Opening a personal bank account in Serbia as a non-resident

Who can open a non-resident account

In simple terms, a non-resident is a person who does not live in Serbia. Serbian banks open personal accounts for non-residents, both for foreign citizens and for Serbian citizens who live abroad. The account can be held in Serbian dinars (RSD) and in foreign currencies, most often euros.

Banks want to see a concrete link with Serbia, because it explains why a person living abroad needs a Serbian account. The most common reasons are listed below.

• Owning or buying an apartment or house in Serbia
• Paying utility bills, maintenance and property tax
• Receiving rent from a property in Serbia
• Receiving a pension or other income from Serbia
• Supporting family members in Serbia

Documents banks usually ask for

Each bank sets its own list, but the core file is similar across the market. The requirements come mainly from the Law on the Prevention of Money Laundering and the Financing of Terrorism, which obliges banks to know who their client is and what the account will be used for.

Documents in a language other than Serbian may need a certified translation by a Serbian court interpreter. Ask before you travel, because a missing translation is a common reason for a second visit.

• A valid passport (some banks also ask for a second identity document)
• Proof of your address abroad, such as a recent utility bill or bank statement
• Your foreign tax identification number and country of tax residence
• A short explanation of the purpose of the account
• Documents on the source of funds, such as an employment contract, payslips, a pension decision or a sale contract
• Documents that show your link with Serbia, such as a property title extract or a lease

Purpose of the account and source of funds

This part most often decides how smoothly the process goes. The bank must understand why you need the account, how much money will pass through it and where that money comes from. Vague answers, such as "for general use", usually lead to more questions.

A clear answer is short and concrete. For example: "I own an apartment in Belgrade. I will receive monthly rent into this account and pay the utility bills and property tax from it. My funds come from my salary in Germany." That explanation should be supported by documents, such as the cadastre extract for the apartment and recent payslips.

Every bank applies its own compliance rules and makes the final decision on whether to open the account. A bank is not obliged to accept every applicant. A well prepared, consistent file does not guarantee a result, but it removes the most common reasons for delay.

The process, step by step

Banks usually identify non-residents in person at a branch, so plan for a visit to Serbia. Remote opening is not standard for non-residents. If your trip is short, prepare the file in advance so that the account can be opened during that visit where the bank's procedure allows it.

• Define the purpose of the account and collect the documents
• Arrange translations and apostilles before you travel, if the bank needs them
• Book an appointment at a branch that works with non-residents
• Attend in person; the bank identifies you and completes its questionnaire with you
• Sign the account agreement and request a payment card and online banking
• Make a first payment into the account so that it becomes active

Common mistakes

Banks monitor accounts after opening too. If the activity changes a lot, for example much larger amounts than declared, the bank may ask for new documents or an explanation. Answer such requests promptly.

• Arriving with a passport only, without proof of address or a tax number
• Giving a general purpose that does not match the documents
• Planning large transfers without being able to show where the money comes from
• Bringing expired documents or a proof of address older than the bank accepts
• Using the account differently from what was declared at opening
• Assuming that the requirements of one bank apply to all banks

When to involve a lawyer

Many people open an account on their own. Legal help is useful when the account is linked to a legal matter, such as an inheritance, a property purchase or a sale, when documents come from several countries, or when you do not speak Serbian and want the meeting to run in English.

Our office checks your documents before you travel, helps you set out the purpose of the account clearly and consistently, arranges the appointment and can assist you at the branch in English. The decision on the account always remains with the bank.

Frequently asked questions