Opening an account in Montenegro

Why open a bank account in Montenegro ?

Montenegro is the only remaining country in Europe using the EURO as their official currency who has not yet signed OECD automatic exchange of information

How to open a bank account?

A meeting in person is needed to sign the documents at the bank.

All documents are signed in English.

Who can open a bank account ?

Individuals,  Companies (EU, non EU, offshore jurisdictions), US citizens (director or shareholder or company) are all accepted.

Our Services

We provide  bank account opening using our local representatives to assist in the process

Requirements :

  • For individuals
    • Valid Passport
    • No utility bill required
  • For companies
    • Recent documents with apostille (less than 3 months old), the bank will keep them (initially the documents must be provided and will be returned after the bank account is opened)
    • Valid Passport of the director
    • A copy of the passport of the shareholder(s) with apostille
    • No utility bill required
    • Stamp of the company may be needed in case the stamp is written in Bylaws

 

Opening Fees :

  • For individuals
    • 1900 EUR
  • For companies
    • 2900 EUR

There are no fees apart from the fees for the POA, the copy of the passport(s), the shipping of documents to us and also the bank fees. The documents, the debit card(s), internet banking access and all bank agreements signed are delivered to you free of charge.

(POA is needed for our local representative to collect Internet Banking and Cards)

Corporate opening accounts bank fees are around 200 / 250 EUR.

Opening fees are charged for companies after bank approval.

Bank Services

Banks are providing a local account in EUROs for internal Montenegrin transactions and debit card(s).

An international multi currency account such as EURO, USD and GBP.

Both accounts have IBANs,  MEXXXXXXXXXXXXXXXXX and also the banks have swift codes with direct routing.

Account funds are guaranteed by the National Bank up to  25 000 EUR.

On Individual accounts you do not have to report to the bank on transactions, in/out transaction on individuals or other corporate accounts within or outside the country.

On Corporate accounts all in/out transactions outside Montenegro must be documented, a simple invoice is needed.