Photo: freepik.comMore and more foreign citizens, most of whom are Russians, decide to buy real estate in Belgrade. The real estate agency City Expert explained what is needed from the documentation for the purchase of an apartment in Serbia when it comes to foreign citizens:
REGISTRATION OF STAY
After you step onto the soil of Serbia, the first thing you should do is take out the White Card, that is, register your stay. The Police Department for the City of Belgrade, the Department for Foreigners at Savska street 35, is responsible for reporting foreigners in Belgrade. As a foreign citizen, you are obliged to report your stay and change of address to the competent authority within 24 hours of your arrival at your place of residence, and you can also electronically, on the Euprava portal.
OPENING AN ACCOUNT IN THE SERBIAN BANK
After you have reported your residential address to the police, it is time to open an account in a Serbian bank. To open an account, you need a passport and a confirm of a registration of stay.
EXCERPT FROM A MARRIAGE REGISTER
If you are coming to Serbia with your spouse, you need a certificate of marital status or proof that you are not married. Of course, the basic document is a passport, and in addition, two witnesses and a court interpreter are required. All documents, except the passport, must be translated into Serbian by a court interpreter, and you must have the original documentation with you.
WITNESSES AND LICENSED TRANSLATOR
Witnesses are needed when certifying at a notary, because of the language barrier, but also to guarantee that they really signed what they were told. The best advice for a foreign citizen is to ask his two friends, who are already in Serbia, to be his witnesses, and if not, witnesses can be rented, and their price is 3,000 dinars per person. Also, the court interpreter charges for his services from 60-80 EUR per started hour.
PRE-CONTRACT FOR CREDIT BUYERS
The pre-contract is not a mandatory item and applies only to credit buyers, but it can also be drawn up if you are a cash buyer. Creating a pre-contract serves as a basis for transferring money from a foreign bank.
CONTRACT FOR CASH BUYERS
If you want to buy real estate for cash, the pre-contract is not mandatory, but you go immediately to the contract.
MONEY TRANSFER
The best way is to transfer the money to your foreign currency account in Serbia and then, within the Serbian bank, perform the money transfer. It is recommended that before buying real estate, you should ask the bank about the method and speed of money transfer. For example, how long it takes for a large amount of money to be transferred from an account in Russia to an account in Serbia. Based on the obtained data, you should decide in which bank you will open an account, because sometimes the wait is longer than 15 days.
It is also possible to pay in cash, but up to 9,999 euros, due to the Law on Money Laundering and Financing of Terrorism, which regulates it.
CERTIFICATION OF CONTRACT
After checking, the real estate agents send the documentation to the notary for certification, who can also request additional documentation.
CLAUSULA INTABULANDI
When the money is deposited in the Serbian bank, then the money is transferred to the account of the seller of the apartment and he issues a clausula intabulandi confirmation (a permit to be entered in the Real Estate Cadastre signed by the seller).
After that, payment is made according to the dynamics that have been agreed, and after the payment, the new owner is registered in the cadastre, thus becoming the owner of the real estate in Serbia. This makes it easier to obtain the condition for permanent residence in Serbia.
THERE ARE NO VAT REFUNDS OR ABSOLUTE RIGHTS TRANSFER TAX
It is important to know that a foreign citizen is not entitled to a refund of VAT, nor tax on the transfer of absolute rights.
COSTS OF BUYING AN APARTMENT:
- Contract certification fee (Depends on the value of the property, but usually up to 500 euros)
- Court interpreter 60-80 euros per hour
- If you have no witnesses, 3,000 dinars per person
- Tax on the transfer of absolute rights, which amounts to 2.5 percent of the value of the real estate and is paid after the decision is received from the competent tax administration (the highest cost)
- Bank costs and agency fees
HOW CAN RUSSIANS GET A HOME LOAN IN SERBIA?
Due to the lack of funds, some foreign nationals want to take out a home loan in Serbia, but they are not sure if they can and under what conditions. Credit advisors from the City Expert agency explain the procedure for raising a home loan for foreign citizens, the required documentation, clarify what reciprocity is and give advice on the easiest way to get a loan in Serbia:
RECIPROCITY AND ACQUISITION OF PROPERTY RIGHTS ON REAL ESTATE
In Serbia, it is possible for a foreign citizen to apply for a home loan in only a few banks, but the basic condition is that there is reciprocity between Serbia and the country from which he comes.
Reciprocity implies the right of a natural or legal person from a foreign country to acquire immovable property in Serbia, but under the conditions under which Serbian citizens can acquire immovable property in their country.
Diplomatic reciprocity means that between the State of Serbia and the country of the foreign citizen there is an agreement that expressly provides for reciprocity or there is a most favored nation clause, while factual reciprocity is the right of the foreign state to allow citizens of Serbia to acquire real estate in that country, under the same conditions as their citizens in our country .
The State of Serbia has signed reciprocity with the Russian Federation. Serbia has reciprocity with these countries as well.
FOR WHICH LOANS CAN FOREIGN NATIONALS APPLY
Foreign citizens can apply for two types of loans in Serbia, a dinar loan and a purely foreign currency loan.
Pursuant to the Law on Foreign Exchange Operations, the funds secured by a purely foreign currency loan can only be taken from a foreign citizen. In other words, if the mortgage were to be established for the apartment that is being bought, the seller should have the status of a citizen of Serbia, or some existing real estate owned by you or owned by someone else can be given.
FOREIGN CURRENCY HOUSING LOAN IN EUR
For example, if you, as a foreigner, want to buy an apartment in Belgrade through a foreign currency housing loan in euros, you need to have a mortgage that you own, a promissory note or other prescribed document issued in the country where the foreigner comes from, in accordance with the regulations of the country from which he comes. Such a loan is usually with a variable interest rate, a minimum 25% down payment is required and the repayment period is up to 360 months.
DOCUMENTATION FOR FOREIGN EXCHANGE HOUSING LOAN IN EUROS
From the documentation, a written confirmation of current employment issued by the employer, turnover according to the bank account for the last 12 months, a copy of the work permit from the passport, a credit bureau report from the territory of Serbia, as well as from abroad, an extract from the real estate list of the competent cadastre, are required. appraisal by an authorized appraiser and pre-contract.
HOUSING LOAN IN DINARS
As for the housing loan in dinars, it is somewhat less favorable since the repayment period is shorter, 240 months, and the variable interest rate is higher compared to the foreign currency housing loan. A down payment of 25 percent is also required, but the advantage is that you do not have to have the property in your name, but it can be a property that you buy from the loan funds.
DOCUMENTATION FOR HOUSING LOAN IN DINARS
The documentation requires a written confirmation of current employment issued by the employer, bank account turnover for the last 12 months, a copy of the work permit from the passport, a credit bureau report from the territory of Serbia, as well as from abroad, an extract from the real estate list of the competent cadastre, assessment authorized appraiser and pre-contract.
It is important to know that creditworthiness is calculated in relation to the amount of your income. The specific amount of the maximum possible loan depends on the amount of monthly income and the term for which you would take the loan, and depending on your current age, ekapija.com writes.
Source: ekapija.com
