Telephone Numbers
Telephone Numbers
Cryptocurrency in Montenegro - Setting Up a Cryptocurrency Company
For detailed information +90 542 381 3868 'Call.
Additionally, if you want to open a branch in this country, you can rely on the services of our incorporation specialists. They will provide you with comprehensive guidance on the branch's obligations and regulations in Montenegro.
The cryptocurrency in Montenegro industry does not have clear regulation. However, even if a license for cryptocurrencies is not issued, the standards that have come into force in the country and in Europe must be adhered to by exchanges and brokers. As Montenegro prepares for its upcoming EU membership, it has updated its financial legislation to include EU regulations.
Therefore, to open a cryptocurrency company in Montenegro, you need to:
Considering all these points, you can open a cryptocurrency company in Montenegro, or our local agents can provide you with practical guidance throughout the incorporation process. Additionally, online company formation in Montenegro is also available. All you need to do is select any company type and interact with our agents.
To obtain a crypto license in Montenegro, the nature of the assets must be thoroughly analyzed. Additionally, a set of precise legal requirements that the company, as a potential license recipient, must comply with should be defined. There are no special legal provisions in this jurisdiction that regulate a separate license requirement for dealing with such assets. Below is an analysis by our experts regarding the type and characteristics of cryptocurrencies used in transactions:
These are all the steps required to register a crypto license in Montenegro. This form of virtual currency is not yet fully regulated, so you may encounter difficulties when registering a crypto license. It is advisable to get services from our company formation consultants in Montenegro. They can provide comprehensive assistance to help you open a cryptocurrency company in Montenegro and also obtain a relevant license.
In addition to obtaining a crypto license in Montenegro, you can also contact our company formation specialists if you want to open a shelf company. Besides setting up a shelf company, it is recommended that you purchase a ready-made shelf company. This smart approach can save you a lot of time and hassle.
Regarding the unique taxation structure of crypto assets, the local tax authorities have not provided any justification. Furthermore, the law does not provide any specific guidelines for the taxation of gains from businesses using crypto assets, including capital gains. The number of transactions involving this asset class must be stated in one of the fiat currencies, such as the Euro. However, if you are willing to open a cryptocurrency company in Montenegro after establishing residency here, you can contact our experts. They will inform you about updates as soon as the Montenegrin government passes potential regulations. This assistance will help you comply with taxation rules well and effectively.
If you want to immigrate and benefit from Montenegro citizenship by investment, our agents can also provide you with investment details in addition to this information. Montenegro comes with the advantage of free movement to places like Europe's Schengen Area, Russia, and Turkey. The approval of a Montenegro citizenship by investment application takes 8-10 months after submission.
Cryptocurrencies are not currently covered by Montenegro's anti-money laundering and money transfer regulations. Although the current Law on the Prevention of Money Laundering and Terrorist Financing does not directly address cryptocurrencies, a broader interpretation could lead to the conclusion that cryptocurrencies fall under the definition of "assets" and, consequently, should be subject to this law.
However, in 2018, the government introduced the Amendments to the Law on the Prevention of Money Laundering and Terrorist Financing, which, among other things, would require all legal and natural persons to disclose cryptocurrency transactions exceeding a value of €15,000. But these amendments have not yet been adopted.
However, Montenegro has advanced financial regulations and incorporates the guidelines of EU directives. Therefore, the implementation of AML (anti-money laundering) legislation should be addressed by cryptocurrency platforms (this is a Pan-European requirement for cryptocurrency exchange license holders). A Montenegrin crypto company must have anti-money laundering and counter-terrorist financing policies, internal control rules, technical tools for monitoring suspicious transactions, etc.
If you have other questions about how Montenegrin crypto companies comply with anti-money laundering legislation, consult our agents. They will not only help you set up a cryptocurrency company in Montenegro but also help you understand the relevant rules and regulations.
Businesses in the cryptocurrency space are not just built on creating new coins or mining existing ones. Investors have various opportunities for startup concepts that will connect with an existing or new bitcoin or blockchain company. This is a framework of complex tasks and related services, for example:
If you are wondering how to launch these ventures in Montenegro, you can contact our company formation specialists. They can explain it to you in detail.
Also, if you want to open a branch in Montenegro, you can count on the help of our incorporation specialists. They will give you detailed instructions on the rules and requirements for a branch in Montenegro.
In addition to helping you with the registration and legalization of businesses related to virtual financial products and non-fiat currencies, the Fintech sector, our company formation representatives in Montenegro can complete the necessary documents for cryptocurrency exchange licenses.
Our experts will select the jurisdiction for you, create an action plan, a company, and a tax plan, and provide assistance with technical and organizational challenges. Their services are at your disposal, and you can also receive customized services related to the establishment of a cryptocurrency company in Montenegro.
Please find below the services of our experts related to cryptocurrency company formation, they will:
– Create a documented basis to meet AML/KYC criteria;
– Develop a package of registration documents for the selected organizational form;
– Obtain a certificate and open a bank account;
– Create a business strategy that will meet Montenegrin standards.
You can also get additional legal protection from our company registration experts for activities related to cryptocurrency in Montenegro. With the help of our agents, you can start working in a promising field legally and without wasting time and effort.
If you are planning to open a cryptocurrency company in Montenegro, you can contact our experts. However, you can also find the general crypto regulation ranking in this country below;
If you are interested in obtaining a crypto license in Montenegro, contact our company formation specialists. They will assist you in every way possible.
Also, if you cannot afford a commercial office in Montenegro, you can get a virtual office instead. Our experts can provide you with detailed information about available virtual office packages and help you choose the appropriate package based on your business needs.
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In Montenegro, cryptocurrency is not regulated as a recognised payment method, but its use is not explicitly prohibited. Therefore, if you are planning to establish a cryptocurrency company in Montenegro, you can contact our company formation representatives.
+90 542 381 3868
+971 58 5204103