Business in Montenegro: how to open a company?
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Business in Montenegro: how to open a company?
Moving to open a business in Montenegro is a very popular trend among immigrants. Firms register not only for the realization of commercial interests, but also for obtaining a guaranteed residence permit. For citizens who decided to open a business in Montenegro, the process of registration in the country is faster and easier.
What is the move for you and your family if you have previously opened a business in Montenegro?
— Registration will take no more than 2 weeks with all checks.
— You need to provide only foreign passports
It is most convenient to transport or create a business in Montenegro in the form of LLC (or DOO, in Montenegrin language). A foreigner who carries out commercial activities in Montenegro is in the status in which he is comfortable: the founder, shareholder, director, etc.
What information do you provide when registering a business in Montenegro:
— Name of company. We warn that it is better to choose several options in order not to repeat in the state register.
— The official amount of the authorized capital.
— Data on the founders and their equity participation in the formation of the authorized capital
— The official address of the company (you can register your business in Montenegro at the address of actual residence)
— Name of Executive Director
If you doubt that you will be able to open a business in Montenegro without errors and delays, contact a specialized agency that will help you:
— choose the name of the legal entity
— prepare the Charter, Memorandum of Association
— obtain permission to open a business in Montenegro from the tax authority (mandatory from 2013), register with the tax inspectorate
— register in the register of the Economic Court
— to be registered in statistical and accounting organizations
— open accounts in banks of Montenegro
— to start accounting and control it during the first few months
— pay all fees and fees that are necessary to formalize business in Montenegro
To register a business in Montenegro for a foreign citizen, you need to obtain a work permit.
After that, the agency issues a package of constituent documents and a seal of the organization to the customer.
Let's remind you about the main taxes that you pay while doing business in Montenegro:
— deductions for employees' wages (67% of the declared rates)
— VAT (19%)
— Taxes on profit and income are calculated on identical parameters, amounting to 9%.
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