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Company formation in Montenegro
Comprehensive assistance in company formation, including banking services
How to form a company in Montenegro
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Montenegro and opening a bank account in Montenegro
2
Payment of services
Payment of our services for company formation in Montenegro and/or bank account assistance in Montenegro
3
Company formation
We register a new company in Montenegro for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to forming a company in Montenegro
Corporate income tax rate is 9%.
1. Founders of a company in Montenegro can either be resident or non-resident in Montenegro. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a director in Montenegro. It is not required for companies in Montenegro to have a resident individual as one of their shareholders or directors. However every non-resident director needs to acquire a residence permit in Montenegro.
3. One individual can be simultaneously a shareholder and a director in a company in Montenegro if such company is registered as a d.o.o. (a limited liability company).
4. There is no requirement for creating substance in Montenegro - no need to hire local employees or rent an office in order to establish a company in Montenegro or to conduct business in Montenegro.
5. Minimum share capital that is required to register a company in Montenegro as a d.o.o. (a limited liability company) is just EUR 1.
6. Information about company founders, shareholders and directors after a company registration in Montenegro is complete is publicly available in the state corporate register.
7. A company in Montenegro can be registered remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Podgorica for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a director in Montenegro. It is not required for companies in Montenegro to have a resident individual as one of their shareholders or directors. However every non-resident director needs to acquire a residence permit in Montenegro.
3. One individual can be simultaneously a shareholder and a director in a company in Montenegro if such company is registered as a d.o.o. (a limited liability company).
4. There is no requirement for creating substance in Montenegro - no need to hire local employees or rent an office in order to establish a company in Montenegro or to conduct business in Montenegro.
5. Minimum share capital that is required to register a company in Montenegro as a d.o.o. (a limited liability company) is just EUR 1.
6. Information about company founders, shareholders and directors after a company registration in Montenegro is complete is publicly available in the state corporate register.
7. A company in Montenegro can be registered remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Podgorica for 1 day in order to open a corporate bank account.
Cost of services
Formation of a d.o.o.
Timeframe - 10 business days
Timeframe - 10 business days
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Advantages of forming a company in Montenegro
Attractive business-environment
- Access to major EU markets
- Access to the Adriatic Sea allows to establish maritime trade with EU states, Turkey, Middle Eastern and North African states
- Stable economic growth
- Highly-qualified workforce
- Low inflation
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Corporate income tax rate is 9%
- Corporate income tax incentives in free trade zones
- VAT exemption on construction of high-end hotels, food production and energy production facilities
- Multiple double tax treaties
No foreign exchange controls
- Montenegro joined the Euro area, which allows it to secure free capital transfer in any currency. Individuals and business-entities, either resident or non-resident in Montenegro may open bank accounts in local banks in any currency
Ease of establishing and doing business
- Minimum share capital for a d.o.o. (a limited liability company) is just EUR 1
- 100% foreign ownership of a company is available
- Remote company formation in Montenegro is available
More about Montenegro
Montenegro is located in Southeastern Europe and is a part of the Balkans. Montenegro borders Albania, Bosnia and Herzegovina, Croatia, Kosovo and Serbia and has access to the Adriatic Sea. Montenegro has a territory of 13,812 square kilometers. The capital city of Montenegro is Podgorica, the largest city and the location of key government institutions.
Montenegro has a population of 620,74 thousand people.
Montenegro has a population of 620,74 thousand people.
Official currency of Montenegro is euro (EUR).
Montenegro has a service-based market economy that is based on financial invesments, in the energy and tourism sectors. Agricultural land amounts to 19% of the total land area. In the coastal region citrus and olive cultures are widespread, seasonable vegetables and tobacco can be found in the central parts, and the in the north of the country extensive sheep breeding is widespread. The steel and aluminium industry alone represents a good part of the country's exports and is expected to boost economic development. The manufacturing sector is still underdeveloped.
The GDP of Moldova grew by 13% in 2021 and amounted to USD 5.86 billion. Tertiary sector makes up almost 58.5% of the GDP of the country, followed by industry sector at 16.1%, agriculture at 6.4% and manufacturing at 4.1%.
In terms of foreign trade the largest exports of the country are unwrought aluminium, electrical energy, medicaments, wood, aluminium ores, wine, zinc ores, meat, ferrous remains.
Imports of Montenegro consist of energy, petroleum oils, natural gas, cars and vehicles, transmission apparatus, electric conductors, consumer goods, cars, food and beverages.
Primary trading partners of Montenegro are Serbia, Slovenia, Hungary, Bosnia and Herzegovina, China, Germany, Turkey, Albania, Poland, Italy, Croatia, Greece, France and Spain.
Montenegro has a service-based market economy that is based on financial invesments, in the energy and tourism sectors. Agricultural land amounts to 19% of the total land area. In the coastal region citrus and olive cultures are widespread, seasonable vegetables and tobacco can be found in the central parts, and the in the north of the country extensive sheep breeding is widespread. The steel and aluminium industry alone represents a good part of the country's exports and is expected to boost economic development. The manufacturing sector is still underdeveloped.
The GDP of Moldova grew by 13% in 2021 and amounted to USD 5.86 billion. Tertiary sector makes up almost 58.5% of the GDP of the country, followed by industry sector at 16.1%, agriculture at 6.4% and manufacturing at 4.1%.
In terms of foreign trade the largest exports of the country are unwrought aluminium, electrical energy, medicaments, wood, aluminium ores, wine, zinc ores, meat, ferrous remains.
Imports of Montenegro consist of energy, petroleum oils, natural gas, cars and vehicles, transmission apparatus, electric conductors, consumer goods, cars, food and beverages.
Primary trading partners of Montenegro are Serbia, Slovenia, Hungary, Bosnia and Herzegovina, China, Germany, Turkey, Albania, Poland, Italy, Croatia, Greece, France and Spain.
International business expands to Montenegro and incorporates a company in Montenegro primarily for:
Restricted for foreign entrepreneurs are the following sectors:
- energy
- tourism
- ICT sector
- IT
- infrastructure projects
- logistics.
Restricted for foreign entrepreneurs are the following sectors:
- defense industry
- television
- telecommunications and radio
- air transport
- postal services.
- Corporate income tax - Tax rate 9% applies to to the annual profit up to EUR 100,000. Annual profit ranging from EUR 100,000 up to EUR 1,5 million is subject to the tax rate of 12%. Annual profit exceeding EUR 1,5 million is subject to the tax rate of 15%. Tax returns are filed on an annual basis. Advance income tax payments are made 6 times a year
- Dividend withholding tax - 15%
- Interest withholding tax - 15%
- Royalties withholding tax - 15%
- Capital gains tax - 9%/12%/15%
- VAT - Standard tax rate 21% or reduced rates from 0% up to 7% or tax exempt. Tax returns are filed on a monthly basis
- Personal income tax - from 9% up to 15%.
Apart from such traditional business entity types as a limited liability company (Društvo sa ograničenom odgovornošću - d.o.o.) and a public limited company (Akcionarsko društvo - AD), corporate law in Montenegro offers to establish a business as:
1. General partnership (Ortačko društvo - OD)
2. Limited partnership (Komanditno društvo - KD)
3. Branch office (Filijala)
To receive a detailed description of the company formation procedure in Montenegro and information about documents necessary for company formation in Montenegro please contact our experts.
1. General partnership (Ortačko društvo - OD)
2. Limited partnership (Komanditno društvo - KD)
3. Branch office (Filijala)
To receive a detailed description of the company formation procedure in Montenegro and information about documents necessary for company formation in Montenegro please contact our experts.
Send a request for company formation in Montenegro
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
