Opening a Bank Account in Serbia

Natasa Nedic

Eurofast Global D.O.O.

Serbia boasts an excellent strategic location, solid infrastructure, and highly knowledgeable human resource potential. Being at a unique position in the European market, Serbia offers diverse possibilities.

The attractiveness of the location, coupled with the logistical advantages, availability of skilled workforce, as well as the very good support of the Government of the Republic of Serbia and the local community are the main reasons investors should seriously consider Serbia.

Opening a bank account is a part of the company registration and incorporation process in Serbia. The key features of the Serbian banking system include:

  • Stable and cross-functional banking system, 29 banks divided into seven groups (Local, EU, Russian, American, Turkish, UAE, and one bank from China);
  • Accounts available in a multitude of foreign currencies (USD, EUR, CHF, TRY, RUB, GBP, CAD, DKK, JPY, SEK);
  • Premium services such as Letter of Credit, Bank Guarantee, and nonstandard SWIFT payments are also available;
  • Basic E-banking Services (support available in English) such as mobile Banking, debit cards, etc;
  • Easy sales with Serbian banks’ E-commerce service;
  • Back-to-back (cash deposit) loans through Serbian legal entities;
  • State deposit insurance

The Serbian banking system is stable, and the range and quality of banking services are growing at a rapid pace.

The most important thing to pay heed to is the preparation of the application document package. All forms need to be completed in strict accordance with the requirements.

Some of the documents required include a certificate from the Business Registry for the company in question (as well as any shareholder companies), an official document showing the tax number, a signature card used in the company’s home country, a passport copy of the company’s director and company’s owners, power of attorney, and the bank’s specimen signature card, as well as other bank-specific documents.

Investors wishing to open a bank account in Serbia without the hassle of visiting the country (something which has become especially difficult recently) should contact our Belgrade office for tailor-made assistance.

XLNC MAGAZINE | No. 07 | Spring 2021


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