Serbian Citizenship by Investment

Serbian economy

When it comes to economic growth, few countries can match the strong growth of Serbia’s economy. Individuals from around the globe are turning to Serbia as they seek golden opportunities to grow financially, exercise their financial and business skills and enjoy a premier lifestyle.

Serbia is beating the odds as competitiveness, and economic growth is increasingly challenging issues in a globalized planet.

Serbia, with a small and open economy in southeastern Europe, is, regarding growth factors, near the top.

The growth potential in Serbia is huge. The economic reforms being undertaken are the key to unlocking exponential growth. Early results show Serbia is expected to be the economic lion of southeastern Europe.

Despite being at the crossroads between East and West, Serbia is committed to building a social and economic system founded on Western standards while it improves economic relations with Eastern partners — both in investments and trade.

A Brief Economic History

Since 2008, Serbia has been faced with economic challenges. Many of them driven by external factors such as the world-wide financial turmoil, but some driven by internal factors.

Before 2008, the Serbian growth model was import and consumer driven. Faced with large macroeconomic imbalances, Serbian leaders carried out economic reforms including stabilizing macroeconomics as barriers to doing business were removed

These positive reforms point to a successful implementation. The general deficit was cut to less than 3% of GDP in 2015 when compared to over 6.6% in 2014.

While some observers expected the reforms would trigger a recession in 2015, the actual growth rate was close to 1%, and Serbia jumped from 91st to 59th position on the Doing Business Rankings — the largest change in a nation’s position in our part of the world.

Greater Future Ambitions

While the initial results are promising — ambitions for the future are much higher. We believe we will make a quantum leap in growth. This will be accomplished by unlocking — and enhancing — the growth drivers; physical capital and human capital in addition to technology.

We will continue to boost public investment in infrastructure and making a friendly environment for resulting in a rise in private investment. We are cutting the red tape and improving efficiency within the legal system.

A package of reforms, combined with the natural benefits of our physical location will lead us to a growth rate of 4-5% per year.

Completion of economic reforms, higher growth rates and the finalization of EU accession talks will represent the final and formal certification of Serbian success in economic, social and political transitions.

The Republic of Serbia enjoys a modern industrial infrastructure following the free market model.

Service is the largest sector, comprising over 63% of GDP. Next, comes the industrial with 23% of GDP and agricultural with over 12.5% of GDP.

Following the democratic reforms in 2000, the Serbian industry has been liberalized and now matches economic growth. By 2010, Serbia had almost the highest economic growth of all the region’s nations.

The trade deficit decreased when compared to 2008 and the coverage of imports by exports has grown from 33% in 2004 to 58% in 2010.

Over half of the overall export-import exchange Serbia enjoys is conducted with EU nations.

The official Serbian currency is the Dinar (RSD).



Serbian tax policies are flexible and non-restrictive, and real estate offers attractive income and opportunities.

Corporate tax rate in Serbia is 15% — and some deductions may apply.
The standard VAT rate is 20%, and the lower rate is 10% A 15% tax is applicable for dividend income.
The personal rate is 10% unless the person earns over 3-times the average salary; in this case, an additional tax of 10% is applied. 15-percent is used if an individual makes six times the national average wage.

Also, obligatory contributions for state funding by an employee include:

  • 13% state pension fund
  • 6.5% state health fund
  • 0.5% unemployment insurance

Obligatory contributions for state funds by an employer (capped) include:

  • 11% state pension fund
  • 6.5% state health fund
  • 0.5% unemployment insurance