Montenegro is not a member of the European Union, but it uses the euro as its official currency. This means that individuals who open a bank account in Montenegro can enjoy the benefits of the eurozone, including free movement of capital and access to the European payment system. If you are interested in opening a bank account in Montenegro, you are welcome to get in touch with our company formation agents.
There are several types of bank accounts available in Montenegro for individuals and businesses, each with its own features and benefits. Here are some of the most common types of bank accounts, if you are interested in setting up any bank account, our company formation agents in Montenegro can help:
It is advisable to research the features and fees of each type of account and choose the one that best suits your needs. Or you can also get in touch with our company formation specialists for information. Furthermore, if you are interested in a Montenegrin virtual office, our agents can help you get one.
Foreigners can open a bank account in Montenegro, but the process may vary depending on the bank and the type of account they want to open. So, it is recommended to get in touch with our company formation specialists in Montenegro. They can help businessmen in opening a corporate bank account. However, here are also some general steps you can follow to open a corporate bank account in Montenegro:
Please note that some banks may have specific requirements or restrictions based on the type of company or business activity. It is recommended to seek the advice of our Montenegro company formation agents before proceeding with the account opening process. They can assist you throughout the proceedings of corporate bank account formation.
Furthermore, if you are interested in starting a branch office in Montenegro and need assistance for opening a corporate bank account for it in 2024, our company formation agents can assist you.
The requirements for opening a bank account in Montenegro in 2024 may vary depending on the bank and the type of account you want to open. However, here are some general requirements that you will need to meet:
It is advisable to consult the bank you want to open an account with to confirm the specific requirements and documentation needed. Or our company formation consultants in Montenegro can also offer you updated information in this regard. With their assistance, you can open a corporate bank account in Montenegro without unnecessary delays.
In addition to this, the services of our agents are also at your disposal if you want to open a D.O.O in Montenegro.
If you have a residence permit or own property in Montenegro, you can open a personal bank account as foreign citizen. For this purpose, you will need to file the following papers with the chosen bank:
The process of opening an account takes a few days, sometimes even less, and the bank staff will ask you for personal details such as your residential address, phone number, and email address. After that, they will scan your passport.
Debit cards, mobile banking, and online banking are all common services in Montenegro. Please mind that you must request each solution separately. Your employment situation, your financial details will all be included in the personal account application form.
You can rely on our local consultants if you need more information on how to set up a Montenegrin bank account as a foreigner in 2024.
The Montenegrin company formation procedure is conditioned by having a local bank account. For this purpose, you will need to open a business or corporate account.
Please be aware that opening a bank account for your business is subject to stringent due diligence requirements, and you should also prepare for potential additional documentation requests from banks. The necessary documentation is listed below:
The account opening paperwork must be signed in person by the company director. In order to enter Montenegro, non-citizens must first get a residence permit. Montenegro provides both local and foreign accounts, each of which must be requested separately during the opening process.
You can rely on us for representation during the corporate bank account opening process in Montenegro until one of the directors meets with the bank representatives.
Montenegro relies on a dual-account banking system. There are two types of accounts that can be created in this country, each of which has unique features, as follows:
Another particularity of Montenegro’s banking industry is that is already uses euro as a national currency without being an EU member state. As a result, Montenegro’s Central Bank doesn’t print any money.
Please find Montenegro’s FDI for 2022 below:
The country provides excellent monetary stability and economic independence. In Montenegro, both foreign and domestic businesses are treated equally. 100% of a domestic company may be owned by foreign corporations, and they are free to repatriate their profits and dividends. Moreover, there is no foreign investment screening in Montenegro.
Please contact our Montenegro company incorporation agents if you want to learn about the types of bank accounts in this country. Besides this, our agents can also help you set up a bank account in Montenegro.