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More and more people are choosing to make a new country their home. Some of those are choosing so called “golden visa” programs to speed up the immigration process.

While Serbia might not be on your shortlist for new home options, the Serbia citizenship by investment program is a good option, and well worth a look. Here’s what you need to know.

Citizenship by Investment in Serbia

Like many countries, Serbia has chosen to create an immigration stream that gives accelerated processing and drops some of the usual immigration requirements for high-net-worth individuals.

Like others, the Serbia golden visa requires you to make an investment in a government approved program or property type, and in exchange, you don’t need to prove your educational credentials, have a job or be accepted to a education program. It also allows you to bypass temporary and even permanent residence, and successful applicants will actually get a Serbia passport by investment through this program.

This is a big deal, because most golden visa programs don’t even give you permanent residence, and it can be several years before you can apply for permanent residence or citizenship. So, the Serbia citizenship by investment program saves you time and money.

Benefits of Serbian Program

There are several benefits to the Serbia golden visa program, including:

• It’s open to EU and non-EU residents
• There are several options to support your application, including starting a business, buying property, or making a financial investment
• Your family can accompany you
• It only takes about three months to complete the process
• A Serbian passport will get you visa free travel to over 130 countries
• Serbia is a stable country with a strong, growing economy

In addition to these benefits, the investment required for the Serbian program, at 250,000 Euros, is lower than many other countries with golden visa programs.

Requirements

Like most immigration programs, when you apply for citizenship by investment in Serbia, you need to meet general immigration requirements, which means you can’t be a security threat, you can’t have a criminal record, and you need to have enough funds (besides your investment) to be able to support yourself and your accompanying family in the country.

However, citizenship by investment programs like the Serbia golden visa also have specific requirements, which include:

• You need to be 18 years or older
• You need to invest 250,000 Euros or more in purchasing property in Serbia
• You need to make a 250,000 Euro donation to the government – which is not refundable
• You need to spend at least 500,000 Euros in a business in Serbia, and you need to employ at least four local people at that business

None of the figures stated here include the costs to apply or any other costs related to the process, and of course, you also have to have enough money to support yourself and any family that accompany you when you arrive in Serbia.

The good news is that when you apply for the Serbia golden visa program, you don’t need to prove your educational credentials or business acumen, like you do for some economic immigration programs.

Does It Apply to All Family Members?

Yes. The Serbia golden visa program allows principle applicants to bring their spouse, children and parents with them when they move to the country. Each person does need to complete an application package though, and must meet minimum immigration requirements.

Procedure

If you want to apply for Serbia citizenship by investment, you first need to decide which of the investment options you want to use to support your application, and make the investment.

You then need to complete your application and the application for anyone who is accompanying you, including all required documents, and submit it to the Serbian government. You will need to pay the application fees, which are 25,000 Euros for property or donations, and 50,000 Euros for the business investment option. There is also a 7,500 Euro due diligence fee for your application.

Additional fees will apply for any accompanying family members, but are lower than the primary applicant.

The Serbian government will review your application, make sure you are eligible for citizenship in Serbia, and if you are, they will issue the paperwork that will allow you to get a Serbian passport and move to the country.

One of the conditions of the Serbia golden visa program is that you must maintain your investment in property or business for five years after you are awarded citizenship.

Serbian Citizenship

Currently, the Serbian passport can get you visa free travel to many countries, including many in the Schengen region of Europe. Serbia is also in the process of applying to be part of the EU. Once that happens, there will be even more travel options in Europe.

As a citizen of Serbia, you will be eligible for all government social programs, and to work, study and live in the country indefinitely.

Residency in Serbia

Residency in Serbia means that you are physically present in the country. It is also a term that covers several other legal statuses other than citizenship.

Once you are a citizen of Serbia, you don’t need to be present in the country for any specific amount of time every year to retain your citizenship – however, if you were a temporary or permanent resident of the country, there would be residency requirements.

Why Invest in Serbia?

While it might be an “under the radar” option for citizenship by investment, Serbia is actually a very attractive investment destination – and not only for people who want to move there. It’s a growing economy that has close ties and trade agreements with many countries in Europe, and there is a favourable tax system that benefits companies and individuals. Other reasons to consider investing here, either with or without the Serbia golden visa are:

• The population is generally young and well educated, so it’s easy to staff a business
• It’s affordable not only to live in Serbia, but also to set up a company
• Around 70% of FDI in Serbia is from EU countries, and there are very strong ties between Serbia and many other European countries
• The rest of the investors in Serbia include Switzerland and Hong Kong
• In 2019, about 44 billion US dollars was invested in Serbia by foreigners
• Serbia has equal business and investment opportunities for foreigners and locals
• Serbia is considered 44^th out of 190 countries according to the 2020 Doing Business Report – so the business environment is very favourable to companies and entrepreneurs

Like many growing, developing economies, Serbia goes the extra mile to make doing business easier, so they can attract more investment and entrepreneurship. So you can expect less red tape and a smoother, easier path to launching a company, if that’s what you choose to do.

FAQ

Where is Serbia?

Serbia is located south of Hungary, and is considered one of the “gateway countries” between eastern and western Europe.

What are the biggest cities in Serbia?

Belgrade is the capital of Serbia, and currently, it has over 1.3 million residents. The next largest city is Novi Sad, which is significantly smaller, and is home to nearly 280,000 residents. Next are Niš, and Kragujevac, and then several other cities that have over 100,000 residents.

Most bigger cities in Serbia have all the modern conveniences and amenities you would expect from any other city in Europe.

What languages are spoken in Serbia?

The official language in Serbia is Serbian, but many people also speak Hungarian, Bosnian, Romani, Croatian and other languages. English is less commonly spoken, but generally, if you are in the bigger cities, you can get by without learning another language immediately.

What is Serbian healthcare like?

Healthcare is an important factor when you are deciding where to live, and like much of Europe, Serbia has comprehensive national healthcare that is free for citizens. So, when you apply for a Serbia golden visa, you will be able to get free medical care for yourself and your family when you need it.

What is education like in Serbia?

The Serbian education system is good, but unlike many countries, there are only 9 years of compulsory schooling – although many people continue to complete high school and attend tertiary institutions. Schooling starts when children are 5 ½ years old or older.

What are Serbian people like?

Serbian people tend to be very friendly and open. They love to talk and laugh and are usually considered very hospitable. Which means that if you are a newcomer in the country, you should have no trouble finding someone to show you around your new home.

Does Serbia allow dual citizenship?

Yes. Serbia allows you to retain citizenship of your home country when you take up citizenship in the country. You can also have citizenship in more than one country. Of course, this also depends on the dual citizenship policy of your home country, so you might still have to renounce your original citizenship if you are taking up Serbian citizenship.