We offer you the opportunity to open a non-resident bank account in Serbia – remotely with а Power of Attorney or in person.
Non-resident banking is now facing many difficulties. Banks refuse to work with clients from third countries and choose to cooperate with representatives of local companies.
Some banks in Serbia are still ready to work with non-residents, even with a foreign ownership structure.
At the same time, company formation in Serbia (resident status of the company) will in all probability result with a fast and easy resident bank account opening.
As far as non-resident accounts with foreign ownership structure are concerned, it is highly recommended to act carefully and with the help of our specialists. As mentioned, not ALL all banks are ready to open accounts for non-residents. By knowing exactly in which bank you should apply, your chances of actual account opening are pretty high.
Banks do not like to advertise this opportunity for one simple reason: as soon as it becomes clear that the bank is ready to open accounts for foreign clients, more and more applications are sent to the bank every day. Among all those new numerous applications, banks fail to find unreliable businesses that spoil the reputation of the bank, jurisdiction, regulator and non-resident banking itself. This consequently leads to more questions on non-resident accounts being asked by authorities and regulator. This may very quickly result with massive closure non-resident accounts. We have seen this scenario on numerous occasions in many other countries. Therefore, your application for a non-resident bank account opening in Serbia will be carefully checked before the bank actually opens the account.
We will offer you banks that are willing to cooperate with non-residents. However, you need to take into account several important factors.
Some facts about non-resident banking in Serbia
In order to open an account, it is necessary to fulfill some requirements and not fall under restrictions.
Firstly, you will not be able to open an account if your company is registered in North Korea or Iran or intends to cooperate with partners in these jurisdictions. Also, banks will not work with companies from “monitored jurisdictions” – a list of high-risk countries from the FATF organization: Bahamas, Botswana, Ghana, Yemen, Pakistan, Syria, Trinidad and Tobago, Tunisia, Sri Lanka, Ethiopia. At the moment of your application the fresh list of prohibited coutries will be applied to your application. A funny fact is that Serbia is currently also on the FATF list, as a country with high risk.
Secondly, in most cases Serbian banks are not ready to work with projects in the field of cryptocurrency.
Bank accounts for fiat currencies operate in: EUR, USD, RSD, CHF.
E-banking is available with all banks that we can suggest.
Depending on the bank, a deposit may be required. In some cases, it is 100,000 euros, and in some cases it is 0. Requirements depend on the bank. We can offer you those banks without any requirements in terms of deposit and minimum balance.
Card availability: some banks simply do not issue any cards while e-banking is still available, and some work with the local Dina card or international Visa and MasterCard.
It is possible to open an account remotely in the presence of a trustee. You will need to issue a power of attorney for one of our specialists in Serbia and they will start the application.
IMPORTANT: if your company has been repeatedly declined by banks in other jurisdictions, then you may expect difficulties in Serbia as well. Local banks are willing to work with many clients, but those clients who are systematically not accepted by foreign colleagues cannot expect that their bank account opening process will run smoothly.
Which documents are required for non-resident bank account opening in Serbia?
- Registry extract with apostille not older than 3 months and translated by authorized translator in Serbia
- Incumbency certificate with apostille not older than 3 months and translated by authorized translator in Serbia
- Certificate of Good Standing;
- Certified and apostilled power of attorney for bank account opening
- Statute, Articles of association and other official company documents (in Serbian)
- Description of business activities
- Copies of passports for beneficiaries, directors, managers, etc.
Banks may request a letter describing the structure of the company signed by the director or an authorized person. You will also need a certified sample of signatures and completed forms for opening of a bank account. This sample has to be signed by the person indicated in the power of attorney.
Costs of non-resident bank account opening in Serbia
The basic fee for non-resident bank account opening is 6,599 EUR. The service includes bank selection, preparation of necessary documents, application, communication with the bank and account opening.
If your company has a complex corporate structure, such as nominees, then it takes more time to check all documents and explain the nuances to the bank. Banks prefer not to work with clients who they find difficult to understand. In case of a more complex structure more work is required and the cost of the service will be 7,999 EUR.
Power of attorney for remote account opening – 800 euros.
All documents have to be translated into Serbian language – 20 EUR per
Notarization also requires costs.
You can personally visit Serbia without a power of attorney. For help please contact us at email@example.com.
How to start non-resident bank account opening in Serbia:
Please contact us at firstname.lastname@example.org.
After initial consultation, you will be required to provide basic information about you and your business – a consultant will provide you with a list of the necessary information
You can then proceed and pay for the service – from 6,599 EUR.
We will wait for you to prepare a package of documents. If you wish to open account remotely, you will also need a power of attorney.
We will then translate your documents and send the application to the bank.
Please note that it takes around 3 months to open a non-resident account. However, there is always a risk that the account will not be open. We will use all our resources and knowledge to minimize this risk and consult you on alternatives.
For all further questions feel free to contact us at email@example.com.