from 2 999 EUR

Open a Sole Proprietor Bank Account in Montenegro Remotely

Representatives of medium-sized businesses wishing to explore European markets and develop their business in Europe would be interested in the offer of opening a sole proprietor account in Montenegro. Experts of the International Wealth portal will provide full support to ensure your successful passing of the KYC and due diligence procedures. 

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Please note that the bank’s headquarters is located on Podgorica, but there are also representative offices in Vienna and Odessa.

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Benefits for Sole Proprietors with a Montenegro Bank Account

We recommend choosing a universal Montenegro bank and using its services. This bank is special, for it has a personalized approach to customers, and offers a wide range of quality products. 

The main currency of Montenegro is the euro, but the jurisdiction has not been included yet in the SEPA zone. So, direct transactions with EU countries are not available for the time being. The bank we recommend offers favorable conditions for international payments in dollars, euro, rubles and hryvnias. Benefits of currency exchange transactions are available (Forward, SWOT, SPOT), various investment services. 

Benefits of a Montenegro bank account for foreign business persons:

  • Investment and custody services;
  • escrow services;
  • money transfers and payment services;
  • conversion operations (FX-operations);
  • debit cards;
  • other financial opportunities. 

with seasoned professionals on international
banking and where it is best to open
non-resident corporate accounts.

with seasoned professionals on international banking and where it is best to open non-resident corporate accounts.

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Bank Account Opening Terms and Conditions 

In order to open a private bank account for a foreign business person in Montenegro, it is necessary to make sure that the applicant meets the bank’s requirements. One will also need to prepare all the documents. 

Customer identification procedure implies a choice of two options. One may pass it at one of the bank’s branches or by video call. No requirements are put forward regarding the initial deposit. Maintenance conditions are also very favorable for foreign business persons. 

Customer origin restrictions 

Sole proprietors whose business has a domicile or the residence address is in a country the bank is wary of working with, may encounter certain difficulties. These are a number of offshore jurisdictions that are on sanctions lists. 

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Important note: The list includes about 50 countries and territories. Please ask our experts for a complete list.

Types of accounts:

  • Current account (different currencies);
  • Investment account;
  • Card account;
  • Deposit account;
  • Escrow account. 

Payment cards 

You can get MasterCard debit payment cards issued in different currencies. A special service is available when one can set unlimited payments on their card. It is very convenient for business persons. 

If you want to have no limit on your payment card by a Montenegro bank, you will need to open a separate sub-account to which the card will be tied. That is, the limit is set not by the bank, but by the account holder. 


Service fee (EUR)Foreign sole proprietors
Account opening540
Additional account opening50
Maintenance, starting from the 7th month15
Maintenance of additional account15
Account closing0
Escrow account opening0.35%, no less than 150 EUR
Escrow account maintenance50
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Important note: the bank rates are subject to change. Please check with us for the latest information.

Investment account 

This package offers the following services:

  • Trading operations on stock exchanges on behalf of the client and for their money. The bank will buy and sell all available types of investment assets such as funds, stocks, derivatives, bonds both in the local and international markets.
  • Custody and disposal of financial instruments. The investment accounts opened in the name of the customer will carry out transactions in their favor, as well as provide safekeeping of assets. The bank will collect income from the use of financial instruments on behalf of the customer and transfer it to the customer by crediting their account. The customer will be informed of any account history in a timely manner.
  • Investment consulting. Bank employees are ready to provide consulting support in the matters of private investing. They will help you form an investment portfolio that will meet all of your preferences and priorities. 

How Do I Open a Sole Proprietor Bank Account with a European Bank?

In order to open a sole proprietor account with a Montenegro bank, you will need to prepare the documents, get them notarized and submit them to the bank. It is also a prerequisite to be interviewed, but this can be done remotely. 

Sole proprietor account opening procedure:


Please send your request to Please specify the service you are interested in.


We will issue an invoice to you.  We accept card payments, account transfers (SEPA, SWIFT), electronic money, Bitcoin, and Western Union/MoneyGram transfers.


After that, you will need to fill out the bank forms using our recommendations, prepare the documents, get them notarized, and get ready for the interview.

Account opening stages:


Pre-Approval includes the following documents:

  • Bank statements for the last 6 to 12 months;
  • Your CV;
  • General information according to the template.

After that, the bank will issue a confirmation of the possibility of opening a bank account.


It will be followed by a meeting of the future account holder with the bank representative, including an online meeting. At this stage, the banker will get familiarized with the documents certifying the customer’s identity and confirming their place of residence.


Next, the bank will assess the completeness of the information provided in the filled-out forms, as well as its quality. After that, the decision regarding your account will be made.


And finally, you will need to send the original and notarized copies to the bank

Set of documents required

  • Copies of your travel passport and national passport if any;
  • Documents confirming your address of residence;
  • Bank statements for the last 6 to 12 months;
  • Documents confirming the origin of funds;
  • Your CV with contact details;
  • Filled-out bank forms. 
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Important note: Under the laws of Montenegro, all documents must be translated into the national language of the jurisdiction. Therefore, it will be necessary to take care of getting the copies of your documents properly translated and notarized.

Should you have any questions regarding banking services in Montenegro, please feel free to contact us.

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