Serbia is one of the few European jurisdictions where, under the current circumstances, it remains possible to open corporate accounts for foreign companies and subsequently conduct international settlements.
Such accounts are of particular practical value for beneficial owners and groups of companies that make, or plan to make, payments to and from the Republic of Belarus and the Russian Federation, and that are also building settlement chains across several countries. Serbian banks allow these flows to be handled legally and in a structured manner, provided that sanctions and compliance requirements are observed.
Our company supports the opening of corporate bank accounts for companies that are non-residents of Serbia, taking into account the client’s business structure, the group’s countries of presence, and the specifics of international payments.
Corporate accounts with Serbian banks may be opened and used in the following currencies:
The set of available currencies and the terms of their use depend directly on the company’s business profile, the countries of counterparties, and the internal policy of the relevant bank.
The list of documents is determined individually for each client; however, the standard package typically includes:
The final list of documents is determined after a preliminary review of the corporate structure and the business payment model.
The process of opening a corporate account in Serbia includes the following stages:
Bank compliance screening
Average timeframe: 10 to 20 working days.
Signing of bank documentation
After approval is obtained, the company’s director or another authorised person typically travels to Serbia in person to sign the documents.
In certain cases, signing by proxy (under a power of attorney) is possible.
Access to internet banking
Internet banking login details are provided within 3–5 working days from the date of signing the documents.
Access is provided via a mobile application; where required, a physical token may be issued.
When using a corporate account in Serbia, it is necessary to take into account a number of important restrictions:
REVERA provides comprehensive support at all stages of opening and using a corporate account in Serbia, including:
If your business involves settlements between several jurisdictions, including Belarus and Russia, and you are considering Serbia as a settlement or transit banking centre, we are ready to propose a legally robust and practical solution. We take into account current sanctions restrictions, Serbian banking practice, and the requirements of banks’ compliance departments.
Authors: Bogić Sekulović, Anna Miritskaya.
