Opening a Business in MontenegroUpdated on Monday 14th November 2016
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How easy is it to set up a business in Montenegro?
The process of company incorporation in Montenegro is not very complicated and takes around ten working days if all the documents are properly submitted. With the help of a team of Montenegro lawyers specialized in commercial law, it shouldn't be a problem to have a newly formed company ready to begin its business.
How easy is it to hire personnel in Montenegro?
The Montenegro workforce is considered to be very well trained so it’s not hard to find suitable candidates for the vacant places in the companies. Many of them are speaking English so many foreign investors can find here personnel for their companies. It is advisable to hire an employment agency in order to find the suitable candidates in a short period of time.
What are the main points of interest for foreign investors?
Since gaining its independence in 2006, Montenegro has been considered a safe economic place with a rising economy and a decrease of the inflation. The most strongly developed area is the service sector, mostly represented by the tourism. Montenegro is included in the 10 holiday destinations in the world. More than 80 tour operators from more than 15 countries are organizing holidays here. The government is not making a difference between the foreign investors and the local investors related to the land laws. This makes the investments in real estate very advantageous(also due to the small prices of the properties).
A Free Trade Zone for the repatriation of profits and residency rights was established by the government in Montenegro in order to attract foreign investments. The Montenegro’s government investments policies are especially focused on manufacturing industry, construction sector and the tourism industry.
Our lawyers in Montenegro can help you establish a company in any business field you intend to.
What are the advantages of a holding company in Montenegro?
A holding company opened in Montenegro can beneficiate from the advantageous tax system which the country has. Only 9% are levied from profits, while the dividends, interests and royalties paid to non-residents are taxed with the same rate. These rates can be exempt or minimized by one of the many double tax treaties signed all over the years by Montenegro.
Do not hesitate to contact our team of attorneys in Montenegro for more details about the holding companies in this country or for a personalized offer.