Registering a company in Montenegro

Hi everyone!

Thank you in advance for accepting me in the community.

I am Hamza from France and with business associate we are considering registering our company in Montenegro. It is a real estate consulting business covering the Balkans and Central Europe Region.

What I wanted to ask you all is if you have any feedback or experience to share regarding this topic. What are the pros and cons of incorporating in Montenegro and would you recommend it.

Also I would like to know if it is easy enough to do it ourselves or would we have to hire a 3rd party service provider to help us to navigate the processes and bureaucracy. If we come to Montenegro, how long do we have to stay in order to settle everything?

Thank you in advance for your replies,

Cheers!

Hi Hamza!

procedure for registering of the company in Montenegro is not so complex but anyhow i would recommend to hire 3rd party service provider as they are familiar with possible obstacles. I would suggest to contact my office and we will  provide you with all information in more detail ( mail address is office[at]in-flow.me).

Usually it takes three to four days for company registering and opening of the bank account. Foreigner has to obtain residence and work permit and we can inform you about procedure, as well.

And coming back to your first question:) , having in mind that I am form Montenegro i would number only the pros for investing in Montenegro:
•Dynamic economic growth and development
• Multi-ethnic harmony and political stability
• Strategic geographic position, with exit to the sea
• Qualified human resources
• Favorable tax climate (corporate tax 9%)
• Pro-business Government
• Treatment of foreign and domestic investors on the same basis
• Hub for regional business
• Easy business start-up
• Young population with multilingual talent

I hope this helps,

Jadranka

Hello Jadranka!

Thank you for your message.
We do not need to do the residency permit as we do not plan to live in Montenegro for now. Is it compulsory? Thank you.

Hi Hamsa,

you are welcome.

No it is not compulsory.

KR
Jadranka

Hi Hamza,

My opinion is that if you do not plan to register for residency permit, then you will need to have a local director.

A company in MNE need to have a resident director (National Montenegrin or foreigner with residency/work permit). Also the director need to have a salary, a working contract and can be declared the minimum at quarter time (50€ monthly + 25€ of social tax).

Director have full power, and can sign any document on behalf of the company. It is very complicated to limited his action. Take care to have a very trusted director.

That's mean it is not the same than incorporate a company under English common-law, where you can have a Nominee Director services agreement which doesn't give any power to the Nominee director.

If you plan to use a MNE company as you use an offshore company, then maybe you should consider to incorporate a Scottish LP, with the bank account in Montenegro.

I have a Montengrin Shelf company that i have had since 2017 if anyone is interested in purchasing a company that is established, with website and bank accounts etc.

Hello im interested

This is interesting thanks, what does registering scotland achieve.?

What are residency requirements please ?

I have dual citenzenship in uk and usa, what are residency requirements in order to set up register company in MN thanks

We are in same position, how are you doing with your objective to register in mn? Thanks

Seb LECHAT :

Director have full power, and can sign any document on behalf of the company. It is very complicated to limited his action. Take care to have a very trusted director.

That's mean it is not the same than incorporate a company under English common-law, where you can have a Nominee Director services agreement which doesn't give any power to the Nominee director.

Small correction here: It is possible to limit the powers of the Executive Director in the Statutes of the Company. My Directors can only sign administrative documents of little importance. All sales, purchase contracts, money handling etc. only I, as the shareholder, am allowed to do.

We are 3 shareholders and want to incorporate a company. None of us is resident in Montenegro. Do we need one of us getting residence and live there? Other options?

Once you register a company you will get residency. You don't need to have residency for the set up. PM me and I'll help more.

any good agency for company establishment?

Hi is your company still for sale

Yes, PM me. I can recommend the one that handles my docs.

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