Serbia

Research notes

Serbia — family-office tax dossier

Last reviewed: 2026-10-15 Tax year: 2026 Reviewer: research agent (Claude), unreviewed by a tax adviser

Summary

Serbia (non-EU) taxes residents' worldwide dividends and capital gains at a flat 15%, with capital gains exempt after 10 years of holding and a step-up to market value on arrival for foreign shares. No wealth tax; no inheritance or gift tax for children, and shares/securities are outside inheritance tax altogether. No special regime for wealthy arrivals.

Residence and eligibility

Resident if residence or centre of business and vital interests in Serbia, or present 183+ days (continuously or not) in a 12-month period beginning or ending in the tax year; treaty tie-breakers prevail.

• Temporary residence (single permit): Serbia is not in the EU; all foreigners need a temporary residence permit on a recognised ground (work, business, family, property ownership etc.). Grounds and conditions for 2026 not verified.

Capital gains

Capital gains of resident individuals on shares, securities and real estate are taxed at a flat 15%, worldwide, self-assessed. Gains on assets held continuously for at least 10 years are exempt. For shares in non-resident companies acquired before becoming resident, the cost base is the market value on the day the person became resident (step-up on arrival).

Exemptions: Art. 72a: no gain on rights acquired by inheritance in the first order; transfers between spouses and direct-line relatives; assets held continuously 10+ years; government/central bank debt securities. Art. 79: real estate proceeds reinvested in own housing in Serbia within 90 days (refund if within 12 months). Cost is CPI-indexed (art. 74).

Exceptions: Art. 74(9): for shares in non-resident companies, if the taxpayer was not resident at acquisition and for at least six months after, the acquisition cost is the market value on the day residence began. Capital gains are not included in the annual (10%/15%) additional income tax. Digital assets are taxed separately (15%).

Holding period: Exempt if held continuously for at least 10 years (art. 72a).

Foreign assets: Worldwide; foreign tax credit capped at Serbian tax. Step-up to market value on arrival for shares in non-resident companies (art. 74(9)).

Professional trader: Habitual trading could be reclassified as self-employment income; no specific guidance found.

JSON numbers: headline 0.15; all asset-class rates 0.15. Flat 15% (art. 77) on gains held under 10 years; 0% after 10 years of continuous holding. No local surtax.

Dividends

Dividends are capital income taxed at a flat 15% on the gross amount: withheld on Serbian dividends, self-assessed on foreign dividends with a credit for foreign tax up to the Serbian tax.

Exemptions: Interest on dinar savings and government bonds is exempt.

Exceptions: Capital income is not included in the annual additional income tax (10%/15% above three times the average salary).

JSON numbers: domestic 0.15, foreign gross 0.15, relief by credit. Art. 64: 'Stopa poreza na prihode od kapitala iznosi 15%'. No surtax.

Outbound withholding: 20% WHT on dividends paid to non-residents (also 20% to tax havens), reducible by treaty.

Treaties: About 68 treaties (PwC list), including most EU states, UK, Switzerland, UAE, China, Russia; no treaty with the United States.

Inheritance and gifts to children

Inheritance and gift tax applies to real estate, cash, deposits, claims, digital assets, IP and vehicles, but shares and securities are outside its scope. First-order heirs (children, spouse) and the deceased's parents, and first-order donees, pay no tax. Other heirs pay 1.5% (second order) or 2.5% (others).

Exemptions: Art. 21(1)(1) Law on Property Taxes: exempt for the first-order heir, spouse and parent of the deceased, and first-order donees. Art. 14(4): shares and securities excluded; RSD 100,000 per year per category from the same person excluded.

Exceptions: Since 2022 local governments administer inheritance and gift tax. Inheritance by first-order heirs also gives no capital gain (art. 72a PIT law).

Gifts: Same rules as inheritance: first-order donees exempt; others 1.5%/2.5%. Gifts of shares/securities are outside the tax.

JSON: basis beneficiary, children fully_exempt, exemption 0, brackets none (children untaxed), other transfer cost 0.

• Surviving spouse (spouse_treatment fully_exempt): Spouse is exempt (Art. 21(1)(1)); securities are outside scope.

Wealth tax

Serbia has no net wealth tax and no recurring levy on financial assets.

Property tax (not a wealth tax): Annual local property tax on real estate: for individuals not keeping books, progressive rates capped at 0.40% (base up to RSD 10m) rising to 2.0% for the highest bands; land up to 0.30%; municipalities set rates within the caps (art. 11 Law on Property Taxes).

Special regimes

None. No special tax regime for newly arriving wealthy individuals was found; only the standard regime is recorded.

Company taxation (kept separate from personal tax)

CIT rate in JSON: 0.15. CIT 15%, no local income taxes. 20% WHT on dividends to non-residents, reducible by treaty.

Cost of living notes

City: Belgrade (Dedinje / Senjak).

• Prime rent (monthly): EUR 4,000 (2026). Median asking rent of 27 houses for rent in Dedinje and Senjak (Savski venac) with 5–7 rooms (Serbian count, about 4–5 bedrooms) and at least 200 m², from the first 12 pages (239 listings) of 4zida.rs Belgrade houses-for-rent on 2026-10-15; range EUR 2,300–8,000. Larger villas (8+ rooms, 550 m²+) ask EUR 6,000–12,000. Asking prices on a listing portal. Source: Izdavanje kuća Beograd: https://www.4zida.rs/izdavanje-kuca/beograd
• International school (annual, per child): USD 28,945 (2026). International School of Belgrade (Dedinje; IB), 2026/27 tuition for Grades 9–12 incl. IB Diploma: USD 28,945 a year, plus a capital fee of EUR 3,000 for new students (EUR 1,500 returning), USD 500 application and USD 1,000 registration fee. Source: ISB Tuition Fees: https://www.isb.rs/admissions/isb-tuition-fees

Health insurance and housekeeper costs not sourced.

Open questions

• How the 10-year holding test applies to portfolios with repeated purchases (FIFO lots) was not checked.
• No individual exit tax found; not confirmed against legislation.
• Probate court fees not quantified.
• Residence permit grounds for 2026 not verified.
• PIT law amendments in 2026 appear to concern employment incentives only; not fully reviewed.

Sources

• Zakon o porezu na dohodak građana (consolidated), arts. 7, 12, 61, 64, 72, 72a, 74, 75, 77, 79, 87-89: https://www.paragraf.rs/propisi/zakon_o_porezu_na_dohodak_gradjana.html
• Serbia – Individual – Income determination: https://taxsummaries.pwc.com/serbia/individual/income-determination
• Serbia – Corporate – Withholding taxes: https://taxsummaries.pwc.com/serbia/corporate/withholding-taxes
• Zakon o porezima na imovinu (consolidated to Sl. glasnik RS 94/2024), arts. 11, 14-21, 30: https://www.paragraf.rs/propisi/zakon_o_porezima_na_imovinu.html
• Serbia – Corporate – Other taxes: https://taxsummaries.pwc.com/serbia/corporate/other-taxes
• Poreski informator: Porez na nasleđe i poklon (July 2025): https://www.purs.gov.rs/upload/media/2025/7/28/760050/informator_POREZ_NA_NASLEDJE_I_POKLON.pdf
• Quick charts – Inheritance and gift tax rates: https://taxsummaries.pwc.com/quick-charts/inheritance-and-gift-tax-rates
• Serbia – Individual – Residence: https://taxsummaries.pwc.com/serbia/individual/residence
• Serbia – Corporate – Taxes on corporate income: https://taxsummaries.pwc.com/serbia/corporate/taxes-on-corporate-income
• Izdavanje kuća Beograd: https://www.4zida.rs/izdavanje-kuca/beograd
• ISB Tuition Fees: https://www.isb.rs/admissions/isb-tuition-fees

Change log

• 2026-10-15: initial research.
• 2026-10-15: phase 2 data-quality pass: added Belgrade cost of living (Dedinje/Senjak prime house rent EUR 4,000/month median from 4zida.rs; International School of Belgrade Grades 9-12 USD 28,945 for 2026/27).
• 2026-10-15: family rent re-checked against the upper-middle-class standard: kept.
• 2026-10-16: added surviving-spouse treatment.