Montenegro

9 advantages of doing business in Montenegro:

  • Unique nature and climate.
  • Prices for real estate in Montenegro are 30-50 % lower than in other European countries, even taking into account their growth by 75 % in comparison with 2002.
  • European coast is very expensive while in Montenegro it is much cheaper.
  • International tourist organization World Travel and Tourism Council (WTTC) considers Montenegro to occupy the 3rd place in the list of the most rapidly developing tourist centers and estimates that by 2014 tourism in Montenegro will grow by 400 % in comparison with 2004.
  • In January 2007, Montenegro became a member of the International Monetary Fund and the World bank. By the end of 2010, the introduction of Montenegro into NATO and EU will make it even more attractive for fast capital investments.
  • Gross national product of this country.
  • Stable and loyal legislation.
  • Visa-free entrance for citizens of Russia.
  • Monetary unit is Euro.

The legislation of Montenegro allows Russians to buy and sell the real estate in its territory, as well as grants them visa-free entrance and departure. There is no mortgage lending in Montenegro, but there is a convenient kind of payment - by instalment.

Foreign citizens have a right to get any residential and commercial real estate - a house, apartment or a plot of land for construction with a foundation, constructions or building ruins with the exception of not urbanized plots of land without constructions. The system of registration of transactions with the real estate in Montenegro includes a uniform cadastre and a register of property rights.

The owners of the real estate and members of their families can get a permission for a long-term stay in the country.

Now, in Montenegro, Russian developers offer individual share in building.

In recent years, Montenegro involves reputable foreign investors doing large investments into this country in several directions: investments to Montenegro can be in the field of business, building, as well as investments to Montenegro into operations with real estate and plots of land and tourism. Investments to Montenegro are rather profitable, and the economic situation is extremely favorable.

If investments into Montenegro, whether it be building, business or the real estate, are included into your plans our company can essentially help you. We will promote you in operations with the real estate help to develop the investment project and business plan, as well as to obtain a permit for construction and to register the enterprise.

Company registration in Montenegro

According to the law «About commercial enterprises», it is possible in Montenegro to register six types of legal bodies:

  • a businessman;
  • simple association - «OD»;
  • limited liability association - «KD»;
  • joint-stock company - «AD»;
  • society with limited liability - «DOO»;
  • representation of the foreign company.

The most common way is limited liability Company registration in Montenegro. For the given organizational-legal form there are following conditions:

  • a minimum number of directors is one;
  • the director-resident (recently requirements are made to directors-foreigners under additional documents and availability of the permission for work) formally is not required. For additional payment it is possible to involve a nominal director from Montenegro party;
  • the number of participants of a society is from one to thirty, participants-residents are not required. For additional payment,  nominal owners from Montenegro party are involved. The director and the participant of a society can be in one person;
  • granting of the accounting reporting is required;
  • annual audit of activity of the enterprise is not required;
  • minimum authorized capital is 1 EURO, bearer shares are not issued.

Preparatory stage of the company registration in Montenegro

  1. Choice of the name of your future company in Montenegro (3-5 variants). Our company will check among the already existing companies for a duplication exception.
  2. Definition of the authorized capital value of the company in Montenegro. We bring the nominal authorized capital defined by the legislation of Montenegro. You can increase the amount of an authorized capital.
  3. Definition of founders and contribution of each of those in authorized fund of company in Montenegro.
  4. Preparation of powers of attorney from founders of the company who will not be present in Montenegro at record of meeting of founders on company establishing.
  5. Selection of a nominee of the nominal director who can be a citizen of Montenegro or a foreigner having PERMANENT RESIDENCE in Montenegro.
  6. To define the legal address of the company in Montenegro. Registration cost includes granting of the legal address for your company for half a year
  7. To prepare the draft of the constituent contract for your company in Montenegro.

The documents necessary for registration of the enterprise:

  • Information about the founder (founders) and the director of the company*
  • If founders are legal persons then authorized documents of the company and the decision on creation of affiliated structure/representative office* is required
  • Kinds of activity of the company and 3 variants of the name

* - certified notarially and translated into Serbian.

Period of registration of the company:

The firm is registered in Trading court of Montenegro on the legal address. After reception of the registration certificate the company is signed up in tax authorities and in the bodies of statistics of Montenegro. The corporate account of the company in bank of Montenegro is opened.

Depending on the form of the enterprise the registration period is 3 to 5 weeks.

The cost of company registration:

  • Open Company (DOO) - from 2500 Euros;
  • Representation of the foreign company in Montenegro - from 3000 Euros.