Montenegro

Overview

Montenegro, at just 14,000 sq.km, is one of Europe’s smallest nations. With a coast on the Adriatic Sea, the country was part of Yugoslavia from 1918 until 2006, when it declared independence.

It is one of the most politically stable countries in the region and is ideally situated in the heart of the Mediterranean, being both a candidate member of the EU as well as a gateway to Europe.

The Montenegrin government actively encourages the development of foreign investment and businesses, including gambling and i-gaming business. It remains committed to delivering a stable government and strong regulatory environment, supported by a wide range of attractive business benefits.

Montenegro is a young country which began to introduce EU standards soon after it gained independence. In October 2011, the Montenegrin government announced that it had legalised online gambling and the approval and issuing of licences for online gambling, as well as financial services and hosting, would begin in January 2012.

The Montenegrin government adapted European legislation specifically designed to fit gambling and i-gaming firms and fully protect customers. Following further changes, the licensing and regulatory controls are now more responsive to the needs of the gambling and i-gaming industries. The government of Montenegro and the private sector have worked hard to ensure that the country has a well-developed infrastructure and full range of support services in place for the gambling industry.

Podgorica (pictured) is the capital and Montenegro’s largest city while the population of the country reflects the nation’s borders and intertwined history with neighbours Serbia, Bosnia and Herzegovina, Albania and Croatia.

Montenegro has harmonised laws and a free-trade agreement with the EU, Russia and post-Yugoslavian countries.

Licences

Companies wishing to acquire a gambling license must be registered in Montenegro.

There is practically no minimum capital requirement to form a limited liability company, i.e. just €1 (one euro) nominal capital.

Companies such as E-Gambling Montenegro have been created with the aim of establishing easier and faster infrastructure for internet gambling enterprises with minimal bureaucracy.

Services

Only those companies registered in Montenegro can operate and provide services in the country and annual financial reports and tax returns must be submitted to the local authorities by a Montenegrin bookkeeping agency.

Online games which can be operated include casino games, betting, poker and other card games. Live casino is also permitted for roulette, poker and other casino and card games.

Companies such as E-Gambling Montenegro offer a one-stop service which enables new i-gaming businesses set up in the country.

Tax

The benefits of locating in Montenegro include a nine per cent corporate and personal tax rate.

Montenegro has double taxation agreements with 36 countries: Albania, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hungary, Iran, Italy, South Korea, Kuwait, Latvia, Macedonia, Malaysia, Moldova, the Netherlands, Norway, Poland, Romania, Russia, Slovakia, Slovenia, Sri Lanka, Sweden, Turkey, Ukraine and the UK.

To form a limited liability company there is a minimum capital requirement of €10 (ten euros).

Contact

E-Gambling Montenegro

Tel: +382 20242835

Fax: +382 20224450

Email: [email protected]

Website: e-gambling.me

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