Obtain the extract from the Commercial Registers Agency
Agency: Public Notary (Commercial Registers Agency)
The status of legal representatives authorized to sign on behalf of the parties is verified by the Public Notary by obtaining the information online.
Notarial Rules of Procedure adopted on 10 June 2017 (Javnobeležnički poslovnik “Official Gazette of RS” no. 62/2016 and 66/2017, allows the status of a legal representative to be determined either by insight into public records (register of the Serbian Business Registers Agency (SBRA), birth registers, real estate cadastre, etc.) or by examining submitted public documents that offer proof of existence of a relationship with a participant, from which the authority to represent the company is derived.
Time and cost: Less than 1 day (online), no cost when obtained online by public notary
Prepare the sale contract and solemnize it
The public notary, on behalf of the parties, prepares the sale contract and solemnizes it. Please note that all the fees taken into consideration do not include value added tax (20%) which is paid besides the amount of the respective notary fees.
Time and cost: 1 day, RSD 44,700
Notary Public Tariff (“Official Gazzete of RS” Nos. 91/2014, 103/2014, 12/2016, 17/2017, 67/2017 and 14/2019), real estate price range Notary Prize in Points:
- 1,00 – 600.000,00 RSD 60 points
- 600.001,00 – 2.500.000,00 RSD 100 points
- 2.500.001,00 – 5.000.000,00 RSD 140 points
- 5.000.001,00 – 7.000.000,00 RSD 200 points
- 7.000.001,00 – 10.000.000,00 RSD 240 points
- 10.000.001,00 – 14.000.000,00 RSD 280 points
For the value of a legal transaction over 14,000,000 dinars, for each started 1,000,000 dinars, the award is increased by 10 points, but the total prize cannot exceed 4,000 points.
Each point amounts to 150,00 RSD without VAT included.
When the notary public gives a non-official document the legal power of the public document (solemnization), is awarded in the amount of 60% of the prize for Tariff 1
Amount of the prize is increased by 4 points for the amount of compensation of material expenses of the Notary Public Tariff)
Submit the request for registration to the Republic Geodesy Institute
Agency: Public Notary (Republic Geodetic Authority (RGA))
On behalf of the parties, the request for registration is submitted online by the Public Notary to the Republic Geodesy Institute, along with all the documents needed to register the change in ownership. This has been the standard practice since the adoption of Law on Registration Procedure with the Cadaster of Real Estate and Utilities “Official Gazette of RS”, number 41 of 31 May 2018.
Time and cost: Less than 1day (online), RSD 5,000 (Registration fee is 5000 RSD)
Submit the application to Tax Authorities for the approval of the transaction value and for the authorization of the transfer tax payment
Agency: Tax Administration
The parties themselves (not through a notary) submit tax returns to the tax authorities. After the decision is made, the tax authorities send it by post to the parties.
Tax authority is obliged to determine the tax base in the amount of market value within 60 days from receipt of the tax declaration. (Article 27 of Property tax law “RS Officail Gazette” No. 26/2001 …95/2018 and 99/2018).
According to the amendments to the VAT Law it is now possible for the transferor and the transferee which are registered VAT payers to have the transfer of immovable property taxed under VAT instead of Tax on transfer of absolute rights. As such the transfer shall be subjected to the procedure applicable for reporting and payment of VAT.
Time and cost: 30 days, no charge
The Cadastre issues the decision on the property title
Agency: Real Estate Cadastre (REC)
When public notary submits the registration, the Cadaster is obligated to issue a decision within 5 working days. In practice this takes at least 21 calendar days.
When parties themselves submit the registrations, the Cadaster is obliged to issue a decision within 15 working days. In practice this takes 30 calendar days or more.
In practice, it is more common for companies to use the public notary to submit the registration.
Time and cost: 21 days, RSD 660
Pay the transfer tax
Agency: Commercial Bank or Treasury department
The tax is paid at a commercial bank into the account of the local Tax authority. This can be done in person or via e-banking.
Time and cost: 1 day, RSD 859,666.11 (2.5% of the property value estimated by the Tax Authority)