Obtaining a Gambling License in Montenegro

Montenegro is a dynamically developing country that wants to join the EU. In the gambling industry, this country is famous for issuing licenses for online casinos and other types of gambling. Gambling here is legal and regulated by the government. There is a strict procedure for obtaining a casino license in Montenegro, and it is vital to follow it and go through all the steps to avoid facing rejection and wasting time. Lawtter Solutions offers clients turnkey services for licensing in Montenegro.

Advantages

What Are the Advantages of Getting a License in Montenegro?

Montenegro is a pretty popular country for gambling licenses. Licensing in Montenegro has several significant advantages. They are as follows:

1

Economically stable country

Montenegro is a democratic country with a dynamic economy, especially in the tourism sector. The economic situation here is stable, and significant shocks are extremely rare.
2

Single license for land-based and virtual gambling establishments

Once authorized, a company can conduct online activities and open offline locations.
3

Strict regulation

Montenegro's gambling regulator sets clear and transparent rules for obtaining licenses. Accordingly, Montenegro is reputable and is not blacklisted.
4

A comprehensive list of gambling activities

It is possible to obtain a license for a casino, bookmaker's office, card games, bingo, TV draws, lotteries, and slot machines.

Thus, Montenegro is a desirable jurisdiction for the gambling business.

Regulation

Regulation of Gambling Activities in Montenegro

There is a special body that carries out licensing in Montenegro. It is called Games of Chance Administration. This body establishes the requirements for obtaining gambling activity permits and issues licenses. In Montenegro, three regulations control gambling activities.

They are as follows:

  • Gambling Act.
  • Anti-money laundering regulation.
  • Financial Crime Regulation.

 

According to these documents, gambling companies are required to adhere to KYC policies. There is a vital nuance that concerns licensing. First, companies are required to obtain a land-based casino license. The online gambling permit can be obtained as an addition to the license for land-based gambling locations. This nuance can create some difficulties for licensees but provides a significant advantage at the same time. Given how much tourism is growing in Montenegro, opening offline locations will also be profitable.

Requirements

Requirements for Obtaining a License in Montenegro

To obtain a gambling license in Montenegro, you must meet numerous requirements. The first of these is the mandatory registration of the company in the country. To open a casino in Montenegro, you can register a company as a limited liability company (LLC) or joint stock company (JSC).

 

In Montenegro, there are mandatory requirements for the authorized capital of gambling companies. They differ depending on the activity the company plans to engage in. The requirements are as follows:

  • Land-based casinos – 550,000 EUR.
  • Virtual casinos – 500,000 EUR.
  • Lotteries – 500,000 EUR.
  • Bookmaker’s offices – 250,000 EUR.
  • Bingo – 75,000 EUR.

 

Each company must have at least one shareholder and one director. It is also possible to appoint managing directors. There are no residency requirements. However, a mandatory condition is that shareholders, directors, and managers must not have a criminal record.

All licenses that are issued in Montenegro are fixed-term. Their validity period is as follows:

  • Virtual casinos, betting offices, slot machines, bingo – 3 years (with extension up to 2 years).
  • Land-based casinos and lotteries – 10 years with the possibility of extension for 5 years.

 

Renewal of the license does not require going through the procedure again. However, suppose there were violations during the activity. In that case, the operator may be deprived of the authorization for gambling activities, in which case it will be necessary to go through the procedure again.

It is also essential to know about taxation in Montenegro. It also differs depending on the type of activity. It differs not only in the amount but also in the structure.

  • Virtual casinos and betting offices – a monthly fee of 10,000 EUR.
  • Land-based casinos – monthly payment of 10% of GGR + fixed monthly fee of 50,000 EUR per year.
  • Betting offices with offline points – monthly payment of 10% of GGR + fixed monthly fee of 500 EUR per point.
  • Lottery, bingo – 10% of the amount, calculated according to the formula “the number of tickets sold – prize fund.”

Documents

What Documents Are Required to Obtain a License in Montenegro?

You must submit a document package to obtain a gambling license in Montenegro. It includes:

01

Constituent documents of the legal entity.
02

Data of directors, shareholders, managers.
03

Certificates of the absence of a criminal record of directors, shareholders, and managers.
04

Bank account statement with a sufficient amount of authorized capital.
05

Business plan for 3 years.
06

Casino rules, internal control documents.
07

AML/KYC Policy.
08

Technical specification of slot machines.
09

Software certificates.

It is also necessary to provide receipts for payment of all mandatory fees.