Company Formation in Montenegro
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.
Advantages of company incorporation in Montenegro:
Summary of Montenegro Limited Company and main characteristics:
| General Information | |
|---|---|
| Type of company | Limited Liability Company (LLC / D.O.O.) |
| Corporate Legislation | Law on Business Organizations enacted in February 2002, as amended |
| Taxation | Standard Corporation Tax – 9% Tax on Dividends – 9% Standard VAT rate – 21%, 7%, 0% |
| Currency | Standard Currency EUR |
| Paid up capital requirement | Paid up capital required only 1 EUR |
| Time zone | GMT (UTC) +2, GMT (UTC) +1 |
| Directors | |
| Minimum no. required | 1 |
| Local Director required | No |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Yes (can provided by Consil Formation) |
| Local Secretary required | Yes, acting as registered agent |
| Registered office required | Yes, local |
| Share Capital | |
| Standard Currency | EUR |
| Standard Authorized Capital | €1 |
| Minimum paid up capital | €1 |
| Accounting Requirements | |
| Preparation of accounts | Required (can be completed by Consil Formation) |
| Requirement for audit | Yes but not filled |
| Accounts public accessible | No |
| Requirement to file Annual Return | No |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Montenegro Limited Company
- Document Notarization per document: € 500
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.