Lawyer
An expert in corporate and international corporate law. He has many years of experience in establishing and reorganizing companies, supporting M&A transactions, as well as providing legal support for opening and running a business in the EU, Asia, and North America.
Opening a bank account in Croatia
The Croatian banking system is two-tier. The system is headed by the Croatian National Bank (Hrvatska narodna banka – HNB), which acts as the central bank and main regulator. Its tasks are to maintain price and financial stability, supervise the activities of commercial banks and implement monetary policy.
The second tier consists of commercial banks. As of today, there are more than 20 banks operating in Croatia, among which several categories can be distinguished:
- Large universal banks with predominant state or private participation: For example, Privredna banka Zagreb (PBZ) (part of the Italian Intesa Sanpaolo), Zagrebačka banka (ZABA) (part of UniCredit), Erste & Steiermärkische Bank (Erste Bank). These banks have the widest branch network and offer a full range of services for businesses.
- Subsidiary banks of foreign groups: For example, Raiffeisenbank Austria (RBA), OTP banka Hrvatska.
- Smaller and specialized banks: Such as Addiko Bank, HPB (Hrvatska poštanska banka), etc.
It is important for businesses to understand that, despite the presence of international giants, the internal policies and requirements of each bank can vary significantly.
Types of Corporate Accounts

- Current account (Tekući račun): The main account for daily operations: receiving payments from customers, paying suppliers, paying salaries, paying taxes. Opening it is the first priority for a new company.
- Deposit account (Štedni račun/Depozitni račun): Designed to store temporarily free funds with interest income.
- Foreign currency accounts (Devizni računi): Accounts for operations in foreign currency (USD, EUR, CHF, etc.). After the transition to the euro, they were no longer needed for operations within the Eurozone, but they remain relevant for trade with third countries.
- Specialized accounts: For example, accounts for project financing purposes, accounts for stock exchange trading, etc.
At the same time, the process of opening an account is strictly regulated and aimed at combating the legalization (laundering) of proceeds from crime and the financing of terrorism (Anti-Money Laundering / Combating the Financing of Terrorism – AML/CFT).
Basic requirements of banks for opening a corporate account
- Documents confirming the status of a legal entity
For Croatian companies:
- Extract from the Commercial Court Register (Ispis iz sudskog registra) not older than 30 days.
- Articles of Association of the company (Temeljna akta / Statut).
- Proof of VAT registration (OIB certificate) – Personal Identification Number (Osobni identifikacijski broj – OIB), which is an analogue of the tax code.
For foreign companies (non-residents):
- Legalized extract from the commercial register of the country of registration with an apostille or consular certification (depending on the jurisdiction) and its certified translation into Croatian.
- Legalized and translated statutory documents (Certificate of Incorporation, Memorandum and Articles of Association, etc.).
- Proof of registration with the tax authorities of the country of registration (e.g. Certificate of Tax Residence).
- Documents identifying beneficial owners (UKV) and representatives
For beneficial owners (UKV) and directors:
- Copy of passport or other ID (passport is preferred).
- Proof of residence address (not older than 3 months): utility bill, bank statement, official letter from a government agency.
- For sole proprietors (Obrtnik): Proof of registration in the Trades and Crafts Register (Obrtni registrar) and OIB.
At the same time, the bank may also request:
- Business plan (Poslovni plan): Detailed description of future activities: markets, products/services, main counterparties (suppliers and buyers), projected turnover.
- Proof of source of funds: These can be: statements from other bank accounts, purchase and sale agreements, loan agreements, investment agreements, tax returns confirming income.
- Expected nature and volume of operations: Information on the expected amounts and geography of incoming and outgoing payments.
- CV/resume of key managers and owners, confirming their experience in the declared field of activity.
Procedure for opening a corporate account
The process can take from 2 weeks to 1 month or more, depending on the complexity of the case and the speed of providing documents.
- Choosing a bank and preliminary contact
You should not apply to several banks at the same time, as the refusal of one of them may complicate the process in another. You can contact international banks that have experience working with foreign companies (for example, Erste Bank, Raiffeisenbank) and send a short request (initial inquiry) with a description of the company, its structure and planned activities. This will allow you to assess the bank’s willingness to cooperate.
- Filling out questionnaires and providing documents
After preliminary approval, the bank will provide an account opening questionnaire and a final list of documents. All documents must be provided in the proper form: legalized, with an apostille, with a certified translation.
- Personal presence
This is a mandatory requirement for beneficial owners (UKV) and/or directors who will have the right to sign. Company representatives must personally appear at the bank branch for identification. Some banks may offer a manager visit or the use of a video identification system, but this is still not widespread.
- Compliance Check and Risk Assessment
The bank’s security service (Compliance Department) conducts a thorough check of the documents and information provided. They may ask additional questions, request additional documents. At this stage, the bank makes the final decision on opening an account or refusing.
- Conclusion of an agreement and activation of the account
After a successful check, the company signs a banking service agreement. After that, the account is activated, a number (IBAN) is assigned to it, and it can be started using it.
Our company “Prikhodko & Partners” offers comprehensive support in opening a bank account in Croatia, providing clients with full legal coverage of all aspects of this procedure. Our specialists, who have a deep understanding of the local legislative framework and internal policies of key banks, help not only to collect and prepare the necessary package of documents, but also to develop a convincing business story that meets the requirements of compliance departments.
We take on the organization of all communication, provide qualified translation services, and provide legal support at every stage — from choosing the most loyal bank to the successful activation of your account.
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