Petro Funds is an executive level financial and management consulting firm that provides support to corporations, financial institutions and high net worth individuals A GLOBAL FINANCIAL POWER-HOUSE
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Your Own Dominican Bank
For Only US$9,500 (Full Bank License) |
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Why Republic of Montenegro?
The Republic of Montenegro forms part of The Yugoslav Federation FRY and is situated on Balkans, having the seashore on Adriatic right in the hart of Europe and Mediterranean. The capital of the Republic of Montenegro is Podgorica. The country has its own Constitution and President, as well as Government and Parliament structures. After several years of economic sanctions imposed by UN that were lifted recently, the economy needs foreign investment which was the reason of adopting special laws. If you wish to open a fully licensed bank which is authorized to carry on banking business world-wide, the most competitive and attractive jurisdiction today is the REPUBLIC OF MONTENEGRO. Offshore banks established in Montenegro can carry out international trade, provide management services, consulting services, ships and yachts administration, investment-banking and insurance services... | Far Away Jurisdiction 
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Why Republic of Montenegro?
The "Act on companies which are established and which conduct business activity on special terms" was adopted by the Assembly of the Republic of Montenegro July 26 1996 in conformity with the Article 88, point 2 of the Constitution of Montenegro. Under this Act a territory of the Republic of Montenegro is declared as a free economic and developing area is guaranteed to foreign legal and natural persons the freedom of establishing companies, the freedom of enterprise and freedom of contracting international business transactions subject to terms and methods prescribed by the Act.
The Republic of Montenegro, by the Act, ensures tax exemptions and relieves and other privileges for establishing and conducting business activity of companies or branches of foreign and domiciling, sojourning and working of foreign citizens.
Types of companies for Offshore Banking operations
According to the Article 2 of the Act one of the allowed activities is to extend financial and non-financial services. To obtain a banking license a company must be established as Joint Stock Company ("JSC") formed by at least two subscribers (as subscriber may participate physical or juridical person) and have it paid capital of US$ 10,000. All the information is kept in the Register of the Ministry of Finance of Montenegro which generally is the following for "JSC":
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Confidentiality
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The Republic of Montenegro guaranties that it will regulate by law and that it will take appropriate measures and actions to ensure that authorized officials in the Ministry of Finance, banks and other organs and organizations who perform duties of registering the company and other duties for the company will keep as officially confident the data concerning identity, documents, reports and all other data with which they become acquainted with in the course of performing activities for company or qualified in conformity with special regulation which the Government will enact.
The Advantage Of Montenegro Bank License The Ministry of Finance of Montenegro is also the regulatory body which issues the bank license. A standard bank license permits a joint stock company registered under the Act to engage in the following banking operations:
| The Bullet Proof Jurisdiction 
Your own bank;
Your own bank;
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SUCH BANKING LICENSES ARE NOT LIMITED BY TIME.
Tax Regime: The bank is obliged to file a tax declaration in due time at the end of each calendar year or to hand over to the competent tax authority other data necessary for calculating taxable profit. The bank pays the tax at the rate 2.5% on its declared profit. The tax base is further reduced with the amount of financial resources from income which is directed into investments within the territory of the Republic.
Annual Payments: An amount of US$100 is payable to the Registry for the joint stock companies on an annual basis. An annual fee of US$4,500 is payable for the Registered Agent and Registered Office in the Republic of Montenegro (payable on incorporation, then annually on the anniversary thereafter). Book-keeping and accountancy costs are not included. These extra services can be provided if required.
Correspondent Accounts: The basic package includes opening a correspondent bank account at the Bank of Montenegro. This allows the new bank to use their existing correspondent network which includes Citibank, Commerzbank, Union Bank of Switzerland, etc. for sending and receiving payments.
Formation Time: Usually to form a new bank with the client's directors and name proposed by the client takes on average 4 weeks.
Requirements to Begin Formation:
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Documents you will receive on completion:
To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability. |
Your Own Bank;
The Magnificent; Montenegro
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For example, your offshore company could quote Petro Funds London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum.
Trust Services: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include: Saving Of Inheritance Tax: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated. Asset Protection: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc. Avoidance Of Probate: A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will. Continuity: Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself. Lifetime Tax Savings: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. |
The Magic Land 
Your Offshore Bank; Your Peace Of Mind 
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Other Services:
Petro Funds provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services.
VIP Package: For one payment of US$15,900 Petro Funds will provide the following:
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Montenegro; The One And Only
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Confused?
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The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in a bank formation, registration of a company or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes.
Petro Funds Offshore Services Division has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore. |
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The program includes BEARER SHARES so that complete anonymity is guaranteed, documentation and support services so that you can open a bank under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.
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We trust that we have clarified the intriguing world of bank formation in The Republic Of Montenegro. We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.
If you would like to obtain further details of the legislation
surrounding the formation of YOUR OWN BANK in Republic Of Montenegro or wish to discuss any matter in complete confidence, please
click here to contact:
Mr. Robert Haig
Petro Funds Offshore Services Division
| Please click here to inform us the full particulars of your situation and what you wish to accomplish. We will review your situation and offer to you a custom fitted solution. 95% of the time it will be simple to understand and 100% of the time it will be the least expensive alternative. |
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| Please feel free to contact Petro Funds if you believe the formation of YOUR OWN BANK in The Republic Of Montenegro may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL. |
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 | There is only one Petro Funds Our scope, financial strength, balance, depth of talent and integrity have made us our clients' trusted global advisor. |  |
Petro Funds 
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