Regulatory Alerts2012-12-13
Decision on Detailed Requirements and Procedure for Granting and Revoking Consent for Setting up a Representative Office of a Foreign Bank in Serbia
The Governor of the National Bank of Serbia issued this Decision to establish the detailed requirements and procedures for granting and revoking consent for foreign banks to establish representative offices in Serbia. The regulation mandates that applicants submit comprehensive documentation, including home country regulatory confirmation and financial statements, within a 30-day review period, followed by mandatory registration and ongoing operational reporting. Consent is subject to revocation if the foreign bank loses its home country license, engages in unauthorized activities, or requests deletion from the business register.
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