Tokenize Real Estate in Serbia

Yes. Serbia's Law on Digital Assets, in force since 2021, expressly permits issuing financial instruments as digital tokens on a blockchain. Such tokenized securities are supervised by the Securities Commission, and when issued as digital assets they are exempt from the usual Capital Market Law registration. This gives tokenized real estate a clear legal basis.

Yes, on a reciprocity basis. Foreigners from countries that grant reciprocal rights to Serbian citizens can own Serbian property, with no fixed minimum investment. They can also hold tokenized fractions, which makes cross-border participation easier.

It is one of Europe's earliest dedicated frameworks. It defines digital tokens and digital assets with financial-instrument characteristics, sets rules for issuance, secondary trading, custody and pledges, and allows financial instruments to be issued directly as digital assets – without the usual Central Securities Depository registration – which streamlines compliant token issuance.

Two authorities under the Law on Digital Assets: the Securities Commission is competent for digital tokens that have financial-instrument characteristics (and for licensing digital-asset service providers), while the National Bank of Serbia is competent for virtual currencies. Real estate tokens structured as securities therefore fall to the Securities Commission.

Capital gains are taxed at 15% (residents are exempt after holding for more than ten years; non-resident companies face 20%). A property transfer tax of 2.5% applies on purchase, rental income is taxed at 20%, and there is a roughly 0.4% annual property tax. Confirm the treatment of a tokenized holding with a Serbian tax advisor.

Serbia's legal groundwork is well ahead of its market: the framework is in place and digital-asset service providers can be licensed by the Securities Commission, but high-profile tokenized real estate deals are still emerging. That means compliant offerings – for example a fractional rental building – can be structured today under existing law.