Opening an account with ZAPAD BANKA (Montenegro)

Zapad Banka was founded in Montenegro in 2015 as a universal bank for servicing individuals and legal entities. Zapad Bank offers an individual approach to each client. Zapad Banka has a wide network of correspondent banks, which allows the bank to work with all freely convertible currencies, including the US dollar. The bank has a representative office in Vienna (Austria).

To open an account in Montenegro, foreign companies must meet the following requirements of the bank:

• Obligatory submission of financial statements in the country of registration
• Obligatory payment of income tax in the country of registration
• Substance (the existence of an office lease agreement in the country of registration and proof of payment of rent under this agreement).

Opening an account for a private entrepreneur in a foreign bank Zapad Bank is a unique opportunity to have an account for settlements with counterparties. The procedure for opening an account in Zapad Banka (Montenegro) is individual for each client. When opening an account with Zapad Banka in Montenegro for a company with a nominee service, it is necessary to provide corporate and personal identification documents of the nominee director and shareholder (certified in accordance with the bank's requirements). Original corporate documents of a foreign company are submitted to the bank and returned to the client after opening an account with Zapad Bank. Apostille on the documents must be no older than 3 months.

Remote opening of a personal account in Zapad Bank is possible without travelling abroad. The term for opening an account with Zapad Banka from the moment the bank receives the original documents of the client is 2 weeks. There is no express account opening at Zapad Banka.

Maira Consult specialists highlight the following advantages of opening an account with Zapad Bank:

• Opening a personal account in Montenegro for your own needs
• Opening an account abroad by a legal entity
• Opening a private entrepreneur account abroad to work with foreign counterparties
• No minimum deposits
• Account for working with dollars
• Possibility to open an account for a European company
• Possibility to pay to Ukraine and Ukrainian banks

Zapad Banka adheres to the principle of ‘know your customer’ and in each case reserves the right to request additional documents, which will lead to an increase in the time of opening an account in Montenegro, and may also refuse to open an account in Montenegro without giving any reason.