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Disclaimer:
The information below reflects the current regulatory and banking environment in Serbia as of today. Banking policies, regulatory frameworks, and international compliance standards are subject to change. Future developments may affect the conditions described below.
1. Is it possible to open a non-resident bank account for a foreign company?
It is possible to open a non-resident account for a foreign company, but not in all banks. Much depends on what the foreign company intends to do in Serbia.
If the purpose is dividend payments, receiving funds based on a court decision, purchasing real estate, or another legal ground connected to Serbia, the chances of opening the account are relatively good.
However, this is generally not the best solution if you plan to conduct active business operations. In most cases, it is significantly better to establish a branch of the foreign company in Serbia and then apply for a bank account. In that scenario, there are very few restrictions.
2. Do banks open accounts for companies from all jurisdictions?
Restrictions always exist, depending on the following parameters:
International sanctions imposed on certain countries
Blacklists issued by international anti-money laundering (AML) organizations
Countries with low or zero tax regimes
Local legal regulations and banking rules
These restrictions apply both to companies and to their owners (beneficial owners).
3. For which business activities is it possible to open an account?
There is no official list of permitted activities. However, any activity that requires a special license in Serbia represents a more complex case.
Opening accounts for such companies requires detailed explanations, a specific approach, and additional transparency regarding operations and business relationships with partners.
4. Is it necessary to obtain a local non-resident tax number to open an account?
This is required only in certain cases, such as real estate purchases.
If you establish a branch of your foreign company in Serbia, you will automatically obtain a Serbian tax number.
5. What documents are required to open a corporate account?
For companies, all corporate status documents are required, including:
Extract from the Commercial Register
Articles of Association
Founding decision or incorporation agreement
Identification documents of shareholders and directors
It is mandatory to identify the ultimate beneficial owner (UBO), provide a detailed explanation of the company’s activities, and describe planned future operations.
For owners and directors, banks typically require passports, CVs, and proof of residential address.
A comprehensive explanation of planned operations is extremely important. The quality and clarity of this explanation significantly affect both the success of account opening and the smooth functioning of the account after it is opened.
6. In which currencies can accounts be opened in Serbia?
Accounts can be opened in most major world currencies, including EUR, CHF, USD, CNY, AED, TRY, RUB, and GBP.
However, this is not a simple question. Banks will assess who the owners and directors are and what type of business activities the company intends to conduct. A personalized approach and proper presentation of business documentation to the bank are essential.
7. Is Serbian residency required to open a corporate bank account?
This is a very important question affecting both private and corporate accounts.
If you are a Serbian resident, you are automatically considered a lower-risk client. The bank can contact you at any time, as you have a registered Serbian address. Residency also demonstrates a tangible connection to Serbia and seriousness about managing the business locally.
However, obtaining residency involves additional costs, such as residence permits, address registration, and salary payments.
The benefits of working with Serbian banks as a resident are significant. While it may not happen immediately, residency can open doors to most banks within approximately one year.
Ultimately, this depends on your business strategy. Many clients operate successfully without becoming Serbian residents. Each case requires an individual approach.
8. Card issuance
All banks in Serbia issue Visa and Mastercard cards, as well as the local DinaCard, which has a strategic partnership with UnionPay. Some banks also issue American Express cards.
9. Is Serbia part of the SEPA payment system?
During 2026, it is expected that all banks will become part of the SEPA payment system. Currently, only a limited number of banks have implemented SEPA transfers.
10. Is a deposit required to open an account?
Serbian banks are generally not part of the private banking industry. However, maintaining a deposit exceeding EUR 100,000 may positively influence a bank’s willingness to cooperate.
11. Do Serbian banks provide loans to legal entities?
Business loans are available, but typically only after the company has submitted at least two annual financial statements and is either a branch of a foreign company or a Serbian legal entity.
Non-resident companies cannot obtain business loans.
12. Is it possible to open letters of credit, issue bank guarantees, or use other trade finance services?
Yes. Serbian banks regularly provide trade finance services, including letters of credit and bank guarantees.
However, adequate documentation is required, and the company typically needs to have been operating for at least two years.
13. Currency exchange and FX rates
When converting from one foreign currency to another, it is generally necessary to first purchase Serbian dinars (RSD) and then use RSD to purchase the desired foreign currency.
In specific cases, it may be possible to negotiate more favorable exchange rates.
14. International operations and correspondent banking relationships
Depending on the transaction currency, operations must be carefully planned in accordance with correspondent banking rules and international banking standards.
Each correspondent bank is required to verify:
The beneficiary
All participating companies
AML compliance
Tax aspects of the transaction
Sanctions compliance and other regulatory restrictions
For this reason, it is sometimes significantly easier to open a bank account than to conduct international transactions through it.
