At this time the Montenegrin legislation does not stipulate regulations for Crypto companies therefore currently this service is unavailable.
In Montenegro, cryptocurrency is not governed as a recognized payment method, but it is also not explicitly forbidden to use. So, if you are planning to open a cryptocurrency company in Montenegro, you are welcome to get in touch with our company incorporation agents.
Furthermore, if you want to open a branch in this country, you can also rely on the services of our incorporation experts. They will provide you with comprehensive guidance regarding the obligations and regulations of a branch in Montenegro.
There is no clear regulation of the cryptocurrency industry in Montenegro. However, the standards enacted in the nation and Europe should be followed by exchanges and exchangers even when a license for cryptocurrencies has not been awarded. In preparation for its upcoming membership in the EU, Montenegro has updated its financial legislation and included the regulations of the EU.
So, to open a cryptocurrency company in Montenegro, you ought to:
Bearing in mind all these points, you can open a cryptocurrency company in Montenegro, or our local agents can provide you with practical guidance throughout the incorporation process. Furthermore, online incorporation is also available in Montenegro. All you have to do is to choose any company type and interact with our agents. They can perform online incorporation for you.
The nature of the assets must be thoroughly analyzed to receive a crypto license in Montenegro. Additionally, a precise set of regulatory requirements that the company’s potential license recipient adhere to must be identified. There are no specific legislative provisions that would govern the requirement of a separate license in this jurisdiction to deal with such assets. An analysis by our experts regarding the type and traits of the cryptocurrency assets used in the transactions that will be carried out is provided below:
All these are the steps for registering a crypto license in Montenegro. This virtual form of currency is not completely regulated yet, so, you might face difficulties while getting a crypto license registered. It is recommended to acquire the services of our company incorporation consultants in Montenegro. They can provide you with comprehensive assistance to help you open a cryptocurrency company in Montenegro and also to acquire a related license.
In addition to acquiring a crypto license in Montenegro, you can also get in touch with our company incorporation experts if you want to open a shelf company. Besides incorporating a shelf company, it is suggested to buy a readymade shelf company. This smart approach can save you a lot of time and hassle.
Regarding the unique taxation structure for crypto assets, the local tax authorities gave no justification. Additionally, the law does not stipulate any particular guidelines for the taxation of earnings from businesses using crypto assets, including capital gains. The number of transactions involving this class of assets must be specified in one of the fiat currencies, like Euros. However, if you are willing to open a cryptocurrency company in Montenegro after obtaining residency here, you can interact with our experts. They will inform you about the updates as soon as the Montenegrin government passes potential regulations. This assistance will help you to comply well and effectively with the taxation rules.
In addition to this information, our agents can also provide you with investment details if you want to immigrate and avail yourself of Montenegro citizenship by investment there. It comes with the benefit of free movement to places like Montenegro, the Schengen Area of Europe, Russia, and Turkey, etc. It takes 8-10 months to approve an application of Montenegro citizenship by investment after it is submitted.
Cryptocurrencies are not currently covered by Montenegro’s anti-money laundering and money transmission regulations. Although the present Prevention of Money Laundering and Financing of Terrorism Act does not directly address cryptocurrencies, a broader interpretation can lead to the conclusion that cryptocurrencies should be covered by the definition of “assets” and as a result be subject to this law.
But in 2018, the government introduced the Prevention of Money Laundering and Financing of Terrorism Act Amendments, which, among other things, mandate that all legal and natural persons disclose cryptocurrency transactions over the equivalent of EUR 15,000 in value. These changes have not been adopted yet, though.
However, Montenegro features advanced financial regulations and incorporates EU directives’ guidelines. The implementation of AML (anti-money laundering) legislation should therefore be handled by cryptocurrency platforms (this is a Pan-European requirement for holders of licenses for cryptocurrency exchanges). The Montenegrin cryptocurrency company must have policies to combat money laundering and terrorist financing, internal control rules, technical means of tracking suspicious transactions, etc.
If you have further questions regarding how Montenegrin cryptocurrency companies comply with the anti-money laundering legislation, consult with our agents. They will not only help you to set up a cryptocurrency company in Montenegro but also assist you in understanding the related rules and regulations.
Businesses in the cryptocurrency space are not just built around creating new coins or mining existing ones. Investors have a variety of chances for startup concepts that will connect with an existing or new bitcoin or blockchain company. They are a complicated skeleton of duties and related services, for instance:
If you are wondering how to initiate these startups in Montenegro, you are welcome to get in touch with our company incorporation experts. They can explain it to you in detail.
Furthermore, you may rely on the assistance of our incorporation specialists if you want to set up a branch in Montenegro. They will give you in-depth instructions on the rules and requirements of a branch in Montenegro.
In addition to assisting you with the registration and legalization of businesses relating to the Fintech sector, virtual financial products, and non-fiat currencies, our company incorporation agents in Montenegro can complete the necessary documentation for cryptocurrency exchange licenses.
Our experts will choose the jurisdiction for you, create a plan of action, a company, and a tax scheme, and provide assistance with technical and organizational challenges. Their services are at your disposal, you can also get customized services related to the formation of a cryptocurrency company in Montenegro.
Please find below the services of our specialists related to cryptocurrency company incorporation, they will:
You can also get additional legal protection for cryptocurrency-related activities in Montenegro from our company registration specialists. With the assistance of our agents, you can start working in a promising field legally and without wasting any time or effort.
If you are planning to open a cryptocurrency company in Montenegro, you are welcome to get in touch with our experts. However, you can also find below the general crypto regulation ranking in this country:
Contact our company incorporation experts if you are interested to acquire a crypto license in Montenegro. They will assist you in all possible means.
Furthermore, if you are unable to afford a commercial office in Montenegro, you can get a virtual office instead. Our experts can provide you with details about available virtual office packages and also help you to select an appropriate package as per your business needs.