Serbia Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in serbia, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Trade Financing
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Methods of Payment

Standard international forms of payment are widely used throughout Serbia. Larger importers frequently receive goods purchased under short-term (typically three-month) supplier credit arrangements. For payments abroad, Serbian companies commonly employ remittances, documentary collections, checks, payment cards, and letters of credit. The National Business Registers Agency remains a reliable source for financial statements and solvency-related services. For further information or guidance on the full range of payment methods and trade finance options, consult the Trade Finance Guide.

Banking Systems

Serbia currently has 20 commercial banks, the majority of which are owned by foreign financial groups. The National Bank of Serbia (NBS) formulates monetary policy, manages foreign exchange transactions, and supervises banks, insurance companies, and voluntary pension funds. The NBS pursues a strict monetary policy aimed at controlling inflation and maintaining exchange rate stability—the Serbian dinar is officially free-floating but is managed closely against the euro. The NBS is and independent and autonomous entity in carrying out its tasks laid down by the NBS Law and other laws and is accountable for its work to the National Assembly of the Republic of Serbia. Jorgovanka Tabakovic continues as Governor of the National Bank of Serbia for her third six-year mandate.

The Law on Banks defines the regulatory framework in detail. Supervisory authority is vested in the NBS, which oversees licensing, compliance, and solvency. A buyer seeking more than five percent of a bank’s capital must obtain NBS approval. The required initial capital for establishing a bank is EUR 10 million (approx. USD 10.7 million). A minimum of two executive board members must manage each bank. Foreign banks may open representative offices in Serbia for research and promotional activity—but these offices are prohibited from operating banking services and must obtain NBS consent and be registered locally. As of September 2025, there are three registered representative offices in Serbia.

Serbia’s Export Credit and Insurance Agency (AOFI) provides export credit insurance, export financing, and recovery solutions for Serbia’s export-oriented businesses. The agency coordinates with domestic and international partners to preserve capital value, conduct rigorous credit evaluations, and promote the development and insurance of receivables in export transactions.

Foreign Exchange Controls

The Serbian dinar (RSD) is the legal currency. While the dinar officially floats, the National Bank of Serbia has maintained a tight peg to the euro in recent years. Current legislation imposes no restrictions on the ability of local businesses to pay for imported goods and services, and companies in Serbia can hold foreign exchange accounts in authorized banks for international payments. Recent amendments to the Law on Foreign Exchange Operations, effective March 2025, further strengthen NBS oversight, intensifying supervision over anti-money laundering (AML), counter-terrorism financing (CTF), and introducing new administrative penalties and asset control measures compliant with EU norms. Foreign exchange may be purchased at any time for import transactions, while speculative FX trading remains prohibited.

Foreign exchange transactions for imports, loan disbursements, and intra-company transfers are subject to close scrutiny by the NBS, which may individually examine cross-border movements. Increased regulatory attention toward digital and internet-based payment systems is present, and repatriation of export proceeds is required within 60 days. These amendments have modestly raised the cost and administrative burden for cross-border e-commerce in Serbia.

U.S. Banks and Local Correspondent Banks

As of 2025, no U.S. banks operate in Serbia. Companies requiring bank services may consult local banks with established correspondent relationships with major U.S. financial institutions for international transfers and settlements.

For in-depth investment, banking, and intellectual property protection information, see the U.S. Department of State Investment Climate Statements.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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