jurisdiction

Montenegro

1. Is notarisation required and are fees payable?

Yes, for the share pledge and the mortgage.

2. Do the following securities / deeds require to be registered in the Local Property Register and what fees are payable? 

2.1 Shares Pledge

No. However, it has to be registered with the Pledge Registry held with the Commercial Court in Podgorica (Pledge Registry). Furthermore, the share pledge agreement shall be notarised by the competent notary public.

2.2 Bank Accounts Pledge

No. However, it has to be registered with the Pledge Registry.

2.3 Receivables Pledge / Insurance Pledge (amounts collectable from policies) 

No. However, it has to be registered with the Pledge Registry.

2.4 Movable Pledges 

No. However, it has to be registered with the Pledge Registry.

2.5 Mortgage 

Yes. The mortgage shall be registered with the Montenegrin Real Estate Cadaster. Furthermore, the mortgage must be in the form of a notarial deed.

2.6 Fiduciary transfer of ownership 

Yes. Fiduciary transfer of ownership on immovable assets or shares shall be registered with the Montenegrin Real Estate Cadaster. Furthermore, the mortgage must be in the form of a notarial deed.

2.7 Guarantee 

No.

3. Do the following securities / deeds require to be registered at the local Registrar of Companies and what fees are payable? 

3.1 Shares Pledge 

Yes. It must be registered with the Pledge Registry.

3.2 Bank Accounts Pledge 

Yes. It must be registered with the Pledge Registry.

3.3 Receivables Pledge / Insurance Pledge (only receivables to be collected under insurance policies) 

Yes. It must be registered with the Pledge Registry.

3.4 Movable Pledges 

Yes. It must be registered with the Pledge Registry.

3.5 Guarantee 

No.

Please note that while the information on this page was current and accurate as at 20/9/16, it may no longer be current or accurate and so you must speak to your local CMS Banking contact if you require confirmation of any of the costs or fee levels as at today’s date!