Opening a bank account in Montenegro

Bank account openings in Montenegro are available for individuals and legal entities. Individuals need this service to obtain residence permits or citizenship of this country, to buy real estate in it, to invest in business, and simply to pay current payments. Legal entities use this country to develop their business and promote it to the countries of the Balkan region. The Lawtter Solutions law firm offers clients the opportunity to open a Montenegro bank account. We provide quick turnkey registration.

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Opening an account

Lawtter Solutions offers legal solutions in business registration, bank account opening

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Lawtter Solutions offers legal solutions in business registration, bank account opening

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Lawtter Solutions offers legal solutions in business registration, bank account opening

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1 500 EUR*

The cost of the service

1-3 months

Term for opening a bank account

Multilingual

Support

Without a personal visit

Account opening type

Opening an account

Basic information

The financial regulator in Montenegro is the Central Bank of Montenegro – Centralna Banka Crne Gore. This body is responsible for issuing licenses for banking activities and monitoring compliance with the banking system’s rules.

Opening a Montenegro bank account is quite simple. This country has the easiest bank account registration procedure among all the Balkan states, making it a popular destination for immigration and business development.

In total, 15 banks are operating in the country, both local and foreign banks, that have opened branches in Montenegro. Even though Montenegro is not a member of the EU (but has had candidate status since 2008), the official currency here is the euro. This makes settlements with companies from European countries easier and more favorable. One client can open two accounts – local (for domestic settlements) and international. Individuals have the right to get a debit or credit bank card. There is a minimum balance requirement – the account must have at least 1000 EUR.

Advantages of opening a bank account in Montenegro

Opening a bank account in Montenegro gives you several important advantages. The main ones are as follows:

The possibility of settlements in euros

Even though Montenegro is not a member of the EU, it uses the euro as the official currency, thus avoiding high commissions for transfers abroad and double conversion for transfers between Montenegro and EU members.

State protection of deposits

All deposits up to 50,000 EUR are protected by state guarantees.

Equal access to services for residents and non-residents

Persons who are not citizens of Montenegro can use the same banking services as those with citizenship. The same rules apply to them.

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Stages of opening an account

Services by Lawtter Solutions

Lawtter Solutions offers clients the option to register a Montenegro bank account. Our specialists will help to open an account in any of the 15 banks in the country, for example:

CBCG – Prva Banka;
Crnogorska komercijalna banka (CBK Bank);
Erste Bank Montenegro (EBM);
Komercijalna banka AD;
NLB Banka Podgorica and others.

Lawtter Solutions works according to a strict algorithm of actions. It includes 5 steps

Documents

How to open a bank account in Montenegro

In order to open a Montenegro bank account, it is necessary to submit a package of documents.

The list for individuals is as follows:

ID;
Taxpayer Identification Number;
Proof of residential address;
Confirmation of origin of funds;
Resume (CV).

For legal entities, the document package will be as follows:

Constituent documents of the company;
ID of the director and shareholders (and the managing director, if any);
Proof of residential address of the director and shareholders (and manager, if any);
A power of attorney issued by a director (provided the account manager submits the documents);
Confirmation of origin of funds;
Contracts with partners.

The package of documents may vary, depending on the bank chosen by the client and the banking services required.