP. Russia: Sberbank, VTB, Expobank. Turkey: Halkbank. UAE: Mirabank. China: Bank of China.
What is particularly attractive is that Serbia does not have CRS reporting, meaning that this is one of the few places where privacy still exists.
What are the Taxes on income (profit) and social contributions?
- Tax on profit (net income) is paid on the difference between income and expenses (profit).
- The tax rate for entrepreneurs is 15%
- When profit is transferred to a personal account, an entrepreneur does not pay any additional tax.
- All physical persons in Serbia on the part of the personal net income which is higher than a 19,000 EUR has 10% of the annual income tax, and for personal net income higher than 35,000 EUR there is 15% of additional tax. Profit from the business activity of an entrepreneur is included in their net income
An entrepreneur who chooses to pay a personal salary to himself does not have to pay social contributions to a base higher than the lowest. The second option is to pay contributions to a base equal to the business result realized from the business activity, but again at least on the lowest base.
Inclusion of Family Members
The Serbia Residence applicant can include these family members when seeking temporary and permanent residence permit:
- Spouse,
- Persons living in a common-law marriage by following with the Serbian law and
- Children including adopted children under the age of 18.
What are the requirements for permanent residents?
Permanent residence can be obtained after 5 years of residence in Serbia.
What are the requirements for becoming a Serbian citizen?
- The naturalization process into Serbian citizenship takes in total 8 years. It requires at least 3 years of permanent residence, which itself takes 5 years before you can obtain permanent residence status.
What incentives are there for obtaining residency in Serbia?
- Apart from all the aforementioned benefits, Serbia allows you to live a freer life in light of less restrictive Covid-19 measures, including more freedom of movement and relatively unrestricted access to bars and restaurants. Despite the current situation in the world, our country allows its citizens to live a relatively normal life, with the same high standard of hospitality as always. However, we will endeavour to make your stay even more enjoyable by helping you obtain a residence permit or passport – if applicable.
Email: info@creativefinance.rs
