Serbia recently adopted several amendments to its Law on Foreigners and Law on Employment of Foreigners that impact individuals who hold or apply for Serbian residence permits. Some of these went into effect on 4 August 2023, while others, including the introduction of a new Single Permit, will be implemented effective on 1 February 2024. The following amendments went into effect on 4 August 2023: (i) temporary residence permits (TRPs) are now valid for up to three years (up from one year); (ii) holders of TRPs can now submit extension applications until the date of their current permit's expiry; (iii) holders of TRPs are now eligible to apply for permanent residence after residing in Serbia for three consecutive years (down from five years); and (iv) the Serbian parliament can now determine the necessary conditions to be met for issuance of TRPs to special categories of third-country nationals (e.g., investors, digital nomads, highly qualified professionals).

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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Full text of Tax Alert