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Universal Capital Bank (Montenegro)

Universal Capital Bank was founded on 12 July 2007. Firstly the Bank focused on business clients, although the Bank expanded its range of services and began to provide services to individual clients more frequently in 2012.

Universal Capital Bank has received permission for brokerage, dealer and depository operations that fully satisfy the investment needs of customers. In April 2016, the bank opened a branch in Dubai (UAE), becoming the first local bank in the region that was able to carry out such geographical expansion, seeking to further promote Montenegro as a preferred investment destination.

OPEN AN ACCOUNT IN UNIVERSAL CAPITAL BANK

The cost of opening of the account (bank tariff)

The cost of opening an account for legal entities and individuals - 1000 EUR (this amount must be paid after receiving a positive response about opening an account from the bank. It is important that the payment is credited before the original documents and forms are received by the bank).

 

A minimum balance - not provided, but an amount sufficient to cover bank fees should remain on the account.

 

The Bank does not open accounts for companies registered in classic offshore jurisdictions.

It is possible to open an account with a bank for a company registered in Hong Kong.

Representative offices 

UAE: Dubai.

Management of the account

Using Internet-banking.

Bank’s tariffs

Transfers:

- up to 1000 EUR - 10 EUR + 0,30% (min 10 EUR);

- from 1000 EUR to 5000 EUR - 20 EUR + 0,30% (min 10 EUR);

- from 5,000 EUR to 20 000 EUR – 0,35% (min 20 EUR) + 0,30% (min 10 EUR);

- from 20 000 EUR to 100 000 EUR – 0,25% (min 70 EUR) + 0,30% (min 10 EUR);

- over 100 000 EUR – 0,20% (min 250 EUR) + 0,30% (min 10 EUR).

More detailed information on bank rates can be found here.

Terms of opening the 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 about 10 business days from the date of submission of documents to the bank office.

Universal Capital Bank follows the «know your client» principle and therefore you may be requested to provide any additional information or documents concerning the procedure of opening the account that may take additional time, as well as refusing of account opening without reasons explanation.

Staff

English speaking.

Credit/debit cards

Visa, MasterCard.

Other bank’s products

Deposits, settlement operations, acquiring, documentary operations, safes, lending, investment.

Documents for opening an account

Forms for signing are provided at the office of our company.

Documents for the company:

- originals of all statutory documents;

- the original stitching of copies of the company's charter documents under the apostille no older than 3 months from the date of the apostille (the bank retains this stitching);

- power of attorney under the apostille is not older than 3 months from the date of the apostille.

If more than 1 year has passed since the date of registration of the company, you must also provide:

- Certificate of Good Standing under the apostille not older than 3 months from the date of the apostille;

- Certificate of Incumbency under the apostille is not older than 3 months from the date of the apostille.

Documents for the account holder (company attorney) and the beneficiary:

- original of national passport with a residence permit;

- the original utility payments not older than 3 months;

- original of foreign passport;

- CV-resume in English;

- certificate from the bank in English.

The following documents related to nominee director/shareholder/secretary have to be provided (is the company uses nominee service):

In case if the nominees are individual persons:

- a notary certified copy of passport under apostille not older than 3 months from the date of apostille;

- a notary certified copy of utility bill under apostille not older than 3 months from the date of apostille.

In case if the nominees are legal entities:

- original set of documents of copies statutory documents under apostille not older than 3 months from the date of apostille;

- Certificate of Good Standing under apostille not older than 3 months from the date of apostille (in case if at the time of opening the account, the company is more than 1 year);

- Certificate of Incumbency under apostille not older than 3 months from the date of apostille (in case if at the time of opening the account, the company is more than 1 year);

- a notarized and apostilled copy of the passport of the director / shareholder no older than 3 months from the date of the apostille;

- a notary certified copy of utility bill under apostille not older than 3 months from the date of apostille.

In the process of consideration, the bank may request additional documents.

The procedure of opening an account

It is necessary to visit our office to fill in a questionnaire, and for preliminary verification of documents related to the company, attorney (account manager) and the beneficiary.

It is possible to open an account, either remotely or with a personal visit of the beneficiary and the company's attorney to the bank office in Podgorica (Montenegro).

Bank site

For further consultation concerning the terms of account opening in Universal Capital Bank (Montenegro) please contact our office. We will respond to any questions you may have and will help you open an account in Montenegrin Universal Capital Bank or any other bank out of 60 foreign banks you may choose from.

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