Opening a Bank Account in Serbia as a Foreigner 2026
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Opening a Bank Account in Serbia as a Foreigner 2026

Guides · Exgentum · Serbia

A Serbian bank account is essential for every expat, entrepreneur or freelancer living in Serbia. It is the basis for paying taxes, receiving a salary, paying rent and receiving fees from clients abroad. Despite the bureaucratic surface, opening an account as a foreigner in Serbia is very manageable – as long as you know the rules of the game. This guide explains which account types exist, which banks are used to foreign customers, which documents you need and which problems typically come up.

Personal account vs. business account

Serbia draws a clear line between the different types of accounts:

As a freelancer or entrepreneur, you need at least a business account in RSD, and a devizni račun for income from abroad is strongly recommended. If you are still deciding which legal form fits your situation, our article Employed or Self-Employed in Serbia? gives an overview.

In practice, many newcomers open a personal account first, because it is needed for everyday life, and add the business account once the company or sole-trader registration is complete. The foreign currency account can usually be part of the same package at the same bank, which keeps things simple.

Which banks are suitable for foreigners?

The large international banks in Serbia have experience with foreign customers and often offer service in English:

For simple preduzetnik accounts, local banks (Komercijalna, AIK) are also an option, but they offer less support in English.

When choosing, look beyond the account fee. What matters more in daily life is whether the branch near you has staff who can explain contracts in a language you understand, whether the online banking is available in English and how the bank handles incoming transfers from abroad.

What you need to open an account

The exact list depends on the account type – and sometimes on the individual branch. The following overview shows what is typically requested.

Personal account

The prijava is the document most people do not have yet when they first try to open an account. How it works, who registers you and why it has to be done within 24 hours of arrival is explained in our article Registering Your Address in Serbia: Prijava 2026.

Business account (preduzetnik)

Business account (d.o.o.)

The order of the steps matters: the APR extract and the PIB are created during the company or sole-trader registration, so the business account can only be opened once that registration is complete. What the formation of a d.o.o. involves overall is covered in Setting Up a DOO in Serbia: What Does It Actually Cost?.

Foreign currency account: important for income from abroad

If you receive fees or invoice payments from abroad in euros or dollars, you need a devizni račun (foreign currency account). It can be part of the same banking package as your RSD account.

Important to know: Serbia has a foreign exchange requirement (valutna klauzula) – income from abroad must be converted into RSD within a certain period (for a preduzetnik often within 5 banking days, for a d.o.o. more flexibly). The rules change from time to time – ask your bank for advice on the current requirements.

For freelancers working for international clients, this point is worth clarifying before the first invoice goes out: tell the bank in advance that you expect regular incoming payments in foreign currency, and ask how the conversion is handled for your account type.

Online banking and international transfers

All major Serbian banks offer online banking. SEPA transfers are possible, but Serbia is not a SEPA member – SEPA transfers from German accounts to Serbia are treated as international transfers and can incur fees. (This applies to transfers from Germany and, by the same logic, from other SEPA countries; if your home account is outside the SEPA area, ask your own bank about its fees for transfers to Serbia.)

Alternatives for cheaper international transfers:

How long it takes and what it costs

Typical duration: 1–3 working days after you have submitted all documents. Some banks can even open an account on the same day.

Costs:

Compared with the effort of the other first steps in Serbia, the costs are modest. The bigger factor is time: if a document is missing, a second visit to the branch is usually required.

Common problems and solutions

Problem: the bank asks for a Serbian ID card

Some local banks ask for a Serbian identity card (lična karta), which you do not have as a foreigner. Solution: switch to one of the international banks (Raiffeisen, Erste, UniCredit) that accept a passport.

Problem: no residence permit yet

At most banks, the prijava (address registration) alone is enough for a simple account. For business accounts, the PIB is more important than the residence permit. If your residence permit application is pending, many banks accept the confirmation of receipt. How the residence permit itself is applied for is explained in Residence Permit in Serbia: Step by Step.

Problem: language barrier

Bring someone who speaks Serbian, or go specifically to one of the banks mentioned above that offer service in English. Raiffeisen Banka in Belgrade regularly has English-speaking advisers at its main branches.

Can I prepare the account before I arrive?

A complete account opening remotely is not possible at most Serbian banks – you have to appear in person with your original passport. What you can prepare, however: at several international banks (especially Raiffeisen and UniCredit), you can arrange an appointment in advance by email or via the German- or English-speaking hotline and have the exact, branch-specific list of documents confirmed. This often saves you a whole day after arrival, because you do not first have to find out on site which additional confirmation a particular branch requires.

A practical tip: keep your prijava, your passport and – for business accounts – your APR extract and PIB certificate together in one folder, with scans on your phone. Banks regularly ask for the same documents again when you add a product or a card later.

Frequently asked questions

Is there a minimum deposit when opening an account?
For most personal accounts there is none, or only a symbolic amount. For business accounts, some banks expect a first incoming payment within the first few weeks to keep the account active – ask about this specifically when you open the account, as it differs from bank to bank.

Can I simply keep using my bank account from home (for example a German account) and do without a Serbian one?
For ongoing living costs in Serbia this is impractical (everyday card payments run mostly through local accounts, and standing orders for rent and utilities are easier locally), and for any form of self-employment or company formation a Serbian account is mandatory anyway.

What happens to the account if I leave Serbia again?
A Serbian bank account does not necessarily have to be closed immediately, but if you move away permanently, you should actively close it rather than simply leaving it dormant – inactive accounts can accumulate fees over time. For business accounts (preduzetnik/d.o.o.), this depends on the deregistration or liquidation of the business itself.

Conclusion

A Serbian bank account is not a major hurdle – but it is one you should tackle early. Without an account, you cannot pay taxes, transfer rent or receive a salary. Start in parallel with your company formation or immediately after registering your address.

Further reading:

Further reading

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