Montenegro company

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Montenegro Company Formation

Montenegro is a country in Southeastern Europe on the Adriatic Sea. It borders Bosnia and Herzegovina to the north, Serbia and the disputed territory of Kosovo to the east, Albania to the south and Croatia to the west. Montenegro has an area of 13,812 square kilometers and a population of 620 thousand, most of whom are Orthodox Christians. Its capital Podgorica is one of the twenty-three municipalities in the country. Cetinje is designated as the Old Royal Capital.

Montenegro was part of the Yugoslavia nation until it gained its independence in 2006. While tourism is its main economic sector, attracting investors to establish new companies in Europe is a fast growing sector. In 2011, the country introduced a faster efficient one stop company registration system which foreigners like. While not being a member of the European Union (EU) the Euro is its official currency.

Since Montenegro has obtained its independence in 2006, the country attempt to become one of the most important destinations for the investors who want to form a company in Europe. The most developed sector in Montenegro is the tourism. The Government has invested strongly in infrastructure making the country more accessible for investors and tourism.

Montenegro Limited Liability Companies are not considered as offshore companies as there is no offshore legislation in Montenegro.

Limited Liability Company (LLC) is the most common type of company used by entrepreneurs and investors looking to do business in Montenegro. A D.O.O. Company can be setup by a single individual who can be the shareholder and director of the company. There are no restrictions as to the nationality and residency of the shareholders/director. The minimum paid up share capital for a Montenegro LLC is €1. The company can easily open a local bank account.

Montenegro Company Formation

Montenegro Company Formation Advantages

  • Double-tax agreements with more than 40 countries, residence certificate, VAT Number;
  • Credibility and prestige for your worldwide partners, having your resident non-offshore company;
  • 9% Corporate Profit Tax rate (CPT).The general WHT rate is 9% including dividends. Application of a double tax treaty (DTT) may reduce or eliminate Montenegrin WHT;
  • There are no restrictions on foreign Directors or Shareholders, individual or corporate;
  • Montenegro LLC company can easily open bank accounts at any local bank;
  • Board Meetings can be held anywhere in the world;
  • Complete foreign ownership, limited liability, low corporate tax rate, one shareholder who can be the sole director, low share capital;
  • Montenegro is NOT a Signatory of the Multilateral Competent Authority Agreement and Intended First Information Exchange Date.

Montenegro Company Formation Summary and Main Characteristics:

General Information 
Type of companyLimited Liability Company (LLC / D.O.O.)
Corporate LegislationLaw on Business Organizations enacted in February 2002, as amended
TaxationStandard Corporation Tax – 9%
Tax on Dividends – 9%
Standard VAT rate – 21%, 7%, 0%
CurrencyStandard Currency EUR
Paid up capital requirementPaid up capital required only 1 EUR
Time zoneGMT (UTC) +2, GMT (UTC) +1
Directors
Minimum no. required1
Local Director requiredNo
Location of MeetingsAnywhere
Shareholders
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
RequiredYes (can provided by Consil Formation)
Local Secretary requiredYes, acting as registered agent
Registered office requiredYes, local
Share Capital
Standard CurrencyEUR
Standard Authorized Capital1
Minimum paid up capital1
Accounting Requirements
Preparation of accountsRequired (can be completed by Consil Formation)
Requirement for auditYes but not filled
Accounts public accessibleNo
Requirement to file Annual ReturnNo
Further Information
Bearer sharesNo
ConfidentialityYes
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Company Formation Fee

  • Company Formation – with all services included for the first year: Ask for quotation;
  • Certificate of Incorporation;
  • Incorporation Agreement;
  • Appointment of Director(s), Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;
  • Share Certificate(s);
  • Authorized Share Capital of €1;
  • Local Registered Office Address;
  • Personal manager assistance for the entire period.
  • Local Licensed Secretary;
  • Registered Agent;

Renewal Fee after one year – with all services included for the next year: Ask for quotation

  • Local Registered Office Address;
  • Registered Agent;
  • Licensed Local Secretary;
  • Personal manager assistance for the entire period.
  • All necessary procedures for the company renewal.

Further Optional Services:

  • Nominee Director – Mandatory two local individuals required to be appointed as directors: €2.500
  • Nominee Shareholder – Individual or Corporate as per client’s request: €750
  • Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements: €500
  • Certificate of Good Standing with Apostille,in accordance with official institutions and banks requirements: €450
  • Certificate of Incumbency with Apostille,in accordance with official institutions and banks requirements: €450
  • Legalization of Documents;
  • Document Notarization per document;
  • Bundle of documents Notarization;
  • Document Apostillation per document;
  • Bundle of documents Apostillation.
  • Company Seal
  • Company Rubber Stamp
  • Bank Account opening service – Quotation based on each particular case
  • Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review;
  • Accounting & Bookkeeping – Quotation based on each particular case.

If you are looking to open a bank account in the particular country or bank, please contact as by e-mail office@consilformation.com
or call our Banking Department at +34 685 28 86 93

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