Opening a Bank Account in Serbia

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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 & cross-functional banking system, 29 banks divided in 7 groups (Local, EU, Russian, American, Turkish, UAE & one bank from China);
• Accounts available in 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 mBanking, 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 application document package. All forms need to be completed in strict accordance with the requirements; Eurofast’s team can help you with the procedure.

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, 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.

With our expertise in this area and our long-standing business relations with most of the banks in Serbia, we can ensure that the process of opening a bank account in Serbia is smooth and easy one.

Eurofast is a regional business advisory organization employing local advisers in over 23 cities in South East Europe & Middle East . The Organization is uniquely positioned as one stop shop for investors and companies looking for professional services in South East Europe & Middle East.

For further information please contact Natasa Nedic, Country Executive, at
natasa.nedic@eurofast.eu .

23/11/2020