Montenegro Banks

Offshore Banks from the Republic of Montenegro

The advantages of having today your own bank/bank license are numerous. With the proper approach, you may use it to discover new ways into financial and business world.

The Country:

The Republic of Montenegro forms part of The Yugoslav Federation FRY and is situated on Balkans, having the seashore on Adriatic right in the hart of Europe and Mediterranean. The capital of the Republic of Montenegro is Podgorica. The country has its own Constitution and President, as well as Government and Parliament structures. After several years of economic sanctions imposed by UN that were lifted recently, the economy needs foreign investment which was the reason of adopting special laws.


Unfortunately Montenegro Bank Licenses are no longer available. That said Offshore-Manual offers banks and bank licenses from various jurisdictions, i.e. bank licenses in The Republic of Dominica and Anjouan, In additional we have available several banks that are available for sale in the Middle East. Please CONTACT US for the details and modalities.

The Former Legal Base:

The "Act on companies which are established and which conduct business activity on special terms" (hereinafter called Act -press here to get the text of the Act), was adopted by the Assembly of the Republic of Montenegro July 26 1996 in conformity with the Article 88, point 2 of the Constitution of Montenegro. Under this Act a territory of the Republic of Montenegro is declared as a free economic and developing area is guaranteed to foreign legal and natural persons the freedom of establishing companies, the freedom of enterprise and freedom of contracting international business transactions subject to terms and methods prescribed by the Act.

The Republic of Montenegro, by the Act, ensures tax exemptions and relieves and other privileges for establishing and conducting business activity of companies or branches of foreign and domiciling, sojourning and working of foreign citizens.

Types of companies for Offshore Banking operations

According to the Article 2 of the Act one of the allowed activities is to extend financial and non-financial services. To obtain a banking license a company must be established as Joint Stock Company ("JSC") formed by at least two subscribers (as subscriber may participate physical or juridical person) and have it paid capital of US$ 10,000. All the information is kept in the Register of the Ministry of Finance of Montenegro which generally is the following for "JSC":

Data concerning firm and domicile, activity and form of company which is being established ;

Decision to establish company or officially authenticated copy of decision to establish company;

Data concerning the person who represents the company ;

Certificate of payment of corresponding taxes, and

Certificate of deposit, or a security for founding capital.


The Republic of Montenegro guaranties that it will regulate by law and that it will take appropriate measures and actions to ensure that authorized officials in the Ministry of Finance, banks and other organs and organizations who perform duties of registering the company and other duties for the company will keep as officially confident the data concerning identity, documents, reports and all other data with which they become acquainted with in the course of performing activities for company or qualified in conformity with special regulation which the Government will enact.

Bank License

The Ministry of Finance of Montenegro is also a issuing body for the bank license.

Usually a standard bank license allows JSC registered under the Act following banking operations unless other is solicited and approved:
  1. Payments under client instructions and bank exchanges under correspondent banks name, cashing services, establishing of correspondent relations with foreign banks and opening of account "nostro" and "loro",
  2. Opening and supervising of the clients accounts in correspondent banks in foreign currencies,
  3. Acceptance of all kinds of deposits and exercising of all kinds of deposit works,
  4. Attracting and managing of new money instruments, deposits, and credits of business partners, excluding money deposits of Citizens of the Republic of Montenegro,
  5. Financing under other party instruction,
  6. Handling, buying, selling and keeping of payment documents and value papers (checks, letters of credit, shares, taxes and other documents and exercising of other legal operations with these documents,
  7. Granting of bank guaranties for third parties, which foresee payment in money,
  8. Contracting and exercising of factoring services, purchasing of the rights on goods delivery and services granting, acceptance of risks under noncumpliment of such liabilities and bills collecting,
  9. Purchasing and selling of cash currency and currency which is deposited on accounts of juridical and physical persons,
  10. Intermediary operations in trade with value papers,
  11. Purchasing and payment receiving
  12. Attracting and investing of assets and managing of value papers according clients instructions and other persons on the market and trust representation operations,
  13. Rendering of brokerage, consultant service and leasing,
  14. Creating a reserve, insurance and other funds from own and attracted assets for guaranties and insurance and development of banking activity and investment to Montenegro, according to the law on companies established and operated under special terms,
  15. Participating as a founding party or shareholder of banking organizations in Montenegro and also abroad - in daughter banks, as well as in similar institutions and organizations, according to the law on companies that established and operated in Montenegro,
  16. Opening of branches and representation offices on the territory of the republic of Montenegro and abroad".
Such banking license is not limited by time.

Tax Regime

The bank has a duty to file a tax declaration in due time or to hand over to the competent tax authority other data indispensable for establishing taxable profit. The bank pays the tax at the rate 2,5% on its declared profit. In order to establish profit procedure is as follows: deduct from total income all expenditures, outlays and expenses originating from making total income (in conformity with international accounting standards). Tax base established is further, reduced with the amount of financial resources from income which is directed into investments within the territory of the Republic.

Company does not pay turnover tax on property of land and business buildings necessary for conducting its business activity.

Within the territory of the Republic company does not pay property tax on buildings and land necessary for conducting its business activity.

Annual Payments

An amount of US$ 100 is payable to the Registry for the joint stock companies annually. An additional annual fee of US$1,500 is payable for the Registered Agent and Registered Office in the Republic of Montenegro.

Correspondent Accounts

For additional Fee we can arrange correspondent accounts with Western European, North American, Caribbean and Baltic banks.

Formation Time

Usually to form a new bank with the client's directors and name proposed takes 3-4 weeks.

Please note, that we constantly have ready made banks prepared for immediate delivery.

Please, feel free to contact us for any detail.