Montenegro, known worldwide as “Montenegro,” is a country on the Adriatic coast of the Balkans in the southeast of Europe. Montenegro has a population of 680,000 and is neighboring Italy and Croatia. The official currency is the Euro. Montenegro has been a member of NATO since 5 June 2017. As of 2025, Montenegro’s EU membership is expected to be approved. If it becomes a full member of the EU, Montenegro will be a strategic transit point to open up to the massive market of the European Union. Business people who are aware of this situation have already started to invest in advance for economic opportunities by establishing companies in Montenegro. Turkish citizens do not need a visa to travel to Montenegro for a period not exceeding 90 days. You can get a residence and work permit quickly by establishing a company in Montenegro.
There are many advantages to establishing a company in Montenegro. We can list the most important ones as follows:
The two most common types of companies in Montenegro and the documents required to establish these companies are listed below.
Limited liability companies are known as the most preferred company type in Montenegro. Montenegro Limited companies can be established with one founder and a minimum capital of 1 Euro.
To establish a limited liability company in Montenegro, company incorporation documents, a company incorporation resolution agreement, and a registration form are required.
Joint stock companies in Montenegro can be established with at least two founding members and a capital of 25.000 euros.
To establish a joint stock company in Montenegro, incorporation documents; decisions on the appointment of a board of directors, general manager, secretary, and auditor; social security numbers of board members; names of board members and managers; addresses and names of general manager, auditor, and secretary; signed statement on the fulfillment of the obligations of the company, securities commission decision and registration form are required.
Foreign companies wishing to do business in Montenegro can open foreign company branches affiliated with the parent company and carry out the same activities.
Here are the documents required to establish a foreign company branch in Montenegro
In Montenegro, there are certain stages to be followed by foreign investors to establish a business. For the company to be opened in Montenegro, the name must first be determined, and another organization must not use the name chosen.
A Montenegrin notary public must notarize the company’s incorporation articles in Montenegro, and depending on the number of pages and documents in the articles of incorporation, the cost of the notarization process may vary. The required company registration and publication fee must be paid to a bank in Montenegro.
The required capitalization fee for setting up a company in Montenegro is “1 EURO”. Having any primary, high school, or university diplomas, a criminal record, and a valid passport is sufficient. Company establishment takes five working days. Apply for a residence card through the company setup. Within 15 working days, the ID card will be ready. The whole legal process takes an average of 21 working days. A company can be established with a partner. Family members can also get a session through the company and session.
There is no language requirement. There are trade agreements with Europe. After the European Union membership is approved, the whole process will be brought to EU standards before the company and session holders can benefit from the advantages of EU member countries. Montenegro has Free Trade Agreements with EU countries, EFTA countries, CEFTA countries, Turkey, Russia, and Ukraine.
The requirements for opening a company branch in Montenegro are as follows:
There are many different types of taxes in Montenegro. Below we briefly explain them under headings.
Income Tax: 9% (or 11%) (not levied up to €30,000) Corporate Tax: 9% Social Security Rate: 34.3% (ceiling: €50,000) Social Security Rate for companies: 10.3% Social Security Rate for employees: 24
The Value Added Tax (VAT) rate in Montenegro is 21%, and VAT is not charged up to €30,000.
Suppose the amount of tax debt in the tax period is less than the amount of value-added tax that the taxpayer can offset in the same period. The difference is recognized as a tax credit upon request for the next tax period. This procedure is performed within 60 days after filing the Value Added Tax (VAT) return.
For a taxpayer who mainly exports products and for a taxpayer with more than three consecutive VAT calculations, the VAT difference indicating a VAT contribution is refunded within 30 days from the date of filing the VAT return. If the taxpayer has ceased to pay other taxes, the difference in VAT is reduced by the amount of the tax debt.
Importing raw materials is exempt from customs duty if the imported raw materials are used to produce end products for export. For this, permission must be obtained from the competent customs authority. As a foreign investor, customs duty is not paid on equipment import, but VAT must be paid.
Approval must be obtained by applying to the authorized customs authority.
Export Regime and Taxes
No customs duties are levied on exported products, but according to the VAT law, 0% VAT must be paid. This means that VAT is paid for the raw materials, and no VAT is paid when exporting the final product. Furthermore, VAT paid for the raw materials of the exported product can be recovered.
It is regulated in the Customs Duties Act. Taxes vary between 0% and 30%. A tax of 5% is applied to goods imported for non-commercial purposes.
We want to point out that there are also cleaning and property taxes, which are applied at different rates in each municipality. Foreign investors are not subject to further taxation than domestic investors. A business operating in Montenegro can transfer money to its account abroad at the end of the year in addition to the profit tax paid in advance. The rate of property sales tax is proportional to 3% of the tax base.
In Montenegro, you need a workplace contract to set up a company and a house rental contract for a residence permit. But with MHR & Partners and our solution partner in Montenegro, we carry out all these procedures in-house and deliver you your company and residence permit without additional costs.
No, you do not have to live in Montenegro. Your residence permit is issued annually and is renewed regularly every year. You can keep your company active or inactive and save it as an investment for the future by paying only your insurance fee. You are also not obliged to enter the country.
According to Montenegrin law, only one person (spouse and children under 18) from each company can benefit from the advantages related to residence. The junior partner must live in Montenegro for 11 months to obtain a residence permit. The junior partner cannot receive a permanent residency after five years.
Yes, you do. According to Montenegrin law, they do not deliver your residence card to anyone other than you.
Yes, it is effortless and cheap. There is no capital requirement. It is possible to set up your company within five working days. Also, the Montenegrin government is interested in something other than whether your company is active.
Montenegro is a country that still needs to complete the candidature process for membership in the European Union and expects to become an EU member in the first session. After becoming an EU member, traveling to Schengen countries without a visa is possible. Before that, with our consultancy, you can quickly get your Schengen visa from the consulates in Montenegro to travel to Schengen countries.
Since Montenegro (Montenegro) is a touristic country, it does not cause language difficulties for foreign investors or visitors. English is a highly recognized language throughout the country, and it is a geography where intercultural interaction is rich, as it is a region rich in ethnic diversity. You can easily handle even your official documents with an English or Turkish interpreter and easily communicate with basic English in your social life. Twenty percent of the country’s population is Muslim. In addition, the number of Turkish and Turkish-speaking locals in the country is high due to ethnic diversity. There is sympathy for business people from Turkey. You will be fine with adapting to daily life.
The official currency of Montenegro is EURO, and there are free trade agreements with the European Union and Turkey. Intensive summer & winter tourism, import & export potential, and ease of doing business in the country stand out with many Turkey, Russia, and Europe-based investments. Investments are increasing daily due to entry into the European Union, and development is supported with various high-volume EU funds.
Montenegro hosts about ten times more tourists (more than 4 million) yearly than the country’s population. There are investment opportunities in the tourism and service sector. Since it is cheap and fast to establish a company and tax rates are low, you can manage your economic activities in the European Union countries from Montenegro.
As of 2022, the minimum wage in Montenegro is 532.5 EUR. The official and circulating currency are EUR.
The European Union provided Montenegro with EUR 504.9 million from 2007-2020. The trade volume in goods between the European Union and Montenegro totaled EUR 1.1 billion in 2020. A visa waiver was agreed upon between Montenegro and the European Union in 2009, giving Montenegrin citizens the right to free movement in the European Union. The economic support package that Montenegro receives according to its population significantly contributes to the country’s development. There is an opportunity to benefit from these funds by establishing a company in Montenegro.
%100 yasal şirket kurulumu ve oturum izni işlemlerinizi ortalama 21 gün içerisinde tamamlayarak oturum kartınızı size teslim ediyoruz. Montenegro’ya ilk adımınızı attığınızda havaalanı transferinizi sağlıyor ve birlikte şehir turu yapıyoruz.
Ofisimizde sizleri ağırlarken mevcut iş fırsatları ve paketler hakkında bilgilendirme yapıyoruz. Şirketinize ait kurumsal web sitenizi kurarak size hediye ediyoruz. İlk ay boyunca ücretsiz adaptasyon ve dil desteği sağlıyoruz. Standart ve Premium olmak üzere iki farklı hizmet paketimiz bulunmaktadır.
As MHR & Partners, we are directly and indirectly active in more than 20 countries worldwide. We aim to operate with 10 branches in 100 countries in 10 years. We offer you end-to-end consultancy and support services in establishing a company, obtaining a residence permit, and in all operational processes abroad, primarily financial issues.
Our priority is to provide consultancy services to companies with a growth vision and business strategy abroad. We attach particular importance to the uninterrupted continuation of our services with the assurance of MHR & Partners (Mühür YMM AŞ) after the company establishment stages. Our core mission is to be a safe harbor and provide sustainable services.
We want to be a bridge to our customers’ business plans for growth and development, even in the most remote parts of the world.
To establish a business in Montenegro, you can contact Sworn-in Certified Public Accountant Mehmet Akif Özmen directly (+90 542 830 3408 or firstname.lastname@example.org). If you wish, you can reserve a meeting by filling out the form below.
First of all, you should create a business plan. For this purpose, visiting Montenegro, making business contacts, and establishing connections with local partner is very useful.
It is imperative to determine your vision, the sector in which you will operate, and your business details to clarify your goals and objectives and to extract your investment budget and capital in your business plan for at least three years.
The next step after the research and planning phase is to take action. The lowest risk and cost strategy in an unfamiliar market is to proceed through partners or consultants who know the Montenegro market well.
As MHR & Partners, we established our own company in Germany and opened a physical office in Mannheim. Germany serves as the focal point for our global operations. As an end-to-end consultancy service provider with local partners in the Netherlands, the UK, Belgium, Romania, Montenegro and Bulgaria, we help you set up a business from scratch safely and quickly, as well as manage all the processes you’ll need once it’s established.
You can contact Sworn-in Certified Public Accountant Mehmet Akif Özmen directly (+90 542 830 3408 or email@example.com) to set up a business in Montenegro.
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