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Registering a company in Montenegro in 2020
The advantages of this jurisdiction are:
- Stable economy;
- An active attracting of foreign investment;
- Loyal policy towards non-resident companies;
- No currency control;
- Ability to establish a business and open an account remotely;
- Fast registration process.
Business registration – from €1,600
Company registration period – from 7 daysDetailed information
Montenegro is a small rapidly developing state located in the Southeast Europe. Montenegro borders with Croatia, Albania, Serbia, Kosovo, Bosnia and Herzegovina. The country gained independence in 2006.
The well-developed economic sectors are: tourism business, restaurant and hotel industry and the service sector.
According to IQ Decision lawyers, registering a company in Montenegro is quite simple. The attitude of the authorities towards non-resident Montenegro companies is very loyal. Provided that all the conditions are fulfilled (a passport, a certificate of criminal record) our experts will be able to establish a Montenegrin company in a period of 7-10 days. We will also help you to open a bank account in Montenegro.
There is a special law adopted to attract foreign investment. It helps to make such a process as setting up a company in Montenegro fast and simple. By the way, the landowners in Montenegro can be foreign citizens, but only if they are legal entities.
For more information, we recommend that you request for an individual advice on registering a business in Montenegro from IQ Decision lawyers.
According to IQ Decision specialists, setting up an IT company in Montenegro is also quite popular today. It is worth noting that working conditions for foreign investors are absolutely no different from conditions for local entrepreneurs.
There is no exchange control and the country has no DTA agreements. Hence, your anonymity is another advantage of this jurisdiction.
Those, who are intended to register a company in Montenegro and open a corporate bank account in Montenegro, need to fulfill the following conditions:
- The initial amount in your account must be at least 1 euro. But if you want to open a joint stock company in Montenegro, then you will need to have 25 000 euros on your bank account. You will also need to solve the issue with the uniqueness of the company name, legal address and nominee/executive director;
- There are registration fees for new companies: 10 euros for an LLC, 50 euros for an JSC;
- If you want to register your own business in Montenegro, you should know that your company will be required to submit annual financial statements, even if you make no profit;
- Taxes: VAT (if you make a profit in Montenegro) is 17% (this is despite the fact that you have not to pay VAT with up to 18 000 euros of annual income), corporate tax (for legal entities) is 9%, personal income tax (for individuals) is also 9%;
- On average, you will need to spend from 150 to 220 euros per month for the maintenance of your legal entity. For the services of an accountant you will need to pay from 300 euros;
- It is advantageous to register an LLC in Montenegro (DOO).
To find our more, please ask for an appointment with IQ Decision lawyers.
If you are planning to open a company in Montenegro, than you should apply to the Central Register. You can make a personal visit or just send a trustee. Also you have an opportunity to register a company in Montenegro remotely and to open a Montenegro company bank account remotely.
In order to receive a personal qualified advisor on company registration process, please call our office using the contacts listed on the site.
The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.