API Bank (Serbia)

Account opening:

- for individuals - free of charge;

- for legal entities registered in the EU and the EEA – EUR 1,000;

- for legal entities registered outside the EU and EEA – EUR 1,500.

Important! If the Bank refuses to open an account, the opening fee is not refundable.

If the company consists of a complex ownership structure, an additional fee is charged for opening an account - 500 EUR for each company included in the structure.

Connecting the E-banking services (Smart Card + card reader for internet Bank) – 10 000 RSD + shipping costs.

During the consideration of documents, as well as after opening an account, additional expenses are paid for the translation of documents into the Serbian language (the Bank translates the documents on its own) and for sending an agreement with the Bank using DHL service.

In addition, the bank charges fees when processing changes to the client: change of beneficial owner, change of power of attorney, name of legal entity, registered office, etc.

None.

Using E-banking. The bank issues a device for Internet banking in the form of a flash drive or card reader.                                                                    

Account maintenance:

- for legal entities registered in the EU and EEA -50 EUR/month;

- for legal entities registered outside the EU and EEA – 60 EUR/month. 

Closure of the accounts - 12 000 RSD.

Incoming payments:

- transfers in USD – 0,15% (min 1 500 RSD);

- transfers in EUR – 0,1% (min 1 500 RSD).

Outgoing payments in all currencies – 0,5% (min 4 500 RSD/max 150 000 RSD).

More details about the tariffs can be found here.

The preliminary stage includes the collection and provision of documents necessary for opening an account for the company and the attorney/beneficiary.

Term of the preliminary stage will depend precisely on you.

The process of reviewing documents by a bank and making a decision on opening an account takes about 1 month from the moment all documents and forms have been submitted to the bank, as well as a meeting with the bank representative to identify the client.

API Bank follows the «know your client» principle and therefore you may be requested to provide any additional information or documents concerning the procedure of opening the account that may take additional time, as well as refusing of account opening without reasons explanation.

Russian/English speaking.

Visa.

Loans, factoring, deposits, documentary operations.

Forms for signing are provided at the bank office in a personal meeting with the manager. The bank does not open accounts remotely; the personal presence of the account manager in Belgrade is required for identification and signing banking forms.

Documents for the company. It is necessary to provide the originals of all statutory documents under the apostille, as well as the Certificate of Incumbency under the apostille and Certificate of Good Standing under the apostille, dated no later than 3 months from the date of submission of documents for the bank’s consideration. In addition, it is necessary to provide the following:

- a detailed description of the company’s activities (in English) indicating the partners, their web-sites and the planned transactions from the account, certificate of incorporation;

- if the company has been conducting activities for more than a year, it is necessary to provide the latest financial statements in English, regardless of the jurisdiction of the company;

- account statement for the last 6 months, if the company has already conducted activities in another bank;

- description the reason for opening an account in Serbia (partners, potential interest in the Serbian market, etc.).

Documents for the account holder:

- original of national passport;

- original of foreign passport;

- original of identification code (taxpayer number);

- curriculum vitae;

- original of bank reference;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence).

Documents for the beneficiary:

- original of national passport;

- original of foreign passport;

- original of identification code (taxpayer number);

- curriculum vitae;

- original of bank reference;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence);

- education documents (diplomas, certificates, etc.);

- documents confirming the source of income (welfare) of the beneficiary. It can be:

- a certificate from the place of work indicating salary and statement of personal account, where payroll is displayed;

- tax returns;

- documents confirming inheritance;

- documents confirming money donation, as well as their availability on accounts;

- documents confirming the  presence/sale of real estate/movable property;

- if the beneficiary is the founder of the company - documents for the company, extracts from company accounts, tax returns, documents confirming the payment of dividends;

- if the beneficiary is a private entrepreneur - extract from the register, tax returns on the entrepreneur, bank statements;

- Certificate of deposit from the bank, as well as documents confirming the source of income;

- other documents that show sources of income.

Documents for nominal director, shareholder and secretary (in case of using nominal service by company):

- set of documents affixed with apostille, which includes copies of: passport, utility bill no older than 3 months and bank reference (if nominal director, shareholder and secretary are natural persons);

- set of statutory documents affixed with apostille, which includes Certificate of Incorporation, Memorandum, Article of Association, Minutes of the director designation (if director is legal entity). Also may require Certificate of Good Standing affixed with apostille, Certificate of Incumbency affixed with apostille and documents on this director, which includes set of documents affixed with apostille: copy of passport, utility bill no older than 3 months and bank reference.

At the meeting with the bank, the client must have the original documents with him/her, the bank takes copies and returns the originals to the client. The bank translates documents into Serbian, the cost of translations is paid by the client!

To begin the procedure, it is necessary to visit our office in order to fill in a questionnaire and check the package of documents for opening an account. The completed application form and all scanned copies of documents for the company are sent to the bank for preliminary review. If the bank’s decision is positive, it is necessary for the account manager to visit the bank’s head office in Belgrade for identification procedure and signing bank forms and paying a bank commission for reviewing and translating documents into Serbian. During this meeting, all company documents must be provided in the original. Account opening forms are also signed at the meeting. Once a positive decision to open an account is made, the client gains access to manage the account.

www.apibank.rs