Absolutely! Acquiring legal residency in Serbia would be a wise thing to do. When you are setting up a branch is also a perfect time to do it, because you can use the new branch to qualify for residence as a foreign investor.  This will let you use the double taxation avoidance agreements for you private purposes and become a resident of a European country. Establishing a foreign company branch in Serbia, registering a new company or purchasing real estate in the country are just some of the ways of obtaining a Serbian permanent residence permit. Legal residents have less trouble setting up personal and corporate bank accounts in the country. Besides, Serbia does not automatically exchange financial (nor any other) information about its residents.