How to Open a Serbia Bank Account Remotely Via Power of Attorney (corporate & Non-resident Guide)

Last reviewed: 16 August 2026

Opening a Serbia bank account remotely via a Power of Attorney is one of the most common requests I handle for non-resident companies entering the Serbian market. Serbian banks generally permit account opening through an authorised representative, but each institution applies its own commercial policies on top of a regulatory framework shaped by anti-money-laundering legislation and National Bank of Serbia supervision. This guide walks through the entire workflow, from initial bank selection and PoA drafting, through notarisation and apostille, to KYC submission and e-banking activation, so that in-house counsel, founders and company formation agents can plan the process with confidence.

At NCR lawyers, we regularly advise clients on these procedures, and the practical steps below reflect the friction points I see repeated in almost every engagement.

Can You Open a Serbia Bank Account Remotely via Power of Attorney?

Yes. Non-residents, both companies and individuals, can open bank accounts in Serbia without physically travelling to the country, provided they grant a properly notarised and, where required, apostilled Power of Attorney to a named Serbian representative.

There is no blanket statutory prohibition on remote account opening. The Serbian Government’s guidance on non-resident accounts confirms that both resident and non-resident natural and legal persons may hold accounts in Serbian banks. The practical constraint is that each bank retains discretion over its onboarding policies: some will accept a PoA-based submission for corporate accounts without hesitation, while others may insist on a video call with the beneficial owner or even an in-person visit for the initial signing. In my experience, the majority of major Serbian banks accept PoA representation for corporate bank account openings once the documentary requirements are met in full.

The National Bank of Serbia (NBS) supervises banks’ compliance with customer due diligence obligations. Banks must satisfy themselves as to the identity of the account holder and the beneficial owner, which means the PoA itself must be detailed, specific and properly authenticated.

Step-by-Step Workflow for Opening a Bank Account via Representative in Serbia

Below is the six-stage workflow I guide clients through when they need to open a bank account in Serbia remotely. Each stage has a realistic timeline range based on what I typically see in practice.

Total elapsed time from start to account activation typically ranges from five to ten weeks. Complex ownership structures, high-risk jurisdictions or incomplete documentation can extend the KYC stage significantly.

Choosing the Right Bank and Account Type

Key Factors to Evaluate

Not every Serbian bank is equally suited to non-resident corporate clients. Before committing to a specific institution, I advise clients to check the following:

• Multi-currency capability. If you need EUR, USD and RSD accounts, confirm the bank offers all three under a single framework.
• SWIFT connectivity and international transfer fees. Fee structures vary widely; some banks charge flat fees per transaction, others apply percentage-based commissions.
• E-banking platform. Confirm the platform is available in English and supports the transaction types you need (bulk payments, payroll, foreign exchange).
• PoA acceptance policy. Ask explicitly whether the bank accepts PoA-based corporate account opening and whether it requires a video call with the principal.
• Maintenance fees and minimum balance. Some banks impose monthly maintenance charges or require a minimum deposit at opening.

Video Identification and Online Onboarding

A small number of Serbian banks have introduced video identification for retail (personal) account opening. ProCredit Bank, for example, offers an online account-opening channel for private individuals using digital identity verification. However, in my experience, corporate bank account openings for non-residents still require submission of physical or certified-copy documentation, even where the bank uses digital channels for retail customers. Do not assume that a bank’s retail video-ID service extends to corporate onboarding, always confirm directly.

Power of Attorney Requirements for a Serbia Bank Account

The Power of Attorney is the single most important document in a remote account-opening process. A poorly drafted or insufficiently detailed PoA is the number-one reason banks reject submissions or request re-drafting, which can add weeks to the timeline.

Mandatory Identity Details

Every PoA must clearly identify both the principal (the account holder) and the representative (the person who will act on behalf of the principal in Serbia). For corporate principals, this means including:

• Full legal name of the company as registered in the home jurisdiction.
• Registration number and registered address.
• Name, passport number, date of birth and address of the signatory, typically a director or authorised officer.
• Full name, passport or ID number, and address of the representative in Serbia.

Specific Authorities to Grant

Banks will scrutinise the scope of authorities granted. In my practice, I always ensure the PoA explicitly covers each of the following permissions:

• Submit account-opening documentation to the named bank or banks.
• Sign the account-opening application and any ancillary agreements (e-banking, card issuance).
• Provide identification documents and respond to KYC/AML information requests on behalf of the principal.
• Receive debit/credit cards, PINs and security tokens on behalf of the principal.
• Receive and acknowledge bank notices, statements and correspondence.
• Close the account if required (optional, but I recommend including it).

Drafting Tips and Common Red Flags

From what I am seeing in practice, the most frequent drafting problems include:

• Vague language. A PoA that states “to act on my behalf in all banking matters” without specifying the bank or the types of actions authorised is likely to be rejected.
• Missing passport details. Every bank officer I deal with checks that the PoA contains the principal’s passport number; omitting it causes an automatic referral back.
• Expired PoA. If the PoA includes an expiry date, ensure it extends well beyond the expected KYC timeline. I typically recommend a validity period of at least six months.
• Certified copy instead of original. Most banks insist on the original notarised PoA (or an original apostilled copy), not a photocopy or scan.

PoA Clause Checklist

Notarisation, Apostille and Legalisation of a Foreign Power of Attorney

A notarised power of attorney Serbia apostille is essential whenever the PoA is executed outside Serbia. Without proper authentication, no bank will accept it.

Step-by-Step Authentication Process

The route depends on whether the country where the PoA is signed is a party to the Hague Apostille Convention:

• Hague Convention countries. Have the PoA notarised by a local notary, then obtain an apostille from the competent authority in that country (e.g., the Secretary of State in the United States, HM Courts & Tribunals Service in England and Wales, or the equivalent body). The apostille certifies the notary’s signature and is recognised in Serbia without further legalisation. Guidance on this process is published by the Ministry of Foreign Affairs of Serbia.
• Non-Hague Convention countries. The PoA must be notarised locally and then legalised through the consular route, typically by the Ministry of Foreign Affairs of the issuing country, followed by the Serbian embassy or consulate in that country. This process takes longer and may involve additional fees.

Certified Translation

If the PoA is executed in a language other than Serbian, a certified translation into Serbian is required. The translation must be performed by a court-certified translator (sudski tumač) in Serbia. I recommend having the translation prepared in parallel with the apostille process to avoid unnecessary delays.

In my view, the authentication stage is where most timelines slip. Clients who begin the apostille process before the PoA is fully finalised, or who use translators unfamiliar with Serbian legal terminology, often face rejection or re-submission requests.

Documents Required for a Serbia Company Bank Account

The documents required for a Serbia company bank account vary depending on whether the account holder is a corporate entity or an individual. The table below covers the standard documentary list that banks request, cross-referenced with the entity type.

For Serbian-registered companies, the APR provides electronic extracts through its online portal. For foreign companies, the equivalent registration extract from the home jurisdiction must typically be apostilled or legalised and translated into Serbian. The Rulebook on the Content of the Business Entities Register sets out the formal documentary standards that underpin these requirements.

Bank KYC and AML Checks: Common Reasons for Rejection

Serbian banks are bound by the Law on the Prevention of Money Laundering and the Financing of Terrorism, which imposes customer due diligence obligations on all financial institutions. The NBS supervises compliance. In practice, KYC and AML Serbia banks apply these checks rigorously for non-resident corporate accounts.

Typical Red Flags That Delay or Block Approval

• Opaque ownership structures. Multi-layered holding chains with nominee shareholders or trusts in jurisdictions that do not maintain public beneficial-ownership registers raise immediate concerns.
• Insufficient source-of-funds documentation. Banks expect a clear explanation of the origin of funds that will flow through the account, supported by contracts, invoices or audited financials.
• High-risk jurisdictions. If the company or its beneficial owners are connected to countries on the FATF grey or black lists, or on Serbia’s national risk-assessment list, the bank will apply enhanced due diligence, and may decline to proceed entirely.
• Non-cooperative responses. Delayed or incomplete responses to the bank’s information requests signal risk to compliance teams and often result in file closure.
• Inconsistencies between documents. Mismatched names, addresses or ownership percentages between the registration extract, PoA and beneficial-owner declaration will trigger additional scrutiny.

My advice to clients is always to prepare source-of-funds documentation proactively, before the bank asks. This single step can shorten the KYC review by weeks.

After Submission: E-Banking Activation, Cards and Transfer Limits

Once the bank completes its KYC review and approves the account, the activation phase begins. For e-banking activation in Serbia, expect the following:

• E-banking credentials. The bank issues login details and security tokens (hardware or SMS-based) to the representative named in the PoA, provided the PoA explicitly authorises receipt.
• Debit/credit cards. Cards are typically issued within five to ten business days. If the PoA authorises card receipt, the representative can collect them; otherwise, the bank may need to post them to the principal’s registered address.
• SWIFT and international transfers. Most corporate accounts are SWIFT-enabled from activation. However, some banks impose initial transaction limits for new non-resident accounts, which are lifted after a short operating history or upon submission of supporting trade documents.
• Restrictions pending in-person verification. A minority of banks may restrict certain high-value functionalities (large outbound transfers, foreign-exchange conversions) until the beneficial owner completes an in-person or video meeting. Clarify this at the bank pre-screening stage.

Practical Checklist for Engaging a Serbian Lawyer as Your Representative

Using a licensed Serbian lawyer as your PoA representative is the most common and, in my view, the most reliable approach. Before engaging counsel, I recommend verifying the following:

• Bar registration. Confirm the lawyer is registered with the Bar Association of Serbia (Advokatska komora Srbije). This can be checked through the Bar Association’s directory.
• Track record with PoA-based bank openings. Ask how many corporate accounts the lawyer has opened by PoA in the past twelve months and with which banks.
• Apostille and translation handling. Confirm whether the lawyer manages the full document-authentication pipeline or whether you will need to coordinate apostille and translation separately.
• Fee structure. Clarify whether fees are fixed or hourly, and whether bank charges, notarisation costs and translation fees are included or billed separately.
• Communication and reporting. Agree on a reporting schedule, at minimum, weekly updates during the KYC review stage.

Mitigation Strategies If the Bank Refuses Your Application

A refusal is not the end of the road. In my experience, the following strategies resolve most rejections when opening a Serbia bank account remotely via Power of Attorney:

• Switch banks. Policies differ significantly between institutions. A rejection from one bank does not preclude approval at another.
• Provide audited financials. If source-of-funds was the issue, submit audited accounts and a detailed business plan.
• Simplify the ownership structure. Where possible, reduce the number of holding layers or replace nominee arrangements with direct shareholding.
• Narrow the PoA scope. Some banks are more comfortable with a PoA that limits authority to account opening only (excluding, for example, the power to close the account or make transactions).
• Register a Serbian subsidiary. If the corporate structure is too complex for a non-resident account, registering a local entity with the APR and opening the account in the subsidiary’s name can bypass many objections.
• Offer an escrow arrangement. For initial deposits, proposing an escrow held by a Serbian lawyer can satisfy bank concerns about source of funds while the full KYC is completed.

Conclusion and Recommended Next Steps

Opening a Serbia bank account remotely via Power of Attorney is entirely achievable, but it demands careful preparation. The core requirements, a detailed and properly authenticated PoA, a complete set of corporate documents, and proactive engagement with the bank’s KYC process, are straightforward once you understand the sequence. In my experience at NCR lawyers, the clients who succeed fastest are those who invest time upfront in drafting a comprehensive PoA, assembling source-of-funds documentation before it is requested, and selecting a bank whose non-resident onboarding policy matches their corporate profile.

If you are considering this process, I recommend starting with a Serbia-focused legal consultation to identify the right bank and prepare your documentation. You can also browse the corporate practice directory for additional specialist guidance. A well-planned approach typically results in a fully operational account within six to ten weeks.

Sources

1. Serbian Business Registers Agency (APR)
2. Opening a non-resident and resident bank account in Serbia – conditions and guide
    
    
3. Ministry of Foreign Affairs of the Republic of Serbia, Document Certification
4. Ministry of Finance, Law on the Prevention of Money Laundering and the Financing of Terrorism
5. National Bank of Serbia (NBS)
6. Rulebook on the Content of the Business Entities Register and Documents Required for Registration
7. Bar Association of Serbia (Advokatska komora Srbije)
8. Welcome to Serbia, Government Portal