The rapidly growing Balkan country of Montenegro has carved a niche for itself as one of the most stable economies of the region which has made it a preferred investment destination for investors from across the globe. A service-based economy, Montenegro boasts of strong government support for the economy. The Government has also tried to diversify into new areas such as tourism and banking to promote the country and its excellent holiday destinations boasting splendid beaches and resorts.
Montenegro has emerged as a preferred international Online gaming destination. It offers an integrated gaming license which allows for organizing multiple forms of internet games. The online gaming industry in Montenegro is regulated by the Games of Chance Administration (Gambling Authority). The E-gambling license is issued in compliance with the Decree on Promulgation of The Law On Games Of Chance, 2007 which was one of the first legislation recognizing internet gaming.
The provisions of the decree have been designed to cover almost all forms of gaming and also provide the guidelines for a Montenegro E-Gambling License in addition to online gaming. The existence of comprehensive legislation ensures that the Montenegro E-Gaming License is one of the most sought after in the world. It also has a single low corporate and personal income tax rate of 9% and tax registration is completed within two days. Also, currency conversion is not a hassle for Montenegro since it uses the Euro.
A gaming license in Montenegro
An E-gaming license from Montenegro is normally offered in the form of a certified website on the basis of permission from the Games of Chance Administration. However, most investors choose to select an integrated package to describe below which is described below.
Features of a Montenegro E-Gambling license
A Montenegro E-Gambling License is issued by the Games of Chance Administration and is generally referred to as I-Gaming License. Holders of the license can operate the following forms of games:
· Betting (e.g. Online Sports-book, binary options)
· Poker and other card games
· Live casino (roulette, poker, and other casino and card games)
· Other internet games
The only explicit exception is that it does not provide for the lottery.
The All-Inclusive Package is the preferred option for almost all license seekers as it makes the entire process hassle-free and simple by completing all necessary formalities from forming a company to payment processing. It also enables you to start your business within 3–4 months in most situations.
The integrated Package for Montenegro includes the following:
Montenegro Company Formation
We assist you in incorporating a new company for your business or in establishing a local subsidiary. This is essential to obtain the license. We undertake the process of Company registration, Company tax registration and obtaining a tax identification number. If required we can also assist you with our shareholder and delegated director services ensuring that you do not need to travel to Montenegro.
As with any major business, Montenegro requires yearly submission of accounts and we assist you for a tie-up with leading local accounting firms.
Montenegro Banking Assistance
A Montenegrin Bank account is essential for every business in the account and we assist you in opening a Montenegro Bank Account which allows for both local and Foreign exchange transactions. The Banks also provide additional facilities such as E-banking, Debit Cards, and Phone Banking.