How to open a company in Montenegro?
You will find here all information about opening a company in Montenegro and what your responsibilities are.
We are a professional agency with around 30 employees and more than 25 years of experience. Once you establish a Montenegro company, we provide professional business and administrative services to support your business.
Company formation is a straightforward procedure, the requirements of the applicable commercial legislation are precise, and the whole process is fast and easy.
We have a partnership with an electronic online Register system that allows you to generate all documentation, review it, and checked it by our legal experts within 12 hours. All that you need is to register a company.
Another option to register a Company in Montenegro, your presence in Montenegro is not needed. All you need is to provide a power of attorney to us, your proxy. If you do not have a person to put as your director, we are providing a nominee director service.
To start a business, you need to open a bank account. Sometimes, you will need to give some additional information on bank requests depending on the bank itself. We also offer administration services, and our team for administration and support will support you. Of course, that is included in the package price.
You can decide to live in Montenegro, a lovely country with a lot of possibilities. After you establish a company, you can apply for a temporary residence and work permit in Montenegro.
There are many reasons why is registering a Montenegro company an excellent business opportunity. Let us check a couple of them:
about the Economy of Montenegro
The Gross Domestic Product (GDP) in Montenegro was worth 5.49 billion US dollars in 2019
The Gross Domestic Product per capita in Montenegro was last recorded at 8545.48 US dollars in 2019. The GDP per Capital in Montenegro is equivalent to 68 percent of the world’s average.
You can find the answer to your question of why to establish a company in Montenegro right here.
Low tax rates in Montenegro are just one of the business benefits that this country offers.
Why establish a company in Montenegro?
Secure and legal business with lower taxes and significantly reduce the liabilities.
Montenegro is a country with a lot of business potential, and every year it is listed higher on the business world lists. What does it mean? Montenegro is the right place for your future investments.
In addition to the fact that everything is legal, it is safe because Montenegro uses Euro currency. In Montenegro are over ten foreign banks that operate on the same principles as their parent banks. At the same time, E-banking allows you to control all your accounts on your computer, tablet, or smartphone wherever you are.
All about Taxes in Montenegro
The tax system for foreign investors is the same as for local business establishments.
The tax rate is 9%, while the tax rate on personal income is 9%. Upon payment of the enterprise’s business obligations, business entities operating in Montenegro can transfer funds to their accounts abroad at the end of the year. Two favorable rates of value-added tax (VAT) are applied, the standard rate of 21% and the reduced rate of 7%. In contrast, the zero rates apply to export transactions and delivery of medicines and medical devices that the Republican Health Insurance Fund funds.
The tax system in Montenegro consists of:
All about company types
Limited liability companies and Sole proprietors (Entrepreneurs) are the most popular business units in Montenegro.
Establish a company with no hidden costs
The company registration costs are fixed and defined by our price packages.
No hidden costs.
Depending on the package you choose, the costs of business registrations are different; keep in mind that if you have special requirements outside of our defined packages, you should select the “on-demand” package to receive an offer for our services. If you need additional explanations regarding our service packages, please contact us.
The cost of maintenance is fixed and defined by our price packages; there are no hidden costs we support small businesses.
Suppose the scope of work for accounting services significantly increases. In that case, we will inform you in advance with an adequate explanation and proposal of a new price, which depends only on the percentage of work that needs to be done monthly.
Limited liability companies and Entrepreneurs are the most popular business units in Montenegro.
The responsibilities of a company member depend on the company type being opened.
What do you need to establish a company in Montenegro?
Believe it or not, establish a company in Montenegro so simple that your company is ready to perform its business within four working days without the need to be physically present. All you need is a passport and a minimum of one EUR of founding capital. Company registration consists of only a few key steps. If you want your company’s director to be a person from Montenegro, we offer you the services of a nominee director.
Register easily and quickly:
- 1 – contact us and make an appointment,
- 2 – choose a company name (we will check if that name is available),
- 3 – provide us with the necessary information for the company registration (personal data of the founder and director, company headquarters, activity, amount of minimum capital),
- 4 – we will prepare a power of attorney for you that needs to be signed and stamped.
- 5 – Your Company is registered. If you want to continue working with us, all you need to do is choose a package of services from our wide range of services, just the one that suits you.
For more information, you can contact us and hold a meeting with us to answer all your questions.
100% remote online company registration
An intuitive online tool, you need only 5 minutes
With the Proventum registration web application, you can quickly and easily prepare documentation for the company registration. With precise instructions, you will prepare your documentation for submitting for the Central register of business entities in Montenegro).
Step into the world of the business future, and establish a company from your comfortable environment, without waiting in queues and counters, spending time and extra resources, prepare everything you need to develop a company and doing business in Montenegro.
What does the company registration process involve?
Company registration is straightforward: only one person is required; the entire process can be carried remotely; our administrators will submit applications to the Central Register of Business entities, and approval is usually granted within a short time. To register a private company limited by shares or guarantee, you will require:
- Unique company name.
- Office address registration in Montenegro.
- Minimum of one director.
- A minimum of one shareholder or guarantor (owner) – can also be the director.
- Memorandum and articles of association
- Minimal 1 EURO of capital for company registration (limited by shares companies only).
- Bank account
Finance plus offers a wide range of services in addition to the formation of companies that will help you do business in Montenegro if you register a limited liability company in Montenegro. We also provide several professional company address services in Podgorica, including a Registered Office Service, a Service Address, and a Business Address.