Opening bank accounts

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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.