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Product comparison 2019-02-25T16:22:23+02:00

Product comparison

NON-RESIDENT CORPORATE
BANK ACCOUNT
BRANCH OF THE FOREIGN COMPANY COMPANY FORMATION
Gratis services None 1 free aditional account for a branch
+ 1 free
personal account
(total free products in
amount of 5.800)

1 free aditional account for a company
(total free products in amount of 3.000)

Deadlines From 2 months up to 10-15 working days
(both branch and account)
up to 10-15 days (both branch and account)
Status in Serbia Non-resident Resident of Serbia but not separate legal entity Resident of Serbia and separate legal entity
Compliance Treated as non – resident,
more strict compliance
Treated as a resindent, minimum requirements – Certificate of Incorporation in Serbian business registry, main company corporate documents Resindent company, even less requirements than in case of a Branch – Certificate of Incorporation in Serbian business registry, main company corporate documents (copies only)
Personal presence / remote possibilitiy remotely and personal (both) remotely and personal (both) remotely and personal (both)
Taxation N/A 0-15% corporate tax only on Branch profit 15% corporate tax
Difficulty level of work with the bank (after the
account is open)
Documents required by international AML rules. Annual company renewal documents (good standing and
incumbency) required.
Yearly documentation update for residents
(simple and non-costly)
Yearly documentation update for residents
(simple and non-costly)
Account opening
success rate
Depends on the structure
and bank discretion
99% 99%
Bank fees and future expenses with the bank Bank fees including transaction fees are two times higher than fees for branch/company + there is one time yearly fee minimum 500 EUR Yearly maintenance up to 50 EUR.
Lower bank fees with maximum amount of bank fees limited to 200 EUR.
Yearly maintenance up to 50 EUR.
Lower bank fees with maximum amount of bank fees limited to 200 EUR.
Bank guarantees and letters of credit Not possible Possible but limited Possible without restraints
Residence optimization / CRS protection Protection from CRS until Serbia signs AEOI convention. Client can become tax resident in Serbia as director of Branch and can be fully protected against CRS. Personal taxation 10/15%. Client can become tax resident in Serbia as director/owner of the ompany and can be fully protected against CRS. Personal taxation 10/15%.
Substance (optional) N/A Up to EUR 5000 yearly
(accouting, physical office, registration address, 1 employee)
Up to EUR 5000 yearly
(accouting, physical office, registration address, 1 employee)
Yearly costs Offshore company yearly renewal minimum 1500 EUR yearly if offshore has nominees fees are approximately 2500 – 3000 EUR per year Minimum 1200 EUR yearly
(accounting + address)
1200 EUR yearly
(accounting + address)
Legality 100 % Legal until change of the laws regarding non-resident business 100% legal 100% legal
Additional advantage Protection from CRS, personal tax residence optimization for the future, low personal taxes, expected time to join EU: 2025, Nominee service, Cheap subtance, Longterm solution Protection from CRS, personal tax residence optimization for the future, low personal taxes, expected time to join EU: 2025, Nominee service, Cheap subtance, Longterm solution