Let us help you navigate through the business opportunities and the legal system of Montenegro
INTERNATIONALLY RECOGNIZED STATUS
Upon its independence in 2006, open economy and business-friendly environment has become one of the cornerstones of Montenegrin economic policy and development. While oriented toward complying with the demands of modern, democratic and economically developed society and market economy Montenegro became a full member of the World Bank, IMF and EBRD in 2007 and of WTO in 2012.
Today, Montenegro is one of the EU most perspective candidate countries, which status granted in December 2010, as well as member of NATO alliance from June 2017.
MONTENEGRO IN NUMBERS
Number of citizens – 628,040
Corporate and capital gains tax rates – 9%
Montenegro has one of the lowest corporate and capital gains tax rates in Europe, low barriers to entry for new businesses, equal property rights for foreigners and domestic persons, and a price-competitive, educated young labour force.
Highly skilled work-force – 17% of population 15+ years of age do have high school education and faculty degree. For a small country, of less than 700.000 inhabitants, Montenegro offers a highly skilled work-force at competitive costs. Young population is characterized by its multilingual talent and almost 17% of population 15+ years of age do have high school education and faculty degree.
GDP – The GDP growth rate in 2019 was 3.6%.
Tax Rates – The tax system in Montenegro includes: Corporate Income Tax (9%); Personal Income Tax (9%); Value Added Tax (standard rate 21% (applicable also on newly built properties) and rates applicable to some categories of products and services: reduced rate of 7% and zero rate) ; Real Estate Transfer Tax (3% of the tax base- real estate value); Social security contributions; Excise duties, Fees; Custom Duties.
INCORPORATION OF LLC
Incorporation of limited liability company in Montenegro shall be registered within 4 working days from the submission of request and necessary documentation to the competent authority. Limited liability company is the most frequently used form which minimum share capital shall be 1 EUR and only mandatory body to be appointed is Executive Director.
For additional information on Montenegrin laws and regulation, as well as general legal understanding of the market and business opportunities, please send us request on following e-mail address: office@crnogorac-kalezic.com