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Real Estate Purchase and Ownership Registration
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Purchase of Real Estate and Registration of Ownership

 

In accordance with the Constitution of the Republic of Srpska, foreigners may obtain the right of ownership and rights arising from capital investment, as set forth by law. Ownership and other rights of foreign investors obtained based on invested capital may not be limited or taken away by any law or other regulation.

According to Article 8 of the Law on Foreign Investments (Official Gazette of the Republic of Srpska 21/18), a foreign investor may acquire the right of ownership on real estate in accordance with the regulations on property rights.

Article 15 of  the Property Law (RS Official Gazette, no. 124/08, 58/09, 95/11 and 60/15) lays down that foreigners may acquire ownership right in the Republic of Srpska under the condition of reciprocity, unless otherwise specified by law or international treaty. Also, the above Article of the Law sets forth that a foreigner may not own a piece of real estate located in an area declared by law an area where foreigners may not acquire ownership right, for the purpose of protecting the interests and security of the Republic of Srpska i.e. of BiH. Ownership right of a foreigner who acquired real estate by inheritance or before the area became an area of protected interest and security shall cease and the foreigner shall be entitled to a compensation in accordance with the regulations on expropriation.

A list of countries with a brief description of the conditions under which foreign persons can / can not acquire the ownership of real estate

The latest amendments to the Property Law provide for a possibility, in extraordinary circumstances, to alienate real property owned by the Republic of Srpska or a local self-government unit at a price below its market value or without consideration, for the purpose of implementation of an investment project of particular interest for regional or local economic development.

The real property alienated in this way, including right to build and right to lease, can represent public partner’s contribution to the establishment of a joint company or another organizational form with a private partner, in compliance with the regulations governing public-private partnership.

In the past, significant steps have been made to reduce number of procedures and days required for transaction and registration of real estate, due to reforms of land registry administration (most old land registries and cadastral records have been transformed into electronic form), new Property Law, etc.

All real estate must be entered into land registry.