Purchase or sale of securities at the regulated market and multilateral trading platform can be executed by any legal entity and natural person exclusively through a broker ( authorised bank or brokerage house).

Authorised bankErste Banka  a.d. Novi  Sad  provides its clients with all kinds of brokerage service.

If you are interested in buying and selling financial instruments (shares, frozen foreign currency savings bonds...),it is necessary to enter into agreements at the nearest Erste bank a.d.branch office which would stipulate your rights and dutiesin the course of financial instrumenttrading, or more precisely it is necessary to enter into the Agreement on BrokerageServices and Agreement on Opening and Maintaining Securities Account.

If you are a resident natural person, you will be required in the course of entering into the Agreement on Brokerage Services and Agreement on Opening and Maintaining Securities Account with Erste Bank a.d. Novi Sad  the documentation as follows:

  • ID card
  • Power of attorney  - if a client has a proxy, power of attorney should be signed and sealed by a competent court

If you are the OWNER OF FROZEN FOREIGN CURRENCY SAVINGS BONDSwhich you would like to sell, it is necessary to enclose statement of the ownership account with the bank where the bonds are deposited,if the bonds are not at Erste Bank a.d. Novi Sad.

If you are a resident legal entity, in order to enter into the Agreement on Brokerage Services and Agreement on Opening and Maintaining Securities Account with Erste Bank a.d. Novi Sad, the following documentation is required:

  • Excerpt from the Registry of Commercial Entities (less than 3 months old),
  • TIN certificate,
  • OP form – form containing notarised signatures of authorised representatives of the company,
  • Copies of ID cards of the persons included by OP form,
  • Copiesof the owners'personal documents (if the owner is a legal entity, the documentation is required for him, as well, and the same procedure applies all the way to the last natural person that has at least 25% of the ownership share),
  • Authorisation for the signatories in the event that they are not the persons referred to in OP form.

If you are a foreign naturalperson or legal entity, it is necessary to provide a tax representative who is a natural person with the Serbian citizenship and:

  • who shallon your behalf and for your accountbe provided by Tax Administration with the tax identification number (TIN) for non-residents,
  • who shall, upon completed trading in Serbiaand withdrawal of funds to the country where the head office is located, take all legal and factual actions for the purpose of transferring residual funds.


In order for your proxy to be issued TIN, you are required to prepare as follows:

If you are a foreign natural person:

  • Copy of your passport (with an authorised notarial certification)
  • Authorisation for tax representative (with an authorised notarial certification)
  • Power of attorney–if a client has a proxy, signed and certified by competent authority

If you are a foreign legal entity:

  • Evidence  of legal entity registration from appropriate register of the country registered office is located, ;less than 3 months old, which must contain: name of the legal entity , identification number, date of foundation, address of  legal entity's registered office, list of directors
  • Copies of the directors' personal documents
  • Ownership structure of the legal entity which applies all the way to the last natural person, with at least 25% of the share
  • Copies of the owners' personal documents

Each of the referred documents must be submitted in its original form, or copy with an authorised notarial certification, as well as translated into the Serbian language and certified by an authorised court interpreter.

The above mentioned documents, along with the TIN Certificate that tax representative shall provide you with, are sufficient for the broker of Erste Bank a.d. Novi Sad to enter with the client into:

  • Agreement on Opening and Maintaining of Securities Ownership Account (opening ownership account at Central Securities Depository),
  • Agreement on Brokerage Services,



Upon the receipt of TIN and completion of documentation at the broker, Erste Bank  a.d. Novi Sad,it is necessary to open special purpose RSD or FX accounts for the purpose of securities trading.

If the client uses the services provided by CUSTODY SERVICE, required documentation is similar as above mentioned, for each of the referred types of clients, with the difference that Tax Identification Number Certificate, as well as numbers of trading accounts are submitted to Erste bank by client's custody bank and the client additionally submits to Erste bank Settlement instructions in its Memorandum, in which full name of its custody bank is provided and the client's preferred method of notification on the executed trading transactions by the employees of Erste banke a.d.

Prior to each securities purchase, buyer is obliged to submit Receipt on Money coverage for transaction. Commercial bank with which the client has opened special purpose cash account is obliged to issue such receipt. The receipt is necessary as a coverage for the securities purchase order.

Upon realisation of purchase/sales order, Notification of the Order Effected shall be submitted to the client in a written form by post. Suchreceipt/notification shall be submitted to the competent Tax Administration by the client as a basis for calculation of possible capital gaintax.

Following the realisation of purchase/sales order, it takes three weekdays for the transaction settlement. If sales order is effected, the money will be paid in after three weekdays on special purpose cash account for selling shares at commercial bank, i.e. if purchase order is effected, on the third weekday following the date of realisation the shares will be booked on the securities account at Central Securities Depository.

At the request of the client, Erste Bank a.d. Novi Sad can ask Central Securities Depository for an early settlement of the transaction effected which may and may not accepted by  the other party of the transaction:

  • T+0 – transaction bill be settled on the same day
  • T+1 - transaction bill be settledon the first following weekday
  • T+2 - transaction bill be settledon the second day following the realisation date