A new article has been added to the Law on Agricultural Land, enlisting the conditions under which a citizen of an EU Member state may become the owner of agricultural land in the Republic of Serbia starting from September 1st, 2017.
The agricultural land in the private property can be obtained by contract or other legal transaction with or without consideration if the following conditions are fulfilled:
- An EU citizen must be a permanent resident of the local unit of self-government where the land in the matter is located, at least for ten years.
- An EU citizen must cultivate the land that is the object of the concluded legal act in the matter for three years at the least.
- An EU citizen may be the owner of the family agriculture farmstead that had to have an active status for ten years without discontinuance; as the owner of the family farmstead
- An EU citizen must have agricultural machines and equipment on his property.
The Object of the acquisition can be the agricultural land which is not considered urban construction land, which is not protected as good, that is not on a border with a military base or complex, in protected zones near military bases, complexes, and military infrastructure, neither that is on a border with the Land security zone.
Furthermore, the object of a legal act with a foreigner cannot be the agricultural land in a 10-kilometer zone next to the country’s borders. Even when all other conditions are met, citizens of the EU are eligible to own no more than 2 ha of agricultural land.
It is important to highlight that the period of residence in Serbia should be calculated from the date the application of the Law has started.
Any contract or legal transaction that is not in conformity with the Law shall be considered null and void.