At one point in time, Montenegro lead the way when it came to issuing licenses for online casinos, however, this is something that has changed over the ensuing years.
As mentioned, Montenegro legalized online casinos in 2011 and began issuing licenses for them in 2012. This was far ahead of most other European countries. At the time the country also had an extremely favorable corporate tax rate of 9% and a very small online gambling tax. A combination of these factors made the country an extremely attractive proposition for online casinos, hence why, in the early 2010s, Montenegro was a hub for online gambling sites.
This fervor to set up online casinos in Montenegro began to wane in the mid-2010s when the industry suffered a series of scandals centered around organized crime and money laundering. In the years that followed the majority of online casino companies left the country.
Currently, there are very few online casinos licensed by the Montenegrin Games of Chance Administration alone. The majority of online casinos available to players are larger international companies with various online gambling licenses, with none operating specifically from Montenegro.
Online casino licenses can only be issued to an operator who already holds a license for a land-based casino in the country.
To gain such a license there are a number of criteria that must also be fulfilled, the main point of which is that the operator must establish a limited liability company or joint-stock company that is based in Montenegro. There are also additional requirements around the minimum share capital, proof of funds, and criminal record checks that will also need to be met.
Alongside the application, a series of other documents need to be submitted by applicants, these include the name and seat of the company, proof of registration of the company, a three-year business plan, and a memorandum of association.
A positive of applying to open an online casino in Montenegro is that the process doesn't attract a specific application fee, instead, there is a €2 administration fee. The application will then be considered by the Montenegro Games of Chance Administration, which usually takes 60 to 90 days.
If a license is granted for an online casino there is then a monthly fixed fee payable of €10,000. The license itself does not distinguish between particular online games and instead allows the operator to organize any online casino games.