HOW TO BUY AGRICULTURAL LAND IN SERBIA
Given that we can hardly imagine a world in which the necessity for food could vanish, we could be pretty sure that agriculture and farming would play an important role as long as there are human beings on this planet. Also given that some highly developed countries have reached their peak levels of sustainable land exploitation, along with the prices of the same, any further meaningful expansion of profits would imply the purchase of farmland in other preferably less developed countries. And there we can see the trend of the purchase of agricultural land in the Eastern part of Europe, which has caused in some situations multifold price rises of the land in a span of just several years. So, where that puts Serbia in this story? Well, despite the existence of elevated prices in the previous years, the costs of acquiring a hectare of land here is still significantly under levels of Western Europe. And that leaves us to the main question of how to buy agricultural land in Serbia.
First, let’s deal with obstacles until we come to a possible solution. Serbian Law on agricultural land in its very first article clearly states that no foreign person or business entity can own agricultural land in Serbia. Later down the road same law stipulates some exceptions for citizens of the EU, allowing them to acquire Serbian farmland if certain conditions are met. However putting those requirements as a minimum of 10 years of prior living in the municipality where the land is located and a minimum of 3 years of prior cultivating of the same land which is intended for purchase, among a couple of other conditions, rather put the things on improbable plain. So, it is clear that even if you are an EU citizen obtaining adequate soil for cultivation is an issue in Serbia.
Fine, now let’s come to the solution of how to buy agricultural land in Serbia if you are not a citizen of this country. Although as mentioned, Serbian Law on agricultural land prohibits outsider ownership in terms of foreign individuals and business entities, it makes no special requirements in terms of Serbian companies. What that means is that domestic companies can purchase agricultural land in Serbia without limitations, even in cases when they are owned and represented by foreign persons or companies. So, if you wish to buy farmland here, you just need to form a Serbian company or purchase an existing one and open for yourself a great possibility to tap into the still affordable yet qualitative world of our local agriculture.
In order for any misunderstandings to be avoided, do note that this story deals strictly with the possibility of purchase of agricultural land or farmland in Serbia, while obtaining construction land, houses, or apartments by foreigners is almost not limited at all and more about that process you can read in our blog on Real estate in Serbia. In conclusion, if you were thinking of buying agricultural land in Serbia, feel free to ask for our assistance and in that manner check our Website, our Homepage, especially our Contact page, while with our law office in Belgrade, law office in Novi Sad or other law offices, we are glad to be at your disposal.