Montenegro Company Formation

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Montenegro

Company Formation and Related Services

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Set up Company in Montenegro

September 17, 2010, 2:22 pm
BridgeWest

The economy of Montenegro is mostly service-based, with more than 70% of the GDP, and tourism is an important contributor to Montenegrin economy, being considered the main pillar of the future growth, facts that make Montenegro an interesting place to develop a business for both domestic and foreign investors. Moreover, the economical environment is benefic for foreign investment and the Law on Companies Act offer foreign investors the same rights as nationals.

Any investor willing to set up a company in Montenegro must accomplish several steps that lead to the registration with the Company Register. The procedures are simple and well structured and every entrepreneur must comply with them.

 

 

Preliminary activities prior to registering limited liability and joint stock companies in Montenegro

The first step required to set up a company a company in Montenegro consists in certifying the company's founding agreements.

In Montenegro the documents used to be certified at the basic court and at municipalities, in lack of public notary offices.

However, since 2011 the Montenegrin Notary Chamber was established and several Notary Public offices have been created, any of them being able to deal with the notarizing procedure.

Another important phase represents the finding and registration of a unique name, which must be verified and registered with the Company Registry in Montenegro.

Before registration the founders must also obtain a company seal or stamp, which is an important instrument in company legal transactions.

The founders must also obtain a statistical number and a general tax registration number, by submitting an application form signed by the company representative, copies of registration documents, certificate on the company identification number and bank account.

There is no minimum share capital required in order to set up a limited liability company in Montenegro, but opening a bank account is mandatory.

There must be deposited at least EUR 25,000 as share capital for incorporating a joint stock company.

 

Registering limited liability and joint stock companies with the Chamber of Commerce in Montenegro

In order to register a company with the Chamber of Commerce, the founders must submit an application form with the significant information of the company. The articles of association, the company charter, legal address, capital information and identification data on the managing board must also be provided.

The company Registration notifies the Official Gazette on the incorporation of the new company and the registration is published within 10-15 days.

The founder must pay EUR 10 as registration tax and EUR 12 for the publication in the Official Gazette.

 

Registering with the Employment Bureau, health fund and pension fund

Another important step required for setting up a company in Montenegro consists in registering with the Employment Bureau since the first day that an employee the activity. The procedure is simple, being accomplished by filling an application form containing information on the company and identification data of the employee.

Simultaneously with this procedure the founders must register for health and pension fund, but the founders must be aware that this action is done at a different desk.

 

Notify the inspection authority of economic affairs

New Montenegrin regulations provide that no trade license is required, but the competent inspection authority and the municipal authority of economic affairs must be notified about the new incorporated company that conducts trade activities.

The founders must pay a fee of EUR 3 for notifying the appropriate authority.

 

Setting up a company in Montenegro from abroad

The state of Montenegro welcomes foreign investments in most of the domains available. The government offers the same treatment with no discrimination and there is no restriction as to the currency used.

Any foreign investor willing to set up a company in Montenegro can benefit from the Montenegrin Law on Foreign Investment that guarantees that foreign investors can establish and run a business under the same conditions as Montenegrins.

Also there are no restrictions to repatriation of the profits. A company in Montenegro may be established without physical visit of a manager, but needs a representative in the state to carry on the establishment procedures.

 

How long does it take to establish a company in Montenegro?

 

The entire procedure for setting up a company in Montenegro can be accomplished in about 12 days as almost every procedure is completed in maximum two days time, except registration with the Chamber of Commerce which can take up to five days. The process of incorporating a new Montenegrin company is simple, but requires compliment of every procedure.


How long does it take to establish a company in Montenegro?
Almost every procedure is completed in maximum two days time, except registration with the Chamber of Commerce which can take up to five days. The process is simple, but requires compliment of every procedure. A Montenegrin company is established in approximately two weeks, but may take less.

BridgeWest offers Company Formation in Montenegro

Partners: Company Formation in SlovakiaCompany Incorporation in Italy.




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Company Formation Montenegro

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BridgeWest provides company formation services in Montenegro. Our assistance includes:

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