22. 10. 2024.
Opening a bank account for a legal entity is a key step in establishing a stable business operation. To help this process easier for you, we provide an overview of the necessary steps and documentation below.
Before you begin the process of opening a business account, prepare the following documentation:
• Application for opening a bank account – Provided by the bank.
• Extract from the Central Register of Business Entities (CRPS) – Can't be older than three months.
• Decision from the CRPS
• Carton of Deposited Signatures (KDP) – Provided by the bank.
• Certification of signatures of authorized persons – Provided by the bank.
• Statement of real ownership – Provided by the bank.
• Statute and Founding Decision
• Tax ID (PIB) and VAT registration certificates
• Copies of identity cards (passports for foreign nationals) of persons authorized to sign the executive directors, and beneficial owners.
• PEL forms – Forms for persons authorized to sign the executive directors, and beneficial owners.
•Legal Entity Questionnaire – Provided by the bank.
• Permit for temporary residence and work in Montenegro (for foreigners).
2. HOW LONG DOES THE PROCESS TAKE AND HOW MUCH DOES IT COST
Fees for opening a business account vary from bank to bank, ranging between 50 and 500 euros.
After submitting the documentation, the bank reviews it and informs the client of the scheduled appointment. The bank may ask for additional documentation, such as Lease Agreements or Client Cooperation Agreements, depending on the specific activities of your company.
The process of opening a bank account takes between 10 and 30 days, depending on the bank's internal policy.
NOTE: Your company can open an account in several banks.
Opening a bank account for legal entities can be a complex process, but with proper preparation of documentation, it can be very simple.
Perfectum Agency offers support throughout the process of opening a bank account.
Schedule a free consultation today to ensure your bank account opening process is stress-free!
