11.07.2017

Serbia: regulations for the sale of farming lands


Foreigners wanting to buy farmland in Serbia must be in possession of a residency permit for at least seven years, whereas legal people must be registered with the Serbian Republic’s Agency for Commercial registers for at least five years.  This is indicated in the draft of the law on farmland.  The work group of the Ministry of Agriculture that is making the proposal should complete the draft of the law in a short time and the new law should be in effect by September 1st, 2017.
 
The Serbian government must still define certain points of the reform, like for example how much time foreigners must be legally linked to Serbia before they may legally buy land or, if authorized, the purchase only of a maximum dimension of land, that could be 100 hectares.  Furthermore it is possible that foreign investors will be required to have worked in the agribusiness sector for at least five years.  Currently, Serbia is the only country that has liberalized the purchase and sale of farmlands during negotiations to join the EU.
 
Source: Serbian Monitor