When you set up an international company and intend to work with customers from all over the world, you need a corporate account that will match your needs. First of all, you need to choose the jurisdiction: you can open an account in the country of residence, in the place of company registration, or in a third country. Which option is the best? Well, the choice largely depends on your priorities, business needs, and desire to diversify risks, so we cannot give one answer to that question.
In this post, we are going to look at Montenegro, a promising country that is expected to join the EU soon. It offers excellent banking services and has the euro as a major currency. If the opportunity seems interesting to you, please visit our portal for detailed information on how to open a corporate account in Montenegro.
We have experienced specialists who will help you overcome all the administrative barriers. What is more, if you decide that you need a different option than Montenegro, we provide free consultations where we help entrepreneurs choose the best destination to open a bank account on a case-by-case basis. Do not miss a chance to contact our experts and ask questions!
A Few Words About Montenegro
Montenegro is a stable country whose economic growth is going at a steady pace, and it is scheduled to join the EU in 2025. Opening a corporate account here will help you find good business partners, access other markets, try new economic products, and take advantage of currency exchange operations (Swap, Forward, SPOT). We have a special offer for non-resident companies: a reputable banking institution in Montenegro that will provide you with interesting payment solutions for different countries (we will refer to it as the Bank).
Non-Resident Accounts in the Bank: Benefits
The Bank welcomes resident and non-resident companies of all legal forms and of any size, so they have experience in dealing with different cases. The rates they apply are transparent and customer-specific.
Restrictions Imposed by the Bank
The Bank does not work with absolutely all customers, though. In 2018, it made changes in its policy and decided to serve onshore companies only. Today, you will need to fulfill the following conditions to be eligible:
The place of incorporation is an important parameter as the Bank may refuse to open a corporate account for companies registered in certain jurisdictions. Follow the above link to see a full list of restricted countries on our portal and ask our specialists for updates.
There are also limitations on the type of the company’s activity. You may face difficulties opening a corporate account if your company:
Needless to say, you will have to prove that your company’s activities are lawful and transparent. Any signs of fake information or documents being submitted to the Bank will result in immediate termination of cooperation.
Bank Services: Details
The Bank gives an opportunity to open all major types of corporate accounts (investment, settlement, savings, escrow, debit card, and currency-specific ones).
The institution works with all the major global currencies, but we recommend opening several multicurrency accounts to save on exchange rates.
You can get Mastercard debit cards for business here for payment and withdrawal in US dollars or euros. No payment or withdrawal limits are set. Click on the above link to see the tariffs offered by the Bank.
The bank offers different service fees to companies registered in particular jurisdictions by dividing all the places of incorporation into Group A and Group B. See a full list on our portal.
Corporate Account: How to Apply
A standard procedure will mean that you collect all the documents and fill out all the required forms and visit the bank in person to apply (or you need to have a foreign branch of your company in the country).
However, the specialists of our portal can help you with account opening online. We will also thoroughly check your documents and give you recommendations on filling out the forms to guarantee your approval.
Make 6 steps:
Opening a corporate account without professional assistance may be challenging – in the same way as driving a car in an absolutely new location. However, our experts are here to show you all the stumbling stones and make the process as hassle-free as possible.
Do not miss an opportunity to make your company payments easy and convenient. Contact us today!