Bank Accounts In Serbia
Why is Serbia interesting for banking?
There are 2 simple answers: diversification and banking stability.
Serbia is truly an awesome country and you probably hear about it a lot lately. It is not just about the lovely nature and economic boom during the last decade – Serbia has the most productive ground for bank account diversification. Serbia has not really decided yet between the west and east, if we are honest. And that is exactly what foreigners, wherever they come from, should use for asset diversification! Everyone is welcome.
Also Serbia is not yet a CRS member. This gives certain advantages to some clients.
What banks in Serbia can you recommend?
That is the sweet part and an even sweeter answer to the question. You can choose from a very rich palette of banks with very different origins and foreign investments. All Serbian banks are regulated by the Central Bank (well, like in any other country) but the majority of them is foreign capital. You can choose between Serbian, Russian, Chinese, Arab, EU, American and other banks. You can get a USD bank account in any of those. None of the banks requires you to put in initial deposit and there are no requirements towards minimum balance on the account. Keep in mind that we are now talking about current accounts. There are other options too.
The other important factor is economic stability. According to the World Bank, “Serbia has passed through a period of dramatic change, managing a rapidly evolving political and economic environment. Today, Serbia is a candidate country for the European Union membership, reflecting the significant progress made so far in structural and institutional reforms.”
You can find the list of Serbian banks and other valuable resources here.
What is required to open a bank account in Serbia?
There is only one requirement like in almost any other country and almost all banks – you have to be a resident. The best way to open a bank account is to form a branch of the mother company or simply a new company. For private individuals, they have to be residents to open a bank account in Serbia.
It may sound like too much of a hustle and one can ask questions “Why don’t I simply open an offshore account then in another country? Why would I need to open a company first?” The answer is simple: Would you rather have your offshore account in a well known big bank or a small Caribbean bank? Besides, company formation in Serbia takes just a couple of days and is a fast and straightforward process that can be done completely remotely, as well as bank account opening.
Overall Serbia is a fantastic place for asset diversification and banking. After all, come and see it for yourself. Findove will be happy to be a host for you!