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Opening bank accounts
Key benefits of Serbian banking system:
- Stable & cross-functional banking system, 29 banks divided in 7 groups (Local, EU, Russian, American, Turkish, UAE & one bank from China)
- Account available in USD, EUR, CHF, TRY, RUB, GBP, CAD, DKK, JPY, SEK.
- Premium services like Letter of Credit, Bank Guarantee nonstandard SWIFT payments, also available.
- Basic E-banking Services (support available in English), mBanking, Debit cards
- Easy sale with Serbian banks E-commerce service.
- Back to back (cash deposit) loans through Serbian legal entities
- State deposit insurance (50.000 EUR guaranteed deposit)
Documentation and procedures
Documentation for opening bank accounts in Serbia is not complex, it consists of:
- Bank forms
- Personal documentation of physical persons, passports and proof of address (personal and corporate accounts) – depending on jurisdictions several types of documents can be required: Certificate of Incorporation, Certificate of Good Standing, Certificate of Incumbency, NAR-1, basic source of funds documentation etc.
- Corporate documentation
Complete documentation must always contain the following information:
- personal data of a legal representative of a foreign company
- shareholders’ personal data
- number and value of shares
- address of a foreign company
- registration number of a foreign company
- full name of a foreign company
- tax number of a foreign company
Procedure for bank account opening, depending on company’s structure can last from 5-15 days.