Corporate banking options in 2022
- Healy Consultants Bank Account Opening Team prepares all documents to assist our Clients in the account application process and deposits these documents at the Client’s preferred bank;
- Our Client deposits the minimum paid up share capital applicable to their company formation and provides us with the bank statement and certificate of deposit, to be presented to the notary;
- Healy Consultants liaises with the bank and will try to prevent our Client from having to travel for an interview with the bank compliance authorities;
- International banks are not sufficiently present in Montenegro. Preferred banks include: AtlasBanka Podgorica, Crnogorska komercijalna banka (OTP Group) and Erste Bank Podgorica (Erste Group);
- Our experts successfully assist our Clients in accessing trade finance facilities in Montenegro. Our services include i) bank guarantees ii) letters of credit iii) finance against trust receipt and iv) document against payment and against acceptance;
- It takes up to three weeks to open a corporate bank account in Montenegro. There is no requirement for personal travel during the procedure unless specified by a particular banking institution;
- The corporate bank facilities in Montenegro are stable according to Economist Intelligence Unit. These include internet and telephone banking, multi currency services, checking accounts, savings accounts, debit and credit cards with high daily limits on cash withdrawal at ATMs worldwide, fixed term deposits and more;
- There are no foreign exchange controls in Montenegro and investors and entrepreneurs can freely repatriate their business profits abroad in their preferred international currencies.
- Montenegro is not a member of the Common Reporting Standard (CRS). As a result, local banks do not exchange information on bank signatories and directors with international tax authorities.