It is easy to choose a jurisdiction and a bank to open a corporate account? Our experience shows that it is not. You have to take too many factors into consideration to choose the most convenient option, and you have to know the banking systems in different countries and follow the latest news. With that in mind, the specialists of the International Wealth portal offer a free session where they analyze your situation and come up with the best solution.
One of the options we recommend is Montenegro, a promising Eastern European destination with a robust banking sector that will cater to most of your needs. We offer cooperation with a reputable bank in Montenegro (which we will simply call the Bank) that provides a wide range of services to eligible non-resident companies. A standard procedure means that you should pay a personal visit to the banking institution, but we will help you with corporate account opening in Montenegro remotely.
You can click on the link to read a more detailed article on the Montenegrin Bank or get in touch with International Wealth experts to book a free session to choose a suitable destination for your bank account or get help with account opening. You can also ask them any additional questions connected with company setup, asset management, or obtaining a second passport.
Montenegro In a Nutshell
Montenegro is a country that intends to join the EU in 2025 and has all the prerequisites for that, including stable economic growth and the euro as the major currency. Open a corporate account here to get new partners, benefit from new markets, take advantage of convenient financial products, and use some advanced instruments. You can also enjoy ample investment services offered by the Bank. We recommend opening a multicurrency account to work with counterparties from all over the world!
Advantages of Opening a Business Account with the Bank
Each company owner has its priorities depending on a particular situation. Here is what the Bank may offer to you, and it’s up to you to decide whether this is a good match for your priorities:
- Take advantage of an impressive list of banking products and services
- Easily complete international transfers in different currencies
- Benefit from individual treatment by the Bank employees
- Manage your account conveniently via online or mobile applications
- Obtain business debit cards from the Bank to withdraw and pay in USD and EUR
- Make SWIFT payments to your counterparties
- Save on a personal visit to Montenegro as the account can be opened remotely
- Benefit from expert support in multiple languages by competent Bank employees
- Receive money transfers from other countries and get them paid out in the same or in a different currency
- Take advantage of different investment and financial services, like trading in securities, wealth management, or trust and custody transactions
- Quickly made internal and external money transfers in different currencies
- Get loans at attractive rates
- Make deposits to increase your capital
- Obtain bank guarantees as necessary
- Use factoring and financial leasing services
The Bank employees have a lot of experience working with businesses registered in different parts of the globe, small, medium-sized, and large companies, so you will surely feel welcome. The tariffs offered by the Bank are transparent and depend on a particular customer (follow the above link to read our full article and discover the details). You will enjoy the friendly attitude of bank officers and their willingness to cater to your needs in the best way possible.
Restrictions You May Face
The Bank has its requirements for the customers, so not each and every company is eligible. For example, it decided to service only onshore companies in 2018, so this is not your option if you have an offshore company (however, you can go to our portal by following the above link to find plenty of opportunities for offshore companies or ask our specialists to provide the list of existing possibilities).
Here are the requirements to be met by a company to be serviced by the Bank:
- Your company files financial reports in the country where it is incorporated
- Your company timely pays income tax in the country of registration
- Your company rents or owns an office in the jurisdiction where it is registered
There are jurisdictions of incorporation that are not serviced at all or have tangible restrictions. Click on the above link to see a full list as it is quite lengthy.
At the same time, there are countries that will enjoy preferential treatment – contact our experts for updates.
Moreover, companies that engage in particular activities are highly likely to be turned down. These include:
- Your company uses forced labor
- The business activities you carry out are banned or unlawful
- You manufacture or sell ozone-depleting products subject to global control
- You engage in driftnet fishing activities in the sea
- Your activities do harm to the land belonging to indigenous people without their consent
Most companies are unaffected by these restrictions as they are too specific. However, you still have to know them. And even if you find out that your company cannot be serviced by the proposed Montenegrin bank, simply click on the above link to find either good material to read or a specialist to help you.
6 Steps to Open a Corporate Bank Account in Montenegro Remotely
If you follow a standard procedure, you cannot open an account remotely: you will need to prepare a package of documents and make a personal visit to the bank. However, we can help you open an account online and give you recommendations on how to fill out the forms to guarantee that you will be approved.
If you choose to open an account online, here are 6 simple steps to follow:
- Contact us by clicking on the above link and tell us you need a business account
- Fill in the questionnaire we will send you
- Pay for our services
- Prepare a package of documents following our recommendations
- Prepare for the interview with the Bank representative
- Use your fully operational account for your business needs
Do you have any questions? Get answers at our portal!