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Adriatic Bank (Montenegro)

Adriatic Bank AD Podgorica is a commercial Montenegrin bank established in 2016. Until 2020, the bank was called Nova Banka. After the change of ownership and rebranding, the name Adriatic Bank appeared. The head office is located in Pidgorica.

The service is aimed at both legal entities and individuals from all over the world. Customers are offered universal banking services such as international banking and transfers, savings programs, loans and current accounts.
Adriatic participates in the deposit guarantee system and is a member of the Deposit Protection Fund (DFD). Deposits of all clients, including foreign clients, up to  50 000 EUR are protected.

OPEN AN ACCOUNT IN ADRIATIC BANK

Types of accounts

Personal, corporate; current, savings.

You can open a bank account for a company registered in Hong Kong, Singapore, UAE, EEA, Canada, Britain, Ukraine. Account opening for LLP is permitted.

Bank account is possible in EUR, CHF, GBP, CAD.

Cost of opening an account (bank rate)

Opening an account:
- for legal entities from zone A (EU, USA, Canada) – 1 500 EUR;
- for legal entities from zone B (countries outside the EU) – 3 500 EUR.

Closing the account – 100 EUR.

Minimum contribution is not applicable.

Representations

There is none.

Account management

Using Internet banking.
Activation of banking – 6 EUR.
The monthly fee is 4 EUR.

Service rates

Account service for legal entities – 35 EUR/month.

Output enumerations:
- up to 2,500 EUR – 20 EUR;
- from EUR 2,500 to EUR 5,000 – EUR 30;
- from EUR 5,000 to EUR 20,000 – 0.5% (min. EUR 30);
- from EUR 20,000 to EUR 100,000 – 0.5%.
- over 100,000 EUR – 0.5%.

Incoming transfers - 0.1%.
 
You can read more about the bank's tariffs at the link.

Terms of opening an account

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

The preliminary stage includes the process of collecting and filing your documents, which are required for opening an account. The terms of preliminary stage depends wholly on you

The process of reviewing documents by the bank and making a decision on opening an account takes 10 to 20 business days from the date of submitting documents and forms to the head office of the bank.

Adriatic Bank  follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Staff

English speaking.

Credit/debit cards

Visa.

Other banking products

Deposits, settlement operations, lending, investment, mortgage.

Documents for opening an account

Forms for signing are available at the company office.

Company documents:
- originals of all statutory documents;
- the original binding of copies of the company's statutory documents under an apostille not older than 3 months from the date of the apostille (the bank keeps this binding);
- notarized power of attorney not older than 3 months.
If more than one year has passed since the date of company registration, you must also provide:
- Certificate of Good Standing under an apostille not older than 3 months from the date of the apostille;
- Certificate of Incumbency under an apostille not older than 3 months from the date of the apostille.

Documents for the account manager:
- original internal passport;
- original foreign passport;
- bank statement for the last 3 months;
- the original utility bill (for gas, electricity) not older than 3 months (to confirm the address of residence).
 
Documents for the beneficiary of the company:
- original internal passport;
- original foreign passport;
- bank statement for the last 3 months;
- the original utility bill (for gas, electricity) not older than 3 months (to confirm the address of residence);
- the bank may also request documents confirming the source of income (wealth) of the beneficiary. These can be:
a certificate from the place of work indicating the salary and a personal account statement showing the calculation of the salary;
tax declarations;
documents confirming receipt of inheritance;
documents confirming receipt of monetary funds as a gift, as well as their availability in accounts;
documents confirming the sale of movable/immovable property;
if the beneficiary is the founder of the company - organizational documents, statements from the company's accounts, tax declarations, documents confirming the payment of dividends;
if the beneficiary is a private entrepreneur - extract from the register, tax declarations for the entrepreneur, extract from bank accounts;
certificate from the bank about the availability of a deposit, as well as documents confirming the source of receipt of these funds;
other documents reflecting sources of income.
 
Documents for the nominal manager, shareholder and secretary (when the company uses the nominal service):
- stapling of documents under an apostille, including copies: passports, utility bill receipts no more than 3 months old and power of attorney (if the nominal manager, shareholder and secretary is a natural person);

- stapling of the company's statutory documents under an apostille, including: Certificate of Incorporation, Articles of Incorporation and Memorandum of Association, Protocol on the appointment of a director (if the director is a legal entity). You may also need a Certificate of Good Standing under an apostille, a Certificate of Incumbency under an apostille and documents for the director: a binding of documents under an apostille, including a copy of the passport, a utility bill receipt not older than 3 months and a power of attorney.

 

During the review process, the bank may request additional documents!

All documents must be translated by a certified translator in Montenegro.

Procedure for opening an account

It is necessary to visit our office to fill out a survey questionnaire, bank forms, as well as preliminary verification of documents for the company, the attorney (account manager) and the beneficiary.

The account can be opened both remotely and with a personal visit of the beneficiary and the authorized company to the bank's office in Podgorica.

Bank website

For more detailed advice on the conditions for opening accounts at Adriatic Bank (Montenegro), contact our office. We will answer all your questions and help you open an account in Montenegrin Adriatic Bank or one of more than 70 foreign banks to choose from.

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