February 23, 2021 - After being told it would take weeks by another bank, opening a Croatian business bank account in 46 minutes as a foreigner IS possible.
I ALMOST had the perfect day with Croatian bureaucracy last week.
The mission was daunting. First stop, Raiffeisen Bank in Varazdin to sign a leasing contract for my new (not so new) car. Then to the notary to notarise the contract, which I then had to return. Then off to the heroes at FINA to collect the documentation for my new jdoo company. then on to my bank PBZ - where I have had a private and a Croatian business bank account for 18 years. My simple mission was to open a bank account for the new company, return a document to my FINA heroes, then pick up some chicken from the market, and there would be curry for lunch. You can see how I did in 'Beer to Go' to Celebrate a Morning with Croatian Bureaucracy.
As a spoiler alert, I didn't manage to open the bank account. I was shocked to be told that as a foreigner (they did not ask my nationality), opening a Croatian business bank account in Varazdin was not possible. I would have to travel to Zagreb for this. Crazy, I thought to myself, as I headed to the market, the chicken curry now guaranteed. But not too inconvenient, as I would be in Zagreb two days later.
My wife called ahead to make sure it was possible and to make an appointment. It was indeed possible to make an appointment, but the earliest available slot was on March 3, some two weeks ago.
Let me get this right. Opening a Croatian business bank account as a foreigner (the PBZ rules are apparently different for locals) meant I would have to drive 160 km round trip and wait two weeks for the privilege?
In 2021?
My long-suffering accountant, Gordana, confirmed that this was indeed the case after she called the bank to check. A recent change of policy, apparently.
This is nuts, I thought. So I posted on Facebook and LinkedIn, with a challenge to anyone working in the industry. Was opening a Croatian business bank account as a foreigner possible in one day? I even offered to write an article on TCN about the process, which I thought would be a good PR incentive.
I was disheartened by the early feedback. Representatives of various Croatian banks were tagged by my social media followers, but none got in touch. And then someone said that I should try Raiffeisen Bank - you could even do most of the application online.
Really?!?
We checked, my wife called, and it seemed to be true. Or I could do it in person, the very helpful Varazdin branch confirmed. I chose the latter. And I decided to time it.
Arriving exactly at 15:00 my soon-to-be new best friend, Nenad, took my papers, passport and ID and inspected them. All was in order. This should not take long, he exclaimed in perfect English.
A few questions, a few signatures, and all was done. Could I add my accountant to the account, give her online access and have all the bills sent to her?
Of course, replied Nenad. What is her name, perhaps she is already in our system? And there she was, young Gordana smiling out of Nenad's desktop. We got her on the phone and confirmed some details and all was set up.
Absotulely painless.
Timeline 46 minutes from start to finish with the opening process, including downloading the application and training on how it works.
Today, I will get the number of the account and the online access codes, and we are ready to roll.
Just 46 minutes in the bank rather than the anticipated hours of torture, leaving plenty of time for the finer things in llfe.
Nenad, I salute you, Sir. A lovely man, for a Liverpool fan. Masked up for the entire process, he did consent to a photo without a mask for this article.
I don't know if Raiffeisen has an initiative for rewarding star employees, but my vote for a gold star and chocolate biscuit goes to this young man.
For more on the joys of Croatian bureaucracy, click here.
