How to open an account in Montenegro

The main argument in favor of opening an account in Montenegro is the use of the euro there as the official currency. Open an account in Montenegro – Lawrange is preparing to join the European Union in 2025, having very real prospects for this. This circumstance adds to the attractiveness of the jurisdiction for business.


Lawrange Law Firm offers a full range of services to support international business in Montenegro, including the service of opening a bank account. Depending on the specifics of the company’s activities, we will select the best option for a banking institution, arrange for a client to visit a bank or undergo a bank check remotely. We are also ready to provide the necessary support when opening personal accounts in Montenegro.



Key features of the account opening procedure

Montenegro’s preparation for joining the EU led to the curtailment of cooperation between banks and offshore companies, starting in 2018. The best option for international business is registration in the country of the company, and then opening a corporate account for it.


Important! The specialists of Lawrange JSC recommend using package services: registration of a company + opening an account in one of those banking institutions with which we cooperate. As a result, the client receives a convenient platform for relations with European counterparties.


Depending on the bank chosen, you may need a personal visit from the director, who will be accompanied by our lawyer. Along with this, it is possible to issue an invoice by power of attorney, subject to additional payment. If the company registration + account algorithm is used, then the visit by the director of the company to the country includes resolving the issue of obtaining a tax number.



Required documents for opening an account in Montenegro

Most banks offer simple and understandable conditions for registration of accounts for non-residents, both individuals and legal entities. Foreigner submits copies of the passport and internal passport, information about the actual place of residence and documents confirming the source of the funds (optional).


Legal entity submits to the bank:

  1. a package of constituent documents with apostille and translation into Montenegrin, not older than three months;
  2. a notarized copy of the passport, bank statement of the director / ultimate beneficiary not older than 3 months;
  3. PIB (individual tax number) and PDW (tax number of the company).


*** Note: Translation of documents is carried out at the bank. The cost of one page of the full text of the translation is 15 EUR (the service is not included in the total processing price).


For your information! In addition to the basic package of documentation, the bank reserves the right to request additional documents and information. Optionally, with a certain specificity of the business, the client himself may be requested:

  • a bank statement in the applicant’s country of origin;
  • confirmation of welfare (statements of movable property and real estate, assets and liabilities being owned);
  • confirmation of the real activity of the enterprise (invoices, contracts with counterparties);
  • CV (Curriculum vitae) of the beneficiary.



Types of bank accounts in Montenegro

A non-resident company has the opportunity to open an account of the following type:

  1. national (local) with internet banking, TAN Number System;
  2. international with IBAN, SWIFT code, Internet banking, TAN Number System.


At the same time, the following business accounts are available: settlement, card, investment, savings, escrow, and so on.


For your information! Individual person – non-resident at his discretion can open a personal settlement, card, operational, investment account.



The main advantages of opening personal accounts in Montenegro

By placing your money in a bank account in Montenegro, a foreigner receives the following benefits:

  • state insurance of deposits up to 50 thousand euros;
  • affordable service and convenient international transfers in different currencies;
  • payments via SWIFT system;
  • debit payment card ;
  • conversion operations (FX).


After going through a simple procedure for registering an account, without observing strict requirements, making an initial deposit and ensuring an irreducible balance, foreign clients receive modern tools for managing their finances.



Benefits of opening corporate accounts

At least one account in a bank in Montenegro is a prerequisite for a company with registration in this country. At the same time, such a company will be able to conveniently conduct business with counterparties in the eurozone (due to the fact that the official currency of Montenegro is the euro). The bank will not have to pay a commission for conversion or maintenance of a “currency” account.


In addition, by opening an account in Montenegro, a legal entity will be able to receive the following benefits:

  • making profitable foreign exchange transactions (Forward, SWAP, SPOT);
  • possibility of issuing corporate cards;
  • provision of bank guarantees;
  • online banking in English with mobile apps;
  • ordering investment services;
  • available overseas payment transactions;
  • a wide range of modern banking products.



Cost of the service of opening an account in Montenegro

The cost of our services is formed depending on the choice of the bank, as well as on the method of opening an account – with a personal visit or by power of attorney through a representative. Our law firm cooperates with all reputable banks in the country. Among them are Erste Bank, NLB Banka, Prva banka Crne Gore, Hipotekarna Banka and so on.


Important! As the best option, we now recommend Adriatic Bank to our clients.


The costs of opening an account with this banking institution will be as follows:

  • the cost of our work – 1650 EUR ;
  • bank commission for activating an account – 1500 EUR;
  • opening an account by power of attorney (without a visit) – 700 EUR extra.




Montenegro is a good choice for opening an account by a non-resident, both for personal purposes and for doing business. The country is integrated into the European space, and is already on the verge of joining the EU. Thanks to the use of the euro as the official currency, it is possible to conveniently carry out settlements with European counterparties.




Can a non-resident open a bank account?

Yes. This can be done by both an individual and a company,



What is the safest bank in Montenegro?

We are ready to answer this question on an individual basis.



What are the terms for opening an account in Montenegro?

From 4 weeks.