Do you run a company outside Serbia and want an additional account with a traditional bank? Serbia can be an attractive option for internationally active businesses.
Foreign companies can generally open a non-resident business account with a Serbian bank without first incorporating a Serbian company. The National Bank of Serbia expressly provides for dinar and foreign-currency accounts for foreign legal entities.
Since 5 May 2026, SEPA Credit Transfer has also been operational in Serbia. According to the National Bank of Serbia, 18 commercial banks initially participate in SEPA payments for businesses and individuals.
For international entrepreneurs, this creates an interesting combination: a full-service banking relationship, EUR and international payments, SEPA, and a banking location outside the European Union.
Bizkonto works with a local lawyer in Serbia who supports account openings with a Serbian full-service bank. This allows the process to be coordinated from preparation of the company documents through communication with the bank to final account setup.
Quick Answer
Can a foreign company open a business bank account in Serbia?
Yes. Serbian banking rules expressly provide for accounts for non-resident legal entities.
A foreign company can open a dinar or foreign-currency account with a Serbian bank if the institution accepts the company following its KYC and risk review.
Do I have to incorporate a Serbian company first?
No.
An existing foreign company can itself be the holder of the non-resident account.
This can be relevant for a US LLC, a UK Ltd, an Estonian OÜ or companies from other jurisdictions.
Does the foreign company need a Serbian tax number?
Not automatically.
If the non-resident company is not a Serbian taxpayer, the National Bank rules do not require a Serbian Tax Identification Number when the account is opened.
If the company later becomes taxable in Serbia, the relevant number must then be provided to the bank.
Does the director have to travel to Serbia?
Not in every case.
Serbian rules generally allow a foreign company to be represented by a properly authorised person.
Whether the entire account opening can be completed under a power of attorney or whether the bank requires personal identification depends on the institution and the customer profile.
Is Serbia connected to SEPA in 2026?
Yes.
SEPA Credit Transfer has been operational at participating Serbian banks since 5 May 2026.
Why a Serbian Business Account Can Be Attractive
For many international companies, a Serbian account is most useful as an additional banking relationship.
It can be relevant for businesses that:
- want a traditional bank alongside Wise, Revolut or other payment providers,
- deliberately want a banking relationship outside the European Union,
- want to diversify their banking structure internationally,
- regularly process EUR payments,
- need SEPA,
- have customers or suppliers in Serbia or Southeast Europe,
- need EUR, USD, RSD or other currencies,
- want an operational backup to existing accounts,
- require legally permitted transactions in RUB.
The combination of a non-resident account, full-service bank, SEPA and a location outside the EU makes Serbia distinct from many standard international business-account options.
Full-Service Bank Rather Than a Pure Fintech Solution
In the process supported by Bizkonto, the account is opened with a Serbian full-service bank.
The banking relationship is therefore directly with the bank itself.
Depending on the institution and account type, the following may be available:
- business account in the company’s legal name,
- RSD account,
- foreign-currency accounts,
- EUR payments,
- SEPA Credit Transfer,
- SWIFT payments,
- online banking,
- additional bank-specific payment functions.
The currencies and functions made available to a particular company depend on the institution and the customer profile.
Deposit Insurance in Serbia
Serbia has a statutory deposit-insurance scheme.
Eligible individuals, entrepreneurs and micro, small and medium-sized legal entities are covered up to EUR 50,000 per depositor per bank.
Eligible deposits are covered whether they are held in dinars or foreign currency.
For larger companies, it should be checked whether the specific entity falls within an eligible depositor category.
Non-Resident Account Without a Serbian Company
One of the main advantages for international entrepreneurs is that the account does not have to be opened for a Serbian d.o.o.
Serbian rules expressly distinguish between residents and non-residents and provide a separate account-opening route for foreign legal entities.
The account holder therefore remains, for example:
US LLC → Serbian business account held by the US LLC
or
UK Ltd → Serbian business account held by the UK Ltd
No new Serbian company is created simply by opening the account.
The bank will review the individual company and typically needs information on:
- jurisdiction of incorporation,
- business activity,
- owners and beneficial owners,
- countries of residence of relevant individuals,
- source of funds,
- expected incoming and outgoing payments,
- countries involved in the payment flows,
- reason for opening the account in Serbia.
A clearly documented company structure and a credible business purpose make the onboarding process easier.
Our guide to a business account for a US LLC in Europe covers additional European account options for US companies.
SEPA in Serbia Since May 2026
Serbia’s banking position for international companies changed materially in 2026.
Serbia entered the geographical scope of SEPA in 2025. Since 5 May 2026, SEPA Credit Transfer has been operational within the Serbian banking sector.
According to the National Bank of Serbia, 18 commercial banks initially participate.
For businesses, this means EUR payments between a participating Serbian bank and institutions across the SEPA area can be processed through the standard SEPA Credit Transfer scheme.
What SEPA Improves
For companies with customers or suppliers in Europe, SEPA can provide:
- standardised EUR payments,
- easier transfers between Serbia and SEPA banks,
- less dependence on traditional correspondent-bank routes for certain EUR payments,
- better integration into existing European payment processes.
Serbia does not become an EU member simply because it participates in SEPA.
Features such as SEPA Instant or SEPA Direct Debit are also not automatically available at every Serbian bank or to every corporate customer.
Which Currencies Can Be Held?
Serbian rules allow non-residents to hold both dinar and foreign-currency accounts.
The individual bank determines which foreign currencies it actually offers.
For international companies, the most relevant are often:
RSD for local payments in Serbia,
EUR for European payments,
USD for international USD transactions.
Other currencies may also be available depending on the bank.
Before opening the account, it is therefore important to confirm which currencies and payment rails the business actually needs and whether the institution supports them.
RUB Payments and Russia-Related Business
The Russian rouble continues to be listed by the National Bank of Serbia as a tradable foreign currency.
Serbian banks can therefore in principle offer RUB payment services.
Whether a specific company can hold RUB or make payments to or from Russia depends on the bank, the counterparty, the banks involved and the underlying transaction.
Relevant factors can include:
- Russian counterparty,
- bank involved,
- commercial purpose,
- underlying contract,
- goods or services,
- ultimate beneficiary,
- source of funds,
- applicable sanctions.
For businesses with legally permitted commercial relationships involving Russia, a Serbian account can therefore be particularly relevant where RUB payments are required and supported by the bank.
Which Documents Does a Foreign Company Need?
For a non-resident company, the National Bank generally requires a current registry or incorporation document from the company’s home jurisdiction.
The document should show details such as legal form, incorporation date and registration number.
Registry Extract and Company Evidence
The registry extract or comparable formation evidence must generally be no more than three months old.
It must be submitted together with a certified Serbian translation.
For an ongoing non-resident account, the rules also provide for the registry evidence to be updated at least annually.
If the updated documentation is not provided in time, the bank may suspend transactions until the information is refreshed.
Typical Corporate Documents
Depending on the jurisdiction and legal form, the bank may request:
- current commercial-register extract,
- Certificate of Incorporation or formation document,
- articles, bylaws or Operating Agreement,
- director or manager evidence,
- ownership and UBO structure,
- powers of attorney and signing authorities,
- Certificate of Good Standing where applicable.
Directors and Beneficial Owners
The bank identifies the individuals behind the company.
This can include:
- passport,
- current proof of address,
- personal tax identification,
- ownership percentage,
- ownership chart through to the ultimate natural person.
Multi-layer holding structures must be presented in a way that allows the full ownership chain to be understood.
Business Model and Payment Activity
The bank also needs to understand the company’s actual activity.
Typical information includes:
- specific business activity,
- website,
- main customer markets,
- suppliers,
- expected monthly transaction volume,
- expected incoming and outgoing payments,
- required currencies,
- source of funds,
- purpose of the Serbian account.
For an international structure, the description should be specific and aligned with the real business model.
Our guides to KYC checks for non-residents and proof of source of funds for companies can help you prepare the supporting evidence.
Does the Company Need a Serbian Tax Number?
A foreign company does not automatically need a Serbian Tax Identification Number (PIB) to open the account.
If the company is not a Serbian taxpayer, the current National Bank rules do not require a Serbian tax number as part of the non-resident account application.
If the company later becomes taxable in Serbia and receives a Serbian tax number, it must then provide that number to the bank.
This is particularly relevant for businesses that only maintain a non-resident account in Serbia and do not incorporate a local company.
Opening by Power of Attorney and Through a Local Lawyer
For international entrepreneurs, one of the main practical questions is whether a trip to Serbia is required.
National Bank rules generally allow a non-resident company to be represented by a properly authorised person.
This means that preparation and, depending on the bank, parts of the account opening can be handled under a power of attorney.
The bank may still require additional steps such as:
- personal identification of the director,
- video identification,
- notarised power of attorney,
- apostille or legalisation,
- original signatures,
- additional KYC documents.
The process should therefore be agreed before the account opening begins.
Local Support From a Serbian Lawyer
Bizkonto works with a local lawyer in Serbia who supports the account opening with a Serbian full-service bank.
The local partner can assist with:
- review of corporate documents,
- preparation of required translations,
- preparation of powers of attorney,
- coordination with the bank,
- submission of the customer profile,
- administrative follow-up,
- coordination of the account opening.
Whether the client must travel to Serbia for any identification step is clarified with the bank in advance.
How the Bizkonto Account-Opening Process Works
Step 1: Initial Review of the Company
We first review:
- legal form and jurisdiction,
- ownership structure,
- business model,
- residence of UBOs and directors,
- required currencies,
- countries involved in payment flows,
- expected transaction volume,
- intended use of the account.
This allows the customer profile to be assessed before the full application is prepared.
Step 2: Prepare the Documents
The required file is then assembled.
This includes in particular:
- company documents,
- UBO documentation,
- personal identification,
- information on the business model,
- payment-flow information.
The local lawyer also reviews Serbian formalities, required translations and any power of attorney.
Step 3: Coordinate With the Bank
The customer profile is discussed with the intended bank.
This includes confirming:
- whether the company can be considered for the account,
- which documents are required,
- which currencies should be available,
- whether personal attendance is necessary,
- which steps can be handled by power of attorney.
This means the practical process is clear before any travel needs to be organised.
Step 4: Application and Compliance Review
Once prepared, the account opening is submitted or carried out with the bank.
The bank conducts its normal KYC and AML review and can ask further questions about owners, business model, source of funds or planned payment flows.
Bizkonto and the local lawyer support the administrative coordination throughout this stage.
Step 5: Account Setup
After approval, the banking relationship is set up.
Depending on the bank and account package, this may include:
- online banking,
- account access,
- payment functions,
- foreign-currency accounts,
- SEPA,
- SWIFT,
- further banking services.
Bizkonto supports the process until the business account is set up.
Final account approval remains with the bank.
How Long Does the Account Opening Take?
There is no single processing time for a non-resident company.
The timeline depends on factors including:
- company jurisdiction,
- ownership structure,
- availability of current registry documents,
- translations or certifications required,
- scope of compliance review,
- additional follow-up questions,
- possible personal identification.
The expected process is therefore discussed with the local partner before the account opening starts.
CRS and Automatic Exchange of Information
Serbia currently does not participate in the ongoing automatic exchange of financial-account information under the Common Reporting Standard (CRS).
According to the current OECD status, Serbia has not yet set a year for the start of automatic CRS exchanges.
A business account opened with a Serbian bank is therefore currently not automatically reported under CRS to the account holder’s jurisdiction of tax residence simply because the account is opened.
Exchange of information on request is a separate matter.
Serbia is a party to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Under the relevant conditions, tax authorities can therefore request and exchange information through established legal channels.
Which Companies Can Benefit From a Serbian Business Account?
A Serbian business account can be particularly useful for international companies that want to add a traditional banking relationship outside the European Union to their existing setup.
Examples include:
- US LLCs,
- UK Ltds and LLPs,
- Estonian OÜs,
- international holding companies,
- businesses with customers or suppliers in Serbia,
- companies active in Southeast Europe,
- businesses with regular EUR payment flows,
- companies that want SEPA through a bank outside the EU,
- businesses that want a traditional bank alongside fintech accounts,
- companies seeking to diversify their banking relationships internationally,
- businesses that require EUR, USD, RSD or other currencies,
- companies with legally permitted Russia-related business that require RUB transactions and are supported by the relevant bank.
For internationally structured businesses, Serbia can therefore complement existing EU bank accounts or international payment providers.
For a US LLC focused on ACH and US payment flows, our guide to a Chase Business Account for non-residents may also be relevant.
How Bizkonto Supports a Serbian Business Account Opening
Bizkonto supports international companies opening a non-resident business account with a Serbian full-service bank.
We work with a local lawyer in Serbia who supports the banking process locally.
Depending on the case, our support includes:
- initial review of the company and ownership structure,
- assessment of the business model,
- preparation of KYC and corporate documents,
- review of required registry documents,
- coordination of translations and powers of attorney,
- preparation of UBO documentation,
- coordination with the local lawyer,
- communication with the bank,
- preparation and submission of the account opening,
- administrative support with compliance questions,
- coordination of any required personal identification,
- support until the business account is set up.
The client therefore receives more than a recommendation for a Serbian bank.
The account opening is prepared together with a local contact on the ground and supported throughout the entire process.
Final acceptance is decided exclusively by the bank.
Conclusion: Serbia as an Additional Banking Relationship for International Companies
Serbia has become significantly more interesting for international companies in 2026.
Foreign companies can generally open non-resident business accounts with Serbian banks without first incorporating a Serbian entity.
Serbian rules expressly provide for dinar and foreign-currency accounts for foreign legal entities.
Since May 2026, operational SEPA participation has further improved EUR payments with the wider European market.
Serbia therefore offers an interesting combination of:
- traditional full-service bank,
- non-resident account,
- banking location outside the EU,
- SEPA,
- foreign currencies,
- international payments.
For certain businesses, the ability to process RUB payments through a Serbian institution may also be relevant, provided the specific bank supports the transactions.
Bizkonto supports the opening together with a local lawyer in Serbia—from the initial review and document preparation through coordination with the full-service bank to final account setup.
Frequently Asked Questions
Can a US LLC open a business account in Serbia?
A US LLC can generally be considered for a non-resident business account with a Serbian bank.
The bank reviews the LLC, ownership, business activity and intended payment flows before deciding on the account opening.
Do I need to incorporate a Serbian company?
No.
Serbian rules expressly provide for accounts for foreign legal entities.
Does my company need a Serbian tax number?
Not automatically.
If the foreign company is not a Serbian taxpayer, a Serbian Tax Identification Number is not required when applying for the account.
Can the account be opened under a power of attorney?
A non-resident company can generally be represented by a properly authorised person.
Whether the full account opening can be completed without personal attendance depends on the bank and customer profile.
Does the director have to travel to Serbia?
Not necessarily.
Any travel or personal-identification requirement is clarified with the bank before the account opening begins.
Is Serbia part of SEPA?
Yes.
SEPA Credit Transfer has been operational at participating Serbian banks since 5 May 2026.
Can EUR and USD be held?
Non-residents can hold foreign-currency accounts.
The exact currencies offered depend on the bank.
Are RUB payments possible?
The rouble continues to be listed by the National Bank of Serbia as a tradable foreign currency.
Serbian banks can therefore in principle offer RUB payment services. Whether a specific payment or RUB account is available depends on the institution and the customer and transaction profile.
How recent do the company documents need to be?
The relevant foreign registry extract must generally be no more than three months old and must be submitted with a certified Serbian translation.
The corresponding evidence must also be updated periodically for an ongoing account.
Does Serbia participate in automatic CRS exchange?
Not currently.
According to the current OECD status, Serbia has not yet set a start date for ongoing automatic exchange of financial-account information under CRS.
Are Serbian accounts automatically reported to Germany?
There is currently no automatic CRS report simply because the account has been opened.
Information can still be exchanged on request under the applicable legal framework.
Is there deposit insurance?
Eligible individuals, entrepreneurs and micro, small and medium-sized legal entities are covered up to EUR 50,000 per depositor per bank.