Regulatory Alerts2023-01-01
Law on Foreign Current and Capital Operations
Montenegro enacted this law to regulate foreign payment operations and the transfer of property, establishing a general principle of freedom for current and capital transactions between residents and non-residents. The Central Bank of Montenegro is mandated to supervise these operations, collect balance of payments statistics, and publish daily exchange rates while enforcing reporting requirements for physical asset movements. The legislation also grants the Central Bank authority to impose short-term protective measures during financial threats and defines specific penalty provisions for non-compliance by financial institutions and residents.
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