How to open a company in Montenegro?
You will find here all information about how to open a company in Montenegro, and what are your responsibilities.
We are a professional agency with around 30 employees and more than 25 years of experience. Once you establish a company in Montenegro, 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 clear 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, reviewed, and checked 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. As well if 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, maybe 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 very beautiful 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 a great business opportunity, lets 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 capital 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 is just one of the business benefits that this country offers.
Why establish a company in Montenegro?
Secure and legal business with lower costs and significantly reduced 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 in Montenegro Euro is used as currency, and also in Montenegro are over 10 foreign banks that operate on the same principles as their parent banks, while E-banking allows you to have control over 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 establishment.
The tax rate is up to 9%, while the tax rate on personal income is 9% or 13%. Upon payment of the business obligations of the enterprise, business entities operating in Montenegro have the possibility to transfer funds to their accounts abroad at the end of the year. Two positive rates of value-added tax (VAT) are applied, the standard rate of 21%, and the reduced rate of 7%, while the zero rates apply to export transactions and delivery of medicines and medical devices that are funded by the Republican Health Insurance Fund.
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, then you should choose the “on-demand” package in order 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 remote business
If the scope of work for accounting services significantly increases, you will be informed in advance with an adequate explanation and proposal of a new price, which depends only on the percentage of the amount of work that needs to be done on a monthly basis.
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 is so simple that within 4 working days, without the need to be physically present, your company is ready to perform its business. 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 the director of your company 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 where we will 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, and with precise instructions, your documentation will be prepared 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 establish a company and doing business in Montenegro.
What does the company registration process involve?
Company registration is incredibly simple: only one person is required; the entire process can be carried remotely; applications will be submitted by our administrators to the Central Register of Business entities, and approval is normally 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.