Serbia is a small country located in the Balkans in the southeastern part of Europe. The country is not part of the European Union, but has started talks to join the union in the future. Foreign investors can receive temporary residence in Serbia by buying a real estate property in the country. After 5 years of temporary residence, foreigners can apply for permanent residence in Serbia. After 3 years of permanent residence a foreigner can apply for naturalization into Serbian citizenship. Serbia will require you to forfeit your previous nationality. The Serbian passport enables visa-free travel to the EU for 90 days in a 180-day period.
Residence in Serbia can be obtained by starting a business or simply buying a property. Applicants can add their spouse and minor children to their application. The authority will provide a temporary resident permit that will need to be renewed every year; you can start the renewal process 3 months before expiration of your resident permit. The authority is required by law to make a decision on the temporary residence application within 30 days. They require in addition another maximum of 25 days to establish if the applicant is a security threat.
Alongside the application for approval or extension of a temporary residence permit, a foreigner shall submit:
1) Valid personal or service passport;
2) Evidence of means for subsistence during the planned stay;
3) Registered address of residence in the Republic of Serbia;
4) Evidence of health insurance during the planned stay;
5) Evidence that the application for temporary residence permit is justified pursuant to the provisions prescribed in article 40 of this law, as well as other documents at the request of the competent authority;
6) Proof of payment of the prescribed administrative fee.
Permanent residence can be obtained after 5 years of residence in Serbia. When making an application you will also need:
The naturalization process into Serbian citizenship takes in total 8 years. It requires at least 3 years of permanent residence, which itself takes 5 years before you can obtain permanent residence status. Be aware that you will be requested to forfeit your previous nationality in order to become naturalized. Serbia only allows dual citizenship in certain cases.
You can access more information by visiting the official government website.