Opening a business bank account in Serbia is an essential step for any company operating in the country. The process is straightforward but requires proper documentation and adherence to legal requirements. Here’s a detailed guide to help you navigate this process seamlessly.
Step 1: Preparing the Required Documentation
Before visiting the bank, gather the following essential documents:
- Company Registration Certificate: Issued by the Serbian Business Registers Agency (APR), confirming your company’s registration.
- Founding Act: The document submitted during the company’s registration with the APR.
- OP Form: A certified signature card with the signatures of authorized account managers, notarized by a public notary or at the bank.
- Identification Documents: Passports or ID cards of individuals authorized to manage the account.
- Tax Identification Number (PIB): Assigned to your company by the Tax Administration during registration.
Step 2: Choosing the Right Bank
Selecting a bank is an important decision and should align with your business needs. Consider factors such as:
- Account maintenance fees and transaction costs.
- Availability of online banking services.
- Customer support quality and branch accessibility.
- Additional services like business loans, credit lines, and foreign currency accounts.
Comparing multiple banks can help you find the one offering the best terms for your business.
Step 3: Visiting the Bank
Once you’ve prepared your documentation and selected a bank, an authorized person must visit the chosen branch. During the visit:
- Signature Certification (OP Form): If the OP Form isn’t already notarized, it can be signed and certified in the presence of a bank official.
- Signing Agreements: The authorized person will sign necessary agreements, including applications for account opening, online banking, and card issuance.
Banks typically request:
- Account opening applications for RSD and foreign currency accounts.
- FATCA compliance declarations and KYC questionnaires.
- Declarations about planned business activities and client/supplier relationships.
- Agreements for account opening and related services.
Step 4: Account Opening Process
After verifying the documentation, the bank will proceed to open the business account. Most companies start with a business RSD account but can also opt for a foreign currency account for international transactions.
Step 5: Activating Services and Receiving the Account Number
Once the account is opened, you’ll receive the account number. You can also activate additional services such as:
- Online Banking: Manage payments and transactions digitally.
- Business Debit/Credit Cards: For streamlined financial operations.
- SMS/Email Notifications: Real-time alerts for account transactions.
Step 6: Reporting the Account to the Tax Administration
The account number must be registered with the Tax Administration within 15 days of account opening. This step ensures your company complies with Serbian tax regulations.
Final Notes
Opening a business account in Serbia is a straightforward process that typically takes one to two business days. Proper preparation of the required documents and choosing the right bank can significantly streamline the process.
For personalized assistance or advice, our team is here to guide you every step of the way.