Doing business in Montenegro is really simplified to the maximum. The procedure for establishing a company is defined by the Law on Companies. There are several legal forms (habits) of the future business. The ease of future business also depends on choosing the right form. According to the criterion of mutual connection of company members, companies can be divided into companies of individuals and companies of capital.
There are four legal forms of companies:
A Limited Liability Company
Important requirements:
- Power of Attorney for our lawyer
- Copy of the passports for all of the founders and the executive director as well
- Maximum 30 shareholders, it could be 1 or 30, either individuals or legal entities, no matter local or foreign.
- At least 1€ of incorporating 2capital
- An executivee director is obliged who has to live in Montenegro, at least to has Resident Permit as foreigner and be paid a salary by the Company
- Osnovni kapital je podijeljen na udjele koji nemaju svojstvo hartija od vrijednosti
Joint stock company
Important requirements:
- A joint stock company is established by one or more natural persons - shareholders, local or foreign. The share capital of the company is divided into shares
- The Shareholders' Assembly is the basic body of the Joint Stock Company
- The share capital of the company is divided into shares. That requires at least €25,000
Partnership and Limited Partnership
Important requirements:
It is a multi-member company founded by partners assuming unlimited joint and several liability for the company's obligations. The emphasis is placed on the protection of the creditors of this company, because the creditor can request settlement of his debt from any member of the partnership.
Business activity can also be performed by an Entrepreneur
If you want to open a company, contact our lawyers so that we can give you an adequate offer to help you achieve that goal. The establishment procedure with our lawyers is very easy and simple. The duration of the complete procedure until obtaining the Decision on company registration is three days. The decision is issued by the Central Register of Business Entities. Your company will be registered for the performance of activities in the Tax Administration and the Customs Administration, and the registration information will be published in the Official Gazette of Montenegro.
Incorporation procedure is as follows:
- First of all, you need to choose the name of the company, which our lawyer will check if it already exists in the Register of Companies
- Decide what will be the primary activity of the company
- Have a physical office or at least a correspondence address in Montenegro
- Sign and certify the Power of Attorney for our lawyer at the notary's office.
- All necessary documents including Statutory documents of the Company (Act of Incorporation, Agreement of Association, Article of Incorporations ...) will be made by our lawyer.
Procedure after obtaining the Decision on registration
- Official Decision on incorporation will issue Central Register of Business Entities and issues tax identificaton number and VAT tax number for the Company
- Make a stamp with the Company’s name on it,
- Open a Company’s bank account, debit cards, at one of three best bank in Montenegro within 5 days
- Open a private bank account, debit cards for Executive Director at one of the three best bank in Montenegro within 5 days
- Recomendation for the best Auditor who will help Company to register Executive Director at the following departments: Tax Department, Health Department, Labour Department .... For each Company in Montenegro is obliged to have accounting service.
Costs of Incorporating Company in Montenegro
1. LLC, General and Limited liability partnerships
Price 650 €
2. Joint Stock Company
Price 1,000 €
These price including consultation with our lawyer, making all statutory and incorporation documents as well as Power of attorney, paying all necessary registration fees, notary fees, fee for translation of Power of attorney, cost for the stamp, preparing documents and opening bank’s account for Company and Executive Director.
Our professional fee for Residence Permit and Residence for Digital Nomad is 670€ including all necessary fees & translation and opening bank account.
3. Correspondence address in Montenegro
From 30€ to 60€ per month
4. Accounting service
Starting from 100€ with the companies with minimum to no income
