We invite you to read below about how to open a company in Montenegro. We are a law firm specialized in offering assistance to foreign investors interested in setting up their own businesses in Montenegro.
| Quick Facts | |
|---|---|
| Applicable Law | Company Act |
|
Available legal forms |
Sole trader, partnership, private limited liaibility company, public company |
|
Legal entities for foreign companies |
Subsidiary, branch office, liaison office |
| Minimum number of shareholders |
1 |
| Minimum number of directors | 1 |
| Resident director required (YES/NO) |
NO |
| Minimum share capital |
25,000 EUR for public companies |
| Incorporation documents | Articles of Association, shareholders and directors identification papers, proof of local legal seat, trading name reservation |
| Local bank account required (YES/NO) | YES |
| Local legal address required (YES/NO) | YES |
| Special requirements for foreign investors | NO |
| Registration timeframe (approx.) | Approx. 4 weeks |
| Corporate tax rate | 9% |
| Access to double tax treaties (YES/NO) | YES, approx. 40 double tax treaties |
| Business registration support (YES/NO) | YES |
Table of Contents
Who can open a company in Montenegro?
The following types of investors can open businesses in Montenegro:
- Montenegrin citizens;
- foreign nationals;
- local and foreign enterprises through corporate shareholding.
What types of companies can I open in Montenegro?
The following entities can be registered in Montenegro:
- the sole proprietorship;
- the general partnership;
- the limited partnership;
- the limited liability company;
- the joint stock company.
Other types of business entities that can be set up by foreign companies this time are the subsidiary company (which can take the form of a limited liability company), the branch office, and the liaison office, which are suitable for foreign companies seeking to have full control over the operations. A particularity of the representative office is that it cannot complete economic activities in Montenegro.
Do I need to come to Montenegro to open a company?
No, remote registration is also available. Our Montenegrin lawyers can represent clients based on a power of attorney. Our business registration packages start at EUR 1,000, to which the Company Register fee of EUR 22 is added.
We also provide virtual office services starting at EUR 75 per month, and accounting solutions with prices that start at EUR 130 per month.
We have also created a scheme on how to open a company in Montenegro:
What is the minimum number of shareholders in a Montenegrin company?
One.
What is the minimum number of directors required to open a company in Montenegro?
One.
Is a resident director required to open a business in Montenegro?
No, it is not. However, the non-resident director is still required to obtain a work permit for Montenegro.
Is it necessary for a company to have a legal address in Montenegro?
Yes.
Is it necessary to deposit a minimum share capital to open a company in Montenegro?
Yes, but only when setting up a joint stock company. The minimum amount required is EUR 25,000.
What are the steps to open a business in Montenegro?
- Trading name reservation;
- Documents preparation;
- Application file submission to the Trade Register;
- Bank account opening;
- Tax registration (voluntary VAT registration is also possible at this stage);
- Licensing (if required).
What are the documents required to open a company in Montenegro?
A founder must deliver the following documents in order to register a new business:
- the notarized memorandum of association and articles of association;
- a list with all the company’s members and their function;
- details regarding the executive director;
- the name of the company;
- registered address and the correspondence address (if not the same);
- the name of the company’s representative;
- written consent of the members of the board for their appointment(if available);
- a proof that the registration fee was paid.
What is the most popular type of company for a foreign investor in Montenegro?
The private limited liability company, as it requires a minimum capital of 1 euro, and it is the fastest to register.
How long does it take to open a company in Montenegro as a foreigner?
The registration procedure takes about 1 week to complete.
In case you need assistance for opening a company in a different country, for example, setting up a company in Vietnam, our partners are at your disposal.
All businessmen interested in starting a business in the country are invited to contact our Montenegro law firm for professional company formation services. We can also assist clients interested in immigration to Montenegro.