MONTENEGRO Law and Practice Contributed by: Luka Popović and Milana Savović, BDK Advokati
negrin citizen, they must submit a certificate from their country of citizenship, and a certificate from any country where they have resided in the past two years); • a certificate issued by the authority responsible for maintaining criminal records, evidencing that no criminal proceedings are being conducted against the founder and the beneficial owner of the com- pany, nor has a final and binding conviction been pronounced in connection with the performance of professional activities; • if the founder or member of the company is a foreign legal or natural person, a certificate, con- firmation, or other act issued by the administra- tive authority competent for the collection of tax revenues, or the competent authority of the country in which the founder and member of the company have their registered office or residence, which must not be older than 30 days as of the date of submission of the application; • proof of the minimum share capital requirement of EUR200,000; • a three-year business plan; • balance sheet and income statement for the previ- ous two years (depending on the date of estab- lishment or commencement of activity), or audit reports of the financial statements of the founder or member of the company (if they are subject to audit), for the previous two years prepared by an authorised auditor, in accordance with the regula- tions of the country of origin of the member or founder; • contract regarding the ownership right or the right of lease of the premises in which the operator intends to conduct casino games; • a report on the distance from educational institu- tions prepared and certified by a licensed geodetic organisation; • proof of payment of the administrative fee; • game rules for each game that will be organised; • data on the type and number of gaming machines and gaming aids, with detailed information for their identification if such are used in the premises for which the licence is being requested; • list of locations for organising slot machine games; • proof of payment of a one-time fee in the amount of EUR3,000 per gaming machine club; and
• an unconditional guarantee of a credit institu- tion with a registered office in Montenegro of EUR35,000 and EUR3,000 for each gaming machine club (as security for the payment of duties and winnings). Online gambling licences The main requirement for obtaining a licence for online gaming is that the operator already holds a licence for land-based special games of chance. An application for an online gambling licence must be submitted to the Games of Chance Administration along with the following documents/information: • name, tax identification number and seat of the company; • a three-year business plan; and • a list and rules of the games that will be organised. 4.7 Application Timing The administrative decision-making process must be completed within a general deadline of 60 days from submission of the application. Prospective applicants also have to take into account that the preparation of the application may take some time, as they have to engage a licensed company to inspect the premises and confirm that the relevant technical requirements are satisfied. 4.8 Application Fees The Games of Chance Act does not provide for any specific application fees; thus, the applications for licences are subject only to an administrative fee of EUR2, applicable to administrative procedures in gen- eral. The awarded casino operator is obliged to pay a one- off fee of EUR2 million. There is no similar award fee for other types of licences for games of chance. 4.9 Ongoing Annual Fees The regime of ongoing fees for operators is a combi- nation of fixed and variable fees, payable monthly or annually. The fees are different for each licence type, as follows. • Casino games – there is an annual fixed fee of EUR100,000, and a monthly variable fee of 15% of
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