Set Up a Financial Company in Montenegro

Set Up a Financial Company in Montenegro

Updated on Monday 27th February 2023

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Set-Up-a-Financial-Company-in-MontenegroForeign entrepreneurs and companies interested in operating in Montenegro have various industries they can set up operations in. Among these, the financial industry has become quite appealing in the last few years, as it has evolved quite a lot.

One of the advantages of setting up a financial company in Montenegro is that such a business can complete one or more activities, based on the licenses it obtains upon registration.

Below, we invite you to read about the main requirements for opening a Montenegro financial company. You can rely on our law firm in Montenegro for complete assistance in setting up such a business in this country.

What are the main laws governing the financial industry in Montenegro?

There are various laws which must be respected upon the creation of a financial company in Montenegro. However, such a business will fall under the law which regulates the activities it completes.

The following laws regulate the financial sector in Montenegro:

  1. the Banking Law and the Central Bank of Montenegro Law which refer to the creation of banking institutions in this country;
  2. the Payment System Law which provides for the opening of financial companies offering payment services;
  3. the Consumer Credit Law which covers all the aspects related to offering loans and credits to customers of financial companies;
  4. the Law on Insurance which provides for the activities of insurance and reinsurance companies in Montenegro;
  5. the Law on Financial Leasing, Factoring, Purchase of Receivables, Micro-Lending and Credit-Guarantee Operations which covers several activities completed by financial businesses.


The registration of a financial company in Montenegro is supervised by the Central Bank which is also issues most of the operating licenses for such businesses.

Our lawyers in Montenegro can offer more information on the legislation governing financial institutions in this country.

How to register a financial business in Montenegro

The creation of a financial company in Montenegro will need to comply with the provisions of the Company Law in respect to the incorporation with the Trade Register. It is worth noting that in order to open a company in the financial sector a joint stock company must be registered when it comes to setting up banking institutions. The same business form must be used upon the registration of a company for offering insurance and reinsurance activities.

Foreign financial companies can operate in Montenegro through the registration of branch offices, as the registration requirements are easier to comply with.

The registration of a financial company can be quite complex, which is why the experience of a Montenegro law firm is essential in order for it to completed in a proper manner. Our lawyers will assist you in detail in setting up a financial company in Montenegro. Furthermore, if you are planning to relocate and get a Montenegrin residency permit, the services of our immigration lawyers are at your disposal. It is not enough to establish a company in Montenegro, according to Montenegrin law. Most people who want to go this route establish their own company and then hire themselves as executive director to qualify for temporary residency.

Special requirements for opening a financial company in Montenegro

It is good to know that both local and foreign investors can establish financial companies in Montenegro under the same circumstances. However, they must also respect the same conditions related to undertaking such activities.

Among the special requirements which must be observed when establishing a business in the financial sector in Montenegro are:

  • - the minimum share capital for opening a banking institution in Montenegro is 5 million;
  • - a business plan for 3 years must be submitted when applying for a banking license in Montenegro;
  • - for insurance companies selling life-insurance products, the minimum share capital is 800,000 euros;
  • - for insurance companies selling accident and voluntary health insurance products, the minimum share capital is 500,000 euros;
  • - for companies selling compulsory traffic insurance products, the minimum share capital is 1,250,000 euros;
  • - for companies selling property insurance and motor vehicle insurance products, the minimum amount of money required is 1 million euros;
  • - for companies selling life and non-life insurance products, the minimum share capital is 2,250 million euros;
  • - for companies undertaking reinsurance activities, the minimum share capital is 2 million euros;
  • - insurance companies must also bear the abbreviation AD appended to their trade names.


The banking license is issued by the Montenegro Central Bank. Our lawyers in Montenegro can offer more information on the requirements related to starting a financial company here.

Our law firm in Montenegro can help foreign investors who want to set up businesses in the financial sector with the drafting of the documents which need to be filed for registration and licensing with the local authorities.

For complete information and assistance in setting up a financial company in Montenegro, please contact our lawyers.