Open a bank account in Montenegro for non-residents

Open a bank account in Montenegro for non-residents

Opening a bank account in Montenegro for non-residents is beneficial. First of all, local banks are not required to share customer information with other countries. It's also convenient that although Montenegro is not a member of the EU, the country's official currency is the euro. It takes only a few days to become a bank client for a natural person. The legal entity has to wait for 2-3 weeks but the process is also quite straightforward.

Where can a foreigner open an account in Montenegro

We recommend becoming a client of following banks:

  • Hipotekarna Banka which specializes in private business servicing.
  • NLB Banka which is  one of the most popular banks among foreigners. It belongs to NLB Group, the largest Slovenian banking and financial institution.
  • CKB which offers cards without initial and monthly fees. It is the only bank in Montenegro issuing American Express BLUE and GOLD cards.

How an individual can become a client of the bank in Montenegro

A non-resident can easily register with almost any bank in Montenegro. It's possible to open:

  • National bank account in euros.
  • International bank account in euros. If it is necessary you can also open an account in dollars or pounds sterling. Such applications should be submitted separately, and paying a fee for opening a bank account is necessary.

The Visa Electron credit card issued in Montenegro can be used in any country in the world where Visa cards are accepted.


The procedure for bank account opening is the same everywhere in Montenegro. It is necessary you can also open an account in dollars or pounds sterling. Such applications should be submitted separately, and paying a fee to go to the bank and provide the following documents:

  • Proof of identity (passport).
  • Proof of employment or business activity in Montenegro.
  • Residence permit in Montenegro or any EU country.
  • The contract of renting an apartment or a certificate confirming the purchase of the property. Alternatively, it can be a statement confirming residency if you are a local resident.
  • Banks reserve the right to request additional papers. There is usually no monthly maintenance fee in Montenegro. But of course, carefully review the banks' offerings to find what suits you best. To activate e-banking, you may need to make a special request. When withdrawing money from ATMs, the fee is usually €3.

How a legal person can become a client of the bank in Montenegro

When opening an account for offshore companies, it is important to know that Montenegro banks are quite cautious when it comes to operations with foreign banks. Therefore, they may refuse to conduct transactions if the company is registered in a country that is on the EU blacklist or under sanctions. In any case, the offshore activities of your company will be carefully checked, which is important to know for the potential investor.

To avoid problems, it is better to first register a company in Montenegro. You can do it by contacting the Registration Bureau of Companies in Podgorica.

What accounts can a company open

A company from Montenegro can open the following accounts:

  • National, which also includes internet banking and the TAN number system. The owner receives a debit card for domestic payments (Master card or Visa).
  • International. The owner receives the account number, SWIFT code, IBAN and VISA international card.


To become a bank client in Montenegro, a company must provide the following:

  • Passports of the owners, shareholders, and company's legal representative.
  • Corporate documents of the company.
  • Proof of solvency of the owner.
  • Signatures of persons authorized to place funds.
  • Agreement on opening and maintenance of the current and foreign currency account of the foreign legal entity.
  • Details of the persons who will collect statements and issue enforcement writs at the bank.
  • Extract from the registry of the foreign legal entity issued by the competent authority of the country where the company is registered. It should be no older than three months and must be translated by a certified translator.

The bank is entitled to request other documents if necessary. To quickly open an account for a non-resident in Montenegro 2022, contact IT-OFFSHORE experts.

To improve your experience on our website, we would like to use cookies. This means that we collect some information about your activity while you are on the website.