Name
Global FinTech Guide
Country Name
Montenegro
SectionTitle
Crowdfunding / crowdinvesting / crowdlending
Body
FinTechs belonging to this category operate crowdfunding, crowdinvesting and crowdlending platforms on which money is raised to invest in various projects, mainly start-up companies and real estate projects.

Crowdfunding is not a defined financial service, but generally used to describe donation-based crowdfunding (the investor donates the money to the project), reward-based crowdfunding (the investor receives an often symbolic consideration for his investment), equity-based crowdfunding (crowdinvesting: the investor participates in the profits of the financed project or acquires shares or debt instruments) or lending-based crowdfunding (crowdlending: the investor is reimbursed at the end of the project with or without interest).

Introduction

Attitude of the country towards crowdfunding, crowdinvesting and crowdlending platforms

Montenegro does not have an established crowdfunding industry yet and the uptake of
crowdfunding might still take some time. The most common types of CF
initiatives that comes from Montenegro are Donation- and Reward-based. 

As stated before, there is no classical platform (UNDP platform is not classical CF platform
per se) in Montenegro. Most CF initiatives are seeking funds via most popular CF
platforms Indiegogo and Kickstarter.

Legal affairs

Obligations and requirements to provide crowdfunding, crowdinvesting and crowdlending platforms described above

N/A

Additional comments regarding the legal situation for crowdfunding, crowdinvesting and crowdlending platforms or what FinTech’s must be aware of in this business area

N/A

Economic conditions

Market size for crowdfunding, crowdinvesting and crowdlending platforms and biggest companies in this business area

Besides that, there is a donation-based online platform run by the UNDP with 3 local projects
dedicated to the protection and conservation of Montenegro`s biodiversity (Bicycle paths,
Solar benches/smart bus stops and Solar boats). All donations are managed by ?Towards
Neutral Carbon Tourism Project? implemented by UNDP and Ministry of Tourism and
Sustainable Development, the Government of Montenegro through Chamber of Economy
of Montenegro. Data on CF volume of investment in Montenegro is not available.

Additional comments regarding the economic situation for crowdfunding, crowdinvesting and crowdlending platforms or what FinTech’s must be aware of in this business area

N/A

Authors

Disclaimer

© 2022, Karanovic & Partners in cooperation with local lawyers. All rights reserved by Karanovic & Partners in cooperation with local lawyers as author and the owner of the copyright in this chapter. Karanovic & Partners in cooperation with local lawyers has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

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